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Bill: Central Bank Dissolution and Gold Standard Act
Details
Submitted by[?]: Reform Party
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: August 2934
Description[?]:
| The Reform Party believes that the central banking system is inherently flawed and despotic, and that it should therefore be dissolved. The government's Central Bank currently exercises undue, tyrannical power over Rutania's currency, including the printing of unbacked fiat money created out of thin air, causing inflation and allowing the possibility for defecit spending and government debt, and the manipulation of interest rates causing the devaluation of money, which is essentially tantamount to a form of hidden taxation. This monopoly concentrates power over currency into the hands of a small group of unelected bankers, who essentially have the capacity to influence the entire economy and the livelihood of the Rutanian people at the drop of a hat. As an alternative, The Reform Party proposes that Rutania's fiat currency, which has no objective value, leaving it constantly susceptible to devaluation, be replaced by a hard currency system - specifically, the Gold Standard. With a Gold Standard, Rutania's dollar will be measured by a fixed weight of gold, leading to a more stable currency and economy and preventing the inflationary, exessive issuance of paper money. |
Proposals
Article 1
Proposal[?] to change The banking system.
Old value:: The government operates a central bank and all other banks are private.
Current: The government operates a central bank and all other banks are private.
Proposed: All banks are privately owned.
Debate
These messages have been posted to debate on this bill:
| Date | 15:22:45, May 04, 2010 CET | From | Rutanian Elitist Party | To | Debating the Central Bank Dissolution and Gold Standard Act |
| Message | We congratulate for the RP on this bill. Fully supported. |
| Date | 09:16:02, May 05, 2010 CET | From | Rutanian Restoration Party | To | Debating the Central Bank Dissolution and Gold Standard Act |
| Message | We support this bill, and the Finance Ministry will release a new budget if it passes. Our logic behind the last budget was that if we have the Central Bank, why not use it? Now we can avoid that altogether, and we are ardent supporters of the gold standard. |
| Date | 12:56:54, May 05, 2010 CET | From | Freedom Party | To | Debating the Central Bank Dissolution and Gold Standard Act |
| Message | Freedom supports the proposal to remove the Central Bank. Valerie Atkins Freedom Party Ldr |
| Date | 22:44:38, May 05, 2010 CET | From | Reform Party | To | Debating the Central Bank Dissolution and Gold Standard Act |
| Message | Given the indications of support for this bill, we will move it to a vote. |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 384 | ||||
| no | Total Seats: 0 | ||||
| abstain | Total Seats: 116 |
| Random fact: Particracy is set in the fictional world of Terra, which mirrors the real world of today and yet is not quite like it. |
| Random quote: "It is obvious that the laissez-faire ideology represents the interests of big business. For decades, the right-wing has opposed welfare programs and nationalised companies, in favour of big business disguised under 'economic liberty'." - Cecilia Xu, former Gaduri politician |