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Bill: Gold Standard Act of 2776
Details
Submitted by[?]: Rutanian Restoration Party
Status[?]: defeated
Votes: This bill is a resolution. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: October 2778
Description[?]:
| The Orange Party proposes that the Rutanian treasury adopt a gold standard. This would prove an advantageous step that would serve to protect our currency during economic crises and proves to the people that there is value behind their money and that it is not printed out of thin air. The most recent economic recession proved that international currencies are weak and that when one currency or economy takes a hit, that all economies suffer. Gold offers us protection from this sort of situation. It actually strengthens during hard economic times, as investors leave stocks for something for concrete, gold. The price of gold then goes up, thus making our currency more valuable in the end. This process, however, involves us only printing as many Rutas as we have gold, and we must first acquire the gold necessary to fill the public coffers. I propose, based upon our GDP and surplus over the years, that we can gain at least 1.2 trillion Rutas worth of gold in installments, using our surpluses, over the next 10 years, including a large portion of the surplus we have already accumlated. |
Proposals
Debate
These messages have been posted to debate on this bill:
| Date | 01:45:54, June 25, 2009 CET | From | Rutanian Heritage Party | To | Debating the Gold Standard Act of 2776 |
| Message | This legislation has our full support. This would stabilize the Ruta, ensuring that it is not subject to the many peaks and trophs of the global financial market, and prevent inflation. |
| Date | 14:37:21, June 25, 2009 CET | From | Humanist Alliance | To | Debating the Gold Standard Act of 2776 |
| Message | The Humanist Alliance finds it difficult to understand why the Parliament of Rutania would go back to such an archaic system. To assume that t he price of gold will increase as the stock market crashes is incorrect, because as we all know, it's wildly unpredictable. So many other countries have abandoned this system in favor of the fiat currency system because they realize there are many more benefits with the latter. We are also opposed to t he price tag, which could be invested into government programs to help those who have been neglected by the government for so long. The HA will not pay 1.2 trillion dollars to take a giant leap backwards into last century. |
| Date | 15:11:50, June 25, 2009 CET | From | Rutanian Elitist Party | To | Debating the Gold Standard Act of 2776 |
| Message | The REP fully supports the initiative of the OP. |
| Date | 17:31:14, June 26, 2009 CET | From | Rutanian Restoration Party | To | Debating the Gold Standard Act of 2776 |
| Message | My apologies, please refrain from voting until after the elections. It matter anyhow. |
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Voting
| Vote | Seats | |||
| yes | Total Seats: 110 | |||
| no | Total Seats: 120 | |||
| abstain | Total Seats: 75 |
| Random fact: Hundreds of vessels were lost while traversing the cold waters of the Sea of Lost Souls. It is located between Seleya and Majatra. |
| Random quote: "You have to remember one thing about the will of the people: it wasn't that long ago that we were swept away by the Macarena." - Jon Stewart |