WA Resolution: Fairness in Currency Exchange

[Hockeynutville]

Fairness in Currency Exchange
A resolution to reduce barriers to free trade and commerce.

Category: Free Trade
Strength: Significant
Proposed by: FlagKrioval


Description: The World Assembly,

RECOGNIZING the importance of international commerce and industry,

DETERMINED to promote both free and fair opportunities for international trade,

NOTING that the most WA member nations have their own separate currencies, and that the effective values at which these can be exchanged for each other can vary from market to market as well as over time,

CONCERNED that inefficiencies involved in this exchange process, including a lack of up-to-date knowledge about effective values, may impede the natural flow of trade between nations;

DECLARES that the governments of WA member nations may not:
1. Impose any special taxation upon the process of exchanging any one nation’s currency for any other nation’s currency within their jurisdictions, nor permit any sub-national government or other organisation within their jurisdictions to do so either, although any general taxes that are applicable to all other forms of commercial activity therein may also be imposed upon this business;
2. Allow the existence of any legally-protected monopolies or oligopolies over this currency- exchanging business within their jurisdictions, unless these are granted purely to government agencies that do not operate on a profit-making basis and whose fees for carrying out the transactions concerned do not exceed the levels that are necessary to cover their reasonable expenses;
3. Permit any bodies that are carrying out currency-exchanging operations within their jurisdictions to practice unfair discrimination in this process;

CREATES the World Currency Exchange Commission (or WCEC) to monitor exchange rates between the currencies of World Assembly members, and declares that:
1. WCEC must collect accurate information about international exchange rates, on as frequent a basis as is reasonably possible, and must make this information freely available to all WA member nations’ governments;
2. All national governments of WA member nations must cooperate with WCEC in the gathering of this data, and must make the information that WCEC provides to them freely available upon request to all relevant organisations within their jurisdictions;
3. WCEC has the power of binding arbitration in any appeals about the application of this resolution’s terms within particular nations that may be brought before it, including the power to order the payment of appropriate compensation to any people who have been adversely affected by abuses of these rules, and there is a general right of appeal from all member nations’ own legal systems to WCEC for this purpose.

Co-author: Bears Armed.

[Greek People Nation (GPN)]

No,

CREATES the World Currency Exchange Commission (or WCEC) to monitor exchange rates between the currencies of World Assembly members, and declares that:
1. WCEC must collect accurate information about international exchange rates, on as frequent a basis as is reasonably possible, and must make this information freely available to all WA member nations’ governments;
2. All national governments of WA member nations must cooperate with WCEC in the gathering of this data, and must make the information that WCEC provides to them freely available upon request to all relevant organisations within their jurisdictions;
3. WCEC has the power of binding arbitration in any appeals about the application of this resolution’s terms within particular nations that may be brought before it, including the power to order the payment of appropriate compensation to any people who have been adversely affected by abuses of these rules, and there is a general right of appeal from all member nations’ own legal systems to WCEC for this purpose.

[morlago]

Sorry, pressed the wrong button. That should say no at the poll.

[Chronopolice]

This Resolution will not benefit currency based systems but rather enhances their inherent flaws.

The USSC votes No.