Ministry of Finance
The Ministry of Finance is the government ministry responsible for monetary policy, public finance, currency administration, and oversight of the cereal-based monetary system of the Glorious Revolutionary Microrepublic of Whaaat!?
The Ministry supervises the Cereal Exchange Authority (CEXA), which establishes exchange rates among the Republic's recognized cereal commodity currencies.
Monetary system
The fundamental commodity unit is the bowl, officially defined as approximately 1¾ US cups = 400 mL.
The four principal cereal currencies are:
- Sweet Corn — entertainment, luxury goods, and hard foreign exchange
- Corn — ordinary unofficial commerce
- Wheat — government and official transactions
- Chocolate — health care and medical transactions
The Whaaatloo
The Whaaatloo (symbol: ₩) is the basic monetary unit and is expressed in bowls of Wheat cereal.
₩1 = one standard bowl of Wheat currency = approximately 400 mL (1¾ US cups).
Sweet Corn, Corn, and Chocolate currencies are valued as multiples or fractions of the Whaaatloo.
Based upon average United States retail cereal prices, the Ministry uses a nominal reference value of approximately US$0.60 per bowl.
Commodity currencies
Sweet Corn
Sweet Corn is the Republic's hard foreign-exchange currency and is principally used for entertainment, luxury goods, and other discretionary transactions.
A standard Sweet Corn bowl consists approximately of:
- 200 Frosted Flakes; or
- 100 Cap'n Crunch nuggets.
A typical bowl weighs approximately 60 grams and represents approximately 240 calories.
Corn
Corn currency is intended for regular day-to-day transactions of an unofficial nature.
A standard Corn bowl consists approximately of:
- 200 Corn Flakes; or
- 150 Corn Chex.
A typical bowl weighs approximately 50 grams and represents approximately 180 calories.
Wheat
Wheat currency is the official governmental currency and forms the commodity basis of the Whaaatloo.
A standard Wheat bowl consists approximately of:
- 200 Wheaties flakes; or
- 2 full-size Shredded Wheat biscuits.
A typical bowl weighs approximately 60 grams and represents approximately 200 calories.
Wheat currency is used for government payments including taxes, postage and stamps, utilities, permits, government fees, and Cereal Aptitude Test fees.
The Government may require payment in whole full-size Shredded Wheat biscuits regardless of the calculated fractional value.
Chocolate
Chocolate currency is principally reserved for the health-care economy, including health services, drugs, pharmaceuticals, rehabilitation, and physical therapy.
A standard Chocolate bowl consists approximately of:
- 400 Chocolate Pebbles;
- 200 Count Chocula ghost-shaped cereal pieces and marshmallows; or
- 150 Cocoa Puffs.
A typical bowl weighs approximately 60 grams and represents approximately 250 calories.
Cereal Exchange Authority
The Cereal Exchange Authority is responsible for establishing and adjusting exchange rates among Sweet Corn, Corn, Wheat, and Chocolate currencies.
The Wheat-based Whaaatloo serves as the principal reference currency. Market trends are normally expressed as positive or negative changes measured in flakes; health-care movements may instead be expressed in pebbles.
CEXA traders must successfully complete the Cereal Aptitude Test (CAT) with a score of at least 70 percent before being granted a seat on the trading floor.
Nominal cereal values
| Cereal | Currency class | Difference from ₩1 | Approximate bowl value |
|---|---|---|---|
| Corn Flakes | Corn | −$0.15 | $0.45 |
| Frosted Flakes | Sweet Corn | −$0.10 | $0.50 |
| Cocoa Pebbles | Chocolate | −$0.08 | $0.52 |
| Cocoa Puffs | Chocolate | −$0.07 | $0.53 |
| Cap'n Crunch | Sweet Corn | −$0.04 | $0.56 |
| Shredded Wheat | Wheat | ≈$0.00 | $0.60 |
| Chocolate Chex | Chocolate | +$0.03 | $0.63 |
| Corn Chex | Corn | +$0.05 | $0.65 |
| Wheaties | Wheat | +$0.09 | $0.69 |
| Count Chocula | Chocolate | +$0.13 | $0.73 |
These figures are reference valuations rather than guaranteed retail redemption rates. Actual exchange values among cereal currencies are established by CEXA.
Whole Biscuit Rule
Because two full-size Shredded Wheat biscuits equal approximately ₩1, each biscuit represents approximately ₩½. Where payment must be made in whole biscuits, the obligation is rounded upward to the next available half-Whaaatloo increment.
| Calculated obligation | Required biscuit payment | Effective payment |
|---|---|---|
| ₩0.25 | 1 biscuit | ₩0.50 |
| ₩0.50 | 1 biscuit | ₩0.50 |
| ₩0.51 | 2 biscuits | ₩1.00 |
| ₩1.00 | 2 biscuits | ₩1.00 |
| ₩1.01 | 3 biscuits | ₩1.50 |
Generic cereal references
The Ministry prefers generic or historical cereal illustrations rather than contemporary commercial packaging. See the Wikimedia Commons references in Currency of Whaaat!?.