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2011 Grandian Financial Crisis

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2011 Grandian Financial Crisis

Post by emperordaniel on Thu Mar 17, 2011 1:39 am

Here's all the updates for the current financial crisis in Grand...

Week 1: March 6-13


The crisis began on March 6th, while the Royal Family was vacationing in Cattala, under mysterious circumstances. The value of the decigre was very high, at a couple hundred dollars to the decigre, when suddenly the value began to go down. At first nobody thought much of it, assuming it was simply a normal fluctuation, but people began to take notice a couple days later, when they first saw that the current value was only 121 dollars to the decigre, and then, they realized that it hadn't stopped going down for the last few days. By midday on the 12th, the decigre had an exchange rate of 1 RD/1 USD, and by the 13th, it had dropped to about 1.5 RD/1 USD, the first time in history that the decigre had been lower than the dollar. The King-Emperor was said to be discussing declaring a state of financial emergency, and what the repercussions might be.
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emperordaniel

Number of posts : 590
Registration date : 2011-01-10
Age : 21
Location : Lake Tranquil Royal Palace and Castle, Republican Kingdom of Grand and Belluterra

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Week 2: March 13-20

Post by emperordaniel on Sun Mar 20, 2011 3:59 pm

Week 2: March 13-20


After the catastrophic crash, the speed at which it was dropping slowed down significantly, but it was still dropping. The King declared a state of financial emergency, and made gold legal tender in the nation as well. He said decigres could be exchanged for gold at the National Bank at the rate of 1 decigre=1 gram, until the decigre would drop beneath 4.00 RD/1.00 USD. Only about 1,500 people had exchanged their decigres by the 15th, when the rate was 4.15 RD/1.00 USD. Although the King declined to comment on the issue, rumors were circulating about how he would try to combat it, ranging from a re-backing of the currency with gold, to suspending most high-spending government projects like Project Marshlands, to suspending the constitution (although nobody knows how that would work). By the morning of the 20th, the rate was 5.91 RD/1.00 USD, and the King was said to be considering declaring a state of national emergency.
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emperordaniel

Number of posts : 590
Registration date : 2011-01-10
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Location : Lake Tranquil Royal Palace and Castle, Republican Kingdom of Grand and Belluterra

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Week 3a: March 20-22

Post by emperordaniel on Thu Mar 24, 2011 6:42 am

As the Decigre continued to plunge, so much stress was placed on the King that he got very sick, and slightly mad. His Royal Highness Crown Prince Charles was crowned Emperor-Regent under Article III, Section I, Clause V of the constitution, and will hold this post until either one of two things: either the King recovers, or he dies. If he recovers, he will lose the post. If he dies, he will ascend to the throne as King Charles I. Some of the Emperor-Regent's first acts in said post were 1) to adjourn Parliament as a useless bureaucratic tool in a time like this, 2) to suspend all but Article I (rights of civillians) of the constitution, essentially making him an absolute monarch. His third act as Regent was to peg the Decigre at 10.00 RD/01.00 USD, in the hopes of stabilizing the economy. He also stepped up the ongoing search for his older sister, who is still missing.
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emperordaniel

Number of posts : 590
Registration date : 2011-01-10
Age : 21
Location : Lake Tranquil Royal Palace and Castle, Republican Kingdom of Grand and Belluterra

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Week 3b: March 22-25

Post by emperordaniel on Fri Mar 25, 2011 3:19 pm

Week 3b: March 22-25


It worked! Not only has the decigre now stabilized, but now the economy is recovering! People can get back to their jobs! Bosses can raise their employees' salaries! Food isn't prohibitively expensive anymore! The Emperor-Regent's decision to suspend the constitution is being applauded by most of the population, who are decidedly promonarchist.

Some bad news:

-The king is still gravely ill, and shows no sign of recovery as of yet.
-The Princess Royal, May Petersroy, is still missing, with no clue as to her dissapearence discovered since she went missing on the 13th, and officials are getting more and more hopeless that they will find her alive, if they ever find her.
-There are signs of unrest in La-me Province, and more soldiers are being sent there as we speak.
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emperordaniel

Number of posts : 590
Registration date : 2011-01-10
Age : 21
Location : Lake Tranquil Royal Palace and Castle, Republican Kingdom of Grand and Belluterra

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