Currencies

The Economics Committee
The Economics Committee is charged with determining the value of currencies. The Economics Committee is an Independent organisation run by the host SeventyTrash125. In this page we will outline the procedures and information regarding currency and the EC's role in it.

International Currency
The International Currency is managed by the Economics Committee. It is used for purchasing land to establish a town, expanding your town, the RA International Law charges, and at the RA admin market. The International Currency is a heavily regulated public currency that is referenced for exchange rates.

Unregulated Currency
Unregulated Currency is a currency established by a town that is not regulated by the EC. This currency will not be listed on the value index and cannot be exchanged for international currency. Towns can create their own unregulated currency for free however the EC advises against that as it has minimal benefits and is easy to commit fraud with

Regulated Currency
Regulated Currency is a currency established by a town that is regulated by the EC. Towns will have to send reports to the EC about their economy with that currency on a weekly basis. The currency will be listed on the value index and can be exchanged for international currency.

In order for a town to apply for their own regulated currency they must:
- Pay $200 of international currency to the EC

- Create bills with only signed books

- 200 whatever, of your town's currency

Creating the actual currency:
 * 1) A town leader must write a book stating their currency name, the value, what town or union it is apart of, and must add that it is only valid if "original" and the date it was established on
 * 2) After that, the leader may sign the book to make it a currency note
 * 3) They can make multiple notes (ex. One, One Hundred, Ten, etc.)
 * 4) They must give all their starting notes to the host
 * 5) They must tell the host how much copies they want of each allowing the books to remain titled as "original", (the EC also requires the town give them at least 200 of their currency)
 * 6) The host will record the amount of money in the EC's records
 * 7) Depending on the amount of money the town has created, will affect it's exchange rate on the value index

Establishing the Value Index
The EC will determine the value of the town's currency compared to the international dollar. The affects measured are

- Inflation (Amount of money in the total currency)

- Supply and Demand (Similar to Inflation)

- Circulation (Is the currency actually being used?)

- Government Debt (Does your town owe money?)

- Political Stability (Is the town where the currency is most commonly used, politically stable?)