What is going on with the value of gold?

Currently BEF is worth nothing anymore. Can't anyone do anything about this? Don't we have a national bank and doesn't anyone take care of that?
I guess everyone is buying gold because of all the anti V2 ads. Currently gold is being bought for 70+BEF what is just crazy.

Please someone do something. I guess some will be upset again that I talk about this but clearly this is someones responsibility.

hey

Ok just a quick check. Normally the PEG should be maintained at 1 BEF = 0.019 gold. That was something we decided and wanted to enforce. We also have currently 106 gold in NBB-BNB.

If we wanted to restore the PEG at 0.018 we'd have to buy 3005 BEF at 0.017 worth 51 gold.

If we wanted to restore the PEF at 0.019 gold we'd have to buy 1900 BEF at 0.018 worth another 33.7 gold

Do we have to means to restore the PEG at 0.019? Yes we can, but the problem then is that we would be nearly litterally broke. We would have no gold for any other project and I can bet that within 24h other people will propose at 0.018 and 0.017 again making that this would only last 2-3 days (max.).

Painfull but true.

I do not think the market is going to restore itself and yes I see your point that if we restore it the same will happen in 2 days. But in 2 days V2 is coming. And prob BEF will even become less useful...

Actually isn't Belgium already broke? If we can't even spend 80 gold to stabilize the market I do not see how our economy can ever recover.

I don't neither, and thats why it's important to search other way to bring gold into our state treasury...

You want us to do something ?
We try, I try...
I proposed a plan to bring 300 gold in 24h01min for Belgium...
But you voted No for example.

You're allowed to find other solutions too !

Like shadowukcs who told us he is able to make 300 gold a month but who didnt make it since he is in Belgium... What's the point ? Well he gave us advices for Belgium to do it, not him because he don't have time, but we need gold at first to try it... and it's speculations...

300 gold gotten in a dishonest way isn't going to save the Belgium economy either. If we follow Apotygma logic it will only stabilize the economy for less than a week.
So a 1 time injection of 300 gold won't make a difference. It will only destroy our pride. So that's not a solution for me.

I agree that if someone says he can make 300 gold he should do it or teach the rest of us. And we do not need durty money to do this.

What is a fact is that something needs to happen. Not a 1 time/temporal measure but something that brings in a constant flow of gold/money.
And fast!

What is a fact is that something needs to happen. Not a 1 time/temporal measure but something that brings in a constant flow of gold/money.

Don't you think I tried to figure out a solution? All need gold to succeed. If we want state companies we need gold, stabilize the MM you need gold, you want to play the MM you need gold.

Everything needs gold. Also 300 gold is quite huge to prevent movements, wouldn't be enough but could allow us to last 2-3 months easily.

If you have a solution propose, but miracles don't exist.

I am not saying you aren't trying to find a solution. I said I agree with you if we fix it that the same will happen in a few days. But I lost you when you came to the conclusion that with 80 gold we would only win a few days and with 300 gold we would win months.

I agree miracles do not exist. And clearly the 300 gold isn't a miracle.

What I do find strange that as soon as we talked about selling the CP resource prizes are sold for dumping prizes and all the market gold is bought. It could be a coincidence but...

Even more fun is that the rec exchange rate actually has gone down the last days. Currently it is 1 GOLD = 28.84 BEF

You would also think that this would be discussed more and seen as an absolute priority. But all I hear is that their is no simple solution and that we need a miracle. It becomes even more surrealistic when the government asks its citizens for solutions. Sorry but isn't this the task of the government? (this is not an attack but I do think that a government should be taken accountable)

With power comes responsibility. If you don't want to be accountable you shouldn't take on the position.

Please enter in the gov...
Apotygma invited all belgians to enter in the gov...
He had 3 answers...
Such a government cant manage a whole country by his own, even with the best volunty of the luck...
I'm demoralized when i see the ratio of remarks critics constructive remarks / volunteers for government job...

edit :

aVegan wrote:
What I do find strange that as soon as we talked about selling the CP resource prizes are sold for dumping prizes and all the market gold is bought. It could be a coincidence but...

Yeah, I' have bought all offers so Congressmembers vote yes to my proposition...

Come on I wasn't suggesting or thinking that this has anything to do with you

You are my party president and minister why should I distrust you.

Clearly I am still to inexperienced to be in the government. Give me a month or two I have however never hidden it that I am available to take extra duties on. Just ask (as long I have a good guide and teacher)

Nice, we need some new actives citizens to work wit the oldest ! ;-)

It's a game MR A Vegan, and getting somthing in a dishonest way to help your countery is accepted. I probably would be in real. It's worth the risk.

Sorry Dan but because this is a game doesn't mean that dishonesty is more accepted. And this thread isn't really about the CP but about the economy that is in a big crisis (and a one time donation of 300 gold won't solve that).

It wont, but it will help if we have it to use over time meaning we will have more money saved up for if something bad happens.

And does learning how to make 1000 gold in a month if you have already 800 gold in account will help us ?

lol I just realised I'm way way richer then belgium as a country....



on-topic: same as in the other thread: it really isn't that hard to make big profits. There are tons of ppl out there who can do it (I'm leaving on holiday and I'm not monitoring the market anymore), but if you really can't find someone, I would suggest asking elbanaan. He's RL belgium living in eUK and he's pretty awesome with the MM. He's handeling the eUK treasury pretty good too and it's deffo worth a shot asking him to handle the eBE market at the same (considering we have a small amount of money, it shouldn't take much of his time)

Dan wrote:It wont, but it will help if we have it to use over time meaning we will have more money saved up for if something bad happens.

Have you checked the monetary market and regular market recently?
Something bad has already happened and it won't be fixed with a 1 time injection of gold. Again this thread was NOT started to discuss something that has not passed a congress vote. But about (honest) ways to get the Belgium economy back on track.

Do we have to means to restore the PEG at 0.019? Yes we can, but the problem then is that we would be nearly litterally broke. We would have no gold for any other project and I can bet that within 24h other people will propose at 0.018 and 0.017 again making that this would only last 2-3 days (max.).

Well, all MMs fell the past week...some dramatically (russian fell 15% from 0.038 to 0.032) and this is mainly due to the economical decrease (based also on the migration to eRep Rising).

I don't think you can restore the PEG at 0.019 and I don't think it is necessary.

What you could do is to invest some gold in the MM to keep it at least at this 0.017 rate. This can be done with some 10g at below 62.5 BEF/gold.

This would actually mean stabilizing the market but also "keeping" the value of your ~29k BEF currently in treasury. Otherwise, the guys that ask for 70+ BEF/gold will start reselling at 0.015 and that wouldn't be so nice.

Please consider this!

We can only do so much Mr A Vegan, and somethimes we have to let things happend so that we come out on the other side better off than we started. and on your last comment, v2 caused it as some people are panacing about there money and how gold effect everything now.

I would say not to do anything untill v2 now as it could affect how money is traded and converted.

But I will listen to all opinions on this =]

I didn't say anyone did to little. I was asking if a solution is at hand and if we could solve it as a group.

Doing nothing is just not an option. And if you are for doing nothing you shouldn't start your post with we can only do so much. You can ALWAYS do more than NOTHING.

And btw I am not a Mr. Vegan is more than enough for me.
Thanks!

Ok, Vegan. I said do nothing till v2 as we may choose wrong and face the concequences then. The main thing we need to do is put our heads together and think of a solution.

Dan wrote:The main thing we need to do is put our heads together and think of a solution.

completely agree with that and that is the main reason why I started this thread.

Yh, I understand, sorry, i should really try and be more awake when i talk on threads. You want to form a comittie? or summing? =]

I agree that we should do nothing till v2 comes out. The impact of gold on all the different aspects of the game (training, working, learning, pleasure,...) will be totally different then V1

you've got to love thread necromancy ^^

anyway, I just happen to notice that our beloved BEF is skyrocketing up: 1 bef = 0,019. One thing is happening though: we're running out of bef sellers. We've got 2K bef on the market at a price of 0,019 gold and 1K at 0,02 gold, but after that, it's at once 0,029!

peg time?

Sammy Tanghe wrote:peg time?

Most definitely! A high BEF rate isn't bad, because it will make our citizens richer (and it's makes buying boosters a bit cheaper compared to the wage we earn - making our population stronger or more productive), but a too high rate will hamper the opportunity to sell goods abroad; and I guess quite some managers do that as the local market is pretty small.

Going to set a large amount of BEF at 0.020 G to start with.

Good luck bokki :p

euhm, the bef is now at 0.022g/bef and a total of 1k and a halve at this price.

someone could put up a peg again? I think the last peg failed due to a wrong tarif (I thought I daw a peg from NBB on 0.19 instead of 0.019)

Where is NBB-BNB on MM?
Now is 0.021g/bef until tomorow will be 0.019 if don't attack again...

if we're waiting for bok (the last MoF) to do it ...

not a good plan

he's on a holiday till the 13th ...

Your market is as bad as Switzerland, except with the job market, one day we could have a job at 9.50 CHF and the next at 4.00 CHF, its not stableising :/

Sammy Tanghe wrote:if we're waiting for bok (the last MoF) to do it ...

not a good plan

he's on a holiday till the 13th ...

Where is our MoF is we need him

Critically wrote:

Sammy Tanghe wrote:if we're waiting for bok (the last MoF) to do it ...

not a good plan

he's on a holiday till the 13th ...

Where is our MoF is we need him

I suppose I can replace him until he arrives

Rowan Quigley wrote:

Critically wrote:

Sammy Tanghe wrote:if we're waiting for bok (the last MoF) to do it ...

not a good plan

he's on a holiday till the 13th ...

Where is our MoF is we need him

I suppose I can replace him until he arrives

Watch out guys, it's a Swiss PTO attempt!!!!!!

I think it would be a good idea to have a MoF that is available more than half of his term. Wouldn't it be a good idea to appoint a MoF who isn't on such a long holiday? Lets not forget that MoF is one of the (if not the) most important minister posts.

He is not alone in his team and have the help of the PM and CP too...
We are analysing the situation currently, and for now the invisible hand of the market is handleing the situation... :-)

ThomasRED wrote:He is not alone in his team and have the help of the PM and CP too...
We are analysing the situation currently, and for now the invisible hand of the market is handleing the situation... :-)

OMG, your a government that actually deals with problems, I wish the RL Australian government was like that.

Rowan Quigley wrote:

ThomasRED wrote:He is not alone in his team and have the help of the PM and CP too...
We are analysing the situation currently, and for now the invisible hand of the market is handleing the situation... :-)

OMG, your a government that actually deals with problems, I wish the RL Australian government was like that.

you do know that "We are analysing the situation currently, and for now the invisible hand of the market is handleing the situation" is a fancy way for saying: "we're doing jack s*** at the moment but if someone comes up with a bright idea we might try it"


tbh, there isn't much you can do atm. When Admins decided to give everyone free treasure maps (I got 16 maps ffs!!) they dumped so much gold in the market that the value will go down for at least another month (possibly 2)

All you can do now is sit back and wait for the next admin screwup.

Value of BEF has risen to 1BEF=0.021g

Glenn Wauters wrote:Value of BEF has risen to 1BEF=0.021g

I suppose thats good, it means the economy is getting stronger

we should print some money

Continuity would have been better, though...

Where is the 10000BEF? The BEF is going to get to high
There is max1000BEF left before it collapses

16 000 bef will be in the NBB within 4 minutes

next to that, bok get to work!

I will...

... as soon as eRep starts working again too

Done

Continuing stabilizing at 0.019 G.

bok, bef's going wild again

Blame the war.

Blame the system

still, not fun :'(

Agreed, it´s definitely not fun.

However, because of the war, everybody is buying BEF with their GOLD to buy food to fight (which is obviously good...). This causes a huge demand for BEF. I have put an offer of 4,000 BEF on the market yesterday, but it was sold in a very short time.

Now, we could print extra money, and keep the rate at 0.019 G. However, that will only cause harm in the long term. All the BEF is in the food companies. They will keep some in stock to pay wages, but eventually turn the BEF into GOLD (especially the foreign companies). There is a day or two delay in that, but after the war, the rates will drop.

If we print too much money now, if will cause that drop to be even larger, causing the BEF to crash out of control.

I could support a small amount of money to be printed, as the stock in NBB-BNB was slowly diminishing, but it should be higher than 20,000 BEF. In that case, the drop after the war will be less big, and any BEF offered at a low rate can be bought by NBB-BNB without creating unreasonable high stocks that will impact the economy, or spending all our national gold on buying back BEF.

But... we should do that also after the war. Why? Because I will have to move GOLD into the national accounts. However, with the possibility that ePoland conquers all of our regions (thanks to the new game mechanics), we would lose any of the GOLD or BEF printed in our state accounts. Therefore, I suggest to let the rate naturally go up now and down after the war; and act as soon as peace has been established with ePoland.

That said: could any congress member make sure to propose the biggest amount (either GOLD or BEF) to be donated from the national accounts to NBB-BNB?

PS: Will publish this in an article later today.