Founding of Le Marché Gelé

Le Council has reviewed this petition and finds itself in unfamiliar territory. This is, to be candid, because nothing like it has previously existed. The proposal is sound in principle. The example is clear. The escrow logic is sensible. Le Council has no objection to the vision of Le Marché Gelé. What Le Council does not yet have is the institutional apparatus to govern it. Questions of trade fairness, market manipulation, economic impact on existing Looney supply, and the relationship between the Marché and the existing exchange are not small questions. They require a dedicated body with a mandate to answer them. Le Council is therefore opening this petition for public appraisal while simultaneously noting that enactment, should the threshold be met, will require the formation of a new authority before the first offer is posted. Citizens who have opinions on what that authority should look like are advised to begin forming them. The Marché will not open until the governance is in place. Le Council has learned from experience that mechanisms opened without governance tend to become interesting very quickly, and not always in ways Le Council can manage.