The CF consists of the monetary assets commonly held by the community of Raye. Additions to the CF are in the form of amounts paid back by members for residential or commercial mortgages, and in the form of mandatory and voluntary contributions. Payments from the CF could be made for contributions provided by members subsequent to their mortgage pay-off (e.g. development, or maintenance or administrative work), as well as for any welfare, if approved. Also see Living in Raye. Raye may not borrow funds and the CF balance may not fall below the Ratio limitation (see below). The CF balance does not include the outstanding mortgages amount. Upon Raye's establishment, the starting balance of the CF was 0.
(close)

Raye's common assets consist of the Common Fund and all the tangible and intangible assets commonly owned by the people. Part of the tangible assets, the real assets consist of the commonly held land and everything built on it (also see "monetary base").
      ~
Raye's 42 square miles territory was acquired, as mostly bare land and an idle village, through the daring efforts and indebtedness of the Founding Group (FG). A small, modular power plant and a water utility were subsequently added. The acquisition was made in the form of a perpetual territorial lease, with the bulk purchase made upfront, and a small "territorial fee" imposed yearly for land access and mandatory environmental and defense aspects. About 2 dozen villagers chose to not take the payout and leave, but to remain, instead, under a dual-residency clause. They are naturally sympathetic to us. The accord with our host country guarantees Raye's virtual ownership of the land as long as we mind our own course, and it was also recorded with the World Court. While that can only mean that much, it is the very best the FG could do. Raye is free of any claims and liens from inside or outside entities, otherwise.
Except for its living premises and several parcels, the FG donates the realm of Raye to the community, which is the FG's "raison d’être". To safeguard early development, the FG handles the tasks of the Office and serves on a number of Council seats (see in Hall).
(close)

The community of Raye may make loans to its members only in the form of mortgages for acquiring properties from the common real assets. The mortgages do not carry interest and, except for commercial mortgages, time-terms. The balance of the mortgages represents the outstanding (unpaid) amounts and it is not counted in the Common Fund balance. Also see "Private Banking".
(close)

The Raye Currency Unit (RCU), or simply "unit" (e.g. 100 RCU or u100), is the only form of currency in use and it is not currently exchangeable with other currencies. It is pegged at 10 RCU = 1 hour of a machine programmer's routine work. Raye may only issue currency by monetizing its common real assets, in accordance with any demand. The Monetary Base (MB) at a given time is equal to the sum of the amounts of the outstanding mortgages that have been paid by the borrowing members. Real properties, or portions thereof, unpaid for and repossessed by Raye, decrease the MB by their original valuation. Generally, Raye does not purchase new or redeveloped real assets. By definition, the maximum MB is confined to the valuation of all of Raye's common real assets. As Raye could also make payments to members out of the CF (see Living in Raye), the MB is also equal to the cumulated balance of the common fund and private funds (MB = CF + Recorder). The currency in circulation is equal to the balance of the Recorder.
(close)

The community's Recorder registers all personal funds and validates all monetary transactions in Raye. It has no funds of its own, and it may not disclose information to 3rd parties, including Raye's administration, unless transactions discrepancies require it. Members or entities inform the Recorder of a transaction's amounts and counterparties, including the CF (by using the contact form and adding "Recorder" above the message body), and, with the net balance necessarily amounting to zero, the Recorder applies the respective amounts to the funds of the selling and buying counterparties. As with all matters, Raye relies on the integrity of its people.
(close)

The Ratio between the balances in the Common Fund and the Recorder is an indicator for the community's ability to make net-positive payments for members' work, development, or other. The Ratio may not fall below 1/3 and mitigations consist of reducing expenditures or further monetizing real assets.
(close)

Any financial arrangements between individuals and, or, entities are not subjected to the oversight or assurances of the community, although they shall always remain guided by Raye's Elements. Potential reasons for such arrangements might be borrowing outside of Raye's mortgages, or pooling resources, or increased transaction anonymity. Any such group or entity (e.g. bank) would hold its private fund in the Recorder and may enter transactions on behalf of their client-members.
(close)

You joined Raye because you resonate deeply with our aspirations, which merge with the fundamental aspects of sustaining Raye's economy.
Other reasons to gather RCU's include:
- to be able to reward (pay) other Rayeans directly for their contributions;
- to make purchases from stores or market (currently electronic-deliverables only, or per private arrangements);
- to purchase ads space for internal or external (if approved) venues;
- to use toward further purchases, or development, of real property (i.e. site pages).
(close)

The CF is owned in equal shares by all Rayeans. In the unforeseen event of existential changes of Raye, the CF would be distributed accordingly. The common assets would stay with the remaining community, as the Founding Group, and arguably most members, may not envision a living alternative and would carry on.
In the simple event of a member parting ways, for any reason (also see Living in Raye), the member forfeits his or her share in the CF but is allowed a 1-month farewell period to use currency from the personal fund, if any, for purposes within Raye. During the same period of time, the leaving member may also attempt to sell, or donate, his or her home to another member and use the proceeds. If the home is not fully owned and it is donated, the receiving member carries the remaining mortgage forward. The community does not repossess homes. After the farewell period, any remaining currency in the personal fund is transferred to the CF.
(close)