Ashes, Ashes, and We All Fall Down!
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by Jewitt
Following various congressional reports, hosted by USWPost and The Report, a plan to raise taxes on the economy's top four major industries was enacted. Since then, two taxes (Food and Gift) have been passed. Wood and Grain are up next, or so it seems.
Market Watch: USD Crashes in Value!
Following last night's posting by Jewitt to answer critics about the Emergency Tax Plan, otherwise known as the Emergency Legislative Order, the USD's worth has plummeted. He warned in an in-Congress commentary, "Well, although the eAmericans might not be liking this, they will have to lighten up their stance if the USD does, in fact, drop." He was asked when the USD would drop, if at all, by a fellow congressman. He sat there for a moment and scribbled on some paper before responding that "when they put the USD on the Monetary Market, we will be able to tell because the transactions will be side-favorable."
He then gave an explanation on how we would be able to tell if those which were alerted to Teacher's actions before hand - and thus able to purchase more USD at the cheap prices - were listing their money. "They would put it all up at once, more than likely," Jewitt said, "and it will not be consistent with the transverse side of the MM." He was talking about the selling GOLD for USD page, and the selling USD for GOLD page.
A Report Finding: Congressman Aren Perry contacted Jewitt while he was in his desks of The Report working on a study, alerting him of the USD losing value.
"Through some looking into it, my worst fears were appearing on the screen," he said to The Report, "GOLD is selling by offers of anywhere from one to ten units per offer. USD is selling by the thousands collectively rather cheaply. What is even more disturbing is that the eCIA says that the Party has affiliations and contacts within Nippon-" Nippon being the native name for Japan "- and the largest offering on the Monetary Market, and the cheapest, is from a Japanese citizen. I am the last to scream conspiracy, but we can not ignore that this may be the action of purposeful beneficiaries."
Congressional Response
Congress has reported it plans to stay with its Emergency Legislative Order and finish it out, claiming that the taxes are needed to pull this excess USD out of circulation before the situation gets any worse.
Despite criticisms, Congress is attempting to meet the concerns, questions, and even ignorable insults from angered eCitizens. Congress has asked that any comments be directed to either The Jewitt Report, if directed towards Jewitt's releases, or the organization eUSA Congress for a speedy response.
Math - We all like it!
Jewitt's original predictions were that, if all of the USD was re-entered into the market at once, that the USD could lose value so much that it would be worth less than any figure seen in post-BETA. His actual figure was 1 USD -> GOLD = 0.0129.
When the Federal Reserve was hacked and fire-sold, the 1 USD -> GOLD ratio was 0.016. It has remained at a steady 0.015 for the past three days. "This is normal," commented Jewitt, "as markets fluctuate. Our currency, without government intervention and with the flat-tax policy we have had, has stayed in the 0.016 and 0.015 region for a long period of time. It even had spikes, up to 0.018 and drops to having a single offer of 0.014."
However, those small 0.014 offers only lasted for moments and were composed of foreign companies or organizations trying to make a quick sale of less than, usually, 100.00 USD. The current offers are in the thousands, and surely more citizens will be selling their own USD at this poor rate.
Slow Value Drop since Fed Fire-Sale
The value has dropped only recently on the USD -> GOLD side, but has consistently dropped on the GOLD -> USD side for the past four days.
When the Fed sold its reserves, 1 GOLD could buy about 68 USD. After the Fed's selling, 1 GOLD could buy around 73 USD. Now 1 GOLD can buy 77 USD, and those offers quickly jump on the current listings to 82, 86, 89, and well over 100. All of these are, collectively, below 20 GOLD in all. This is a small amount, and a terrible indicator that the USD is losing more and more value to the GOLD Standard.
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To Do List
Save your USD. Do not spend it. Holding on to it now will stop circulation, and thus raising the value of it. When this is over with, you will have some USD saved up and it will be worth much than it is now.
Vote this article up. The nation needs to know what is going on.
-Jewitt, Chief Editor
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Comments
I am not that worried....
UPs and DOWNs of the economy- welcome to the free market.
here here!
Good article Jewitt.
Except the value of the USD was 0.015 pre fire-sale
Congress needs to debug their code, there seems to be a bug in their random tax rate generator.
Is this article old? There is 200 gold+ for 75 or less and only one listing for .014 and the rest .015. Sure it was 69 or so beforehand but it seems to have stabilized around this 73/75 area. Or maybe i am smoking something.
hokiehigh: The USD was bought up very quickly, and it was over 4,600 USD for a few offers. Obviously they sold it very quickly. Also, the other side of the market has also posted more offers. No one knows what exactly happened, but someone really wanted a lot of USD gone and quick, and posted it much below the other offers.
Vodalian: You keep making these comments, but do not respond to our own answers. Have you been ignoring our reasoning in your blind vendetta against anything "congress"?
I'm not against anything 'congress', the truth is, you never back these numbers with anything. You just decide 'this is best', provide absolutely no evidence backing your claim, and then degrade everyone who disagrees with you.
You seriously need to learn a thing or two about cause and effect.
What little money I rake in gets spent on overpriced under-quality food fo my level. And still I get ushed to surrender my wallet to buy war bonds. I'm Starving!
thanks for the explanation
Lester, if you're poor don't buy war bonds. In fact do like Jewitt said and SAVE SAVE SAVE!
Vodalian: I am not trying to "degrade" anyone, but many accusations are unfounded. Yours, however, is quite appropriate. You wrote, "you never back these numbers with anything," and this is true and false. We have not publicly released the actual reasoning as to why we raised them 10% as we have been working on the program to lower taxes and reprimand congressmen that do not act to congressional protocol. I am sure you have noticed some very contradicting proposals by three-clicking congressmen that have been shot down passionately.
Although we had a method for choosing the 10% over another smaller increase (such as the equally favorable 5%/10% increase), it has not been published and I will admit to failing to do so. The primary factor was psychological marketing, and getting this done as quickly as possible before businesses freaked. Although that statement does poor justice, it was an underlying factor but was not the sole reason.
I fail to see the connection with the Japanese Govt. If its one person its ignorant to label Japan as a culprit in this matter. If that citizen moves to America then i guess an American citizen has connections with The Party right? Dont accuse an entire government of a persons actions.
There have been no accusations of the Japanese Government, but of the actions of a citizen in Japan. Please read the content and use it in-context. The Report is not accusing anyone, including the citizen, but bringing it to light that we should also see where the USD is coming from as any indicator.
Vodalian, the gold to dollar ratio was 1 gold to 78 USD yesterday. Thankfully it went back fast.
Seriously, please stop making harsh statements and start using reasoning.
There really wasn't much to worry about.
= )
Yeah! Finally an article that explains the economy! Voted and subscribed!
Nice article Senaor Jewitt. voted.
Now that is advice I can use.
@Aren Perry:
There is nothing unreasonable about expecting the congress to actually provide evidence for their claims and math backing the numbers they choose. What is unreasonable is just taking random people's word for it, especially considering becoming a congressman in this game requires no experience or qualifications.
What you guys don't seem to realize for some reason is that I'm not arguing against the idea of tweaking tax rates, it's how you come up with the rates that you do. You guys seem to believe that 10% is some sort of magic number, and that all you have to do is raise taxes by 10% here and there and all of our problems will go away. I argue that the tax rates need to be directly related to the state of the economy and need to be governed by a specific set of simple rules in an attempt to only take only what is necessary. With the dynamics of the economy. There's no such thing as 'perfect rates' of course, but efficient rates on the other hand are possible to a degree with a bit of work and patience. I'm sorry, but without any sort of explanation behind these 10% increases here and there, I have to believe it is the product of laziness. I'm sorry if you consider what I'm saying to be harsh, but it needs to be said.
I think that it's good that things are now going to be cheaper, but I, like many people, know the dangers of inbridled inflation. I aree with your plans and I am going to start hoarding my USD immediately.
And in another example of mean reversion, two days later at 1😇0am CST, 3 February, the dollar is trading at 66.67:69.72 [bi😛ask]. Right back where it was before the blip.