In a shocking move that shattered world currency markets the Most Exalted Plenipotentiary and Chief Bellringer of Anarchic Indoctrination announced the revaluation of the Dudd as of 21 June in the fourth year, Rebel Standard Time.
“The recent turmoil of recent times in the international marketplace of our international counterparties has forced this minor adjustment. I apologise that the citizens and supporters of Rebellion must suffer to bear the burden of these most serious events” he said with a reassuring smile to the massive crowd of citizens concerned with more concerned with recent rent rises than the cost of eating a raspberry sorbet.
“The Duddcoin was previously pegged to Bitcoin as a stable store of value, but with the rise of alternatives like MelanomiaCoin a most necessary change has been necessitated. From now on the value of Duddcoin will be pegged to the value of fresh raspberries in the glorious State of Rebellion.”
The Bellringer continued to explain the new rules to preserve a state of anarchy “The State of Rebellion guarantees that all Duddcoin will be redeemable for the equivalent in fresh raspberries, subject to seasonal availability. International markets are assured that ample supplies of Duddcoin may still be procured through foreign currencies by buying Bitcoin and exchanging that Bitcoin at a set rate for Duddcoin as equivalent to its weight in raspberries. Then using this Duddcoin to make purchases of any merchandise available in the State of Rebellion such as fresh raspberries.”
“In order to stabilise the cost of the fresh raspberry the Ministry for the Promulgation of Pre-emptive Offence and Peace has secured a strategic reserve of frozen raspberries that will be used to ensure that fluctuations of delicious freshness are kept to a minimum. This will operate in a similar manner to Canada’s reserve of strategic maple syrup. However: as the location of a freezer in State of Rebellion is a state secret, our deep frozen vault is securely protected against any loss. Thefts like the Great Canadian Maple Syrup Heist is only a problem for liquid assets.”
“This new scheme will ensure that the cost of frozen raspberries is insulated from the overheated fluctuations of median house prices in faraway places that are unable to procure our delicious fruits. In effect this revaluation stabilises the costs of produce and inoculates the citizens of the State of Rebellion from turmoil1.”
“The layperson, who may not understand the complexities of financial instruments, may rest assured that the Dudd is now in effect managed through an advanced basket of international currencies. A scheme where the new standardised monetary unit of 500 grams of raspberries is stabilised by exchange for Bitcoin for Australian Dollars for US Dollars for whatever tradeable asset you wish to use (subject to fees and charges for any exchange). The bastardy of the international exchange system will ensure that any raspberry you purchase in the State of Rebellion is more than fair value when compared to equivalent inferior foreign produce.”
“The Most Highly Esteemed & Exalted Grand Poohbah has ensured the unanimous consensus of the entire collective by giving her most gracious and auspicious assent to this profound constitutional change that will protect our economy from the winds of change. Unless there is an unforeseen problem with the raspberry crop” the anarchist concluded.
1 The State of Rebellion has never sold Turm Oil and openly advocates a pledge of assurance, backed by Duddcoin, to any activist for Turm rights, that if it was decided to sell Turm Oil; it would be available at the Marketplace as a Turm-free product, subject to availability.
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