Monetary authority

This article refers to Monetary authority as it relates to Nationstates. For more general information, please see the Wikipedia article on the subject.

A monetary authority is any body which controls the money supply of a given currency. In Nationstates, most monetary authorities are assumed to be the central banks of individual nations. In most nations, the central bank is under the authority of the national government, but there are some exceptions such as Swilatia. However, some variations exist. A few nations, especially technologically advanced nations and predominantly non-human nations, make no use of hard currency with all economic activity being processed electronically. Other pre-industrial societies prefer a barter system. A few anarcholibertarian states allow the market to not only set the price but determine the nature of currency, defining currency as anything people choose to use as a medium of exchange instead of an object of direct barter.