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Bill: Audit the Central Bank Act
Details
Submitted by[?]: Progressive Populist Party
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: December 4438
Description[?]:
| The Central Bank is an unconstitutional agency of powerful, unelected bureaucrats. We propose that its cash flow be immediately audited and then promptly put under Legislative oversight. |
Proposals
Article 1
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 national legislature.
Debate
These messages have been posted to debate on this bill:
| Date | 21:31:16, August 12, 2018 CET | From | Republican Centrist Alliance | To | Debating the Audit the Central Bank Act |
| Message | Economic theory and massive amounts of empirical evidence make a strong case for maintaining the Fed's independence. When central banks are subjected to political pressure, authorities often pursue excessively expansionary monetary policy in order to lower unemployment in the short run. This produces higher inflation and higher interest rates without lowering unemployment in the long term. This has happened over and over again in the past, not only in Likatonia but in many other countries throughout the world. That is why the National Bank (Federal Reserve) ought to be a political and free from any kind partisan and shortsighted political pressure and only work in the best interests of the people and the economy. George Carter Party Chairman of the Republican Centrist Alliance. |
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Voting
| Vote | Seats | ||||
| yes | Total Seats: 107 | ||||
| no |
Total Seats: 115 | ||||
| abstain | Total Seats: 43 |
| Random fact: Players have a responsibility to differentiate between OOC (out-of-character) and IC (in-character) behaviour, and to make clear when they are communicating in OOC or IC terms. Since Particracy is a role-playing game, IC excesses are generally fine, but OOC attacks are not. However, players must not presume this convention permits them to harass a player with IC remarks that have a clear OOC context. |
| Random quote: "Wherever you have an efficient government, you have a dictatorship." - Harry S. Truman |