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Currency
Topic Started: Feb 8 2011, 06:53 AM (480 Views)
Lopez151

Should we have set currency for the whole legion?
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HIM Emperor Emeritus Durk II
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Simply Irresistible
Perhaps, but this is more of a roleplay issue than something for the Imperial Senate (which concerns itself mainly with gameplay). It might be wise to establish a roleplay council to govern issues such as this.
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Lopez151

I agree maybe when our constitution is established I can bring this up emperor
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New Enterprise
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Alternatively, we could assume we all start out with different currencies and then this could be a proposal that one of the nations make in character over in our hopefully-soon-bustling-with-activity roleplay section. If we were to do that, perhaps some of us would join and form a shared currency while others might choose to retain their own.

We would also need to discuss matters closely linked to the currency of a nation, most notably the adoption of a shared, supranational monetary policy, which I myself must admit I am somewhat sceptical to at this point in time.
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His Lordship Yonghuoyan
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I like this proposal. Allowing something like the Euro to unfold, with "countries" being able to decide whether to join or not, through RP, is my favorite.
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Ascienia
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This be better sent off to an RP council.
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Draza
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New Enterprise
Feb 9 2011, 01:34 AM
Alternatively, we could assume we all start out with different currencies and then this could be a proposal that one of the nations make in character over in our hopefully-soon-bustling-with-activity roleplay section. If we were to do that, perhaps some of us would join and form a shared currency while others might choose to retain their own.

We would also need to discuss matters closely linked to the currency of a nation, most notably the adoption of a shared, supranational monetary policy, which I myself must admit I am somewhat sceptical to at this point in time.

This is a good idea we should do this.
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Evil Director
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I believe the Legion should adopt a uniform currency, in which all nations of the region have the same currency, thereby stopping the chaos and confusion of dealing with hundreds of different currency's.

In a region which one of my nations is located, they have adopted a region wide currency, which though it may seem like role play, it allows them to trade between other regions, increasing their region's economy and strength.

I think we should take full advantage of this and start "printing" our own currency.
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Draza
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There is one problem with a forced uniform currency even if it'll make rp easier. Assumably every nation would need to swap out their currency for the Legion Currency.

Let's say that the Legion Currency has a value of $1.00 American. When my country trades in it's currency we would be getting a bad deal since our Jani is worth only $.32 American. We would be loosing money.
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Evil Director
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Draza
Feb 9 2011, 05:56 PM
There is one problem with a forced uniform currency even if it'll make rp easier. Assumably every nation would need to swap out their currency for the Legion Currency.

Let's say that the Legion Currency has a value of $1.00 American. When my country trades in it's currency we would be getting a bad deal since our Jani is worth only $.32 American. We would be loosing money.

I think you misinterpreted my use of uniform currency. What I meant was that all nations part that are part of the Legion would have their original local currency abolished, such as your Jani, and replaced by, say, the Legion Credit. So it wouldn't be possible for you or any other nation to lose money. I think this would solve the problem of confusion multiple currency's have on an economy.
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Draza
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I understood you right. Though changing money is alot harder than that first you have to figure out how much the new currency is worth then you have to switch currencys. Like the European union did. Some countries kept their own money because it was worth more than the euro like England.

I know it may seem silly to not want to switich money if the money I'm switching for is worth more but having a low currency value will help with trade.
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His Lordship Yonghuoyan
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To add on to what Draza said, other nations in the EU joined the Eurozone because otherwise their currency would be stronger. Take Germany for example. They are an export nation, and have a strong economy. This is helped by a Euro, which would be weaker than what the Deutsche Mark would have been had it still been around today. Overall, I think that this should be an RP decision.
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Rt. Hon. Rinamir Mortem
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In terms of a bureaucratic and running manner, a unified currency is a good idea. Also it would make the legion just that little bit more closer, especially for those who are perhaps the less integrated in the Imperial Legion. Yet, there are at least 101 nations in the Legion and so it would possibly be a nightmare to make sure that all of the Legion change their currency to the Legion Credit as there are 29 members registered on this forum.
Ultimately the most bothered in the Legion could change their currency to possibly increase the participation of the outer fringes of the Legion.
Obviously I am for the unified currency simply because it has good potential to make us stronger but my theories may be wrong.... <_<
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Llamas

Man, you guys sure take this game seriously. You all sound like sofisticated poloticians and lawyers. Anyways I wouldn't have a problem with changing our currency to something we can all have. Right now my currency is fingers. We should have something like Legion coins or something similar.
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Uue

Evil Director
Feb 9 2011, 06:22 PM
Draza
Feb 9 2011, 05:56 PM
There is one problem with a forced uniform currency even if it'll make rp easier. Assumably every nation would need to swap out their currency for the Legion Currency.

Let's say that the Legion Currency has a value of $1.00 American. When my country trades in it's currency we would be getting a bad deal since our Jani is worth only $.32 American. We would be loosing money.

I think you misinterpreted my use of uniform currency. What I meant was that all nations part that are part of the Legion would have their original local currency abolished, such as your Jani, and replaced by, say, the Legion Credit. So it wouldn't be possible for you or any other nation to lose money. I think this would solve the problem of confusion multiple currency's have on an economy.

That seems impossible to enforce unless we appoint someone to be "hall monitor" and go around checking everyone's nation to make sure it has the right currency named! Sounds boring to me!

What about using NSEconomy? (nseconomy.thirdgeek.com/ ) It will give you the exchange rate between your nation's currency and $1, and if we agreed to pretend that $1 is really 1 of whatever regional currency we decide on, it's easy enough to calculate cost and stuff.

So if our Emporer wanted to sell me tanks for 1 billion in his currency, it would be a little less than half a billion in regional dollars, which would be 8/10 of a billion of my currency the bloo.

(According to NSEconomy; 1.8914 bloos = $1 = 2.3732 Verduns)
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