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You are reading an article written by a citizen of eRepublik, an immersive multiplayer strategy game based on real life countries. Create your own character and help your country achieve its glory while establishing yourself as a war hero, renowned publisher or finance guru.

[Aries] Debts, Dictators, and Democracy

Day 2,692, 09:04 • Published in Canada Canada

• by Aries Prime

I decided to write a last minute article about the CP election mainly because I’m having a hard time finding the community I joined some months ago. Where did you guys go? Is everyone dead?

A little bit about me. I served in the Netherlands government for close to two years before moving here. Yeah, I know, it’s Netherlands so not as impressive. Still, I managed most every position at some point, from MoD, to MoF, to CP. At the end of it all I gathered quite a bit of experience in running a country. Right now I think we need that finance experience.

Our debts have piled up. I don’t know if Rylde will pay them pack or not, but I know the government will have to. My finance experience will allow me to do whatever we need to do to get our finances in order and pay back who we owe. I’ve said it before and I’ll say it again: Canada has a spending problem. We are terrible at saving money and great at overspending. I think now we are literally at the end of our rope when we have around 500k in debt and hardly anything in the treasury. We have to cut our spending, come up with creative options to raise some money, and maybe increase taxes for a time. None of it is pleasing and quite frankly it’s boring, but we don’t have any choices here. This next month has to be one of financial responsibility.

Rylde is a great dictator. I honestly think he has done a fine job and he is pretty fit for the job. Sometimes he makes some goofy decisions or pisses off some allies while drinking, but overall he makes it fun and advances Canada. Unfortunately with no money, tons of debt, and a destroyed political module, Canada appears to be dying. We can all tip our hats to Rylde, but this setup is going to fall soon. No one really likes the dictator updates and even though we made our best of it, things are going to have to change if we want the community to keep on going.

Which leads us to democracy. At some point we are going to have to return to democracy. It might be in a week, or at the end of the month, but I don’t think this dictatorship is going to last much longer, nor do I think it is good for Canada. Those Canadians that are still kicking and want to bring the community back to normal are going to start a revolution and will win. Once that happens we need to have someone on the CP block that can at least stabilize our situation so the next CP will have something to work with. I know I’m not as well known or trusted as some of the other candidates, but I know what we need to do to get back on our feet. It won’t be very fun or easy, given our situation, but it is necessary.

Your new CPF moose signing out,

Aries Prime

Comments

olivermellors Day 2,692, 09:39

"we have around 500k in debt"
__________________

?????
The dictator did make an appeal for personal contributions to him, repayable by him, which appears to have attracted close to 300,000 dollars in bonds sold.

The money raise through war machine was never intended to be repaid.

So, how do you justify assuming 500,000 dollars in debt which the government doesn't owe, and then suggest that eCanada has a problem with spending? "The next month has to be one of financial responsibility" - start now.

Aries Prime Day 2,692, 17:30

Someone has to pay back those debts. If not Rylde then us. That's real responsibility mate. It's not fun or easy but we can't just leave those people out in the dark.

Aries Prime Day 2,692, 17:39

That being said, Rylde will most-likely pay back much of it. From there the government will have to look at what we really need to repay and what we can afford letting go.

olivermellors Day 2,692, 17:54

1. the worst thing you can do for those you care for are the things they can and should do for themselves.

2. The concept of moral hazard applies here: Investors took risk hoping for an extremely high return, knowing the downside. Those who chose not to invest because they thought it unsafe will now bear the loss? That is not real responsibility at all. To be responsible is to be answerable for your decisions. It does not mean you must bear the consequences of bad bets made by others. See: worldwide financial crisis, default swaps, too big to fail, and collateralized debt scandal.

3. The idea of raising money from new investors to pay back old investors is the definition of Ponzi's scheme.

4. just by the way, who benefited financially from the expenditures which you now seek to "repay".

5. From what I can tell, the "debt" arose from two sources. Players paid to participate in the war machine. They have received what they paid for. Others bought bonds directly from Rylde, induced his promise to repay with an extremely handsome return, with the assurance that it was his personal obligation. Most unfortunate that investors will have been deceived. Not the government's problem however.

6. Two practical problems exist. Future fundraising may be more difficult; some players may get wiped out and leave the game. A plan to address these might be in order if you are serious about the job of President. Give it some thought before the dictator decides what he will do with the 100,000 sitting in the Victory Bond fund.

Thedillpickl Day 2,693, 16:21

Speaking for myself, I don't care if I'm repaid but...
This is drawing to a close for me. I'll likely be around but probably won't be buying $500 worth of gold to free Canada ever again. Without a huge pile of EBs I just can't change battles.

Simulare Day 2,692, 18:45

Bonds were Canadian. We let rylde speak for all Canada. If you didn't want him to be dictator you shouldn't have let him assume the roll. Just because you were too much a pussy to put your money where your mouth was, don't assume the rest of us were as well

olivermellors Day 2,692, 19:00

his article, written at the time, seems to read otherwise. Vulgarity doesn't add anything.

Maximus.Decimus.Meridius. Day 2,692, 11:16

See people, he is to new to eCanada, he thinks the government owes 500,000 but it is Rylde who owes the people 500,000.

He calls Rylde a great person but Rylde called you all 'useless' souls. Therefore he supports him calling you 'useless'

"I decided to write a last minute article about the CP election mainly"

you decided to write it last minute cause you saw the Kronos Q article and realized he is going to win.

You want to increase taxes haha. People why vote for this guy when you got lower tax Kronos Q to vote for.