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Welcome to the Galactic News Service
Economic Downturn: Nova Crystal Update
Posted by: Ellias Aubec, The Krath Dynasty
Date: Year 14 Day 71 From the Starport Kathol Main Starport in Bank District on Kathol (63, -467).

In the last few days, we have seen what will amount to a massive decrease in income for governments around the galaxy as sentients join in a galactic-wide movement to stop paying excessive taxes and reserve enough credits for themselves so they can buy basic necessities such as food, water, electricity and other utilities. Governments around the galaxy have no reply for this mass outpouring and so they and other corporations and groups will have to settle for a greatly reduced income.

As can be expected, this has had a dramatic effect on the value of the Nova Crystal. With such a loss of income, the value has had to be dropped down to 50,000 credits per Nova Crystal, as many have already noticed. Government officials had wanted to retain the high value over the coming months, but a panel of economic experts came to the conclusion that such a route would be self-destructive at best for The Krath Dynasty. The new value was chosen as it was the base value of the Nova Crystal, decided on its inception almost 4 years ago, and the value cannot drop below this. As the income flows are stabilsed over the coming months, expect to see the value start to fluctuate with the economy as it did before.


Although this will likely be unwelcome news from those that have Nova Crystals currently, new investors will find themselves at the ground floor once again, with nothing to loose as the Nova Crystal will inevitably continue its upwards growth as it has enjoyed in all the years of use. When questioned, High Chancellor Ellias Aubec, the erstwhile Nova Crystal Master Jeweler that monitors and controls the currencies valuation, had this to say: "Although those that have participated in the use of the Nova Crystal currency over the last few years have been strong supporters, there is little that can be done to lessen the impact of this vast change without causing further negative effects on the continued growth of the currency in the future. We understand your pain as all Krath citizens, myself included, will have found their Nova Crystal collections vastly reduced in value, however the only way from here is upwards and I asure you that the Nova Crystal will continue to grow in strength."

The Krath Dynasty expects there to be a significant level of interest in the Nova Crystal in the next few months due to this change, with over 5,000 Nova Crystals already being exchanged and sent to customers in the last day, in a frenzy of investment. Inquiries from the Confederacy of Independent Systems indicate their willingness to allow sentients to purchase services from their conglomerate with Nova Crystals, as well as a sizeable order of the currency for their own use. There has been discussion in the last few months for the use of interested governments and corporations to use Nova Crystals as their primary form of currency, with the details as to the final workings of such a system being discussed.


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