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Please note that this Financial Report is for 11/6/2010 (a day late)



Financial Update

Hello, and welcome to my first financial report here. Theneka really has already set a good basic outline for Financial reports so I am just going to copy him here.

Some of you might be wondering, why a financial update? What do we have to do with it? The main idea behind it is : Transparency. That's what this is all about. You eLive in a democracy, and the most important thing in a democracy, next to freedom of speech, is transparency. 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 controls 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 transferred 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 transferred were asked by me or done by a congressmen.

The second one is the organization 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 Organizations 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 !!, I invite you to check out the MoF sheet.

Money in the Accounts

State Account:
Total assets : About 72.7g
Variation Since Last Report: + 52.95644

State Companies:
Total Assets : 1.04935 g
Variation Since Last Report: + 0.07735

Citizen.info:
Total Assets: 2247.18 BEF
Variation Since Last Report: + 2039.2 BEF

NBB-BNB:
Total Assets: +445g
Variation Since Last Report: - 335g


Overall, we have around 561g in storage.

Monetary Market
The monetary peg has been changed to 0.019 to make the BEF a more balanced currency as Speculators used this to make profit and prevented us to exchange BEF for gold. Follow the latest news and spam along @

The official eBelgian Forum!

Sincerely,

Velitia
eBelgium Minister of Finance