EDEN: FCA Retains Primacy

Chair of the Financial Conduct Authority Horatio Eden has issued a statement clarifying the FCA’s primacy over the soon-to-be founded Quetican Micronational Stock Exchange.

In light of the QMSE’s increasing media attention, I would like to reiterate to the micronational community that it is the Financial Conduct Authority, chaired by myself, that is the primary body of financial legal enforcement in the Micronational Dollar economy, rather than the Overseer of Quetico Street.

– Horatio Eden, Chair of the FCA

With the Exchange to open tomorrow, this will not be a welcome statement with founder Henry Twain, who has spent considerable time hyping his creation. There are a few companies already registered (including the RadioMicro Group, who own themicronational), who await their IPO tomorrow.

Despite that, it seems unlikely that the statement will unduly affect the QMSE on its opening day. However, should the QMSE  ever finds itself in deep water legally, it seems likely that the FCA will be hot on its heels.

The M$ Advertiser | Issue 2

The Micronational Dollar has starting strong. We’re now up at 47 accounts, with M$560 in circulation, and total cash flow is now up at M$109 since things began!

We’ve also started valuing the currency. The Intermicronational Bank uses a market basket technique to place a value on M$1. The current estimated value of M$1 is £2.19.

If you haven’t signed up yet, do! Go to the link here to register for a free account – you receive M$10 for free…

The M$ Advertiser is a regular publication, giving a few updates on the system, and letting you know what you can spend M$ on.


The M$ | Updates

Things are going well! The Intermicronational Bank has 47 accounts registered, and three new banks have either been set up, or are in the process of being set up. There is approximately M$560 in circulation.

The IBV has been changing slightly – there was a dip on the 18th to 1.64, which has now risen to 2.19. You can see the market basket being used below.

IBV 19.03.2016
The IB Market Basket (graphic slightly outdated)

The IBV changes more according to information the IB receives than market shifts, so if you think any of the information on the valuation is wrong, do please get in touch at peregrine230@gmail.com

The Financial Conduct Authority has been founded independently by Horatio Eden, which serves as a market regulator and consumer protection authority. It is also responsible for competition regulation and fraud.

The M$ also has a MicroWiki page here.

Cash flow has increased to M$109 – we’ve passed 100!

Three new banks have been set up or are in the process of being set up. The National Banks of Loquintia, Whestcorea, and the Star Kingdom are all to operate with the M$.

The lottery fund is growing! Whoever wins on the 31st will receive M$16, making them, in all likelihood, one of the richest M$ users.

On the subject of gambling, a new game has been started – MicroBet! You can have a look at gameplay here.

In slightly more unfortunate news, an account has had to have been seized. Account ten, under the name of Zimmerman I has been seized by the Intermicronational Bank on suspicion of actually being registered by Dallin Langford. We’d like to take this opportunity to remind people that fake names must not be used to register M$ accounts with the IB.


 

The M$ | What You Can Buy

RadioMicro, the Daily Micronational, and themicronational are all accepting advertising. The Daily Micronational charges M$4 for an advert, and themicronational M$2. A 30 second advert on RadioMicro costs M$4, which includes full production assistance, including original music. Email peregrine230@gmail.com for RadioMicro and themicronational, and horatioeden@gmail.com for the Daily Micronatonal.

The Dollar Lottery is a good small purchase for those who want to make some more M$. For M$1, you can get a lottery ticket – a monthly draw selects one ticket holder, who then receives all of that month’s ticket sales! Make a transaction to account number 4.

MicroBet is there for those of you who want a game. Based on a very simple premise, you could make your fortune!  See gameplay here. Contact peregrine230@gmail.com if you want to try it for yourself.

Saltborn Consulting provides for all your needs in IT, translations and project management. Do you want us help to setup a blog? To create a MicroWIki page? To assist you with getting your project organized? Low fees are guaranteed. Email latitudia@gmail.com, account number 24.

circleplug is an advertising agency with a soul. As soon as you have your great advertising idea, they are with you, and will immediately begin assisting you in the creation of your advertisement. They also offer full creation services for your advertisement. Once your idea is realised, they will distribute it across the board of micronational media so that it gets the attention it deserves. All for extremely affordable rates! Email hughmcfarlane@exemail.com.au, account number 18.

NewsWatch will gather all news references of you in micronational news sources and collate them for you. There’s a monthly subscription fee of M$1. Email peregrine230@gmail.com, account number 5.

THIS IS BUSINESS IS CURRENTLY UP FOR SALE. CONTACT OWNER IF INTERESTED.

The Lockheart Management Firm will provides management services and research. For instance, if you were setting up a new organisation, you might pay them to help you organise recruitment. Alternatively, you might ask them to research how best to drive more visitors to your website. Email jacksoncole556@gmail.com, account number 7.

McCarthy’s Consulting will provide legal aid, or public relations services. They can help get you mentioned in news articles, or advise you on how to deal with a particular legal quandary. Email peregrine230@gmail.com, account number 12.

freedom | graphics is your number one stop for graphic design. Run by designer Kit McCarthy (Nollandish Confederacy logo, Mercian Parliament logos, Nollandish Government logos, Ragged Flagon logo), they can provide logos, adverts, and other designs for very reasonable prices. Email peregrine230@gmail.com, account number 5.


The M$ | Job Opportunities

themicronational is looking for all content producers, and will pay up to M$2 for articles, and M$1.5 for every cartoon or microball published. peregrine230@gmail.com


Media

See some of our media coverage here.

New Intermicronational Currency Founded

12 Tips for the M$

M$ Value Calculated

Whestcorea to Establish National Bank

M$ Get Business Moving in MicroWiki

To put a notice in The M$ Advertiser, please email peregrine230@gmail.com

Amtra M$ Account Seized

The Intermicronational Bank has seized the M$ account of Zimmerman I, registered by the name of Emma Amtra, on suspicion it has been created fraudulently.

Kit McCarthy, head of the Intermicronational Bank, released a statement:

I have been advised by Horatio Eden, head of the Financial Conduct Authority, to seize the account of Zimmerman I, registered under the name of Emma Amtra, who is believed to be another name for DRCC General-Secretary Dallin Langford. As such, the account shall be frozen, and its assets will be seized by the Intermicronational Bank, and in turn be forwarded to the Micronational Dollar Institute.

Dallin Langford plead guilty in a criminal case put against him by the Universal Triumvirate, on charges of dual identity and espionage. On seeing Amtra’s name registering an account, the Financial Conduct Authority was asked to investigate further.

Flag
DRCC Flag

 

They decided that by the Universal Triumvirate ruling and Langford’s guilty plea, it seemed probable that the account had been registered by Mr Langford under a false name.

Edited.PNG
Amtra’s registration

 

Concerns were raised that as all new accounts receive M$10 for free, this would allow Langford to access greater funds to others.

Horatio Eden of the FCA said the following:

Following the Universal Triumvirate case, as well as general inconsistencies in Mr Langford’s story, the FCA has come to the conclusion that Mr. Langford and Ms. Amtra are, in fact, one and the same person, and we have thus acted on this conclusion by seizing the account in Ms. Amtra’s name. We may deign to take further action if deemed necessary.

The account, Zimmerman I, has now been frozen and its assets seized.

Featured Image -- 934
The Micronational Dollar

 

Mr Langford has claimed that Emma Amtra is his sister under a pseudonym, but has not been able to offer any evidence in support of that view.

Mr Langford has not yet responded to the seizure, nor has the wider community. It is unknown how this will affect his candidacy in the upcoming DRCC elections.

This is the first issue the new Financial Conduct Authority has been involved in, and the first major issue the Micronational Dollar system has faced.

12 Tips for the M$

So, you’re using the new Micronational Dollar, are you? Great! We got Kit McCarthy, founder of the currency, to share some tips.

  1. Buy and sell lots! – M$ are there to be used! If the currency is to work, we need circulation.
  2. Use bigger numbers – don’t be afraid to charge someone M$6 instead of M$2. M$ are very much what you make them, and using larger numbers keeps circulation going, and the economy healthy. Surprisingly, we actually want a little inflation, as the less M$1 is worth, the more convenient it will be.
  3. Use it as an economy – for all we talk of Micronational economies and trade, it’s never really been possible for it to happen. We hope it could now. If you’re a budding economist, get involved! The Intermicronational Bank needs people with economic knowledge to help calculate value, and control the money supply.
  4. Get others involved – everything’s better with friends! The currency needs people using it, so get others to sign up.
  5. Join the chatroom – our official Skype chatroom is a great location to get in touch with other users and make the most of the M$. Contact Kit McCarthy.
  6. Read the Advertiser – the M$ is a great place to find out what’s for sale, and find jobs. It’s published regularly on themicronational. If you’ve got a business, make sure it gets listed in the Advertiser.
  7. Start a business – try starting a business to make yourself some profit! Business is what the M$ need, so get the economy kick-started and start selling.
  8. Try the Lotto – The Dollar Lottery is a great for those who want to make some more M$. For just M$1, you could win the lot – at the time of writing, there was M$12 up for grabs.
  9. Get a job – an economy needs employment! If you don’t want to start a business, consider joining another. There are often adverts in the Advertiser for jobs that are available.
  10. Use it for trade – could your micronation start international trade? There’s no reason why not, if you can come up with a good thing to sell. What could you do then?
  11. Remember the FCA – if you ever have any problems using the M$, go to the Financial Conduct Authority (FCA), run by Horatio Eden. They are there to watch over the system and provide consumer protection. Get in touch at horatioeden@gmail.com
  12. Keep an eye on the IBV – watching the IBV (the Intermicronational Bank’s valuation of the M$) is a great way to decide how to set business prices. It is published regularly by the IB on themicronational.

Good luck!

M$ Value Calculated – £2.33

The Intermicronational Bank has estimated the value of M$1, using a market basket.

The Intermicronational Bank of the new Micronational Dollar has announced the IBV (Intermicronational Bank Valuation), which estimates the Pound Sterling value of M$1. The first figure they have arrived at is 2.33, meaning that M$1 is worth approximately £2.33.

A statement by the IB however said that this was a poor estimate, including very few goods, and inaccurate estimates. As time goes by, they hope to improve the IBV quite drastically, mainly by adding further groups to their listing.


What is a market basket?

A market basket is a tool in economics used to measure the value of a currency. It finds the prices of various products, and then uses that to make a valuation.


How is the IBV calculated?

The IB gathered a list of available goods on the M$ system, and estimated Pound Sterling prices for them. For each item, it then calculated the value of M$1, and then averaged all of those calculations out.


What was in the market basket?

The market basket consisted of 11 items:

  1. A Daily Micronational advert
  2. A themicronational advert
  3. A RadioMicro advert
  4. A circleplug advert creation service
  5. A lottery ticket
  6. PR management from McCarthy’s Consulting
  7. Attorney hire from McCarthy’s Consulting
  8. A NewsWatch subscription
  9. A freedom | graphics logo
  10. Wiki page design from Saltborn Consulting
  11. Organisation set-up

What next?

The IB expects to re-release the IBV tomorrow, and expects to see a dramatic change, although it was not specified in which direction.
They have also announced a competition, with a prize of M$5 for whoever can themselves design the best M$ valuation.

The M$ Advertiser | Issue 1

So, the M$ has launched! There are currently 32 accounts, and M$410 in the system. You can read about it here, and here.

If you haven’t signed up yet, do!. Go to the link here to register for a free account – you receive M$10 for free…

The M$ Advertiser will be a regular publication, giving a few updates on the system, and letting you know what you can spend your new M$ on.


The M$ | The First 24 Hours

The currency has started promisingly, with 32 new accounts, and M$410 being created. There are the first listings on the M$ Business Listing, there’s been a Daily Micronational article on the currency, and the Dollar Lottery has sold eight tickets. The cash flow has been M$31, meaning that M$31 has been spent on various things.


The M$ | What You Can Buy

We are delighted to already be able to offer, after less than 24 hours, a superb range of different products and services!

RadioMicro, the Daily Micronational, and themicronational are all accepting advertising. The Daily Micronational charges M$4 for an advert, and themicronational M$2. A 30 second advert on RadioMicro costs M$4, which includes full production assistance, including original music. Email peregrine230@gmail.com for RadioMicro and themicronational, and horatioeden@gmail.com for the Daily Micronatonal.

The Dollar Lottery is a good small purchase for those who want to make some more M$. For M$1, you can get a lottery ticket – a monthly draw selects one ticket holder, who then receives all of that month’s ticket sales! Make a transaction to account number 4.

Saltborn Consulting provides for all your needs in IT, translations and project management. Do you want us help to setup a blog? To create a MicroWIki page? To assist you with getting your project organized? Low fees are guaranteed. Email latitudia@gmail.com, account number 24.

circleplug is an advertising agency with a soul. As soon as you have your great advertising idea, they are with you, and will immediately begin assisting you in the creation of your advertisement. They also offer full creation services for your advertisement. Once your idea is realised, they will distribute it across the board of micronational media so that it gets the attention it deserves. All for extremely affordable rates! Email hughmcfarlane@exemail.com.au, account number 18.

NewsWatch will gather all news references of you in micronational news sources and collate them for you. There’s a monthly subscription fee of M$1. Email peregrine230@gmail.com, account number 5.

THIS IS BUSINESS IS CURRENTLY UP FOR SALE. CONTACT OWNER IF INTERESTED.

The Lockheart Management Firm will provides management services and research. For instance, if you were setting up a new organisation, you might pay them to help you organise recruitment. Alternatively, you might ask them to research how best to drive more visitors to your website. Email jacksoncole556@gmail.com, account number 7.

McCarthy’s Consulting will provide legal aid, or public relations services. They can help get you mentioned in news articles, or advise you on how to deal with a particular legal quandary. Email peregrine230@gmail.com, account number 12.

freedom | graphics is your number one stop for graphic design. Run by designer Kit McCarthy (Nollandish Confederacy logo, Mercian Parliament logos, Nollandish Government logos, Ragged Flagon logo), they can provide logos, adverts, and other designs for very reasonable prices. Email peregrine230@gmail.com, account number 5.


The M$ | Job Opportunities

themicronational is looking for cartoonists, and will pay M$1.5 for every cartoon or microball published. peregrine230@gmail.com

The Micronational Dollar Institute is looking for an admin assistant who will help deal with new accounts, transactions, and managing the M$ system. Negotiable pay.

 

To put a notice in The M$ Advertiser, please email peregrine230@gmail.com