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Bill: LDP-92: Financial System Reform
Details
Submitted by[?]: National Monarchist Party of Hutori
Status[?]: defeated
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: May 4137
Description[?]:
| This bill was proposed by Jean-Claude Bernier (LDP-RO), Minister of Finance. This bill will additionally: - Create the Financial Regulation Agency, which will take the place of the central bank in regulating the financial sector. |
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.
Article 2
Proposal[?] to change
The government's policy regarding foreign investments.
Old value:: Foreign investors may invest in national companies, but may not get a majority share.
Current: Foreign investors need to obtain government approval for all investments in national companies.
Proposed: Foreign investors may freely invest in national companies.
Debate
These messages have been posted to debate on this bill:
| Date | 20:21:54, December 13, 2016 CET | From | National Monarchist Party of Hutori | To | Debating the LDP-92: Financial System Reform |
| Message | "Mr. Speaker, I open this bill for debate." - Jean-Claude Bernier (LDP-RO) Minister of Finance |
| Date | 20:27:13, December 13, 2016 CET | From | Federal Heritage Party of Hutori | To | Debating the LDP-92: Financial System Reform |
| Message | Mr. Speaker, We can definitely support article two however, we see article one as dangerous. Our central bank regulates our currency, helps regulate our economy and keeps our economy healthy. We cannot in good conscience see the abolishment of our central bank. Senator Michael Partridge (F-AD) Federalist Senate Leader |
| Date | 20:30:22, December 13, 2016 CET | From | National Monarchist Party of Hutori | To | Debating the LDP-92: Financial System Reform |
| Message | "Mr. Speaker, The central bank was already taken out of the business of regulating our currency when the Gold Standard was put in place. The only thing our central bank does is issue currency, which our treasury can do, and regulate the financial sector, which will be replaced by the FRA." - Jean-Claude Bernier (LDP-RO) Minister of Finance |
| Date | 20:39:56, December 13, 2016 CET | From | Federal Heritage Party of Hutori | To | Debating the LDP-92: Financial System Reform |
| Message | Mr. Speaker, The central bank still regulates our currency by maintaining the amount of gold our treasury has. Furthermore, they regulate our economy by manipulating interests rates and they insure our banks. Would this be completely taken over by the FRA? In all honesty we see our central bank as an institution to be preserved as it has seen us through many of the economic crises that have been brought on us by the multitudes of socialist agendas. Senator Michael Partridge (F-AD) Federalist Senate Leader |
| Date | 16:07:46, December 14, 2016 CET | From | Liberal Party of Hutori | To | Debating the LDP-92: Financial System Reform |
| Message | Madam.Speaker, The central bank is what regulates credit control in the country and prints currency,And it's advice is very important to the government,The absence of such a regulative Banking authority would harm our country"s economic reputation and unfair business practices may come to the fore in absence of the central bank. Thank you, Mrs.Philippa Blake, NDPH Leader and Senator For Saint Adrian-University of Kenai seat |
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Voting
| Vote | Seats | ||||
| yes | Total Seats: 104 | ||||
| no |
Total Seats: 324 | ||||
| abstain | Total Seats: 172 |
| Random fact: Moderation reserves the discretion to declare RP laws invalid if the players supporting them are doing so in an excessively confrontational way. |
| Random quote: "Sometimes democracy must be bathed in blood." - Augusto Pinochet |