BBank of MinceIn Mince We Trust

BANK OF MINCE

The Charter of the Bank of Mince

The rules, responsibilities and authority under which the Bank of Mince operates.

Section I — Purpose of the Bank

1.1 Primary Objectives

The Bank of Mince shall act as the central monetary authority of the server economy. The Bank shall pursue the following objectives:

  1. To maintain a stable and functional economy.
  2. To preserve the value and stability of the currency.
  3. To encourage the frequent exchange of goods and services.
  4. To support long-term economic planning and sustainable growth.
  5. To prevent excessive inflation, inequality, and economic collapse.

1.2 Transparency and Monetary Integrity

The Bank shall operate on principles of transparency and full reserve backing. The following practices are prohibited:

  1. Fiat currency creation without declared public backing and policy justification.
  2. Fractional reserve banking or unbacked lending.
  3. Concealment of state reserves, taxation, or monetary operations.

The Bank treasury and monetary policies shall remain publicly inspectable.

1.3 Role of the Governor

The Governor of the Bank shall oversee the daily operations of the Bank and enact policies consistent with this Charter and the current public mandate. The Governor shall possess operational independence except where restricted by motions passed under Section VII.

Section II — Currency and Treasury

2.1 Official Currency

Raw Beef shall constitute the official state currency unless replaced under emergency monetary measures.

2.2 State Treasury

The Bank shall maintain a treasury containing state reserves of currency and other state-owned strategic assets. The treasury may be used for:

  1. Loan issuance.
  2. Bond repayment.
  3. Economic stabilisation.
  4. Emergency interventions.
  5. Public expenditure programmes.
  6. Funding state organisations.
  7. Strategic state investment.

The Governor may deploy treasury assets for the purposes listed in this Charter, provided such actions are consistent with the current public mandate and the economic objectives of the Bank.

Section III — Taxation and Monetary Control

3.1 Meat Production Tax

The Bank shall maintain a progressive taxation system on raw meat production.

3.2 Production Tax Structure

  1. A tax-free allowance shall apply each week.
  2. Production exceeding the allowance shall be taxed at rates determined by the Bank.
  3. A soft production limit may be established, above which a 100% marginal tax rate shall apply.

3.3 Purpose of Taxation

Taxation shall serve primarily as a mechanism for:

  1. Inflation control.
  2. Prevention of excessive currency production.
  3. Limitation of economic inequality.
  4. Maintenance of economic balance.
  5. Accumulation of state reserves.
  6. Funding public projects and strategic investments.

3.4 Interest Income Tax

The Bank may impose a tax upon interest income received from bonds, deposits, or other financial instruments, in a manner similar to meat production taxation.

3.5 Policy Announcements

Any changes to taxation, tax thresholds, interest rates, deposit rates, bond rates, and other standing monetary policies must be publicly announced before Saturday 00:00 UK time and shall take effect beginning Monday 00:00 UK time. Emergency measures enacted under Section VI are exempt from this requirement.

Section IV — Audits and Inspections

4.1 Inspection Authority

The Bank may conduct inspections or audits of persons, businesses, and government organisations for the purposes of:

  1. Recording currency ownership.
  2. Enforcing taxation.
  3. Monitoring currency production.
  4. Investigating suspected fraud or undeclared reserves.

4.2 Conduct of Audits

Audits shall be conducted reasonably and transparently. Abusing inspection powers for personal gain shall constitute malpractice.

Section V — Bonds, Loans, and Accounts

5.1 Government Bonds

The Bank may issue sovereign bonds to remove currency from circulation, fund expenditure, or stabilise the economy.

5.1.1 Coupon Bonds

Coupon bonds shall provide periodic interest payments with principal repaid at maturity.

5.1.2 Zero-Coupon Bonds

Zero-coupon bonds shall repay principal and accumulated interest together at maturity.

5.2 Loans

The Bank may issue loans to persons, businesses, and government organisations.

5.2.1 Standard Loans

Standard loans shall require fixed periodic interest payments until the principal is repaid.

5.2.2 Alternative Repayment Agreements

The Governor may authorise alternative repayment structures where deemed economically beneficial. Abuse of this power for personal gain shall be considered malpractice.

5.2.3 Restrictions on Self-Dealing

The Governor may not issue loans to themselves or their businesses below the current base interest rate. Issuing such loans is considered malpractice.

5.3 Secured and Limited Liability Lending

5.3.1 Personal Loans

Personal loans may be secured against personal assets.

5.3.2 Business and Government Loans

Limited liability loans may be issued to businesses and government organisations. Such loans shall be secured only against the assets of the relevant borrowing organisation, and shall not create any personal liability.

5.4 Accounts and Deposits

The Bank may offer accounts to persons, businesses, and government organisations. These accounts may:

  1. Hold currency deposits.
  2. Facilitate transfers.
  3. Receive interest payments.
  4. Be used for automated bond or loan payments.

The Bank may offer deposit interest rates to encourage saving during inflationary periods.

Section VI — Emergency Economic Powers

6.1 Emergency Monetary Measures

During periods of severe inflation, economic collapse, or monetary instability, the Bank may:

  1. Temporarily prohibit slaughter.
  2. Introduce replacement currencies.
  3. Conduct state buy-back schemes.
  4. Impose temporary emergency controls.

6.2 Use of Emergency Powers

Emergency powers shall be temporary and proportionate to the economic threat.

Section VII — Governance and Public Oversight

7.1 Economic Coordination Meetings

7.1.1 Policy Meetings

The Bank shall hold bi-weekly policy coordination meetings, where practical, with relevant economic and governmental parties.

7.1.2 Economic Summits

The Bank shall hold monthly economic summits, where practical, open to all players for discussion of long-term economic goals and public mandates.

7.2 Public Mandate

The Governor shall seek to operate the Bank in accordance with the broad economic mandate established through public discussion and summit agreements.

7.3 Motions Against the Governor

7.3.1 Motions of Opposition

Players may raise motions opposing specific Bank policies or decisions. If supported by a majority vote, the Governor must reverse, suspend, or abandon the contested policy.

7.3.2 Motions of No Confidence

Players may raise motions of no confidence in cases of severe malpractice, abuse of power, corruption, or sustained failure to uphold the Charter. If supported by a majority vote:

  1. The Governor shall be forced to immediately resign.
  2. A new election shall be held.
  3. The former Governor may stand for re-election. This shall constitute an appeal.

Section VIII — Amendments

8.1 Amendment Procedure

This Charter may be amended through majority vote at an Economic Summit or through another agreed constitutional mechanism.