Step

Description

Explanation

1

The High ABC Council begins operation

The High Council is responsible for ABC supervising and conducting. They admit new member.

2

Reform of the CB. Introduction of procedures of LP control

Introduction of legal act changing functions of CB to be payer of remuneration for PSE. CB becomes LP controller. Emission of money is eliminated.

3

Selection of model country

Determination of name of MU in the ABC.

4

Access of a second country

Evaluation of LP. Applying the translation procedures.

5

Edition a directive on minimum wage

Adjusting the minimum wage to theory of fair pay.

6

Edition a directive on labor productivity control

Introduction procedures how to measure a level of labor productivity among the ABC members.

7

Edition a directive on credit control

The credit formula is a part of theory of wage equation of exchange.

8

Edition a directive on control of exchange rate with outer world

The parity of labor productivity ratio is the chief determinant of the fair exchange ratio.

9

Edition a directive on control of commercial bank liquidity and solvency

Central Bank no longer emits money so commercial bank must maintain liquidity and solvency on its own. Procedures ought to be precise and effective.