Possible to speed up server clock?

Related question here (although Java-based). Even if you could speed the system clock up you'd break various of things (logging, timestamps on files, time-based kernel stuff to name but three) so it would seem better if your code could be made independent of "real" time.

Perhaps you could invent a new unit of time, equal to 1/12 of a second, and code your app in terms of that?

I suppose a script that changes the clock (starting waaaay back) and every second adds +12 seconds won't be good, will it? Somewhat I suspect the application is not using gettimeofday, but has an internal counter and timers. What simulation is that?