Title: Free Exchange Act (Failed) Post by: bore on December 06, 2014, 08:35:26 AM Quote Free Exchange Act 1. All Federal legislative provisions and statutes bestowing legal tender status onto any currency, commodity, or note are hereby rendered null and void. 2. No person, business, or other private entity may be compelled to accept any currency, commodity, or note as payment for any debts or dues, unless such payment is required by a legally-binding contract. 3. Taxes, public debts, and other Federal government dues will continue to be paid in Federal Reserve Notes (FRN's). Sponsor: Deus Title: Re: Free Exchange Act (Debating) Post by: windjammer on December 06, 2014, 08:45:36 AM I don't understand this bill????
Deus, could you explain? Title: Re: Free Exchange Act (Debating) Post by: TNF on December 06, 2014, 02:24:48 PM I'd rather not cede (more) control of our currency to bankers, thanks.
Title: Re: Free Exchange Act (Debating) Post by: MyRescueKittehRocks on December 06, 2014, 03:38:34 PM If the current Atlasian Constituition is anything like the US in terms of legislative powers, the coining and issuance of currency is a responsibility of the legislative branch of government. Not some private bank.
Title: Re: Free Exchange Act (Debating) Post by: Fmr President & Senator Polnut on December 06, 2014, 07:24:55 PM All I can say to this Bill is "wha?"
Good to know the Senate's time is being put to good use. Motion to table. Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 06, 2014, 10:27:18 PM All I can say to this Bill is "wha?" Good to know the Senate's time is being put to good use. Motion to table. Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 06, 2014, 10:32:52 PM If the current Atlasian Constituition is anything like the US in terms of legislative powers, the coining and issuance of currency is a responsibility of the legislative branch of government. Not some private bank. In any case, this bill wouldn't stop the Federal government from issuing currency. It would simply allow private citizens and businesses to choose alternatives if they so desired. Title: Re: Free Exchange Act (Debating) Post by: Fmr President & Senator Polnut on December 06, 2014, 11:49:48 PM All I can say to this Bill is "wha?" Good to know the Senate's time is being put to good use. Motion to table. My apologies. I will withdraw my motion and ask the Senator what benefit this Bill would have and why this Senate should support this measure. Title: Re: Free Exchange Act (Debating) Post by: Bacon King on December 06, 2014, 11:55:51 PM I find this law to be unnecessary- it's already perfectly legal to use alternative currencies for the purchase of goods and services, and vendors can legally refuse payment in USD before the final point of sale (i.e. before a debt is owed). Even when multiple currencies exist it's necessary to have a legal tender for private debt in order to prevent ambiguity (i.e., when you're done eating at a restaurant and you owe them a debt - in the form of a check - legal tender laws prevent the owner from forcing you to pay in bitcoins)
Title: Re: Free Exchange Act (Debating) Post by: Cranberry on December 07, 2014, 06:46:15 AM Maybe that's the (pinko) European in me speaking, but I do feel that it is certainly preferable to have a central authority controlling our currency, and in that way our monetary policy. Such an important point as money is for me better left to the government...
Title: Re: Free Exchange Act (Debating) Post by: MyRescueKittehRocks on December 07, 2014, 03:23:25 PM If the current Atlasian Constituition is anything like the US in terms of legislative powers, the coining and issuance of currency is a responsibility of the legislative branch of government. Not some private bank. In any case, this bill wouldn't stop the Federal government from issuing currency. It would simply allow private citizens and businesses to choose alternatives if they so desired. Ok. I see no problem with that. Title: Re: Free Exchange Act (Debating) Post by: bore on December 07, 2014, 03:26:17 PM I look forward to the brave new world of
Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 07, 2014, 06:43:33 PM All I can say to this Bill is "wha?" Good to know the Senate's time is being put to good use. Motion to table. My apologies. I will withdraw my motion and ask the Senator what benefit this Bill would have and why this Senate should support this measure. I'll post an advocacy later tonight. Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 08, 2014, 04:16:10 AM This bill is fairly simple. It would allow individuals and institutions to negotiate contracts requiring payment in currencies/commodities other than Federal Reserve Notes. It wouldn't alter Atlasian monetary policy or prevent those who wish to use from FRN's from ceasing to do so, it would simply allow consenting parties to use alternatives if they so desire. There are many reasons why people may wish to use alternative currencies or other forms of payments (I can go into detail if anyone would like), and I see little reason why they should be prohibited from doing so.
Title: Re: Free Exchange Act (Debating) Post by: Fmr President & Senator Polnut on December 08, 2014, 04:19:04 AM This bill is fairly simple. It would allow individuals and institutions to negotiate contracts requiring payment in currencies/commodities other than Federal Reserve Notes. It wouldn't alter Atlasian monetary policy or prevent those who wish to use from FRN's from ceasing to do so, it would simply allow consenting parties to use alternatives if they so desire. There are many reasons why people may wish to use alternative currencies or other forms of payments (I can go into detail if anyone would like), and I see little reason why they should be prohibited from doing so. I would like some detail as to why someone wouldn't use legal tender? Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 08, 2014, 04:20:15 AM Even when multiple currencies exist it's necessary to have a legal tender for private debt in order to prevent ambiguity (i.e., when you're done eating at a restaurant and you owe them a debt - in the form of a check - legal tender laws prevent the owner from forcing you to pay in bitcoins) Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 08, 2014, 04:24:11 AM Maybe that's the (pinko) European in me speaking, but I do feel that it is certainly preferable to have a central authority controlling our currency, and in that way our monetary policy. Such an important point as money is for me better left to the government... Title: Re: Free Exchange Act (Debating) Post by: Fmr President & Senator Polnut on December 08, 2014, 04:27:47 AM Maybe that's the (pinko) European in me speaking, but I do feel that it is certainly preferable to have a central authority controlling our currency, and in that way our monetary policy. Such an important point as money is for me better left to the government... Would this enable private individuals to print their own currency... assuming that others would be prepared to accept it? Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 08, 2014, 04:34:18 AM This bill is fairly simple. It would allow individuals and institutions to negotiate contracts requiring payment in currencies/commodities other than Federal Reserve Notes. It wouldn't alter Atlasian monetary policy or prevent those who wish to use from FRN's from ceasing to do so, it would simply allow consenting parties to use alternatives if they so desire. There are many reasons why people may wish to use alternative currencies or other forms of payments (I can go into detail if anyone would like), and I see little reason why they should be prohibited from doing so. I would like some detail as to why someone wouldn't use legal tender? Whatever the case, I'm sure that most people will continue to use FRN's if this bill passes. I simply see no reason those who might not wish to from doing so. Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 08, 2014, 04:34:52 AM Maybe that's the (pinko) European in me speaking, but I do feel that it is certainly preferable to have a central authority controlling our currency, and in that way our monetary policy. Such an important point as money is for me better left to the government... Would this enable private individuals to print their own currency... assuming that others would be prepared to accept it? Title: Re: Free Exchange Act (Debating) Post by: Fmr President & Senator Polnut on December 08, 2014, 04:41:58 AM Maybe that's the (pinko) European in me speaking, but I do feel that it is certainly preferable to have a central authority controlling our currency, and in that way our monetary policy. Such an important point as money is for me better left to the government... Would this enable private individuals to print their own currency... assuming that others would be prepared to accept it? That is true. I'm pretty sure bartering is not illegal. I'm just not sure what problem is being solved by this Bill, when a lot of it is accepted and not illegal. Title: Re: Free Exchange Act (Debating) Post by: TNF on December 08, 2014, 09:27:06 AM So will this bill also allow companies to pay their employees in monopoly money?
Title: Re: Free Exchange Act (Debating) Post by: Cranberry on December 08, 2014, 12:54:54 PM Maybe that's the (pinko) European in me speaking, but I do feel that it is certainly preferable to have a central authority controlling our currency, and in that way our monetary policy. Such an important point as money is for me better left to the government... Oh I do know that, but wouldn't it (correct me if I'm wrong) take away the "monopoly" for the Fed to control this issuing of currency. And I believe that the state should have the monopoly on that, otherwise people could just go out and print as much money as they want - the economy just wouldn't survive that. As said, probably this is my European point of view, but there needs to be someone who controls all this, at least in my opinion. Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 09, 2014, 12:07:54 AM So will this bill also allow companies to pay their employees in monopoly money? Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 09, 2014, 12:09:46 AM Maybe that's the (pinko) European in me speaking, but I do feel that it is certainly preferable to have a central authority controlling our currency, and in that way our monetary policy. Such an important point as money is for me better left to the government... Oh I do know that, but wouldn't it (correct me if I'm wrong) take away the "monopoly" for the Fed to control this issuing of currency. And I believe that the state should have the monopoly on that, otherwise people could just go out and print as much money as they want - the economy just wouldn't survive that. As said, probably this is my European point of view, but there needs to be someone who controls all this, at least in my opinion. Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 09, 2014, 12:13:52 AM Maybe that's the (pinko) European in me speaking, but I do feel that it is certainly preferable to have a central authority controlling our currency, and in that way our monetary policy. Such an important point as money is for me better left to the government... Would this enable private individuals to print their own currency... assuming that others would be prepared to accept it? That is true. I'm pretty sure bartering is not illegal. I'm just not sure what problem is being solved by this Bill, when a lot of it is accepted and not illegal. Title: Re: Free Exchange Act (Debating) Post by: TNF on December 09, 2014, 04:01:55 AM So will this bill also allow companies to pay their employees in monopoly money? What worker has the ability to tell his employer what she wants to be paid, and in this instance, what she wants to be paid in? Do you have any understanding of the 19th Century? Because employers did, and if this bill passes, will begin to pay the lowest of the low paid in company scrip as a means of asserting total control over every aspect of their lives. I'd rather not give them the opportunity. Title: Re: Free Exchange Act (Debating) Post by: Cranberry on December 09, 2014, 12:30:44 PM Maybe that's the (pinko) European in me speaking, but I do feel that it is certainly preferable to have a central authority controlling our currency, and in that way our monetary policy. Such an important point as money is for me better left to the government... Oh I do know that, but wouldn't it (correct me if I'm wrong) take away the "monopoly" for the Fed to control this issuing of currency. And I believe that the state should have the monopoly on that, otherwise people could just go out and print as much money as they want - the economy just wouldn't survive that. As said, probably this is my European point of view, but there needs to be someone who controls all this, at least in my opinion. Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 09, 2014, 09:50:33 PM So will this bill also allow companies to pay their employees in monopoly money? What worker has the ability to tell his employer what she wants to be paid, and in this instance, what she wants to be paid in? Do you have any understanding of the 19th Century? Because employers did, and if this bill passes, will begin to pay the lowest of the low paid in company scrip as a means of asserting total control over every aspect of their lives. I'd rather not give them the opportunity. Company scrip is a different issue. But, that's already legal (I think? If it's illegal I don't see how this bill would change that). Legal tender laws don't require that only ASD be used to pay employees, they just require that workers accept ASD if their employer wants to pay them with that. Under the current system, an employer and an employee could negotiate a contract specifying payment in non-ASD, but only the employer would have the ability to renege on the agreement. The employee wouldn't be able to demand payment in ASD, since the legal tender statute states that ASD must be accepted "for all debts, public charges, taxes, and dues", not that they must be used as payment for such. At least that's my understanding. Title: Re: Free Exchange Act (Debating) Post by: Southern Senator North Carolina Yankee on December 10, 2014, 02:39:09 AM I generally believe in a free market, but the instability created by a chaotic currency market has had a generally negative effect on the free flow of commerce. Rather then applying a broad standard down to the narrowest of economic sub-policies, it is better in my view to focus on the big picture and then ascertain what approach is best on a sub-policy and if that requires gov't regulation (and thereby said regulation facilitates the overall free market) I think such is the better route to take.
Now that said, nothing of course absolves any central bank of incompetence and poor policy and there should be changes made to the way they operate of course. Title: Re: Free Exchange Act (Debating) Post by: Deus Naturae on December 11, 2014, 12:32:07 AM I generally believe in a free market, but the instability created by a chaotic currency market has had a generally negative effect on the free flow of commerce. Quote Rather then applying a broad standard down to the narrowest of economic sub-policies, it is better in my view to focus on the big picture and then ascertain what approach is best on a sub-policy and if that requires gov't regulation (and thereby said regulation facilitates the overall free market) I think such is the better route to take. Alright. I have no idea how that applies to this bill though.Title: Re: Free Exchange Act (Debating) Post by: Fmr President & Senator Polnut on December 14, 2014, 04:54:22 AM I don't believe there is enough will in the Senate to further this, considering nothing has happened for three days. The Sponsor has presented his case, I believe I have asked my questions, and here has been sufficient time for others. I appreciate Senator Deus' prompt responses.
I am going to motion for a final vote on this. Title: Re: Free Exchange Act (Debating) Post by: Bacon King on December 14, 2014, 05:12:55 AM Second motion for final vote
Title: Re: Free Exchange Act (Debating) Post by: Cranberry on December 14, 2014, 07:00:37 AM I third the motion
Title: Re: Free Exchange Act (Debating) Post by: bore on December 15, 2014, 01:41:26 PM Senators a final vote is now open on this bill, please vote aye nay or abstain
Title: Re: Free Exchange Act (Voting) Post by: bore on December 16, 2014, 06:04:53 AM Nay
Title: Re: Free Exchange Act (Voting) Post by: Fmr President & Senator Polnut on December 16, 2014, 06:15:30 AM NAY
Title: Re: Free Exchange Act (Voting) Post by: TNF on December 16, 2014, 10:24:29 AM Nay
Title: Re: Free Exchange Act (Voting) Post by: windjammer on December 16, 2014, 11:58:02 AM NAY
Title: Re: Free Exchange Act (Voting) Post by: Cranberry on December 16, 2014, 12:47:20 PM Nay
Title: Re: Free Exchange Act (Voting) Post by: Bacon King on December 16, 2014, 01:00:37 PM Nay
Title: Re: Free Exchange Act (Voting) Post by: bore on December 16, 2014, 02:20:10 PM This has enough votes to fail, senators have 24 hours to change their votes
Title: Re: Free Exchange Act (Voting) Post by: Southern Senator North Carolina Yankee on December 17, 2014, 01:17:08 AM Nay I Guess
Title: Re: Free Exchange Act (Voting) Post by: MyRescueKittehRocks on December 17, 2014, 07:38:58 PM Yay
Title: Re: Free Exchange Act (Voting) Post by: bore on December 17, 2014, 07:46:25 PM By a vote of 7-1 this bill has failed the senate
Aye: JCL Nay: Bore, Yankee, Polnut, Bacon King, TNF, Windjammer, Cranberry Not voting: Deus |