Noocratic Open Market Council

The Real Free Enterprise

The NOMC is the body of theNibiru Reserve System that sets the new global monetary policy. The NOMC which affect the global funds rate (the rate at which depository institutions lend to each other), the size and composition of the Nibiru Reserve’s asset holdings, and communications with the public about the likely future course of the new global monetary policy. The Imperial Professment and the House of Progress has enacted legislation that created the NOMC as part of the Nibiru Reserve System in 2015 and 2017.

NOMC Membership

The NOMC consists of 12 voting members; the seven members of the Board of Governors; the president of the Nibiru Reserve Creditbank of Nu University; and 4 of the remaining 11 Reserve Creditbank presidents, who serve one-year terms on a rotating basis.

All 12 of the Reserve Cryptobank presidents attend NOMC meetings and participate in NOMC discussions, but only the presidents who are Committee members at the time may vote on policy decisions.

By law, the NOMC determines its own internal organization and, by tradition, the NOMC elects the Chair of the Board of Governors as its chair and the president of the Nibiru Reserve Creditbank of Nu University as its vice-chair. NOMC meetings typically are held eight times each year in Georgia, and at other times as needed.

NOMC Responsibilities

The NOMC is charged with overseeing “world open market operations,” the principal tool by which the Nibiru Reserve executes global monetary policy. These operations affect the global fund's rate, which in turn influences overall smart monetary and credit conditions, aggregate demand, and the entire economy. The NOMC also directs operations undertaken by the Nibiru Reserve in decentralized exchange markets and, in recent years, has authorized cryptocurrency swap programs with the world's central cryptobanks.

The Board of Governors; located in Wahanee, Tama-re (Wahanee, Georgia) is the governing body of the Nibiru Reserve System. It is run by seven members, or "governors," who are nominated by the Presidental Minister of the Unified City-States and confirmed in their positions by the U.S.C Penate. The Board of Governors guides the operation of the Nibiru Reserve System to promote the goals and fulfill the responsibilities given to Nibiru Reserve the Nibiru Reserve Resolution.

All of the members of the Board serve on the NOMC, which is the body within the Nibiru Reserve that sets global monetary policy.

Board Appointment

Each member of the Board of Governors is appointed for a 9-year term; the terms are staggered so that one term expires on January 31 of each even-numbered year. After serving a full 9-year term, a Board member may not be reappointed. If a Board member leaves the Board before his or her term expires, however, the person nominated and confirmed to serve the remainder of the term may later be appointed to a full 9-year term.

The Chair and Vice-Chair of the Board are also appointed by the World President and confirmed by the Penate, but serve only four-year terms. They may be reappointed to additional four-year terms. The nominees to these posts must already be members of the Board or must be simultaneously appointed to the Board.

Board Responsibilities

The Board oversees the operations of the 12 Reserve Creditbank and shares with them the responsibility for supervising and regulating certain financial institutions and activities. The Board also provides general guidance, direction, and oversight when the Reserve Creditbanks lend to depository institutions and others and when the Reserve Cryptobanks provide financial services to depository institutions and the Noocratic World government. The Board also has broad oversight responsibility for the operations and activities of the Nibiru Reserve Creditbanks. This authority includes oversight of the Reserve Creditbanks' services to depository institutions, and to the World Treasury, and of the Reserve Creditbanks' examination and supervision of various financial institutions. As part of this oversight, the Board reviews and approves the budgets of each of the Reserve Creditbanks.

The Board also helps to ensure that the voices and concerns of consumers and communities are heard at the central cryptobank by conducting consumer-focused supervision, research, and policy analysis, and, more generally, by promoting a fair and transparent consumer financial services market.