Activity Report
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by Ceska Narodni Banka
As required in the constitution, here is an activity report of large/exceptional transactions. These are associated with the winding down of operation in our Q4 DS company.
I have transferred un-used funds of:
11491 CZK
10.74 GOLD
2.2 IDR
from Czech Investments to Ceska Narodni Banka
Shortly a contract will be signed with The Abrivianius Foundation for the sale of our Q4 DS. The Abrivianius Foundation will pay us 200 gold (direct to CN😎
for the DS and an additional 20 gold (to Czech Investments) to pay for the export license to Germany.
Once this transaction is complete, the Defence for CZ Q4 DS company will be put up for sale. The initial offering price will be 220 gold (the cost price is 20+20+50+100+100 = 290 - but we must reflect the need for a purchaser to make a profit over and above the cost price). Please do spread the word that this company is available for sale.
Franz Kafka
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Franz I noticed that some time ago eCNB made some transactions on the monetary market, have you got some sort of summary of those transactions too? Because I am afraid that those transactions could not have been profitable under any circumstances (athough I may be wrong).
I am sorry I don't have a record of those transactions (the alerts on the CNB auto delete and I didn't save them - sorry!) - but they were made for two reasons:
1. In the first instance to acquire more gold
2. And later to stablise the currency market and reduce the amount of speculation in the market (there was a 30 CZK difference between the two rates!)
In the short-term this was unfavourable to the CNB - but in the long run it stablised the market enough and closed the gap between the gold-CZK and the CZK-gold market rates. Once this was achieved I withdrew the CNB from the market for a while - but have now placed the CNB back in the currency markets.
I would attest that there was no personal gain from the currency market transactions from the CNB.
Thank you for the update Franz!
As for the monetary market, I would like to say that I was personally involved in larger transactions with the CNB on the MM a week or two ago (when there were the 50 Gold offers). I bought larger amounts of Gold from the CNB for 155 CZK/1 Gold, but I then also bought plenty CZK for 0.008 Gold/1 CZK, which means I lost, and the CNB gained, about 12 CZK for each Gold I traded this way.
From what I have seen on the MM, I believe that the use of CNB to stabilize our currency is a good thing. Maybe for the future we could create some kind of record of transactions? Eg. we could create a designated Org, send a specified amount of CZK and Gold to that Org? That way we could at least see at any time if the Org accounts and the Org's offers on the MM are lower, equal or higher than the initial investment. Of course, another solution would be to have bookkeeping for the CNB, eg. on online spreadsheet or on forum. It would very demanding to administrate though if we would want to keep a record of each time a few CZK are being sold on the MM.
eh, I bought CZK at 0.007, not 0.008