The Central Banking Reform Act of 2010 (Law'd)

[Southern Senator North Carolina Yankee]

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Sponsor: NC Yankee

[Southern Senator North Carolina Yankee]

In my continued effort to burry the Game Moderator in Legislated Mandates, I feel having him simulate the actions of a Fed to be a very worth investment of his time.


This does not create anything, so no Libertas, I am not pretending to William III here. All it creates is a hell for poor Badger.

[Purple State]

I would recommend making it every other month. Time goes by pretty quickly in this game, so having a general economic outlook for the next two months would be a good way for the Senate to gauge the direction of future legislative initiatives.

[Badger]

This is GM-endorsed. I'm okay with it being monthly (though I may later regret my words ), though bi-monthly is fine also. If one way proves either too onerous or too sporadic, I would certainly be the first to recommend change.

[#CriminalizeSobriety]

Monthly seems a bit overwhelming, but I suppose that could always be changed if it proved harmful to the game.

[AndrewTX]

I'm not 100% sure about haing it Monthly, but I think this is a terrific idea. This appears to be something that will hopefully give us a little more depth on the state of our economy, something that is really needed at this time.

[Southern Senator North Carolina Yankee]

I would recommend making it every other month. Time goes by pretty quickly in this game, so having a general economic outlook for the next two months would be a good way for the Senate to gauge the direction of future legislative initiatives.

Clause 2a or 2b? Which one?

This is GM-endorsed. I'm okay with it being monthly (though I may later regret my words ), though bi-monthly is fine also. If one way proves either too onerous or too sporadic, I would certainly be the first to recommend change.

Same question

Monthly seems a bit overwhelming, but I suppose that could always be changed if it proved harmful to the game.

See response to Badger

I'm not 100% sure about haing it Monthly, but I think this is a terrific idea. This appears to be something that will hopefully give us a little more depth on the state of our economy, something that is really needed at this time.

See response to Dallasfan65

[Purple State]

My comment was in reference to Clause 2a.

[Badger]

FWIW: I will shortly be opening my new office (hopefully later today) and plan to give periodic release of leading economic indicators and consumer confidence index. Certain stats (unemployment, GDP growth/loss, inflation,) will be on a regular monthly schedule, with others to be released on, for now at least, a non-regular schedule of "periodically/as needed". Stocks I'm going to aim for weekly plus newsworthy major surges & declines.

My point in all this is there will be economic data coming regularly from the GM soon in addition to this bill's proposal. I DO NOT think that makes this bill redundant at all; just FYI.

Again, I'm totally OK with starting with monthly or bimonthly reports to start as the Senate chooses, just so long as if it's monthly y'all do a brother a solid if I come back later begging to reduce it to bi-monthly.

One thought: If the Senate chooses bi-monthly to start, perhaps the bill could require "at least" bi-monthly reports. That way if time permits and I get a wild hair there is pressing need for direction in the economy , there's nothing keeping the GM from providing more frequent reports from "special" meetings of the Fed.

[Southern Senator North Carolina Yankee]

The reason I put monthly for the reports is so that its an outlook for the next few months and each month the expectations would be revised based on the lastest available info.

The fed doesn't change rates every meeting. However if an emergency exists they can change rates or engage in QE at every meeting.

Amendment.
Added on to clause 2b. In emergency situations, the FED (GM) can modify monetary policy during the monthly Fed meetings.

Since its mine and I except it as friendly, it is automatically incorporated barring objection in the next 24 hours.

[Southern Senator North Carolina Yankee]

We should put set dates for the meetings in the bill

Monthly Meetings: The 10th

Policy Meetings: The 15th.

Once we decide whether it the policy meetings should be tri or bi monthly, we can then decide which months to use.

[Southern Senator North Carolina Yankee]

The bill has been amended (actually it will be in nine minutes).

[Badger]

We should put set dates for the meetings in the bill

Monthly Meetings: The 10th

Policy Meetings: The 15th.

Once we decide whether it the policy meetings should be tri or bi monthly, we can then decide which months to use.

Wait a minute. Does this mean the reports have to be on the 10th or 15th like clockwork? Real world will intervene inevitably and this will simply not happen. This is getting a little micromanaging. I would much prefer simply monthly or bimonthly reports and please allow the GM (and his real life responsibilities ) discretion in when in the month it happens (though I'll try to remain consistent on timing).

[Southern Senator North Carolina Yankee]

We should put set dates for the meetings in the bill

Monthly Meetings: The 10th

Policy Meetings: The 15th.

Once we decide whether it the policy meetings should be tri or bi monthly, we can then decide which months to use.

Wait a minute. Does this mean the reports have to be on the 10th or 15th like clockwork? Real world will intervene inevitably and this will simply not happen. This is getting a little micromanaging. I would much prefer simply monthly or bimonthly reports and please allow the GM (and his real life responsibilities ) discretion in when in the month it happens (though I'll try to remain consistent on timing).

How about we include the dates and have it be up to our generousity as to how late will let you be. What I don't want is what has happened with my Approval polling at Survey Atlasia, for instance. First I do at the beginning of the month, then middle, then the end, then months get forgotten, then its gets scrapped (hopefully that won't happen to my approval polls but it might), damn thats what happened to SurveyUSA, I CURSED MYSELF.

If you are a couple of dates off that is fine but I want you to try and keep within a consistent range of dates (between the 10th a 20th). I think Al is right about instability being a major cause of our economic problems. Businesses hate uncertainty and love knowing what is going to happen. If you look at many African countries (Zimbabwe for instance), a major crucial hinderance to their economic development is the erratic policy changes and shifts based on the whims of madmen like Mugabe. Our problem is the madness of innactivity and laziness.



Feel "oversought".

[Fmr. Pres. Duke]

Piling more work on the GM, are we? I suppose if he can take it...

[Southern Senator North Carolina Yankee]

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Senators have 24 hours to object.

[Southern Senator North Carolina Yankee]

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If there is no more to add, we can start a vote tomorrow.

[Barnes]

Don't quote me on this, but I'm pretty sure Section B should say "triannual".

[Southern Senator North Carolina Yankee]

Don't quote me on this, but I'm pretty sure Section B should say "triannual".

Now that would be every four months. Triannual means three times a year. 12/3=4.

[Obnoxiously Slutty Girly Girl]

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What does this mean? Does Atlasia already have a central bank system in place or not? If so, I know what my next piece of legislation should be.

Anyway, I'm strongly opposed to this bill.

[Southern Senator North Carolina Yankee]

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What does this mean? Does Atlasia already have a central bank system in place or not? If so, I know what my next piece of legislation should be.

Anyway, I'm strongly opposed to this bill.

Oh NO!!!!, He is back, we have been caught doing the bidding of the illuminati.

Its called cross-over. It recognizes it as being continued from the US unchanged. Yes there is a central bank in place, and I would love for you to try and repeal it. I already know what my vote on it will be.

[Obnoxiously Slutty Girly Girl]

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What does this mean? Does Atlasia already have a central bank system in place or not? If so, I know what my next piece of legislation should be.

Anyway, I'm strongly opposed to this bill.

Oh NO!!!!, He is back, we have been caught doing the bidding of the illuminati.

Its called cross-over. It recognizes it as being continued from the US unchanged. Yes there is a central bank in place, and I would love for you to try and repeal it. I already know what my vote on it will be.

I am sure your vote will be consistent with your long and undistinguished record of supporting big government, big corporations, and big banks over the interests of the Atlasian people.

[Southern Senator North Carolina Yankee]

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A final vote is now open on this legislation, Senators please vote AYE, NAY, or ABSTAIN.


AYE

[Obnoxiously Slutty Girly Girl]

NAY

[Hans-im-Glück]

AYE