Economy of Kalgachia: Difference between revisions
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Although traditionally expressed as a fraction for high-value transactions, sub-Kalgarrand amounts are expressed decimally as Millirand (thousandths of a Kalgarrand) in everyday use. | Although traditionally expressed as a fraction for high-value transactions, sub-Kalgarrand amounts are expressed decimally as Millirand (thousandths of a Kalgarrand) in everyday use. | ||
===Projected | ===Projected gold and currency use for the year 158 [[Kalgachia#Calendar|AL]]<ref><small>158 AL corresponding to the period from November 2nd to November 12th, 2017 in the Earth calendar.</small></ref>=== | ||
{| class="wikitable" border="1" | {| class="wikitable" border="1" | ||
| Line 31: | Line 31: | ||
! scope="row" | Gold mined and smelted | ! scope="row" | Gold mined and smelted | ||
! scope="col" | Gold allotted to industrial/aesthetic uses | ! scope="col" | Gold allotted to industrial/aesthetic uses | ||
! scope="col" | Gold committed to | ! scope="col" | Gold committed to Strategic Bullion Reserve | ||
! scope="col" | Gold exported abroad from Strategic Bullion Reserve | |||
! scope="col" | Gold minted into Kalgarrand | ! scope="col" | Gold minted into Kalgarrand | ||
! scope="col" | Kalgarrand | ! scope="col" | Kalgarrand spent abroad from domestic circulation | ||
! scope="col" | Kalgarrand released into domestic circulation | ! scope="col" | Kalgarrand released into domestic circulation | ||
! scope="col" | Kalgarrand spent abroad from | ! scope="col" | Kalgarrand spent abroad from Strategic Currency Reserve | ||
! scope="col" | Kalgarrand | ! scope="col" | Kalgarrand committed to Strategic Currency Reserve | ||
|- | |- | ||
| 150 tonnes || | | 150 tonnes || 33 tonnes<br>(from new gold production) || 20 tonnes<br>(from new gold production) || none || 97 tonnes totalling 3,118,971 kgr<br> (from new gold production) || ~200-850 kgr || ~200-850 kgr<br> (from newly minted currency) || ~2,000-4,500 kgr || ~3,118,121-3,118,771 kgr<br> (from newly minted currency) | ||
|- | |- | ||
|- | |- | ||
|} | |} | ||
===Cumulative Gold and Currency | ===Cumulative Gold and Currency Stocks (149-157 AL<ref><small>149-157 AL corresponding to the period from August 5th to November 1st, 2017 in the Earth calendar.</small></ref>)=== | ||
{| class="wikitable" border="1" | {| class="wikitable" border="1" | ||
|- | |- | ||
! scope="col" | Total | ! scope="col" | Total Bullion in Strategic<br> Reserve at end of 157 AL | ||
! scope="col" | Total Kalgarrand in Strategic<br> Reserve at end of 157 AL | |||
! scope="col" | Total Kalgarrand in domestic<br> circulation at end of 157 AL | |||
! scope="col" | Total Kalgarrand abroad<br> at end of 157 AL<ref><small>Owing to the inflation of Kalgachi bullion stocks over time, conversion of Kalgarrand into foreign currency is best subjected to a temporal modifier in accordance with the varying flow of time between the ''Anno Libertatis'' and other calendars (conversion of Kalgarrand to currencies of nations operating under ''Ab Nortone'', for instance, requiring the sum total of other variables determining the rate of exchange to be divided by three for a real-terms figure. Conversion of Kalgarrand to currencies of nations operating in uncompressed Earth time would require the rate to be divided by 36.5. The Reserve Bank of Kalgachia cannot be held responsible for inflationary events, currency crashes or bankruptcies arising from the renunciation of this advice nor, conversely, the gaming of global currency markets for personal profit by the exploitation of [[shire:Temporal Haemorrhaging|temporal heamorrhaging]].)</small></ref> | |||
! scope="col" | Total Kalgarrand | |||
! scope="col" | Total Kalgarrand in | |||
! scope="col" | Total Kalgarrand | |||
|- | |- | ||
| | | 180 tonnes || 12,916,604 kgr || 16,000,000 kgr || 22,302 kgr | ||
|- | |- | ||
|- | |- | ||
|} | |} | ||
________________________________________________ | |||
[[Category:Kalgachia]] | [[Category:Kalgachia]] | ||
Revision as of 17:44, 3 November 2017
The Economy of Kalgachia has several distinctive features determined by the geography of the country, its natural resources, its geopolitical isolation and the work ethic of its largely-migrant first generation. It tends heavily toward the production and exchange of physical commodities, with most aspects of the service and infrastructure sectors being nationalised or church-owned as was the case in its predecessor state, Minarboria.
Land Ownership
Although free economic enterprise is nominally permitted in Kalgachia, it falls short of capitalistic excess in large part due to the monopoly on land ownership held by the various organs of Kalgachi state - the vast majority being held by the Church of Kalgachia and its various provincial enterprises - effectively eliminating real estate as a tradeable asset or source of collateral for private individuals. Homes are generally owned by the employers of those who reside in them, the rights to such tied accomodation remaining with the employee into their retirement and extending to their dependants until the employee's death. Each parish of the Church of Kalgachia also runs a poor relief scheme whereby invalids, orphans and similarly worthy destitutes with no other means of support can be housed and fed.
The Primacy of the Church
The Church of Kalgachia is responsible for the economic development of its subject parishes, acting on the advice of the Directorate of Labour and Economic Planning (DLEP) which coordinates balanced economic development between the provinces of Kalgachia as a whole. Any government entity may lodge a tithe order with the DLEP for its resourcing, which the Church of Kalgachia is obliged to exact from its subject congregations and businesses. In doing so it invariably skims off an excess of its own, such action at scale combining with its land holdings and wholly-owned enterprises to give the Church by far the greatest concentration of wealth in Kalgachia, and making it the primary entity against which monetary transactions are undertaken.
Important Sectors
Most economic activity in Kalgachia is concerned with agriculture and its associated trades; Kalgachia must feed its population from narrow arable strips in river valleys and hillside terraces with upland sheep and goat pastures, a difficult process to undertake intensively and requiring a sizeable portion of the Kalgachi labour force. Mining is the second most important sector, mainly gold for foreign trade and tungsten for kinetic armaments. Forestry is also a notable sector, occurring mainly in conifer plantations along the lower hills of the Kalgachi frontier which serve a second purpose as cover for defending troops and partisans in the event of an invasion. Kalgachia has also seen the emergence of a textile industry, turning the wool obtained from flocks of mountain sheep into all manner of insulating garments.
Labour force
The Kalgachi labour force is set to transition away from a motivated first generation of migrants, the fecklessness of their more settled children being compensated by a steady intake of Froyalanish Community Service Workers from Shireroth as payment for various exports. These workers, being of a pariah race widely considered to have forfeited their humanity and enjoying no citizenship rights, can be worked as hard and long as their bodies can physically withstand without social repercussion. Although they consitute an important presence in the field of menial labour, the Froyalanish are projected to be eradicated or assimilated as an identifiable ethnic group within a few generations and the planners of the DLEP are considering future alternatives.
Currency
Kalgachi currency adheres to a very literal form of the gold standard, containing that precious metal physically within all its denominations. The base unit of Kalgachi currency is the Kalgarrand (kgr), a coin of 99.9% fine gold at a weight of 31.1 grams (1 troy ounce), 2mm thickness and a very small diameter of 18.08mm. Owing to its immense value and impractical ductility, the Kalgarrand coin is not often used in everyday commerce and where it is, it is invariably mounted within a protective casing. Denominations of Kalgarrand are minted as an alloy of tin with the appropriate proportion of gold content. The most valuable of these is the Half Kalgarrand, of equal weight in both gold and tin although the lesser density of the latter results in a larger coin of 22.44mm diameter. Coins of lower value retain the Half Kalgarrand's size, but with less gold and more tin as appropriate to their denomination. The differing proportions and densities of the alloyed metals give each coin a unique lustre and weight profile which aids greatly in authentication, although this variance is less discernible in lower denominations and generally requires specialised analysis such as spectrometry.
Although traditionally expressed as a fraction for high-value transactions, sub-Kalgarrand amounts are expressed decimally as Millirand (thousandths of a Kalgarrand) in everyday use.
Projected gold and currency use for the year 158 AL[1]
| Gold mined and smelted | Gold allotted to industrial/aesthetic uses | Gold committed to Strategic Bullion Reserve | Gold exported abroad from Strategic Bullion Reserve | Gold minted into Kalgarrand | Kalgarrand spent abroad from domestic circulation | Kalgarrand released into domestic circulation | Kalgarrand spent abroad from Strategic Currency Reserve | Kalgarrand committed to Strategic Currency Reserve |
|---|---|---|---|---|---|---|---|---|
| 150 tonnes | 33 tonnes (from new gold production) |
20 tonnes (from new gold production) |
none | 97 tonnes totalling 3,118,971 kgr (from new gold production) |
~200-850 kgr | ~200-850 kgr (from newly minted currency) |
~2,000-4,500 kgr | ~3,118,121-3,118,771 kgr (from newly minted currency) |
Cumulative Gold and Currency Stocks (149-157 AL[2])
| Total Bullion in Strategic Reserve at end of 157 AL |
Total Kalgarrand in Strategic Reserve at end of 157 AL |
Total Kalgarrand in domestic circulation at end of 157 AL |
Total Kalgarrand abroad at end of 157 AL[3] |
|---|---|---|---|
| 180 tonnes | 12,916,604 kgr | 16,000,000 kgr | 22,302 kgr |
________________________________________________
- ^ 158 AL corresponding to the period from November 2nd to November 12th, 2017 in the Earth calendar.
- ^ 149-157 AL corresponding to the period from August 5th to November 1st, 2017 in the Earth calendar.
- ^ Owing to the inflation of Kalgachi bullion stocks over time, conversion of Kalgarrand into foreign currency is best subjected to a temporal modifier in accordance with the varying flow of time between the Anno Libertatis and other calendars (conversion of Kalgarrand to currencies of nations operating under Ab Nortone, for instance, requiring the sum total of other variables determining the rate of exchange to be divided by three for a real-terms figure. Conversion of Kalgarrand to currencies of nations operating in uncompressed Earth time would require the rate to be divided by 36.5. The Reserve Bank of Kalgachia cannot be held responsible for inflationary events, currency crashes or bankruptcies arising from the renunciation of this advice nor, conversely, the gaming of global currency markets for personal profit by the exploitation of temporal heamorrhaging.)
