Oan Central Bank: Difference between revisions

TheUnder governmentEmperor [[Rangitake]], thegovernment issued a directive that all merchant guilds and the treasuries of island chieftains were required to keep their gold and the government would issue all promissory notes to be used by the nation. With a desire to move away from the Morsts, the Oans named the new money waahanga. This became the National currency, but this did not stop the cost of goods and services from skyrocketing and the government from taking on more debt. When the war ended, the government of Emperor Rangatike issued a Decree making it practically illegal to use gold in everyday transactions and bought all the gold in the country with new tara (dollar) notes and tokens (coins of low value metals). The Treasury of the Oan Isles was given the authority to control the volume of taras with the mandate of controlling inflation.