Update from the Department of the Treasury

Day 1,243, 10:02 • Published in USA USA • by Evry

Hello eAmerica,
My name is Evry. I’ve been the eUS’s Secretary of the Treasury for a few months now and I have also served as chairman of the Econ Council in the past. Today, I would like to address some concerns over the current state of our economy.

First, don’t panic. While things may look grim, it’s not nearly as bad as it appears. The peg (which is the conversion rate between gold and USD) has been dropping over the past couple of months, which means that the USD has gotten weaker. Before this whole thing happened, our peg was at roughly 0.02gold/USD (1 USD was worth 0.02 gold). However, now the peg is standing at roughly 0.006g/USD, which means that the same USD is now only worth 0.006gold. This may seem like a terrible thing and it may appear like our economy is in the dump, but this is not a problem limited to only our country. Just about every country in the World has their peg currently at or under 0.008g/USD. This indicates that while there are tiny fluctuations likely due to the eUS having less resources than other countries, this peg problem is in fact global, and likely a result of admin’s econ-related changes.

Second, you might be wondering what you should do since the peg is so low. I personally believe that the peg should stabilize and potentially rise in the future. Therefore, I’d advocate for citizens to hold onto their USD and wait this bad period out. Currently, the only reasons for a citizen to need gold would be to create a company, boost for training or working, or to tank in a battle, so most should not need to convert their USD to gold. I recommend that all citizens hold onto their USD as the value should rise, and by holding onto your USD you will be HELPING stabilize the peg faster.


Third, Admin’s latest changes could in fact help with the USD inflation problem. The changes can be found here. The changes to raw materials should increase demand for RM companies and RMs causing rising prices and getting more USD flowing around our economy. Also, the moving ticket change will result in more USD being taken out and destroyed by the admin per move. This would be very good as destroying USD increases upward pressure on the peg, which helps make the USD stronger compared to gold.

Fourth, the Economic Council (EC), of which I’m currently a member of, has been working on solutions to our economic woes. We’ve currently submitted to congress recommendations on changes to our tax code, which should give us more leverage for dealing with these problems. It is now up to congress to accept these recommendations. The EC has also been working with congress on the budget for the last couple of months. The EC will submit a recommended budget on a monthly basis to congress who then debates over the finer points of the budget and finally votes to pass the budget. The EC is also thinking of new and innovative programs to help the country deal with the economic problems facing the country.



In summary, the peg stinks at the moment, but there is no need to panic. I recommend that citizens hold onto their USD and not change it back into gold because the value of the USD should rise in the future, which would be very beneficial to those citizens who are holding onto gold. The Econ Council is working on ways to combat the peg such as possible tax changes and programs and the Admin’s new changes should affect the economic side of the game greatly and could in fact be a good thing as far as dealing with our current issues goes.

I care about the citizens of this fine country, so if you have any questions please send them to my inbox directly as I may not check the comments of this article frequently. I can also be found on IRC at most times. I look forward to continuing to work with this country to help us be fiscally responsible and financially strong.

Sincerely,
Evry
Secretary of the Treasury
Member of the Economic Council
Ambassador to the Philippines
Member of the eUS Armed Forces