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[HELP] Currency?

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Gold is a good idea, and also unbiased towards any country. If it's not the ION, then gold would be a good idea. One problem, though: The produce of gold is unregulated since it just needs to be mined. This would favor those countries with lots of gold mines and, uh, gold diggers. :P

Expanding on the previous statement, what if a huge gold reserve is discovered somewhere? Instead of having a good impact on the economy, the price of gold would skyrocket down and cause a global financial crisis. And considering the political geography of Europa, there's a lot more land to be conquered and so much more to be discovered.

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Since there aren't common markets there is no need, as far as I can tell, for us to have any kind of common currency. 

Sure, people can create currency unions, there have been several in RL history. But no nation is so dominant in the world economy that other nations would need to adapt to any nations currency. 

But Miiros, Suverina, Tagmatium, Orioni and Adaptus makes up the economic output majority so our currencies are probably dominant in the regional economy. Guess it becomes so due to the sheer size of our economies compared to the rest of the region. 

I don't know of any nations in our region that use the gold standard. Suverina doesn't. Nor does Suverina play fair when adjusting the value of her currency. (Unlike most nations in RL today)

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54 minutes ago, Suverina said:

I don't know of any nations in our region that use the gold standard. Suverina doesn't. Nor does Suverina play fair when adjusting the value of her currency. (Unlike most nations in RL today)

*cough, cough* I do.... *cough*. 

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2 hours ago, Suverina said:

But Miiros, Suverina, Tagmatium, Orioni and Adaptus makes up the economic output majority so our currencies are probably dominant in the regional economy.

I wonder if the Occidental trio of @Suverina + @Adaptus + @Tagmatium Rules would be the first to come up with their own regional currency...

If @Miiros is open to it, we can try the same thing on our side.

For central Europa, I'm looking at the trio of @Fleur de Lys + @Cristina + @Magnaeus.

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29 minutes ago, Orioni said:

I wonder if the Occidental trio of @Suverina + @Adaptus + @Tagmatium Rules would be the first to come up with their own regional currency...

If @Miiros is open to it, we can try the same thing on our side.

For central Europa, I'm looking at the trio of @Fleur de Lys + @Cristina + @Magnaeus.

What!?

And lessen the dignity of the ancient Greater Holy Empire by having sharing the same coinage as those two pale imitations!?

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Pale Imitations? Aurues literally roughly translates to Gold Coins in Romance. How can you intimidate gold! ;)

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Posted (edited)
On 21/02/2018 at 4:17 PM, Suverina said:

Since there aren't common markets there is no need, as far as I can tell, for us to have any kind of common currency. 

Sure, people can create currency unions, there have been several in RL history. But no nation is so dominant in the world economy that other nations would need to adapt to any nations currency. 

But Miiros, Suverina, Tagmatium, Orioni and Adaptus makes up the economic output majority so our currencies are probably dominant in the regional economy. Guess it becomes so due to the sheer size of our economies compared to the rest of the region. 

I don't know of any nations in our region that use the gold standard. Suverina doesn't. Nor does Suverina play fair when adjusting the value of her currency. (Unlike most nations in RL today)

My country exclusively makes its money out of Gold and Silver. 

Personally, I actually like the idea of us using a commodity as our reserve currency. Especially one like tea, or grain as they deteriorate over time (as such making it difficult for any one nation to stockpile them and then crash someone else's economy by flooding it) and can be eaten.

Edited by Derthalen
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Over the weekend I had some idle time waiting for and sitting on multiple trains.

And so I have started to work on some custom design for my own paper currency.

Mind you: this won't be my proposal for an international currency. Just one of my personal experiments.

I've chosen to start with these denominations and colours.

  • Φ5 = blauw
  • Φ10 = geel
  • Φ20 = rood
  • Φ50 = groen
  • Φ100 = paars

Has anyone else gotten further than this?

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I have done the denominations, names, and such. I posted it in my fact book.

Quote

 

The Thaler (Th$), Schilling (s.), Groschen (gr.), and Pfennig (p.) are the four coins that make up the currency of Derthalen. There are 5 Pfennig to a Groschen, 20 Groschen to a Schilling, and 12 Schillings to a Thaler.

 

Thaler = s.12, gr.240, p.1200.

Schilling = gr.20, p.100.

Groschen = p.5.

Pfennig = gr.1/5.

 

One Thaler is worth $32.76 while conversely a United States Dollar is worth only three one-hundredths of a Thaler or gr.7 and p.1.

 

Sadly, I am not exactly good at designing coins... From largest to smallest it is silver, gold, silver, silver.

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Any progress on this front?

Having a currency from which we can determine the values of all others would really help, especially with exchange rates.

Recently, Derthalen threaten to fine all ships harboring Mauridivians with some number of Thalers, and I joked that we would pay the fine plus 10% if the ship did hand them over. Derthalen responded that it would be expensive, but there's actually currently no way to know. For all we know, the value of a Thaler is .001 Comoes, or 10000 Comoes. I find this situation quite inconvenient.

Also, y'know, this would allow for international economics to become a real, tangeable and more relatable thing.

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Posted (edited)
7 hours ago, Mauridiviah said:

Any progress on this front?

Having a currency from which we can determine the values of all others would really help, especially with exchange rates.

Recently, Derthalen threaten to fine all ships harboring Mauridivians with some number of Thalers, and I joked that we would pay the fine plus 10% if the ship did hand them over. Derthalen responded that it would be expensive, but there's actually currently no way to know. For all we know, the value of a Thaler is .001 Comoes, or 10000 Comoes. I find this situation quite inconvenient.

Also, y'know, this would allow for international economics to become a real, tangeable and more relatable thing.

The value of the Thaler is $32.76. You can find it in my factbook. Five-hundred and fifty-seven Thalers is about eighteen-thousand two-hundred and forty-seven Dollars, and thirty-two Cents. That fine will be multiplied by people found harboured, and will be issued to each person found to be harbouring knowingly.

Edited by Derthalen

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7 hours ago, Derthalen said:

The value of the Thaler is $32.76. You can find it in my factbook. Five-hundred and fifty-seven Thalers is about eighteen-thousand two-hundred and forty-seven Dollars, and thirty-two Cents. That fine will be multiplied by people found harboured, and will be issued to each person found to be harbouring knowingly.

What makes the Thaler such a strong currency in relation to all others? What makes my currency not as strong?

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Posted (edited)

My currency is backed by precious metals. I do not use paper currency... I should probably consider making one for usage with foreign nations. It would be far easier to give foreign nations and companies payment in promises and then ship the gold or silver once they decide to redeem the promissory note.

Edited by Derthalen

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49 minutes ago, Derthalen said:

My currency is backed by precious metals. I do not use paper currency... I should probably consider making one for usage with foreign nations. It would be far easier to give foreign nations and companies payment in promises and then ship the gold or silver once they decide to redeem the promissory note.

That makes for a currency that can be destroyed with one Gold Rush.

Plus, most of us seem to use a form of fiat currency who's value is more tied to how it can be used internationally. I doubt Derthalen is a very popular place for investment.

 

In any case, a world reserve currency that we can use to settle this dispute would be really nice ^.^.

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Posted (edited)
1 hour ago, Mauridiviah said:

That makes for a currency that can be destroyed with one Gold Rush.

Plus, most of us seem to use a form of fiat currency who's value is more tied to how it can be used internationally. I doubt Derthalen is a very popular place for investment.

 

In any case, a world reserve currency that we can use to settle this dispute would be really nice ^.^.

Oh definitely! Thankfully, there are ways to avoid that. One way is to simply not strike more coins according to gold and put them in circulation (the Spanish did this). While gold might have its own value, using it as a currency in its own right can be made illegal. In the end, much like a fiat currency, the ability to pay taxes and the fear of prison are what matters.  

 

I still support the usage of the good old tea block for our reserve currency.

Edited by Derthalen

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