On Thursday and Friday of this week, an international conference on global finance will take place in the Thrown Room of Palazzo Twaklinilkawt in Twaklinton. Delegates are already gathering in the royal palace gardens and in the luxurious holiday accommodation in the palace grounds.
Several of the more intelligent delegates will be continuing onwards to another conference soon after the coming one finishes. At the conference in the palace this week, the delegates, all of whom happen to be citizens of Australia, will be hoping to learn about the stability of the Nilkawtian currency and its importance in the global economy.
It is fortunate indeed that the current, official global financial system excludes Nilkawt entirely. This means that the Nilkawtians have been able to maintain the impeccable integrity of their own financial services, at least when compared with all the other national economies and international dealings.
The current international monetary system, which is not a system at all, has been undermined by abusive lending practices. The international insurance system has been undermined by the unfair clauses and other abuses, including practically useless policies.
Over recent months, the Nilkawtians have managed to oust the crony capitalists who had long had a strong, self-serving grip, including a strong golf grip, on Nilkawtian finances. There has been great rejoicing in the streets of Twaklinton.
The crony capitalists wanted to bring financial integration to the Nilkawtians, in the name of economic liberalisation. Fortunately, the people of Nilkawt are well aware that, in reality, that means selling everything to the highest bidder, regardless of the consequences. They wanted none of that.
Most economic activities in Nilkawt are, most fortunately, neither run by the government nor run by greedy profiteers. There is no online banking in Nilkawt. There are no electronic trading facilities in Nilkawt.
Strict regulations and monitoring systems are in place throughout Nilkawt, including at its borders. All financial institutions, including non-banking ones, are required to obtain highly restrictive licensing. This is to ensure good financial hygiene can be maintained to prevent financial contagion.
The fact that most activities in Nilkawt are non-government and non-corporate means that Nilkawtian capital is used mainly for crowdfunding, most usually through the activities of the Parliament of Nilkawt.
Capital markets, financial services, financial markets and the prevention of insolvency, especially a sovereign default in Australia, will be discussed at the forthcoming conference.
The strengthening of Nilkawt's reputation as the producer of the world's most beautiful, most durable and most energy efficient household goods will also be examined. This will most likely take place on an exclusive tour through the kitchen and laundry areas of Palazzo Twaklinilkawt.
As most consumables in Nilkawt are skillfully handcrafted, except for the stocks used in emergencies, all Nilkawtians are aware of the practical activities necessary in times of crisis. Nilkawtians would never be willing to relinquish their sovereignty, including their monetary sovereignty.
There are many strategies already in place in Nilkawt to prevent a bank run, or any other banking crisis. Bartering is well developed in Nilkawt, to prevent any sort of currency crisis. In addition, complementary currencies exist at both the county and community levels. This means that few areas of the Nilkawtian economy, if any, are likely to experience a liquidity crisis.
As there is no stock market in Nilkawt, there cannot be a stock market crash in Nilkawt. Individual Nilkawtians are known to have non-Nikawtian investments, but that is their own problem.
The Nilkawtian economy is carefully managed to ensure economic bubbles and other potential financial crises do not occur.