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Locked Topic
Currency Standards Act; Proposed by The Inevitable Syndicate
Topic Started: Thursday Jan 17 2013, 08:58 PM (23 Views)
Culture of Life
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William F. Buckley

What are your opinions on this upcoming General Assembly proposal?

Remember that World Assembly members are free to vote however they want on proposals.


Currency Standards Act
Proposed by The Inevitable Syndicate
Currency Standards Act
Category: Free Trade
Strength: Significant
Proposed by: The Inevitable Syndicate


The World Assembly,

NOTING that many nations use a form of currency in which to trade for goods and services,

RECOGNIZING that sometimes these currencies may be counterfeited, causing organisations that counterfeit this currency to profit unfairly,

CONCERNED that this can cause an unfair imbalance to a nations currency, causing devaluation of such currency, affecting international trade,

FURTHER CONCERNED that such counterfeit currency may be used by organizations and or individuals whom unknowingly acquire such currency, and the confiscation of said currency may harbor a loss to traders,

MANDATES:

1. All nations that have an official form of currency have at least three methods of identifying legitimate tender, be they physical or electronic.

2. Any illegitimate tender found must be confiscated and removed from the market, but traders who can prove they did not create it must be reimbursed up to 5% of their loss.

CREATES the Currency Standards Union (CSU) in order to ensure and advise nations on upholding these policies.

ALLOWS the CSU to accept donations from nations in the WA, in order to fund the reimbursement of currency confiscated from traders.

REALISING that some nations choose not to use any sort of regulated currency,

This resolution RECOGNIZES their inherent right to do so shall not be infringed by this resolution.
The Christian Democratic Nation of Culture of Life
------------------------------------------
Pope Saint John Paul II
 
Saint Teresa of Calcutta
 
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Culture of Life
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William F. Buckley

AGAINST

I do not believe an international body should regulate national currencies. National governments should be responsible for overseeing their own currencies. Furthermore, I do not approve of the requirement that traders "must be reimbursed up to 5% of their loss" if counterfeit money is confiscated from them.
The Christian Democratic Nation of Culture of Life
------------------------------------------
Pope Saint John Paul II
 
Saint Teresa of Calcutta
 
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