Economic Stimulus Package
Currently, the world economy is experiencing a serious downturn. Lots of people have lost their jobs, their homes, and their life savings because this condition.
The Blogshares economy is no different. Every player has noted the extreme loss of value in the shares market, from the highs of last year to today's worthless scrap paper. In just six months, 73% of the market's value has been wiped out.
In order to help the struggling masses yearning to breathe free, the Board of Directors has directed the GIC to implement the following actions.
1) 25% of the total wealth held by the top 10 players will be confiscated. This tax will be used to fund the recently increased B$5,000,000 starting stake for new players, until the crisis has passed.
2) All corporate assets will now be controlled by the Board of Directors to dispense as they see fit. Administrative tools that allow corporate owners to distribute funds and chips will be temporarily suspended until this crisis has passed.
3) Idea transaction fees will be increased from the current levels to 10% of the total value, until the crisis has passed.
4) A new chip transaction fee will be initiated. All private sales of chips will be taxed at a temporary rate of 2%, until the crisis has passed.
To allow for a period of adjustment, these changes will be effective starting at 1500 BST, 09 Feb 2009.
Related forum discussion here.
Update: Don't worry, it's not real.