An Act of Parliament was passed yesterday formally establishing the Precious Metals Account, an online investment account from which profit can be drawn from investing in precious metals such as gold, silver, and platinum.
The Precious Metals Account (PMA) was initially set up by Lord Michael Simpson with a starting investment of $200 in precious metals.
Lord Simpson, an experienced investor, has donated the account to the Austenasian Treasury. Profit generated by the account will now be available to fund “state expenditure and the public good”, in the words of yesterday’s legislation.
For almost ten years now, Austenasia’s state income has come almost entirely from voluntary donations. Another source of income will now enable the Treasury to better budget for the funding of state projects.