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OOC post: Does anyone know how to do the Country Data template stuff on iiwiki? I'm struggling with figuring this out.
Also, 
Latvia and Saaremaa here's how money works, super basically:
How much money does your nation make? Let's say you print off 10 dollars a year, while 10 ACU is printed a year. That means that your money is worth 1 ACU since it's equal.
Now, let's account for something. Is that 10 dollars actually worth anything? let's say you don't import or export anything: That money has a fixed value and will never change.
If you import and export, the money will inflate or deflate depending on how you do it. It's a mess, but believe me: the "gold standard" isn't a thing anymore. Your money's value is compared to the ACU, not to 1 pound of gold. It's a mess but I can explain it in a lot more detail but it's a mess and in all reality, you should probably just make it either 0.80 or 1.20 or 1.50. Something around that mark is fairly realistic.
Oh also, your monetary increments help determine this. Japan has Yen in the 1000s, but that doesn't mean that 1 yen = 1 dollar. If you haven't taken a class on micro/macro economics, I highly advise you do - economics is a hard subject to learn. While learning the actual math isn't as helpful, knowing "economic philosophy" is.
What if your currency is literally gold? does gold have a fixed rate worldwide? do i have to treat Nicersdahian gold as different from the universal conversion rate, or should they be the same?
We don't need as many coins if they're made of a more valuable material
Edit 1: I know about inflation
Anybody know about the 1946 hyperinflation of Hungary?
It used to, hence the gold standard. it's since changed.
It is the currency used in Nicersdah now tho, could you direct me to a place i could study how that could work
That is literally not how modern money works. Coins are specifically NOT made of gold anymore, because gold is expensive. why do you think americans make coins out of copper and nickel? They're relatively cheap and so you can assign them a value, higher than what they actually are.
Hadian and Wellsenfaile
It's a fairly complex topic, but if you were using pure gold for currency, that actually would be less valuable. Gold has modern uses like in wires and electronics, which you can sell for more. Most currencies are either made out of linen or polymer plastics (banknotes) or copper and nickel (coins.)
As a good rule of thumb, 1 gram of gold is worth roughly 50 dollars. Gold is stupid expensive. You wouldn't want it being used for coins: you want it in electronics after being melted down and infused into wires.
Uh huh, so should we start transitioning the currency? because im sure that the president would have used gold, and ig now we're transitioning to ACU as the regular currency
Yeah it was probably used before because they wanted something the president could just get from the earth at any second, and now that the president is gone, we are transitioning to a different currency, should we do ACU tho or our own?
Actually, nevermind, i got an answer for the new currency, thanks for the advice!
Despite the value of coins was determined by the amount of precious metals they contained or were interchangeable by in the past, nowadays the most prevalent monetary system is based on fiat currencies whose value is founded by public trust and their designation as valid money on behalf of political authorities. Therefore, your money would be more valuable than average not because it exhibits more gold than other currencies, but because it is partially or totally formed by gold, making it commodity money whose value is "protected" by a material that is valuable per se and partially immune to unchecked monetary emissions with inflationary effects. With that being said, the value of your currency in particular would still be dependant on the amount of gold it contains or can be exchanged by (via the gold standard), and a small proportion could render it less worthy to foreign ones.
Agarntrop, Foxomexra, and The empire of veritia
bonjour it is mwah
OOC: The AFC Ani Lon is about 2.11 ACU (2.11 USD), and I'm almost 100% sure thats one of the most in the region.
Within Nicersdah, the 3 largest private banks have created 3 different currencies within Nicersdah, all backed by the gold standard of Nicersdah:
The Rengali is worth about 1/60th a gram of gold, and is by far the strongest currency in Nicersdah
The Ersdai is worth about 1/350th a gram of gold
And finally, the weakest, least common currency, the Asri, is worth about 1/4000th of a gram of gold, meaning 1 gram of gold is worth about 4000 Asri
- | IRN - Isshiki Revolutionary Network |
_______________________________________
( Regional Politics - " Criticism from the inside ")
_______________________________________
| 3th, March, 2 - " The Kohei Ibuki Speech" |
- _____________________________
- | When the old government collapsed, the ruling politicians cowardly took it upon themselves to escape from our nation and evade their responsibilities for the disastrous situation. It was then that the revolution took place in Isshiki, however, the groups that now form our broad center-left coalition are not all the opposition political groups that chose to stay after the anarchy. |
| This is the case of the already old Kohei Ibuki, retired politician who was in more than one government between the 80s and 90s, which has dedicated to investing his small fortune in the construction of a public radio and website in which he postulates his ideas together with another group of geezers. While ancient and certainly retrograde even for his time, the ideas of the former finance minister seem to be resounding deeply in the influential minds of our youth. |
| While the ability of Ibuki is certainly good, the revolutionary government is concerned that its anti-revolutionary ideas are finding ears to listen. Among his ideas of classical capitalism, moralism and social moderation, stands out that of the return to a classical representative democracy, and the supposed future corruption of the current system |
| The last straw was today, when he dared to give a public speech in Shizukesa Square in front of hundreds of people, criticizing the government and its eternal rivalry with the army. The voices among the Senate are already making themselves heard, and they ask for the head of the politician who shakes the minds of the revolution. |
Most countries use "fiat" money instead of comparing to the gold standard. Basically, a government assigns a money a value, and then that value is compared to its actual value, which is regulated by the ACU. basically, treat the ACU as your "gold standard." Does that make sense? For simplicity, most people use 1/500 = 1 ACU which is fairly complex, and the math gets complicated. Instead of getting bogged down in the numbers, I'd reccomend studying some of teh economics philosophy. There are some books about it online,
https://www.google.com/shopping/product/3096130697892669379?q=micro+macro+economics&sxsrf=ALeKk02vo6svEkTKSuvXvFicE48B6RUVRg:1614818937059&biw=1280&bih=578&dpr=1.5&safe=active&prds=eto:2822163758651101962_0&sa=X&ved=0ahUKEwie_KeqtZXvAhVvdt8KHf2kCjsQ8wII2gQ
It's fairly sizable and is really more of a school textbook - if you aren't in 10/11 year yet, most countries teach you in one of those two years.
Lopandia's Flag Revamp
Recently, Leader Ar'un has enacted the use of a new flag. This new flag incorporates variations of all the colors found in Lopandia's original flag, as well as the addition of the color pink, meant to stand for "love," as stated by Ar'un's press secretary this evening.
Residents of Lopandia are encouraged to take down their old flags, now known as the Old Lopandia Flag, and replace it with the New Lopandia Flag. Every public facility currently flying an Old Lopandia Flag will receive a New Lopandia Flag of the same dimensions in the mail within the next few weeks.
San Calia and The krenya
drew pcok
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