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Bill: Banking Act
Details
Submitted by[?]: Aurora Libertatis
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: May 4369
Description[?]:
| Senators, By this act, we reinstitute the Gold Standard for the PON. The Commonwealth Bank shall be bought under the leadership of the Grand Vizier General, once elections for that position have been held. It is vital for our Distributist economics, that we relive our economy from the exploitative big banks and their power to create money (in the form of credits) out of thin air. Banks in the form of local cooperatives will still be allowed, and very much encouraged. Aurora Libertatis |
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 large, national banks, but small community based private banks are allowed.
Proposed: The government operates large, national banks, but small community based private banks are allowed.
Article 2
Proposal[?] to change Central Bank oversight and regulation (if a central bank exists)
Old value:: The central bank is an entirely independent agency of the government.
Current: The central bank is underneath the direct oversight of the head of state.
Proposed: The central bank is underneath the direct oversight of the head of state.
Article 3
Proposal[?] to change Exchange rate regime
Old value:: The exchange rate of the national currency is allowed to float, but the government is permitted to intervene when necessary.
Current: The exchange rate of the national currency is kept within a defined band of fluctuation.
Proposed: The exchange rate of the national currency is fixed by the government.
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | ||
| yes |
Total Seats: 75 | ||
| no |
Total Seats: 0 | ||
| abstain | Total Seats: 0 |
| Random fact: Information about the population of each country can be found on the Population Information thread: http://forum.particracy.net/viewtopic.php?f=5&t=8663 |
| Random quote: "Nature provides a free lunch, but only if we control our appetites." - William Ruckelshaus |