Department of the Treasury - Official Thread

[12th Doctor]

Hello, this will be the official thread of the Sec. of the Treasury for the extent of my time here.

As I have stated in the past, as Treasury Sec. I will fullfill the capacity of, what we call in America, the "Federal Reserve Chairman".  This chairman has the power to sent the money supply, supply of credit to banks and the interest rates of our nations banks.

As such, my first acts will be the following, starting tomorrow:

1) The Federal Interst Rate will be decreased by .5% overall

2) The Federal Funds Rate will be increased by 1% overall

3) The Supply of Federal Reserve Notes will be increased by 1% in all categories

4) The rate ammount of money at which private banks may borrow from the Fed will be increased by 1%

It is my hope that these acts will invigorate our sagging economy.

[12th Doctor]

I will also direct the Federal Reserve to purchase $1 billion in bonds and securities on the open market.  And I will lower the Federal Discount Rate by 1%.

[12th Doctor]

Okay, after a bit more research (provided by John Ford), I have learned that I have made a few fundamental mistakes here.  If would appear that I am learning on the job here.

First, I will set a target to decrease the Federal Funds (Interest) Rate by 0.5% overall.

Second, I will advise the Federal Reserve to purchase $1 billion is securities and bonds over the open market.

Third, I will instruct banks to lower the Required Reserve Ratio by 3% overall.

[12th Doctor]

I am here to announce that I intend to get to work on a deal with the Canadian government and Canadian Oil Companies that would allow us to both fund the expansion of Canadian companies that deal with Oil Sands and import generous amounts of oil from those fields.

As such, I will be off to Ottawa to speak with the Candian Prime Minister and the CEO's of those companies.  While I am gone, I ask the Senate to bring forward a bill to allow for government funding of those companies.  I understand that we are in a budget crunch, but the best way to bring revenues up is to heal our ailing economy.  And the best wat to do that, at the moment, would be to lower the price of oil.  I ask a member of the Senate to introduce a bill to his aim.

[12th Doctor]

It's great to see everyone sitting on their hands.  I intend to be taken very seriously in this job, so someone had better buck up here.

[jokerman]

Blame the GM, not us.

I think you're doing a great job.

[The Duke]

Blame the GM, not us.

I think you're doing a great job.

Blame me for what?

[Bono]

Well, open ways for hiperinflation.

[12th Doctor]

Blame the GM, not us.

I think you're doing a great job.

Blame me for what?

Well, I acctually presummed that the "negotiations" would be carried out with you, but I was acctually complaining about how no one has offered to intruduce a bill yet once we have terms.

[12th Doctor]

Well, open ways for hiperinflation.

Remember, this is not the real world.  Atlasia is in a genuine economic crisis here.  Not only that, but I don't see how reducing gas prices by $0.50 or so is going to induce hyperinflation.

[Peter]

Blame the GM, not us.

I think you're doing a great job.

Blame me for what?

Well, I acctually presummed that the "negotiations" would be carried out with you, but I was acctually complaining about how no one has offered to intruduce a bill yet once we have terms.

I have found in the past that you need to approach a Senator to get them to introduce something, don't expect them to fall into your lap.

[KEmperor]

You want the Senate to pass a bill to subsidize Canadian oil companies?

[Bono]

Well, open ways for hiperinflation.

Remember, this is not the real world.  Atlasia is in a genuine economic crisis here.  Not only that, but I don't see how reducing gas prices by $0.50 or so is going to induce hyperinflation.

Loweing interest rates and reducing the reserve rate even more is.
For God's sake, when does it stop? When banks are no longer required to hold any reservations?

[The Duke]

Blame the GM, not us.

I think you're doing a great job.

Blame me for what?

Well, I acctually presummed that the "negotiations" would be carried out with you, but I was acctually complaining about how no one has offered to intruduce a bill yet once we have terms.

If you want to negotiate, you'll have to begin by submitting some kind of proposal to the Candian government.

In all honesty, I would have to imagne that oil sands can be exploited when oil sands are exploited, and I'm sure Canda wants to exploit this resoure as much as we do.  I'd be very interested in hearing any proposals you have to speed this along, but until a formal ffer is made to Canada, I don't feel comfortable playing both sides in a negotiation myself.

[12th Doctor]

Well, open ways for hiperinflation.

Remember, this is not the real world.  Atlasia is in a genuine economic crisis here.  Not only that, but I don't see how reducing gas prices by $0.50 or so is going to induce hyperinflation.

Loweing interest rates and reducing the reserve rate even more is.
For God's sake, when does it stop? When banks are no longer required to hold any reservations?

I only lowered the rates once.  I'm not attempting to lower them a second time.  I also fully intend to bring the rates back up again when the DOW hits about 8,500 or so.

[12th Doctor]

Okay, let's just lay this thing out, so that we all know the ground rules:


1) I have to submit a proposal to the Canadian government.

2) Once that proposal is submitted, I will present the terms of said agreement to congress.

3) The Congress will then debate those terms.  At the same time, I will ask a Senator to present a bill the provides for the expansion costs of these companies.  The amount will be in the range of about $10 million or so.

4) Once terms are worked out, I will represent the terms of the agreement to the Canadians.  If they agree, then the bill will be sent onto the President, who will then sign the agreement with the Canadian Prime Minister.


Is that about the way it should work.

[12th Doctor]

You want the Senate to pass a bill to subsidize Canadian oil companies?

I believe that a small amount will be nessesary to be dirrected specifically toward the expansion of the companies facilities, yes.

[King]

We can always declare war on Canada and win.

[12th Doctor]

We can always declare war on Canada and win.

Yeah, then Canada could be like Iraq 2.0, except we would be fighting Greenpeace instead of al Qaida.

[12th Doctor]

We can always declare war on Canada and win.

Yeah, then Canada could be like Iraq 2.0, except we would be fighting Greenpeace instead of al Qaida.

On the bright side, at least the French will help us with the occupation and fighting the insurgents this time 

[12th Doctor]

Okay, let's just lay this thing out, so that we all know the ground rules:


1) I have to submit a proposal to the Canadian government.

2) Once that proposal is submitted, I will present the terms of said agreement to congress.

3) The Congress will then debate those terms.  At the same time, I will ask a Senator to present a bill the provides for the expansion costs of these companies.  The amount will be in the range of about $10 million or so.

4) Once terms are worked out, I will represent the terms of the agreement to the Canadians.  If they agree, then the bill will be sent onto the President, who will then sign the agreement with the Canadian Prime Minister.


Is that about the way it should work.

So, is this how we are going to go about this, then?

[The Duke]

Sen me a proposal, directed to Canada's PM, either here or by PM.

[12th Doctor]

Okay, after a bit more research (provided by John Ford), I have learned that I have made a few fundamental mistakes here.  If would appear that I am learning on the job here.

First, I will set a target to decrease the Federal Funds (Interest) Rate by 0.5% overall.

Second, I will advise the Federal Reserve to purchase $1 billion is securities and bonds over the open market.

Third, I will instruct banks to lower the Required Reserve Ratio by 3% overall.

Providing for many concerns about the current economic situation, I will, starting August 1st, istruct the Federal Reserve to take the following actions:

1) Increase the targeted Federal Interest Rate by .25% overall.

2) Advise the Federal Reserve to sell back $400 million in securities and bonds.

3) Raise the required reserve ratio by 1% overall.

[12th Doctor]

It is true that we have not yet met my original target rate, but the overall health of the economy and fiscal solvency of this government is are my primary concerns.

[12th Doctor]

As it stands, this is my opening offer to the Candian Government:


1) The United States will purchase crude oil extracted from the Athabasca Oil Sands region of Canada at the price of $35 per barrel (adjusted for inflation yearly) for the next 10 years.

2) The purchase of this crude oil shall not be limited to less than 50 million barrels per year for the first two years, but shall not excede 100 million.  In the following years, it shall not be limited to less than 100 million barrels, nor shall it excede 200 million barrels.

3) The United States government shall grant $50 million to the Candian government, to be used for the sole purpose of constructing facilities to extract and refine the oil.

4) A renegotiation of terms will not be allowed for at least 7 years following the signing of this treaty.

http://en.wikipedia.org/wiki/Athabasca_Tar_Sands