Financial Report (15/05)
Day 907, 03:46
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Published in Belgium 
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by
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by NBB-BNB
Financial Update
Hello, and welcome to my first financial update of my term. Some of you might be wondering, why a financial update? What do we have to do with it? The main idea behind it is : Transparrancy. That's what this is all about. You eLive in a democracy, and the most important thing in a democracy, next to freedom of speach, is transparancy. You have to know what the government is doing with your taxes and with the money they make. This update will be published every week. If you need a quicker look, feel free to look for the MoF sheet online which is updated daily.
The 4 accounts of the state
The eBelgian state controles 4 organizations where money is stored or used, the first one is the IG state account where all the tax money goes. To use this money it first has to be transfered through a congress donation to an organization. As you can see, the last few days a lot of proposals to move money where proposed in order to get this money out of the state accounts. Those transfered where asked by me and our CP, Apotygma.
The second one is the organisation called : NBB-BNB. It stands for Nationale Bank van België - Banque Nationale de Belgique, and is our national bank. This is where most of the money owned by the Belgian state is stored for daily funding of State Companies, TW, etc...
The third on is eBE State Companies used to host our skill 0 training companies for new players. This products are not sold for profit on the national market, but only used to satisfy the needs of government organizations like Military or Home Affairs.
And last but not least, citizen.info is used for MoHA and giving out the registration bonus on the national forum, gifting hub and buying Moving tickets.
Now all these Organisations have money in them, in various currencies. Further on you can see the amount of currencies expressed in gold that each of them contains, for more detailed deions, I invite you to check the MoF sheet.
Money in the Accounts
State Account:
Total assets : 591.84 gold
Variation : + 54.80624g
State Companies:
Total Assets : 71.28 gold
Variation : + 5.13g
Citizen.info:
Total Assets 13.0206g
Variation : - 1.7886
NBB-BNB:
Total Assets : 839g
Variation : + 437.44g
So, at this moment we are on a pretty safe amount of cash, and though this might seem a lot, you have to keep in mind that MPP's cost 100g per country, so 200g in total. If we'd ever got caught up in a war, that money would soon be gone.
Overal, there has been a positive difference of 442.29868 gold in all those companies.
A little more information :
We had this week a total income of 54.8 gold in taxes. Most of the variation in the accounts is due to the printing of 20.000 BEF worth 400 gold, for a printing cost of 100.
The Monetary Market
As you can see by using this graph the BEF, our national currency is quite variable. So we want to start with calling upon evryone NOT to speculate on the BEF, as this is only nefast for our country and it's currency. The Ministry of Finances is working on a plan to stabelise the Montary Market, but this will take some time, and we will have to work that out realy well before doing anything. At this moment, the BEF is rising in value again, but that might change quite quickly. All ideas or debates on what to do with the MM can be held on our National Forum.
All citizens are welcome to register and participate on debates and off Topic gaming!
Theneka, Minister of Finance,
In name of The Ministry of Finance
Hello, and welcome to my first financial update of my term. Some of you might be wondering, why a financial update? What do we have to do with it? The main idea behind it is : Transparrancy. That's what this is all about. You eLive in a democracy, and the most important thing in a democracy, next to freedom of speach, is transparancy. You have to know what the government is doing with your taxes and with the money they make. This update will be published every week. If you need a quicker look, feel free to look for the MoF sheet online which is updated daily.
The 4 accounts of the state
The eBelgian state controles 4 organizations where money is stored or used, the first one is the IG state account where all the tax money goes. To use this money it first has to be transfered through a congress donation to an organization. As you can see, the last few days a lot of proposals to move money where proposed in order to get this money out of the state accounts. Those transfered where asked by me and our CP, Apotygma.
The second one is the organisation called : NBB-BNB. It stands for Nationale Bank van België - Banque Nationale de Belgique, and is our national bank. This is where most of the money owned by the Belgian state is stored for daily funding of State Companies, TW, etc...
The third on is eBE State Companies used to host our skill 0 training companies for new players. This products are not sold for profit on the national market, but only used to satisfy the needs of government organizations like Military or Home Affairs.
And last but not least, citizen.info is used for MoHA and giving out the registration bonus on the national forum, gifting hub and buying Moving tickets.
Now all these Organisations have money in them, in various currencies. Further on you can see the amount of currencies expressed in gold that each of them contains, for more detailed deions, I invite you to check the MoF sheet.
Money in the Accounts
State Account:
Total assets : 591.84 gold
Variation : + 54.80624g
State Companies:
Total Assets : 71.28 gold
Variation : + 5.13g
Citizen.info:
Total Assets 13.0206g
Variation : - 1.7886
NBB-BNB:
Total Assets : 839g
Variation : + 437.44g
So, at this moment we are on a pretty safe amount of cash, and though this might seem a lot, you have to keep in mind that MPP's cost 100g per country, so 200g in total. If we'd ever got caught up in a war, that money would soon be gone.
Overal, there has been a positive difference of 442.29868 gold in all those companies.
A little more information :
We had this week a total income of 54.8 gold in taxes. Most of the variation in the accounts is due to the printing of 20.000 BEF worth 400 gold, for a printing cost of 100.
The Monetary Market
As you can see by using this graph the BEF, our national currency is quite variable. So we want to start with calling upon evryone NOT to speculate on the BEF, as this is only nefast for our country and it's currency. The Ministry of Finances is working on a plan to stabelise the Montary Market, but this will take some time, and we will have to work that out realy well before doing anything. At this moment, the BEF is rising in value again, but that might change quite quickly. All ideas or debates on what to do with the MM can be held on our National Forum.
All citizens are welcome to register and participate on debates and off Topic gaming!
Theneka, Minister of Finance,
In name of The Ministry of Finance
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Comments
Nice work!!
Excellent ! Let continue this good work !
Very nice!
Good work 🙂
[removed]
Good Job!
well done😁
Good information & good work!
nice
Thank you. It is nice to see a full accounting of our accounts. Please keep up the good work!
Thank you for the info, very nice!
This: "So we want to start with calling upon evryone NOT to speculate on the BEF, as this is only nefast for our country and it's currency." sounds very strange though..
Of course "speculating" can mean a couple of different things, but citizens engaging in monetary arbitrage are NOT acting "nefast" for our country.
Great report!
Three cheers for government transparency!!!
Great article!
Probably the best financial report in months, very well done!
For those who wonder why we have a separate organization aside of the ingame national treasury, this was originally a safety measure against possible malicious PTOers who could be interested in the assets of our state treasury. Having an org as our national bank also enables us to make fast decissions if needed (otherwise it takes a 24 hour Congressional vote ingame) and to have a better overview of our money transfers (the org has a donation list, the ingame national treasury doesn't).
glad to see you continuing to work in the public interest.
v
Rain Beau
21
Rain Beau now
I am all for transparency but some things don't need to be broadcast so widely. Would it not be better if this paper announced instead that this information was available on http://ebelgium.forumotion.net" target="_blank">http://ebelgium.forumotion.net ?
Rain Beau : this can all be found IG if you dig a little. It's not like we have hidden money in order to tank in case of. All this can be found by either looking everyday, taking the donation lists, etc... No secrets 😁
Can you explain in which way speculating is nefast? People earn money with it (including me). That money will be invested later on in our economy...
"So we want to start with calling upon evryone NOT to speculate on the BEF, as this is only nefast for our country and it's currency."
Because you are continuously raising the exchange rate. Mainly the fault of the government as we are not acting. Normally on Sunday things will change.
Speculating on the MM is NOT a bad thing to do. People that do that actually regulate the MM. And at least for about a week or two, things were going pretty well with the 0.018 rate and ROI of 5-10%. I was actually happy that, at least than, BEF MM seemed like a stable one.
However 3 days ago the rate increased and I don't think it's because of the players there. You have to have at least 200g cash to attack this market or (and I don't exclude the possibility) to have a quiet agreement between players.
I could not stress enough the need of an intervention by the BNB, as the sudden increase of salaries by 10% could be the difference between profit and loss for companies in eBE!
dagniel
@dagniel
The MM situation has been noted by the Government and steps are being taken to stabilize the market. It just takes a little time, but things should be better soon.