How to jumpstart the economy?

One of the difficulties for our eCountry seems to be the economy. Yet how could one revive the dying patient? A “simple” way would be by jumpstarting the economy. Meaning creating opportunities for entrepreneurs to start their own business. However one needs gold to start a business, and that’s where it might go wrong for quit a few citizens.

The way I see it our eGovernment could play a critical roll in this story.
Let me explain:

A citizen works every day, earning him or her an amount of BEF. After a given time he or she might has some savings. However it is impossible to start a company with BEF’s (damn you eRepublik Rising!). So he or she needs to find a way to get some gold. Eventually finding his or her way to the monetary market after reaching a certain level in the game, he or she might be disappointed to see the price one has to pay for his or her gold…

However it hasn’t got to be this way!

What if our eGovernment would change BEF’s for gold outside the market against a reasonable rate and after a good “business plan” given by the eBelgian citizen?

How it would work:

1. An eBelgian citizen would PM the NBB-BNB with a request for gold.
2. The NBB-BNB would check the credentials of the citizen (citizenship, gamelevel) and would then confirm or deny the request. If the request would be confirmed a “business plan” would be asked from the citizen (what kind of company he would like to found etc.).
3. The citizen would give the required info and the amount of gold he or she would like to get.
4. The NBB-BNB could again confirm or deny the request (a counteroffer could also be made).
5. Upon confirmation the citizen would have to donate the BEF’s.
6. Upon receipt of the BEF’s, gold would be given to the citizen.
By keeping this outside the market our eGovernment would have the guarantee that no other foreign citizens or countries would buy our gold.


CR -

This is an excellent idea, except for one thing.
We are a gold-poor country.
The only way for the Treasury to gain gold is through taxes when business owners collect (not very likely as most people use the money market to collect gold) or to sell BEF for gold on the money market itself. This second way is called setting a peg, which we have done in the past, but is not needed right now as it would upset the market and create even more inflation.

Inflation isn't necessarily a bad thing, if one would consider a Tobbin effect...
Even so, looking at the NBB-BNB we have about 465 gold, compared to some other nations (I looked at the national banks of Turkey, Sweden, The Netherlands and the USA), that's rich. Correct me if I'm wrong, but I think that there's no interest on that gold is there? So saving it doens't earn our Goverment anything. In other words investing that gold is the best alternative...

Citizen Robespierre wrote:Inflation isn't necessarily a bad thing, if one would consider a Tobbin effect...
Even so, looking at the NBB-BNB we have about 465 gold, compared to some other nations (I looked at the national banks of Turkey, Sweden, The Netherlands and the USA), that's rich.

They all store their gold on various organisation accounts or hidden companies. What you saw where probably the earnings of 1 day (in eUSA's case anyway)


I know countries like spain who have treasuries of +30K gold and countries like eUSA make 1500G/month from Karkatana alone.

Citizen Robespierre wrote:Correct me if I'm wrong, but I think that there's no interest on that gold is there? So saving it doens't earn our Goverment anything. In other words investing that gold is the best alternative...

correct, there is no interest here. Interest should be earned by playing the MM.