Like Bonaparte gets a Borodino instead of an Austerlitz…
guys, I think I have find the real world counterpart of our Dragoon carbines: The Paget carbine.
This next game whenever it’s gonna be released we’re not gonna be dealing with warfare gonna be politics intrigue offices responsibility and are estate. Giving two to three years every player is going to have like there’s several perfect route moments.
Hey guys since we had discussed and worry about debt I thought this be interesting to post.
The ultimate problem with the gold standard is that it’s reliant on the price of an outside resource to control the value of the currency. While this does mean that theoretically, you can only print so much money (not that this stopped early US governments from running free with their bonds), it also means the money you do print is tied directly to the supply and scarcity of the metal backing your currency.
So, when say, some ragged band of heavily armed adventurers finds themselves in possession of several mountains filled with that metal, and then proceeds to dump it into the world economy, you have a major problem. This was one of the reasons the Ming Dynasty collapsed.
Fiat currencies, on the other hand, are ultimately backed by the legitimacy of the state that issues them. As legitimacy is backed primarily by a state’s monopoly on the legitimate use of force, institutions like the Federal Reserve exist mostly because most people in the First World aren’t comfortable with the idea that their money is backed by the ability of the issuing party to commit violence on them and their loved ones until they agree to value that currency at the state-sanctioned rate. This means it’s easier for the currency to remain stable, even in times of massive spending.
Frankly, what this means is that if Tierra had a fiat currency instead of being on the bimetallic standard (with the primary sources of both metals in that system controlled by foreign powers), it wouldn’t be in anywhere near as perilous a financial situation as it’s in.
Too bad Weathern’s heart would stop if we bring up a Fiat currency.
Not just Weathern’s.
Remember, Takara controls the silver and Kian controls the gold, and both of them would prefer Tierra’s economy remain moored to those metals kthx.
There’s also the problem of trying to explain to people that the new Gryphon’s value is based solely on the word of a government that’s official mandate is Aetoria + Cunaris. Our government’s word isn’t something as strong as the US governments.
Thank you for explaining that Mr Wang, I like banks but seems like the problems with the system is that the people at top don’t always have the interest of the bottom in their heart. But I hate to live in pre Federal Reserves America if I have to worry about the banker gambling with my money.
The Federal Reserve is independent from the trappings of government so you don’t need to worry about the US government ruining everything.
The Feds job is to steer economic policy as impartially as possible. The Treasury’s job is to shape policy so that it matches up with the President’s views.
But the Fed has a lot of power to act to protect the economy.
But shouldn’t I worry about the too? What if their interest gones south or benefits the 1%
The Fed’s job is just to focus on short term interest rates and steer economic policy that way. The Fed also handles some other things like mortgages now after 08.
The Treasury is the one that has the IRS, prints money, handles regulation and the like.
The fed has an interest in keeping the economy running smoothly as possible and as @Bryce_Kaldwin say they got lot of power to act to help the economy. Personally you know I weren’t trust the guys in charge of that place … They got their own agendas. But everyone wants to USA economy to stay tough and good or we see a collapse that make 1929 like a just a bad at the office.
The system we use while flaw is better than the old system unless you prefer the world goes back to a barter system like cavemen or serfs. Because I not carrying around a sheep or sack of ore or wool to the market everytime I want to trade for food.
Can you elaborate what you mean by if Tierra by Tierra would be in less perilous situation if it had a fiat currency? It would seem to me that a fixed currency standard to the Kian Doubloon would superior price stability than say an unmoored currency only backed by King Miguel promise to repay.
If Tierra had a fiat currency with a centralised economy, then it could simply pay off the debt by increasing the money supply gradually. While there would be some level of inflation, it’d also build confidence in the state (since its creditors know for a fact they’ll be paid off) and it’d quickly create surpluses again.
They’d just do quantitive easing which is a wonderful thing of financial magic.
Namely- just take the profit margins you make off of treasury bonds and notes and shove it back into the economy.
Well more problematic for commodity based currencies is that they are subject to commodity prices. One markets get more integrated (around this 19th century irl) then the economy is subject to forces they have little to do with what is going on locally. Gold or silver scarcity or oversupply globally that has nothing to do with the supply of “money” locally for example.
Why hadn’t that happened yet? A centralised economy sound nice or are the conditions not right for it
Words that Petyr were use… Cause you know he a wizard banker.
Not really he just borrowed money…
To most lords and Robert looks like he just rubs two coins together and more appear.
Oh how your wife? If i recall right you two were expecting