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OAN NEWS
NEW UNAC INSTITUTIONS ESTABLISHED
Over the past week, the Council of the UNAC approved the establishment of the Auroran Monetary Fund (AMF) and the Auroran Medical Agency (AMA). The approval is the culmination of years-long negotiations. The AMF was first proposed in February 2020, by Arana Marama, Foreign Minister of the Oan Isles whereas the AMA was first proposed in 2018 by the government of Blueacia. The purpose of the AMF is to promote peace and security through encouraging economic growth and financial stability. The AMA aims to ensure universal access to healthcare for all Aurorans.
The Auroran Monetary Fund consists of the Auroran Financial Stability Fund (AFSF) and the Auroran Infrastructure Fund (AIF). The AFSF lends money to nations who are struggling to pay back their debts and/or bridge their balance of payments gap. The AIF lends money to nations struggling to find commercial funding for infrastructure development projects. The AMF is led by the President of the AMF who reports to the Council of the UNAC and AMF General Assembly. The Oan Isles has nominated former Oan Prime Minister Locklyn Le Roy and has nominated Sani Bursil, Valerica and Oscrelia as potential locations for AMF institutions.
The AMA aims to coordinate, promote and support national health schemes and cross-border health policy. The Oans and Blueacians have supported Veronique da Sangello in her bid to head the organization. Potential locations for the AMA include Blueacia and South Staynes. These steps marks a big leap in helping nations, especially the poorest break from disease and economic stagnation.
OAN NEWS
HOW THE COMPUTERS FIGHT WARS
The proliferation and sophistication of computer algorithms breed questions about the use of artificial intelligence and computer-dependent systems in combat. The Department of Defence of the Oan Isles has announced that the military has been pursuing a strategy of using unmanned vehicles and autonomous weapons systems in combat to reduce the reliance on manpower. In the written statement signed by General Oahuoa Uye, the Oan Defence Forces want to use unmanned and autonomous weapons systems as force multipliers. While the Oan Isles is uniquely notorious for fighting larger foes, the military wants to take this to the next level while reducing the inefficiency, arbitrary loss of life and damage to infrastructure that human emotion brings to warfare.
Moreover, Minister Uye argues that pursuing these technologies will bring the country closer in line with the defining military policy of the Oan Isles: âMinimum Death, Minimum Destruction, Maximum Dominationâ. He argues that machines are not motivated by emotions are thus less likely to perpetrate war crimes, secondly, that one soldier or engineer can operate or oversee several weapons systems and increase their force capabilities with fewer soldiers and thus, thirdly, fewer Oan blood will be shed in combat. So far the following weapons systems have been deployed with unmanned, autonomous and machine-assisted combat technology: AI-assisted Leopard MBT which allows one soldier to operate an entire tank, remotely-controlled Unmanned Aerial Combat Vehicles produced with KAE Systems, autonomous anti-missile interception systems, and the AI-assisted Gatling gun. Furthermore, the country has proven electromagnetic pulse (EMP) capabilities and an extensive cyberwarfare program in which Oan techies infiltrate and stop foreign computer-dependent operations that were instrumental in the Auroran-Pacific Warfare.
Nevertheless, this kind of warfare has received critics who believe that a machine is unable to discriminate between genuine combatants from civilians and that it is morally repugnant for machines to decide on the lives of living things. Others argue that this development must be restrained to prevent powerful weapons from falling into terrorist hands and to prevent even more destruction on the global scale. Counterarguments include that the Oan Isles is too small to defend itself and its interests without heavily relying on technology and that sapience has not stopped or mitigated the effects of war.
OAN NEWS
10 March 2021
Official Statement of the Oan Isles on the Terrorist Attacks in Joralesia
https://www.tapatalk.com/groups/the_east_pacific/mbc-t3205-s120.html#p243403
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In the name of His Serene Majesty, the Emperor of Polynesia, the Seed of Ahua, the Most Favoured of the Holy Lord Maui, Oahoanu and on behalf of the noble people of Polynesia, I hereby vehemently condemn the terrorist attacks perpetrated in Joralesia. Four heinous attacks were conducted and another was foiled in the four major cities of Joralesia. We greet these nefarious acts of terror with contempt. One of these has left Vothetrian Prime Minister, Clauzia Sarohart missing. It is unclear what her state is, but we pray with the people of Vothetria for her safe return and we wish them comfort and peace in this trying situation. We thank His Majestyâs Foreign Office of Morstaybishlia and the Vothetrian Foreign Department for alerting and informing the UNAC of the situation. The Oan government calls upon the UNAC to discuss and respond to this grave injustice with unyielding resolve and righteous justice. Furthermore, we pledge to provide the Morstaybishlian Empire and the Republic of Vothetria with any assistance that we can. An attack on one is an attack on all.
In solidarity,
The Est. Maui Uye-Ahua
Prime Minister of the Oan Isles
OAN NEWS
10 March 2021
ANNOUNCEMENTS ON NEW LEGANES AND JORALESIA IN LIGHT OF TERROR ATTACKS
We reiterate that the Oan government condemns the acts of terror in New Leganes and Joralesia and that our people offer their condolences and stand in solidarity with the families affected by the acts of terror perpetrated there.
In light of the terrorist attacks in Joralesia and New Leganes, the Oan Foreign Department makes the following announcements:
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Joralesia and New Leganes shall be placed on the Blacklist of dangerous travel zones for 10 days. This means that travel to these countries is highly discouraged. Civilians who would like to cancel their flights to these countries due to safety concerns within the 10-day period, may request a full refund or reschedule without costs from their airline.
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All citizens and permanent residents of the Oan Isles in Joralesia and New Leganes may apply for immediate evacuation. You can apply telephonically, online, by email or in-person at the relevant airport and arrangements will be made. Nevertheless, we do not take responsibility for the property or items left behind in that country.
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All airlines suffering disruption due to the travel ban may apply for compensation. Please include proof of cancellation accordingly.
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The Oan consulate in New Montinay and the Oan Embassy in Privetia Taurillien shall be placed under additional security and all in-person services at the consulate and embassy will be suspended. We apologise for the inconvenience.
Furthermore, the Oan Intelligence Bureau hereby makes the following announcement as empowered by the Esteemed Minister of Foreign Affairs:
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The OIB will consult with the Morstaybishlian and Vothetrian intelligence communities about calling for the Auroran Security Agency to coordinate a UNAC-wide investigation.
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The OIB will share all information concerning the attack on Clauzia Sarohart and the terrorist attacks in general with the Vothetrian and Morstaybishlian authorities respectively, where relevant. Any information relevant to the terrorist attack in New Leganes will be shared with Cukish authorities.
Again, we condemn this terrorism and offer our condolences and support. More information is available here: https://foreignaffairs.gov.oan
In solidarity,
The Est. Arama Marama,
Foreign Minister of the Oan Isles
OAN NEWS
OAN COMPANIES REELING FROM NEW LEGANES EXPLOSION
The Oan Investment Board (under the Department of Commerce and Workers) estimated that the damage from the explosion of the port of Privetia Taurillien in New Leganes may cost Oan businesses approximately 4.75 billion KRB. According to the Investment Board, facilities such as fisheries, warehouses, oil refineries, desalination plants, and offices owned by Oan businesses or on which Oan businesses have long-term leases have been mostly damaged beyond repair. Thus, the insurance cost of replacing the decimated infrastructure is estimated at nigh 5 billion KRB. More information will become apparent as companies lodge their claims and local authorities assess the damage.
The explosion is a major blow to the fishing, tourism, logistics, entertainment and retail industries. Privetia Taurillien is a major port in the Concordian Ocean. It links ship lanes between Concord, Arcturia, Novaris and Gondwana. Moreover, natural beauty and stunning cultural heritage have attracted tourists across the world. Thus, the loss of the Privetia Taurillien port is a major blow to economies in that area. This impact is acutely felt in the Oan Isles as insurance companies will be paying billions in payout claims and companies will also need bailouts to help them navigate the loss of income over the period when reconstruction takes place. New Leganesian bonds and shares are hitting rock-bottom prices on the Tokapa Stock Exchange as investors panic sell their assets to recoup losses from the physical damage and long-term economic damage. It is unclear how other financial markets that are major holders of New Leganesian debts will react, but predictions suggest that the Cukish QĂle may experience a substantial drop in value.
Investors are awaiting an announcement from the New Leganesian government on whether any assistance will be provided to businesses. We are also waiting to see whether the New Leganesian central bank will buy back bonds to protect the value of its currency or raise interest rates to make bonds more attractive to foreign investors. It is unclear the quantitative effects on the New Leganesian economy itself, but theories suggest that this could result in a substantial dip in GDP growth over the next quarter. We are awaiting how the government will react. It is likely that the current government will face an incredibly tough challenge keeping public confidence.
The Oan Aid Agency aims to offer humanitarian support to help affected communities living around the port. Lady Aroha has called on Oans to donate in-kind and funds. According to the organisation, it is on its way to reaching its target of 10 million KRB for emergency relief.
OAN NEWS
EARLY GENERAL ELECTION CALLED IN MORSTAYBISHLIA
Following the Barvata administrationâs failure to get the Anti-Terrorism Bill (which aimed to tackle the terrorism issue in Joralesia) passed, the House of Representatives of the Morstaybishlian Parliament passed the Early General Election Act, sparking an early election. With the Prime Minister Franklin Barvata losing a working majority through the loss of support from parliamentarians in his own party, his government will remain as a caretaker government until elections are held on 2 April 2021. The opening of the Kalmington Parliament is scheduled for 7 April 2021, on which day the King will deliver the Kingâs Speech, outlining the plans of the government for the year. The questions remains whether that speech will be delivered on behalf of the Barvata administration or not.
The surprise rebellion of Chancellor of the Exchequer, Samminel Doros, displays the frailty of Barvataâs control of the Labour Partyâs top brass and forebodes a leadership challenge. Given that Great Morstaybishlia is a highly patriarchal society, the ascension of a woman, especially one of Dorosâs seniority and proficiency, would herald a marked revival of Morstaybishlian politics. Leader of the Opposition, Benjamin Wardola is also in the ring as the head of the Conservative Party. His stance on anti-Ethalrianism, while laudable, may fall on deaf ears as Morstaybishlians are sympathetic to the plight of Vothetria and the North Ethalrian Confederacy more broadly in losing (hopefully temporarily) their beloved Prime Minister, Clauzia Sarohart. According to the Office of the Prime Minister of the Oan Isles, the government is watching the developments in Morstaybishlia closely and will remain in touch with the Morstaybishlian government on any relevant developments, but it would not make any further comments on the issue.
POLICE REPRESSION IN JORALESIA SPARKS DECOLONIZATION MOVEMENT
MWPT MAY TOO SOON FOLLOW
Bryhan Mell, a prominent leader of the Joralesian independence movement gave an impassioned speech on Ewising Radio calling for an independence referendum in Joralesia. This comes after the declaration of a black alert over the country, which has given police and military officials powers to circumvent ordinary judicial procedures and obstruct the usual exercise of political rights and personal freedoms to maintain order. Riots began after the restrictions on free movement, speech and gathering were declared. Reports of arbitrary arrests of civilians, widespread damage to private and public property and the deaths and injuries of civilians and state personnel have emerged. Due to the difficulty of getting information from Joralesia, more information is still forthcoming and the situation will become clearer over time.
Nevertheless, the calls for Joralesian independence have invigorated the decolonization movement around the world. Part of this has rejuvenated the debate for a referendum to be held in the Morstaybishlian West Pacific Territories to decide whether they should become independent, remain within the Morstaybishlian Empire or rejoin the Oan Isles after over a century of political separation. The Oan Isles and MWPT remain closely linked by economic, social and cultural factors. For instance, some tribes in MWPT are allowed to send their Chiefs to represent them in the Oan Council of Chiefs. Moreover, politics in Sani Bursil have delayed the approval of the Four-Year Infrastructure Development Initiative (proposed and funded by the Oan Isles), raising questions as to whether the economic fortunes of MWPT are being negatively affected by the whims of mainland brutish politics.
OAN NEWS
EXPLORING UNIVERSITIES OF THE WORLD
Follow this series for a look into some of the universities of the world! If you would like your institution to be featured, let us know!
Going to university can be both daunting and exhilarating. We want to take a look at the institutions of the world, from the most famous, to the humble, to offer students a look at what the world of high education has to offer.
Emperor Rangitake Library, the centre piece of the University of Tokapaâs main campus
https://tep.wiki/wiki/Shiro_Academy consists of two campuses: one of them is in 1 Infinite Loop and the other in the Free Pacific States. The campus in the town of Tilden in the https://tep.wiki/wiki/Free_Pacific_States is acclaimed for the beautiful vistas of the sea offered by its strategic location on the coastline. Access to white sandy beaches, beautiful rainforests and landscapes, convenient amenities attracts the wealthy people of the world. It has an incredibly diverse faculty comprised of the most renowned lecturers and professors from all over the world. Nevertheless, the astronomical living costs in the surrounding area brought on by the influx of affluent students and teachers have raised criticism from surrounding communities, and Shiro has gained a reputation for entrenching and cultivating the worldâs infamous elites.
The https://tep.wiki/wiki/University_of_Tokapa in https://tep.wiki/wiki/The_Oan_Isles is the most prestigious universities in the country and is well-known for its scientific and engineering disciplines and advanced qualifications. The university offers student and staff exchange programs due to partnerships with universities around the world such as Shiro Academy. These partnerships extend to research for instance the Global Seed Repository at the Sempiterna International Icelab administered jointly with the Royal Bursil University. Its alumni and staff have risen to power positions such as the past three heads of government of the Oan Isles and the CEO and founder of Cafe Net, one of the leading information technology companies in the world. It remains controversial for acting as a locus of the Pan-Polynesian movement which seeks to reunite Morstaybishlian West Pacific Territories with the Oan Isles.
Eldura University in https://tep.wiki/wiki/Vekaiyu, Vekaiyu is one of the most acclaimed institutions of higher learning in Yasteria Major and one of the oldest in the world as it was founded in 645 CE. It has been a centre of intellectual discourse, scientific inquiry and innovative creations. Vekaiyuâs Premier, Ikrisia Levinile, was one of its students. It is notorious for being incredibly challenging to get into, with foreign students alone sending thousands of applications annually. Nevertheless, as Vekaiyu opens up to the world and faces competition from other nations, its universities, including Eldura University need to open up to ideas and foreign influences.
OAN NEWS
CAFE NET CEO LAUNCHES LUMEN BLOCKCHAIN AND LUX CRYPTOCURRENCY
CEO of the Café Net internet service provider, Etuariti Takatunuye under the independent non-profit Net Foundation launched the Lumen blockchain today which runs on the Lux cryptocurrency. As part of the Lumen launch, the initial coin offering (ICO) for Lux was held, with 100 million KRB being raised in the first 12 hours. This is the first ICO of 2021 and is arguably the largest. Lumen is highly attractive as its primary focus is on blockchain technology being used for use cases beyond a store of value.
Blockchain is a decentralized distributed ledger. Lumen, in particular, is publicly accessible. It runs on a decentralized peer-to-peer network that consists of computers called nodes. Blocks (basically a transaction between nodes on the network) is time-stamped and encrypted. The block is added to the chain and contains information about itself such as transaction data as well as the cryptographic hash of the previous block. This is a powerful tool as it is impossible to alter a block without altering all the subsequent blocks. Because there is no centralized authority, it is impossible for anyone person to control all the computer processing power required to undo the transactions. Furthermore, as the chain is visible to all nodes on the work, it allows all users to verify the legitimacy of the block.
Lumen is unique in that this verification process happens via sharding, whereby the longest chain is accepted by consensus of all the nodes as the valid chain. This disincentivises nodes from spending processing power on a chain that was rejected by the network. Lumen has an advantage in that it uses a proof-of-stake method to verify blocks and add new blocks to the chain. Nodes on the network are incentivised to provide this service through the Lux cryptocurrency. The Lux currency is the fuel or gas that propels the system forward and users can purchase an amount of Lux using ordinary currency. Because the forces that govern the value of Lux are driven by demand and supply, the price of Lux can be highly volatile.
Lumen blocks store states and other information that equip the blockchain with Turing complete programmatic functionality. it facilitates smart contracts which are basically mini-programs that do not require user identification or peer-to-peer relationship, but simply that a series of tasks are completed. This allows users to build decentralized applications that use the blockchain as their under-girding. The power of this is enormous and enables use cases such as gaming, academic certification and so on. While the development of this technology is ongoing and the community behind this is developing, the potential applications are enormous and the diversification of blockchain away from cryptocurrency yields promise for many other fields.
Some controversy has been raised that Café Net and its Morstaybishlian parent company Damehowe will use their incredible power to control the chain, giving the illusion of free public and decentralized ledger. Most commentators, however, believe that the criticisms are overblown and vastly outweighed by the benefits that can potentially arise. Etuariti Takatunuye and the Net Foundation have denied the allegations and provided full access to the development process and the tools and technologies on which blockchain runs to enhance transparency and trust.
OAN NEWS
OAN PRIME MINISTER CONGRATULATES FRANKLIN BARVATA
By Maui Uye-Ahua
On behalf of the government of the Oan Isles, I would like to congratulate the Prof Est Franklin Barvata on the Electoral victory of the Labour Party by which HM King Lambertus VII invited him to form the Second Barvata Ministry. We look forward to working with his government on crucial policies of mutual interest.
We have made steady progress on the multi-billion kirib Four Year Infrastructure Development Initiative with the Morstaybishlian government contributing additional resources to extend some of the projects such as an undersea cable to the Auroran mainland. Furthermore, various Morstaybishlian firms have expressed interest in working as equity partners for the projects which hope to bring reliable water, energy, transport and communication services to the Oan ISLES and Morstaybishlian West Pacific Territories.
In our discussions with the Barvata ministry, we would like bring up the matter of resource, fishing and navigation rights in the southernmost waters of the MWPT. We would like to approach the Morstaybishlian government with a proposal for a joint EEZ that would bring mutual prosperity and security to both our nations. Unhindered access to the Morstaybishlian Sea is one of our topmost priorities as our economy relies on trade and navigation through those waters.
In conclusion, we wish the Barvata Ministry well and send our respect and regards to the people of Great Morstaybishlia.
OAN NEWS
METATRON LAUNCHES ARANA VIRTUAL ASSISTANT
[justify]The Metratron Corporation released Arana, an artificial intelligence voice activated assistant that runs on the Sonic speakers. Arana can be connected to the userâs personal and business accounts on any platform such as Cluster or Cafe Net. Arana will help the user navigate their professional and personal lives by reading and responding to emails, setting reminders and tasks, drafting simple documents and much more. Furthermore, the user can ask Arana any question and Arana will look up the answer on any of the major search engines such as Goggle or Cafe Net. Arana can also play music or read literature to the user. [/justify]
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[justify]Arana is able to detect the userâs voice, enabling voice authentication technology to prevent other users from accessing Aranaâs account. Arana speaks most major world languages such as Norgsveldtian, Staynish, Salovian, Ethalrian, Tretridian, Packilvanian, Unonian, Axdan and Asendavian. Arana has a female voice and the company has indicated that they are not going to change her to a male voice. However, if user pressure builds, they are willing to create a male version of Arana under a new name. [/justify]
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[justify]Currently, the company issued the Arana I and Arana II which are differentiated by the fact that Arana II has different coloured lighting depending on the state of the speaker. Arana I hovers around 120 Kiribs, 125 Standard Hawking Dollars, and 149 Jade Nudo. As the product becomes available across the world, specific prices for the Packilvanian dinar, Kuthern dollar, South Yasterian recan, Vekaiyun veskono and United Krone will be announced. So far, the product is available directly on the Metatron website or in Metatron stores. It can also be found on online shopping platform Floating Market and Imperial Nyvera Trading Company stores. Announcements will be made if the product becomes available on other platforms and in other retailers. Please note that most shipping will be handled by Posol Industries, so some delays may be experienced for customers purchasing from Yasteria and Novaris, for which Metatron apologizes in advance. [/justify]
OAN NEWS
OAN ISLES STRIVES TO ATTRACT FOREIGN TECH BUSINESSES
The High Tech and Innovation Promotion Law was passed by the National Assembly and received royal assent a few hours after. The law will allow the Oan government to offer tax breaks, labour and environmental regulatory exemptions and other benefits to foreign businesses in the high tech sector. This includes sectors such as information and communication technology, biotechnology, and so on.
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The government will be able to dedicate revenue to invest in infrastructure in special parts of the country to encourage the coalescing of tech companies in the country. It also gives the government to power to increase resources dedicated to and simplify the patent processing and protection systems, and other bureaucratic structures. The Special High Tech Panel will be responsible for advising, researching and monitoring high-tech in the country. The governments aims to lobby companies such as Cluster, Damehowe, Audelli, and so on, establish regional headquarters, laboratories and hubs that will make the Oan Isles the tech capital of the world. This process will form part of the Fou Year Infrastructure Development Initiative that will link the Oan Isles to MWPT via pipelines, roads, hydropower stations etc.
OAN NEWS
METATRON ANNOUNCES NEW PRODUCTS!
Metatron announced three new products that will hit stores in the month of may: the Stargazer and Airtouch.
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The Stargazer is spectacles/sun-glasses with augmented reality capability. The Stargazer connects to a device such as a laptop or cellphone, projecting virtual constructs broadcast by that device onto the real world.
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The Airtouch is an infrared keyboard. This device displays a size-adjustable keyboard on any surface regardless of orientation that is relatively smooth. The keyboard is available in different languages, font types and scripts. It can connect to any device.
The products mark the second major shift for the company after releasing the Aroha virtual assistant speaker. Metatron is gradually moving away from saturated consumer electronics such as smartphones, and these latest releases signify its evolution to high-end electronic products.
Both product will be available at all stores and online shopping platforms.
OAN NEWS
INCLUSION FOR AURORAN MIGRANTS
Following a vote by the National Assembly, the Emperor has signed the Recognised National Language Law. This legislation will make Salovian, Ethalrian and Staynish nationally recognised languages of the Oan Isles. This will give speakers of these languages access to additional government services and support. The move was supported by Pan-Auroran activists and legislators who believed that the silent discrimination and exclusion of immigrants from mainland Aurora should end.
The Oan Isles is generally known as a friendly welcoming place for tourists and expatriates, but refugees and low-income economic migrants from former Salovian and Ethalrian countries in Aurora struggle to integrate into society due to animosity and misunderstanding by the broader Oan public against them. Moreover, some proponents argue that making the Oan Isles more welcoming for mainland Aurorans will attract wealthy and skilled migrants to live in our country as well. Furthermore, proponents are hoping that the move with thaw the difficult and distrustful relations between the Oan Isles and the Ethalrian countries to open new opportunities for dialogue and cooperation.
TOKAPA IN TROUBLE FOR ANIMAL RIGHTS VIOLATION
The local government of the capital city Tokapa has been discovered to be culling sea birds such as seagulls around Tokapa.
Activists from the Oan Society for the Prevention of Cruelty to Animals found that sea gull populations were dropping drastically over the past 10 years and that sea gulls were mysteriously disappearing from areas of major concentrations of people (where these birds would usually be).
The Oan SPCA released a damning report stating that the Tokapa local government had killed thousands of adult seagulls and smashes their eggs. Seagull bodies had been incinerated at landfill sites and public furnaces.
The Tokapa government defended its decision stating that the seagull population was out of control, that seagulls were attacking people and pets, ripping up trash, and their guano was damaging private property. It also stated that that it tried to control the numbers in the most humane way possible (without stating what that way is).
OAN NEWS
WHY DID THE OAN ISLES INVEST 20 BILLION KRB IN MWPT?
HOW DINOSAUR JUICE IS GETTING US IN TROUBLE
By Imani Lucim
The views expressed in this article are those of the author and not of Oan News nor of the government of the Oan Isles
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Firstly, because the discovery of oil suddenly meant that the Oan Isles had way more money that before. But the second and most important reason is that the Oan Isles has a crisis on the horizon.
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It all started when the Oan Isles annexed the Kohatu Isles. Oil was discovered off the coast. The Oan Isles had the technical expertise, and money to invest in exploration and extraction. Moreover, by making Royal Caven Petroleum from Peregrinia its main partner, it leveraged the existing economies of scale that Royal Caven had. These things allowed the Oan Isles to benefit a lot more quickly from the oil trade than other countries would have.
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Secondly, the total cost of running the Kohatu Isles is much lower for the Oan Isles than to the income it makes from oil. Thus, the country has been awash with money from selling oil to foreigners. The new jobs which were created quickly made the average Oan person wealthier as businesses reduced oil-related costs like polymer inputs, petrochemicals and fuel for industrial processes. And more profits resulted in higher wages for the average worker.
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So the Oan economy got a new injection of money in a very short period of time. Which is usually a good thing. But not in this case. As Oans had more money, they could spend more on goods and services and on investments with most people putting their money in houses and other property. The Oan government is scared that 2 major problems will emerge: hyperinflation and a housing crisis.
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When the demand for housing increases, the price for houses increases which increases peopleâs net worth. Which is great. However, this is only because of speculative investment rather increase in economic production. The Oan government calculated that at some point in the future, economic growth will slow down but the rate of increase in property prices will outpace income growth. Moreover, industries which benefited from oil may decline so some people may lose their jobs. So, the government is scared that there will be a lot of people in the future who wonât be able to afford all the houses bought up by people today.
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Why canât they just build more? If you know anything about the Oan Isles is that there isnât a lot of space. The government calculates that the country can only support a certain amount of people before mass deforestation takes place and only a few more before we run out of liveable space altogether.
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Also, The Oan government doesnât really want housing prices to go down too much. High housing prices mean that the average home owner gets wealthier doing nothing. This is important in making Oans among the wealthiest citizens on an average net asset value basis. This further disincentivises the government to release more land for construction.
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The issue of hyperinflation is this: if people are spending more on daily commodities, prices will go up. And itâs much easier for prices to go up than come down. When the housing crisis happens, the inflation crisis will happen too. This will make life in the Oan Isles much more expensive to live in than it is now. Furthermore, by that time, Oans would have gotten used to a really good standard of living from foreign imports, so some industries will struggle against these imports and shut down long before the Great Housing and Inflation Crisis hits.
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Thus, the solution is take all that excess money and put it somewhere safe in a way that will make money for the Oan Isles in the long term. Thus, the Oan Isles is going on an investing spree. To both âsaveâ the money, while âspendingâ it somewhere else.
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Why choose MWPT? MWPT is really close and similar to the Oan Isles (and they low-key want it back). Moreover, MWPT enables the government to create jobs for Oans in another country, which will incentivise them to move and spend some of their money buying houses there. Hence, the Oan government is investing in infrastructure. This includes housing developments. Wonât it lose all those productive people to MWPT and even Great Morstaybishlia? No. (a) Because MWPT is right next door so, people will often visit and send money to relatives and (b) the Oan Isles just pays better on average.
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On one hand the government keeps its citizens comfortable and wealthy and on the other it sheds the excess population and generates investment income from all the rent and economic activity that infrastructure usually brings. And it basically stores that money in assets like infrastructure which arenât easily convertible into cash so there wonât be a whole of cash in that economy so there wonât be a quick increase inflation back home.
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They also didnât want people getting used to oil and all the (virtually free) stuff it got them, so this way they avoid a social crisis as well once the dinosaur juice runs dry.
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Although 20 billion kiribs sounds like a lot of money, which it is, I wonder whether itâs all that much. Out of a GDP of approximately 788 billion KRB, 5 billion a year over 4 years, will be spent by the Oan Isles, with the government only paying roughly 2 billion KRB. I wonder: is it enough? Luckily for the Oan Isles we will be tapping the dinosaur juice faucet for a very long time
OAN NEWS
HOW DID OANS BECOME SOME OF THE WEALTHIEST CITIZENS IN THE WORLD
Imani Lucim
The views expressed in this article are those of the author and not of Oan News nor the government of the Oan Isles
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By stealing oil from the Kohatu Isles. Through 2 things: retirement annuities and property.
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The Oan Isles does not have the highest GDP per capita in the world. And itâs only the 4th highest in the UNAC. But the wealth we are referring to is not GDP per capita. GDP per capita is measure of the total goods and services produced per person, which indirectly measures the resources enjoyed and productivity produced by people of a nation. Wealth on the other hand refers to the value of assets that people own.
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In the Oan Isles, the government passed the Compulsory Retirement Savings Law which made it compulsory for every citizen in the country to put away a little bit of their money every month into a government-approved retirement fund. These funds invested the money into the economy. Coupled with the tax cuts that retirement investment funds received, these funds have accumulated incredible wealth. However, Oans can only access that money when they retire around the age of 65. So, per capita, Oans have vast amounts of wealth (itâs just sitting in retirement funds). Other countries have tried similar schemes to varying levels of success, but the Oan Isles is unique in that the contribution is lifelong, starts as soon as someone is working, continues throughout their life even if they change or lose jobs, and cannot be withdrawn for any reason at any point in their life.
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The Oan Isles is also a small island nation with a lot of mountains and forests, so there isnât a lot of habitable space. When you remove industrial and agricultural land, a tiny fraction of our already small territory is dedicated to houses for people to live in. When the supply of houses is relatively constrained and the demand is high prices are naturally going to go up. Thus, a basic commodity like shelter suddenly becomes a store of value, bringing wealth to the owner.
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The government recognized this and decided to help as many of its people become home owners. They could increased the supply through reclamation which would make housing more easily available to lower and middle income people. They did do this. But it wasnât the only thing. Increasing supply too much can bring the price too low. And the great thing about property is that even in an economic slowdown, the decline in the value of housing is much lower than the decline in the buying power of cash, so itâs a much safer way to spend money than on commodities or speculative investments (which have their place).
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Instead, the Oan government passed the Promotion of Homeownership Law. This law allowed banks to issue loans for longer periods, so that people spent less of their monthly salary paying their mortgage. This made housing within reach of most people. Secondly, the Oan government gave people who couldnât afford the down payment an interest free loan to cover that amount. The loan is payed back very slowly and in tiny increments. Moreover, the oil boom (discussed in the previous article) made Oans have more money to buy houses.
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A happy side effect of adopting the Kirib as our currency is that the value of assets in the Oan Isles increased by a massive amount because the previous Oan currency - the Oan dollar - was greatly undervalued.
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As a result prices for housing remained high while being in reach of most Adults. Hence, the Oan Isles has a home ownership rate of 98%. The chances of a freshly graduated Oan getting a house within 5 years of working is insanely high because of this. So thatâs why Oans have a mean wealth of 500,000 KRB and a median wealth of 200,000 KRB. Thus, they are among the wealthiest citizens in the world.
OAN NEWS
CURRENCY WARS
Governor of the Bank of the Oan Isles, Pauro Toangakau, has announced that he will ask the Auroran Central Bank to issue a formal complaint against Packilvania for artificially under valuing its currency, the Packilvanian dinar. He has also proposed that the ACB should explore using monetary policy to strong-arm the PCB into revaluing its currency at market-appropriate rates.
The Packilvanian Central Bank has often adopted an unfair currency exchange regime that has undermined industries in smaller countries through an increase in the influx of cheap low-quality low-value added imports from Packilvania.
The PCB has undermined competitive trade by unfairly leveraging the enormous size of its economy and focus on low-cost goods to undervalue the Packilvanian dinar. This is particularly harmful as many nations maintain trade deficits with Packilvania which is notorious for imposing unfair import tariffs to stifle the import of goods. Furthermore, Packilvania continues to place unfair restrictions on foreign companies wishing to set up shop on Packilvanian soil.
This unfair and uncompetitive behavior results in a dead-weight loss for society that cannot be tolerated.
OAN NEWS
COMPLAINT REQUEST AGAINST PACKILVANIA SUBMITTED TO THE ACB
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Governor of the Bank of the Oan Isles, Pauro Toangakau has announced that the Bank submitted a request to the Auroran Central Bank in Tarov, Tivot to submit a formal complaint of currency manipulation to the Packilvanian Centrall Bank in Bingol, Packilvania.Â
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How do you know if a countryâs currency is undervalued? Well a currency is not just a medium of exchange, but it is a store of value. This means that even if two currencies can be exchanged for a certain nominal amount, the real price lies in the value of goods and services that equivalent units of the two currencies can afford. The former is the nominal exchange rate while the latter is the real exchange rate.
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When a country exports goods, other countries have to pay it in its own currency. If you want to buy something from Packilvania, you must sell your kiribs to the Packilvanian Currency Exchange Bureau for a certain auction price. Because Packilvanian dinars are worth approximately 100 dinars per kirib, this makes you feel like your kirib is worth a lot more than the dinar. But, because Packilvania is an export-driven nation, it makes a large profit from selling goods and services to foreign nations. Thus, other nations usually make a loss. This means they have to borrow money to pay back Packilvania. Moreover, borrowing dinars from the PCB is much more expensive than buying them. Therefore, because lots of people are demanding dinars to pay debts to and buy goods from Packilvania, the price of a dinar should go up.Â
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However, whenever the price goes up, the PCEB makes more dinars available so that it looks like the supply of dinars has increased to meet the increased demand, keeping the price at or below the usual amount. This makes you want to buy more goods and services from Packilvania because the price seems so low. But the net cost to your economy through the loss of industries that struggled to compete with the superficially low prices of Packilvanian goods as well a the debt used to afford these imports means that your country loses from this whole situation.
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This is the reason that the Oan central bank is unhappy about what Packilvania is doing. But in truth, is it really unfair? Packilvania has the right to control its currency just like any other currency and if they happen to benefit form their economyâs huge size, thatâs capitalism for you. The issue is that when the PCB borrows kiribs, they basically make a profit because the Kiribzone pays them a higher rate of interest than it charges. This is the case with all developed countries because developed countries canât afford high interest rates. So, the Kiribzone feels like the PCB is taking advantage of this whole situation. Itâs like a cycle that never ends and is bad for the kiribzone. Some people think this whole debacle is exaggerated, because at the end of the day, people in the kiribzone live much better lives than people in Packilvania so it doesnât matter how much the kirib or dinar are really worth.
URTHQUAKE IN AXDEL
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An urthquake hit the Quartz Fern Coast city of Calcite in the Republic of Axdel. The urthquake measure 6.27 on the International Seismic Scale.Â
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No major damage to property or injury and deaths were report due to the robust infrastructure.Â
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Axdelian authorities originally issued a tsunami warning, but later withdrew it.Â
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The Oan Departments of the Environment and of the Interior have offered support as the Oan Isles often has urthquakes and ahs become adept at dealing with them.
THE OAN ISLES CONDEMNS THE ATTACK ON ASILICA AND CALLS FOR UNAC INTERVENTION
The Oan Isles hereby formally condemns the terrorist attack which has resulted in the destruction of the government ofAsilica. This incredible attack is reprehensible and unconscionable The use of violence to achieve political ends is unforgivable. The Oan Isles will send humanitarian aid through Oan Aid to help people there. Furthermore, we will ask the UNAC to deploy the Strategic Defence Force to root out and arrest the attackers, restore order and re-establish the normal functioning of government and civil society.
We send our condolences to the families of those who have lost loved ones in this attack. We stand with the people of Asilica. May their enemies fear, for the might of the UNAC will defend the people of Asilica.
In solidarity,Â
Maui Uye-Ahua,
Prime Minister of the Oan Isles
OAN NEWS
WHAT ARE THE IMPLICATIONS OF SOUTH STAYNISH INDEPENDENCE FOR THE OAN ISLES
The United Kingdom of Great Morstaybishlia and Justelvard is the foremost political, economic and strategic ally of the Oan Isles. One would rationally assume that the weakening of that ally would weaken the Oan Isles. Ironically, not necessarily.
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South Staynes is a highly developed, economically diverse and socially progressive nation that has potential to be influential on the world stage. It is already the site of major bilateral investment. For instance, the Auroran hub of Metatronâs manufacturing is located in South Staynes. Furthermore, there is considerable trade in finished goods, produce and natural resources between our two nations. The Oan Isles and South Staynes share ties through a common religion and large presence of expatriate communities.
Furthermore, it is highly likely that many of the treaties between the Oan Isles and South Staynes through the United Kingdom would be duplicated. Moreover, it is likely that South Staynes would continue to participate in bodies such as the UNAC, Auroran Monetary Fund and Kiribzone. Thus, there is bound to be continuity in economics and political life despite the disturbance of its independence.
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Could South Staynes threaten Pan-Auroran political ideology and the integration of the continent? Yes and no. Yes in that it would exacerbate existing challenges by allowing isolationists and protectionist aligned with the independence movement Ă greater voice in public life. However, the threats to Pan Auroran thought already exist such as Pan Ethalrian nationalism.