On Thu, Jun 12, 2008 at 12:03 AM, Nick Vanderweit <[EMAIL PROTECTED]> wrote: > I actually rather like this Bank idea. So, if Alice and Bob deposit 3G > each, and then Carol makes change for 2Y with a 1% fee, then she may > request 19O and 8R, and the remaining 2R would go to Alice and Bob, > with each receiving 1R off of the transaction.
Exactly. And Carol would be compelled to make change if she needed, say, 17O5R for something and didn't have the right set of coinage to use "exact change". I wouldn't propose it with a set of currency in which each coin was 10x the previous coin, as I'd prefer a system closer to actual coinage where each coin is between 2 and 5 times the value of the previous one. > *However*, I don't see > how this would stimulate the economy. It seems like people would just > put all of their money in banks and try not to spend it so that it > would grow, and, while in the real world banks serve to give loans for > higher interest than they pay for a savings account, I'm not sure that > would work out here. It's possible it could work, and I've tried to think of ways to try to structure it to work. But as I said, I believe the problem with the economy is that there isn't one. There aren't really any goods to buy and sell, no services to trade, etc, and no markets in anything. That's not entirely true: there does seem to be a busy exchange of lands, mills, and crops in the AAA, and there is occasional use of the Vote Market, and players are having fun with pens. But there's no unified market. Is this a "FIeld of Dreams" thing? Should we take it on faith that "if we build it, they will come"? If we solve the "no economy" problem and get a functioning bank as described above, adding a "loan officer" and a fractional reserve system will be easier. > > So, I'm torn between this and a simple numerical system with a > transfer tax. Thoughts? A transfer tax would discourage people from transferring currency. Where would that tax go? If it goes no where, it simply drains money from the economy. At least the seignorage fee would end up redistributed back into the economy, and is completely avoidable by proper handling of non-bank transactions. > > avpx >
