Post by lemmingtopias on May 11, 2019 13:02:55 GMT
The following a statement on the financial status of the Commonwealth and the community.
The Economy
There is currently 13,670.50 Drachmas in circulation. I have designated this as 'legacy finance' to distinguish it from wealth created after the relaunch of the Commonwealth, where you can expect more ways for wealth to be generated and lost. Be advised that this figure does not include money invested in the Tales of Atlas RP or profits garnered there, in order to showcase a true starting point. In reality, about a third of all money in circulation has now been destroyed through investment in Tales of Atlas.
As part of these Financial Statements, I also want to include information about real world money spent on Telegram Stamps, etc.
Since the relaunch of the Commonwealth, Officials have spent 18 telegrams. All of these were used for Membership Communication purposes and were paid for by A Dreamers World.
Future editions of the Financial Statement will include where money has been created and where money has been destroyed, to give an overview on how the economy is functioning and to pinpoint which areas of the community are creating or destroying wealth and to allow effective information to decide whether a particular area is causing financial issues (such as an unacceptably high creation or destruction of wealth or corruption).
It is my opinion that the amount of Drachmas in circulation should have a growth target which balances the need for a developing, vibrant economy and the dangers of spiralling circulation. I propose that any aspect of the community that creates wealth (such as the Tales of Atlas RP is doing now) should only be able to create or destroy 5% more wealth than is invested into it. It is my hope that people will self-regulate this and I aim to have an arms reach role in enforcement of this target. Be advised, this is a long term target - it is quite acceptable that an RP may create or destroy far more than 5% in its early days.
As an example, lets say there is an RP which has an economic element. People invest 1,000 Drachmas into it. The RP should be creating between 950 and 1,050 Drachmas in the long term, making its contribution to the economy between -5 and +5%.
Tax and Benefits
Income Tax: 10%
Inactivity Tax: 15%
Golden Hello Scheme: 100 Drachmas to all new Members
Posting Earnings
I have carried out a review of the amount of Drachmas one earns for posting. I have removed earning rights for all areas of the forum except the HQ. I have done this because I feel that wealth should be created through more thoughtful and creative means than just ploughing an unlimited amount of money into circulation every time someone posts. In the HQ, I have set posting earning to 4.5 Drachmas per post, rewarding those that get involved in the Commonwealth Government. The 4.5 Drachma payment represents a 5 Drachma earnings, minus the 10% tax rate. The money awarded to HQ posters will be paid from the Commonwealth Treasury, so it is not just additional money being added to circulation.
Financial Summary - May 2019
The Commonwealth Treasury has 3,435.93 Drachmas.
The Commowealth is 2,900 Drachmas in Debt to the Commonwealth Central Bank.
There is 16,570.50 Drachmas in Circulation, made up of:
2,900 in Quantative Easing[/ul]
There are 461 HQ Posts - This allows me to keep track of how much money is being created.
The Economy
There is currently 13,670.50 Drachmas in circulation. I have designated this as 'legacy finance' to distinguish it from wealth created after the relaunch of the Commonwealth, where you can expect more ways for wealth to be generated and lost. Be advised that this figure does not include money invested in the Tales of Atlas RP or profits garnered there, in order to showcase a true starting point. In reality, about a third of all money in circulation has now been destroyed through investment in Tales of Atlas.
As part of these Financial Statements, I also want to include information about real world money spent on Telegram Stamps, etc.
Since the relaunch of the Commonwealth, Officials have spent 18 telegrams. All of these were used for Membership Communication purposes and were paid for by A Dreamers World.
Future editions of the Financial Statement will include where money has been created and where money has been destroyed, to give an overview on how the economy is functioning and to pinpoint which areas of the community are creating or destroying wealth and to allow effective information to decide whether a particular area is causing financial issues (such as an unacceptably high creation or destruction of wealth or corruption).
It is my opinion that the amount of Drachmas in circulation should have a growth target which balances the need for a developing, vibrant economy and the dangers of spiralling circulation. I propose that any aspect of the community that creates wealth (such as the Tales of Atlas RP is doing now) should only be able to create or destroy 5% more wealth than is invested into it. It is my hope that people will self-regulate this and I aim to have an arms reach role in enforcement of this target. Be advised, this is a long term target - it is quite acceptable that an RP may create or destroy far more than 5% in its early days.
As an example, lets say there is an RP which has an economic element. People invest 1,000 Drachmas into it. The RP should be creating between 950 and 1,050 Drachmas in the long term, making its contribution to the economy between -5 and +5%.
Tax and Benefits
Income Tax: 10%
Inactivity Tax: 15%
Golden Hello Scheme: 100 Drachmas to all new Members
Posting Earnings
I have carried out a review of the amount of Drachmas one earns for posting. I have removed earning rights for all areas of the forum except the HQ. I have done this because I feel that wealth should be created through more thoughtful and creative means than just ploughing an unlimited amount of money into circulation every time someone posts. In the HQ, I have set posting earning to 4.5 Drachmas per post, rewarding those that get involved in the Commonwealth Government. The 4.5 Drachma payment represents a 5 Drachma earnings, minus the 10% tax rate. The money awarded to HQ posters will be paid from the Commonwealth Treasury, so it is not just additional money being added to circulation.
Financial Summary - May 2019
The Commonwealth Treasury has 3,435.93 Drachmas.
The Commowealth is 2,900 Drachmas in Debt to the Commonwealth Central Bank.
There is 16,570.50 Drachmas in Circulation, made up of:
2,900 in Quantative Easing[/ul]
There are 461 HQ Posts - This allows me to keep track of how much money is being created.
