Printing money

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Printing money

Post by Gibberish45 on 2012-06-16, 15:29

I noticed there are over 750 pages of legitimate offers for BEF, amounting to probably millions worldwide. With the price in gold already at the lowest possible, what's to stop us from printing insane amounts of money and kicking our citizen packs and other programs into overdrive?

Amateur economists, please explain to me how this isn't the great idea I think it is Razz
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Re: Printing money

Post by Backwards on 2012-06-16, 15:48

if everybody should start asking for citizen packs with an insane amount of weapons and food you will put pressure on the eBe market:

- people requesting the CP's going to want to put them on market to make 100 % profit
- companies producing and putting it on the market will not get their products sold

lowering in prices (spiral)

wages will have to come down, s*** like that.

on the other hand, people from other countries will start buying from our market once prices are low enough to put on their market (belgium gross price + their country's VAT % = their country's gross price), which generates taxes (which is a boost for our treasury), to put on their markets to get their treasury up.

Not sure if we get any benefit out of it at all. Except higher volumes against lower prices ergo less taxes against the current structure at current prices. Unless we get volumes getting sold up so hard all eworld is buying in belgium :p

I am probably forgetting some things but that is because it is Saturday and I refuse to think to hard Smile
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Re: Printing money

Post by goopypants on 2012-06-16, 17:20

what do you mean by "printing money"?

if you mean to issue currency, that is fixed at 0.005. which means you get a far worse rate for issuing money than you would on the market.

if you mean "lets cash in all our gold for a giant pile of BEF", that really should be "lets tap our reserve"

otherwise i dunno what you mean
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Re: Printing money

Post by Gibberish45 on 2012-06-16, 20:35

goopypants wrote:what do you mean by "printing money"?

if you mean to issue currency, that is fixed at 0.005. which means you get a far worse rate for issuing money than you would on the market.

if you mean "lets cash in all our gold for a giant pile of BEF", that really should be "lets tap our reserve"

otherwise i dunno what you mean

That's the explanation I was looking for Smile I assumed it must not be a great idea since we aren't currently doing it. However this seems like a good way to spend the CM medal gold that will (presumably) come in next month.

Also, lower wages is not a bad thing they are currently ridiculously inflated for a low bonus country due to the disparity between the number of Q6 owners and working citizens.
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Re: Printing money

Post by Jofroi on 2012-06-16, 20:44

I rose the wages as much as possible, and I won't go down unless my paras funding is cut ^^.

I remember the times when we were not printing money to avoid inflation ^^.

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Re: Printing money

Post by Gibberish45 on 2012-06-16, 21:06

Then I suggest we cut your funding Jofroi.... especially since the PARAs have produced no tangible benefit to eBE. Why have an elite MU when we have not a single important battle to fight in?
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Re: Printing money

Post by goopypants on 2012-06-16, 21:10

Gibberish45 wrote:Then I suggest we cut your funding Jofroi.... especially since the PARAs have produced no tangible benefit to eBE. Why have an elite MU when we have not a single important battle to fight in?

I suggest we just de-fund Jofroi because of his bad breath, but as for the "no important battles", the paras have shown their worth repeatedly working with our friends and allies. Just ask Moldova.
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Re: Printing money

Post by Viridi on 2012-06-18, 18:48

That's not the point, Gibberish. The point of the paras in terms of helping Belgium is to ensure that when we ARE attacked some day, we'll have some means to defend ourselves.

As for now, it means we can bolster and strengthen relations with our allies, which is very good.
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Re: Printing money

Post by Gibberish45 on 2012-06-18, 21:55

Viridi wrote:As for now, it means we can bolster and strengthen relations with our allies, which is very good.

See the other thread on this one..... I agree with you on this statement though. Also, as to this thread, I think it sucks that wages are kept high just because of state funding. I don't even see what that has to do with it. Half of my employees are newbies that quit after a day or two and I barely make 40 BEF off of each one selling Q6 weapons with raws at record lows. That means instead of me reinvesting that money in the eBE economy it dies along with the newbs.

High wages don't help the country. Citizen programs do. Oh well, it's out of my control.
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Re: Printing money

Post by Nohjis on 2012-06-19, 00:04

The reason I raised wages so high is to be able to keep 25 employees working for me without them moving to some foreign country for the extras they could get. Jofroi is not telling the entire truth by the way, we still have room to raise wages to 225-230 BEF or something like that but then we would be doing it all for free really. I wouldn't lower my wages as I don't have any monetary goals left to work for in the economy module. (It's not worth the deal to spend 50+ hits in economy with this inflated goldprice)

Furthermore, the wages I pay are mostly paid to long term eBelgians who invest the money into their day to day activities and thus creating a broader economy rather then concentrating the wealth in the hands of the lucky few who got their Q6 companies first.
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Re: Printing money

Post by theophyledepatryarkes on 2012-06-19, 01:55

As a employee of Nohjis since my first day in eBe, I can only say I approve of this policy...
His salary has been important to me as a newbie and even now!
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Re: Printing money

Post by Gibberish45 on 2012-06-19, 03:05

Nohjis wrote:Furthermore, the wages I pay are mostly paid to long term eBelgians who invest the money into their day to day activities and thus creating a broader economy rather then concentrating the wealth in the hands of the lucky few who got their Q6 companies first.

How about the unlucky this guy who got a Q6 late? Sad If all of your employees are long term then great but that does not change the fact that paying newbs high salaries is a waste as the attrition rate is very high. Jofroi has a high turnover like most of us and the driving up of wages 5 BEF at a time is ridiculous. Just because you guys already made enough doesn't mean no one else should, especially under the guise of helping newbies when it does no such thing.

That's how the free market works though. Like big tobacco companies pushing for tighter regulations on their own industry to force smaller competitors out, not that I'm saying that's what's going on, only that it will have the same effect. At some point it won't be worth it for me to even have employees and I will seek to move to a full bonus country, if they'll even have me.

/rant, no one likes a whiner so I'm done on this topic Sad
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Re: Printing money

Post by Jofroi on 2012-06-19, 05:52

Well, the reason of the high wage is the low amount of workers.

And the reason why wages rose so fast is your fault Gibberish^^. In old times, we used to have some agreements to keep wages low but then if some people begins to rise wage 0.01 by 0.01 it'll rise, slowly but it will. So if I don't want to fight in a endless war, it's better to end it fast.

Anyway, the MM is so f*** up that even with wages at 180BEF I'd not make enough profit to train.

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Re: Printing money

Post by Boklevski on 2012-06-19, 11:10

Well, I'll join the rant...

Gibberish45 wrote:At some point it won't be worth it for me to even have employees (...)
Which I don't have any more for ages. But you can't blame that on Jofroi... only on the admins, who f*cked up this game (on the economy side at least).

Jofroi wrote:I remember the times when we were not printing money to avoid inflation ^^.
Yup. Where you had a monetary market for each country. But no, the admins (again) had to turn the whole freaking world into one big eEuro zone...

.. and we see how fabulous the RL Euro zone is working out. Razz
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