[Derp] First Bank of the United States?

Day 3,889, 07:32 • Published in USA USA • by Derphoof

Not much really goes on in Shadow Congress. Unless there’s a major change in Foreign Affairs, spending, or peace to be signed, Congress really has nothing to do. Our budget is frozen, our wars continue, and the executive team is still working out our tricky place in foreign affairs.

However, that does not stop some from coming up with rather creative ideas.

Chickensguys’ latest proposal centers on the finances of this game. In a time when we are at war, with little income, finances are on the mind of many a congressman. Even in peacetime, many nations and players are concerned with how much money is at their disposal.

Now, before we go further, I urge you to approach this with an open mind. Don’t come at it with your preconceived notions of CG, or think of it through partisan lenses. Don’t come at this as Federalists, Sheep, or Constitutionalists. Rather, come as Americans and take the idea at its own value.

CG has proposed the idea of a Central Bank. This would be a new bureaucratic agency that has the power to raise money by issuing government bonds. Players could purchase bonds, backed by the US Treasury, which would be paid back with interest when the bond matures. The idea is that players could help grow the reserve and expect a profit returned to them, in due time. Just as well, the bank could give loans to players and countries who request them.

This would be a big undertaking, with numerous challenges.





The first is proving that the US Gov’t is a trustworthy entity to do business with. To solve that, I’d propose that we start off small with War Bonds to US Citizens only. Establishing trustworthiness with your own populace is a good first step. After all, why would foreign entities want to do business if your own citizens don’t trust you.

With war bonds, the gov’t could increase its reserves during these trying times, and start repayment when a certain amount of regions have been regained. After all, we need money to fight any modern war. While we aren’t starved for cash, extra money never hurts.

From there, the Bank could move on to dealing with foreign entities.

Issuing bonds to foreign citizens and countries would work the same way, with money being paid back over time, or with the maturation of a bond. Our only concern would be having the money to pay them back at the right time, and not defaulting on those debts. The trick would be finding a rate that appeals to players enough to invest in.

The only true logistical issue that CG’s proposal has, is loaning money out to citizen and governments. As admins stopped enforcing contracts long long long ago, there’s no way to enforce repayment of loans. So, in terms of encouraging repayment, there are few options. We may be able to create a tiered system of credit building, as debtors pay back frequently, so the bank “trusts” them to repay. We may simply have to keep a list of scammers to shame on a frequent basis for being delinquent… or both. There’s no easy way to solve this, and no simple way to ensure the bank doesn’t get scammed.





A banking system has merit, but will require quite an active staff to oversee its administration. However, with creative problem solving, most of these challenges could likely be overcome. We could build trust within the nation, and in the international community by building a reputable institution. In an age where the eUS needs to rebuild it’s reserves and it’s credibility, such a proposal (while lofty) may not be so crazy after all.