About the Department of Finance
Swagger McSwag
'Zup? As you know, Nikko_33 and I form the new Finance team under the HazzN administration. I'm writing just to let you guys know about what we do in the Department of Finance, why we do 'em, and how you - yes, you - can help.
What is the Department of Finance
DEPARTMENT OF FINANCE OFFICIAL SEAL
The Department of Finance is one of the four original executive departments of the Philippine government. It was instituted by then-President Big Boy Bulley on April 8, 2009 with former Philippine congressman roadrunnerspeed as its first head.
Currently, the Finance department is in charge of two things: the country's a) monetary policy, that is, controlling the value of GOLD and PHP in the monetary markets; and b) fiscal policy, that is, budgeting, keeping track of and advising the President regarding government spending.
Why we control the value of the PHP
PHILIPPINE PESO
The Finance department artificially sets the value of the PHP in the monetary markets so that businesses, both local and foreign, can effectively plan their finances. With a stable PHP-to-GOLD ratio, these businesses can easily project their earnings from exporting or importing goods to or from the country. This economic stability will make our country attractive to local and foreign investors alike.
Also, when you win GOLD from prizes or achievement medals, you will be assured that your GOLD has a fixed value on the monetary markets.
How it's done
AT THE EXCHANGE
The Finance department uses two in-game organizations to do its bidding: the a) Bank of Philippines and b) The Ministry of Finance.
Together, we use these organizations to sell GOLD and PHP using the following benchmarks:
1 GOLD = 50 PHP
1 PHP = 0.02 GOLD
Whenever an offer on the market falls below these set benchmarks, the Finance department quickly buys it off the market to keep the PHP-to-GOLD ratio at desired market rates. When done correctly, this process can actually yield a profit for the country because we buy offers at "below-benchmark" value and resell them at the higher 'benchmark' rate.
How you can help
YOO, TOO, CAN HELP
As a citizen of the Philippines, you, too, can help by refraining from buying or selling GOLD or PHP at anything other than those benchmarks. This will greatly reduce the work of the Finance department and make it easier for us to control the markets for the ultimate benefit of the Filipino people.
Thank you and more power.
At your service,
Ariel David Buena
Director, Department of Finance
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July 19, 2009
Comments
DoHA > DoF
Fine. 😛
I'm getting the feeling the DoHA budget has just been slashed...
DoHA has no budget. It's self sufficient. We're smart like that. ;o)
The only time it gets funding is when it needs to buy new companies and such.
Question: It is a little bit related.
If I change the residence of my Org, does the location of the company my Org controls, also change?
Nope, unfortunately. The geographical location of companies in eRepublik cannot be changed, despite changing the geographical location of its parent organization.