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Update on the Money Market and the value of the NLG

Day 996, 02:13 • Published in Netherlands

• by Ministerie van Economische Zak

Dear fellow citizens,

In the last week we have seen a controlled decline of our currency (the Nederlandse Gulden or NLG) and the increased price of gold. This was done by me, the Minister of Finance, because things have changed enormously with the introduction of V2. Gold has received an increased importance and demand has therefore risen dramatically and reduced the demand for local currency. This is a worldwide trend and governments responded by devaluating their currencies. In order to keep our companies and products competitive we had to devaluate the NLG as well.

Another side effect of the increased importance of gold is that the NL government is the only one selling gold and this is affecting our gold reserves. However, we are not yet in danger or on the brink of it but the declining reserves are something to be aware of as gold is needed to backup the NLG, sign MPP’s and open wars and battles.

As we speak we are coming to what i consider an "acceptable rate" which will result in the NLG stabilizing. Further devaluation or appreciation will depend on how the new "Food Consumption Project" will work. Seeing we export a lot of bread and grain abroad i am very hopeful this will increase the demand for our NLG.

If you have any questions or remarks feel free to let me know.

Regards,

Mitch Rapp
Minister of Finance

Comments

Boklevski Day 996, 02:38

Thanks for the update.

For what it's worth: I'm fully behind your decision.

Daniel Parker Day 996, 04:53

good work Mitch

VOC Foundation Day 996, 05:23

Where will this end? U need a strong currency for a strong economy!
People will leave cause they earn more somewhere else!
Its a misunderstanding that deflation of our currency is good for all...

Mitch Rapp Day 996, 06:14

There is nowhere else where they can earn more. Russia, Serbia, Hungary, USA and many others of the big countries devaluated their currency much more then we did.

Second of all people cant go anywhere because there are no jobs anywhere. I am in Hungary and yesterday in Serbia and there are no jobs for me, level 11, that pay more then 0.40.

The devaluation is especially good for you VOC Foundation because you depend on export to sell your products.