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Council of Governors

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1 Council of Governors on Mon Feb 06, 2017 1:08 am

Thank you all for coming to this emergency session of the Council of Governors. I congratulate you all on having been elected, or in the case of the familiar faces I see in the room, re-elected. I, however would like to get right down to brass tacks. I have some legislation to propose. As you are aware, one of the greatest failings of the last government was its inability to provide Echain with a currency. This had major effects and eroded our stability greatly.

Bill 001A

I will warn you. This legislation does usurp powers granted under the constitution to the National Bank. Voting for this legislation will show your willingness for this emergency session to amend the constitution.



Last edited by Governor WhiskeyWhiskers on Mon Feb 06, 2017 1:14 am; edited 1 time in total

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2 Re: Council of Governors on Mon Feb 06, 2017 1:11 am

I am sorry to bring this up but I would delay this vote until we have decided on the new Secretary of Defence. The candidates are Field Marshal WarWager17 and Admiral Krenzler.

I am abstaining for obvious reasons.

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3 Re: Council of Governors on Mon Feb 06, 2017 1:16 am

Is there a vote somewhere for that already? I'm sure we are capable of voting on two things at once.

I vote for the Field Marshall.

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4 Re: Council of Governors on Mon Feb 06, 2017 1:18 am

We can simply vote on this right here and now, I imagine it wont take long.
Again the only two feasible candidates with any experience are Field Marshal WarWager17 and Admiral Krenzler. I would be uncomfortable appointing someone else other than these two. I will vote only if there is a tie.


OOC: Will there be someone like the Foreman of the Senate?.

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5 Re: Council of Governors on Mon Feb 06, 2017 1:43 am

OOC: Doubtful. We're all equals here and anyone should be able to introduce their own bills.

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6 Re: Council of Governors on Mon Feb 06, 2017 4:08 am

Firstly regarding the Secretary of Defence, Sir WarWager17 has shown his dedication to our nation on the fields of honour. If Sir Bradley3000 is not to continue his post, as it is now, I see him as the best candidate for the position.

Secondly, regarding Governor WhiskeyWhiskers proposal.
Excuse my harsh words Sir but "Labour Vouchers" as the sole currency?! Such a thing is unthinkable to me. Such an action would isolate our citizens from any form international economy and travel.
I see this bill as a danger to the rights of Echains citizens and belief we should continue the route of the Espada with all our power.
As this Bill stands, I vote Nay.

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7 Re: Council of Governors on Mon Feb 06, 2017 4:17 am

I would ask how exactly this isolates us any more than the Espada? It protects us from outside influences, but in no way hinders travel or imports.

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8 Re: Council of Governors on Mon Feb 06, 2017 4:22 am

"Due to the state of emergency, Governor Proudmoore is currently missing and until she show back up or an election is held, I will be taking over as interm-governor." Mr. Gollvieg looks through the Bill, he frowns. "This Bill is not feasible, it will undercut the value of individual craftsman and entrepreneurs. The people have a right to attach a value to their own goods and be able to sell their goods internationally. It also undercuts the value of the Espada and will delay the full implementation of the Espada. It also creates a value disparity between each Region as each Region will not be subject to a single standard. It also creates a sociological issue as there will be no reward for craftmanship and entrepreneurialism."

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9 Re: Council of Governors on Mon Feb 06, 2017 4:23 am

With the Espada, which it normal currency, we have a exchange rate and function like the rest of the world.
Than please explain me how, for example a man from Central, is supposed to pay for anything in the USA, Australia or wherever with your Labour Vouchers? Please clear this up for me.

To Gollvieg As I read it, if this bill passes, there will be no Espada anymore, so there would be nothing to undercut, which makes it just scarier as far as I am concerned.

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10 Re: Council of Governors on Mon Feb 06, 2017 4:27 am

"On the Issue of the Labor Vouchers, they do not represent a clear solution that outweighs the full implementation of the Espada and thus I will vote nay for the bill as is."

"Also, I agree that WarWager should become the new MoD"

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11 Re: Council of Governors on Mon Feb 06, 2017 4:37 am

If we were to allow exporters to sell their products overseas individually we would have a race to the bottom to compete. A national board would be best, but I didn't think feasible. If we establish export boards we will have far more leverage with which to bargain due to less downward pressure on the price.

We can organise exchange rates between LVs and the US dollar for those travelling overseas. There is no issue there. We will have reserves in USD with which to make those exchanges. If they were trying to import goods into Echain, they would go to the import store and pay for the goods in LVs. This also makes imports cheaper by being able to purchase wholesale.

The Espada is too volatile. Being pegged to rubber is a major issue and adds no stability. The US dollar is stable and internationally appealing. The Labour Voucher is pegged directly to all productivity in Echain. A far more stable force than the demand for a single commodity. Yes, the intent was to replace the Espada.

I also wholly reject there would be issues created with entrepreneurialism and would ask what led you to such a conclusion.

e:OOC also in history the Bretton Woods Agreement has just come into effect so USD is the world's reserve currency. It makes more sense to use USD or peg our currency to USD than create a new volatile currency based on rubber, which can already be synthesised by industrial economies. Moving into the Bretton Woods System means we can likely get aid from the IMF far easier.

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12 Re: Council of Governors on Mon Feb 06, 2017 5:16 am

The creation of the Import/Export Board creates an artificial barrier to exporting and thus limits Echaini Based Companies greatly, while foreign companies do not have this problem because they are free to trade to other countries besides Echain, this creates a massive export disparity as Echani goods are not exported and black market imports are made more profitable.

If we set the currency on a floating Regime, the currency will be based around how much we Export/Import. If we import more goods than we export, foreign goods naturally gets more expensive to Echani consumers while Echani Goods become cheaper for Foreign countries, increasing exports and decreasing imports. We can also focus on increasing local industry in order to make domestic goods cheaper for Echaini citizens.

OOC: Oh my god, DO NOT tie your currency to another country's currency. It will create a situation where your local currency will not be used in favor of directly using the USD, this makes corruption and crime skyrocket as it is so much easier for foreign companies to bribe officials in USD. Also depending on help from any outside country for more than 5 years will cripple the country for more than 80. It is a common tactic for the WTO to destroy African countries this way. The way I see it, the only way we can survive is to replicate the Japanese Miracle by increasing local industry, creating business friendly laws, focus on domestic consumption and exporting, and steal foreign technology and industry by sending students overseas or importing foreign educators.

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13 Re: Council of Governors on Mon Feb 06, 2017 5:22 am

OOC: It's 1946. We don't know these problems. And floating currencies don't exist. Tying currency to another's is still used by many Pacific nations today.

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14 Re: Council of Governors on Mon Feb 06, 2017 5:26 am

Governor WhiskeyWhiskers wrote:OOC: It's 1946. We don't know these problems. And floating currencies don't exist. Tying currency to another's is still used by many Pacific nations today.

OOC: Which made them weak, corrupt, and owned by major corps... yay

These issues are well understood by the Japanese in the 1900s and during this period they relied on Trade Goods and which still simulate a floating currency

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15 Re: Council of Governors on Mon Feb 06, 2017 5:35 am

The creation of the import/export board allows us to invest in domestic infrastructure and industry without the need for taxes. There is no reason to believe the import/export board would be incapable of promoting our exports abroad. If necessary they can lower their prices well below what farmers and craftsmen could, while still paying a livable wage to the craftsmen and farmer.

OOC:Floating exchange would be terrible for Echain at the moment. We're far too volatile. We need to stabilise before thinking about floating exchange.

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16 Re: Council of Governors on Mon Feb 06, 2017 5:42 am

"There is no point in focusing on foreign export if our current production is not enough to satisfy domestic consumption. All this Import/Export board will do is profit the Government and artificially creates a barrier to trade along with creating a rampant black market economy. Before we get all trigger happy about foreign trade, we should focus on increasing local production. Why are we selling our food and tools to foreigners when the vast majority of the country is unable to feed themselves without assistance? We should focus on increasing food production first before we try to sell resources outside of Echain."

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17 Re: Council of Governors on Mon Feb 06, 2017 5:46 am

First, I vote for Marshal WarWager's candidacy for the post of Delegate for Defense.

Second, on the matter of currency.
I am of two opinions on the matter, but first, please, let me to explain the situation of Espada, as I have some training in policy of money.
The major one being that Espada can be bought, from the National Bank, either for silver or USD. Furthermore, it is also backed by that silver, albeit partially, and, lastly, even a currency based on "weak rubber" is far more robust than vouchers.

To add to this, the bill proposes we strangle our economy with undue regulation on exports, which will only promote each region's attempts at self-sustainability. This may not be an issue for agricultural Plainsdale, but for other regions, it would mean a major shift into food production, not to mention that some regions don't even have enough fertile land to sustain them - see Northport.
Ultimately, such strangling of trade would lead to loss of specialisation in our regions. It would also gift power solely to Plainsdale, the only region with significant surplus of food production.
Not to mention the fact that trading in USD would further erode Espada.

This bill changes the Constitution twice; first, it throws Espada overboard, second, it seeks to impose boundaries on inter-regional trade.
Disposing of Espada is nonsensical and rushed. It just started circulating and was not yet tested. What message would we send by supplanting it with rationing and the dollar? We should help Espada, not burn it down!
As for trade, I understand that this would move us closer to the policy of state capitalism which socialists may prefer, but there's a reason free trade between the regions was stipulated in the Constitution.
It is so each region can focus on their own strengths, and so they each can have their own internal economic systems not just to serve local sentiment, but also to strengthen Echain as a whole. If a system in one region should fail, Echain as a whole, with plurality of economic establishments, shall stand undiminished.

In a while I will be proposing my own counter-initiative to this bill, as well as bill on immigration.

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18 Re: Council of Governors on Mon Feb 06, 2017 5:51 am

To increase our crop yields we need to focus on mechanisation. To do that we'll need to either build a local industry manufacturing farm machinery, or importing farm machinery directly. Either way we'll need to begin importing machinery. Our people do not have the capacity to import anything at the moment. We need reserves to be able to purchase such equipment, so focusing on exports will be the easiest way to increase our trade balance and improve our domestic situation at the same time.

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19 Re: Council of Governors on Mon Feb 06, 2017 5:52 am

This bill does not attempt to regulate inter-regional trade at all. I would make that clear. The import-export boards are only for external trade.

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20 Re: Council of Governors on Mon Feb 06, 2017 5:56 am

Felix Clary zu Osegg wrote:First, I vote for Marshal WarWager's candidacy for the post of Delegate for Defense.

Second, on the matter of currency.
I am of two opinions on the matter, but first, please, let me to explain the situation of Espada, as I have some training in policy of money.
The major one being that Espada can be bought, from the National Bank, either for silver or USD. Furthermore, it is also backed by that silver, albeit partially, and, lastly, even a currency based on "weak rubber" is far more robust than vouchers.

To add to this, the bill proposes we strangle our economy with undue regulation on exports, which will only promote each region's attempts at self-sustainability. This may not be an issue for agricultural Plainsdale, but for other regions, it would mean a major shift into food production, not to mention that some regions don't even have enough fertile land to sustain them - see Northport.
Ultimately, such strangling of trade would lead to loss of specialisation in our regions. It would also gift power solely to Plainsdale, the only region with significant surplus of food production.
Not to mention the fact that trading in USD would further erode Espada.

This bill changes the Constitution twice; first, it throws Espada overboard, second, it seeks to impose boundaries on inter-regional trade.
Disposing of Espada is nonsensical and rushed. It just started circulating and was not yet tested. What message would we send by supplanting it with rationing and the dollar? We should help Espada, not burn it down!
As for trade, I understand that this would move us closer to the policy of state capitalism which socialists may prefer, but there's a reason free trade between the regions was stipulated in the Constitution.
It is so each region can focus on their own strengths, and so they each can have their own internal economic systems not just to serve local sentiment, but also to strengthen Echain as a whole. If a system in one region should fail, Echain as a whole, with plurality of economic establishments, shall stand undiminished.

In a while I will be proposing my own counter-initiative to this bill, as well as bill on immigration.

^ OOC: I trust this crazy M'fer who obviously had too much time to think about economics.

IC: "There is no need for us to import foreign machinery when we have local factories and industry popping up in Northport right now. We have plenty of new workers and expertise since the Refugees landed in the country and we can equalize the labor expertise by creating adult education facilities.

Mr. Gollvieg turns to Felix, "I'm sorry but I never been introduced to you. My name is Interm-Governor Gollvieg of Aberisk, who do I have the pleasure of meeting?"

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21 Re: Council of Governors on Mon Feb 06, 2017 5:56 am

First off, a vote for the Field Marshall for MoD.

Secondly, I wonder why we cannot simply peg the Espada to the US Dollar? This would give the currency the stability and creditability it needs to do business abroad and be taken seriously domestically. Even disregarding the hassle of introducing yet enough legal tender into the economy, the introduction of these labour vouchers and establishment of import/export boards seems to be a bit too... communist to me. Or controlled-market, at least. While I appreciate the intent, if all trade must go through these bodies, I cannot but see them as potential gatekeepers for free trade. We should be encouraging entrepeneurial ventures at this stage, and I believe that these trade boards would form an impediment for that.

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22 Re: Council of Governors on Mon Feb 06, 2017 6:00 am

Espada is, in a way, tied to the dollar. 1 ESP is backed by the value of 0,3 grams of silver (0,3 grams of silver = 1 USD (2017)); however, foreign and domestic entities can only buy Espada from the National Bank by either exchanging 0,3 grams of silver, or an equivalent in an IMF (International Monetary Fund) reserve currency. Right now, the only reserve currency is the Dollar under the Bretton-Woods system, and Dollar is officially backed by gold.

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23 Re: Council of Governors on Mon Feb 06, 2017 6:00 am

One of the major problems we have faced is with corporations posing an existential threat to our republic. The 'communist' feeling you have is entirely the intent of the bill. It is intended to remove the ability for capital accumulation. To stop those with money making money simply from owning that money. To destroy capital.

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24 Re: Council of Governors on Mon Feb 06, 2017 6:03 am

Cecasander wrote:First off, a vote for the Field Marshall for MoD.

Secondly, I wonder why we cannot simply peg the Espada to the US Dollar? This would give the currency the stability and creditability it needs to do business abroad and be taken seriously domestically.

"The problem with using the USD as the basis of our economy is that in order to do it we have to start buying a massive amount of USD. We can't do it with Espada so we must do it with Trade Goods or Trade Metal. Which defeats the purpose because we could back the economy directly by mining for trade metal and stablise our economy by domestic consumption.Also it will create a situation where the people will use the USD instead of the Espada because it is simply more valuable which creates an open door for corruption and black market goods."

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25 Re: Council of Governors on Mon Feb 06, 2017 6:05 am

Why would USD be used over labour vouchers when only the government is using USD in trade and it's not being circulated in the country?

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