On Wed, Oct 22, 2008 at 12:32 PM, Alex Smith <[EMAIL PROTECTED]> wrote: > If the RBoA's exchange rate is much less than 10 times the PBA's > exchange rate, and it has none of that currency, people are very > unlikely to deposit that currency in it, as they could have deposited in > the PBA instead for more wealth. Therefore, such exchange rates do not > affect the true value of Chits.
If you can't get those currencies with chits, then chits are less valuable. Perhaps that just means those rates need to be raised to match the PBA's rates, but frankly the PBA's rates in those currencies too high to be worth trading for, and they don't seem to be headed down very fast. Besides, you're missing that part of the point of flushing the RBoA's coins is not to correct things, but to engineer a counter-run against the PBA's assets. -root
