Celestial Exchange

The Celestial Gold Conversion Exchange, or , was an economic arrangement led by the Serene Duchy of Aeldrum, the New Celestial Confederacy, and the Nippon States beginning in to facilitate commerce and currency conversion between Imperial Space and Celestial Space.
== Background ==
The Gold Conversion Exchange was established during the summit at Sevalne in which produced the Treaty of Sevalne and resulted in all the independent powers of Imperial Space "floating" their currencies (that is, the currencies of Imperial powers would no longer be convertible into gold or any other hard commodity). As Celestial Space (along with the Kingdom of Veran in Naga Space) still operated on the gold standard, the Exchange was necessary to facilitate trade at the boundaries of the two cosmic regions.
== Operation ==
The Celestial Exchange served as both a currency exchange and a fractional reserve banking system, with gold from Aeldman issuance of DIP Bonds used to fund gold-ducat exchange at the border and an estimated 80% of exchange funds issued into Celestial Space as investments to encourage economic growth. The Exchange maintained a gold reserve of at least one thousand economic units worth of gold or at least 10 percent of the volume of Celestial Trade conducted by Aeldrum and the Orcish Directorate, and operated branches in the Pin Jump and in the Nippon States' Foreign Quarter. All operations of the Exchange were subject to the consensus of Aeldrum, the Nippon States, and the NCC, with the Orcish Directorate and the Republic of Sermaye granted advisory positions.
The Celestial Exchange also resulted in the creation of the Celestial Gold-Certificate, the gold-backed currency used by the NCC and the Nippon States.
Category:Trade Agreements