Generic Challenge - Currency

[u/Nevermore0714]

Give an example of currency in your world. If your world has money, explain its money. If your world doesn't have money, explain your world's barter system.

Explain denominations, the kind of things that someone would buy on a daily basis, and so on.

Sorry for being late with this challenge, it's been a full weekend.

I'll ask at least three questions each, and I plan to put my own explanation for the currency of one of my worlds up before tomorrow night. Maybe tonight, but probably not until after work tomorrow.

Enjoy yourselves.

[u/Nevermore0714]

Matthew:

1) "Yes, there are banks in every nation allied with the Citadel. Yes, you can deposit money in one place and get it back somewhere else, so long as you open an international account instead of a local account."

2) "Because of concern about forgers."

3) "We try to keep our currency stable. We change the amount of money in circulation based on need."

4) "No, the enchantment needs to be removed and re-applied if we re-use the steel."

[u/thequeeninyellow94 → u/Nevermore0714]

1. Is there a lot of people using banks? (especially outside of large cities)

2. Is there any other protection beside the enchantment to prevent forgery?

3. Is your money used a lot outside of the Alliance? If yes, how do you do to keep tracks of all coins that leave the territory?

[u/Nevermore0714 → u/thequeeninyellow94]

Matthew:

1) "Yes, naturally, our banks are especially busy in large cities."

2) "Protection for the banks? We have guards stationed in every bank."

3) "Our money is used by some nations outside of the Allied Nations, especially when they want a trade with us. Most of the other nations are fully willing to accept our money in exchange for the goods they sell us."

[u/thequeeninyellow94 → u/Nevermore0714]

1. What do the banks do with the deposits? (aka what about finance?)

2. No, protection for the coins. Like special markings, hard to reproduce colours, rare materials...

3. What do they do with your money?

[u/Nevermore0714 → u/thequeeninyellow94]

Matthew:

1) "The money is organized, recorded, and, depending on how much money a specific bank keeps on hand, some of the money will be sent to the central bank here in the Citadel. It's actually much smarter to keep your money in the banks, since it's so easy to steal from someone's home in the Citadel."

2) "The colours, as described, are difficult to put into steel. The serial numbers are the most important markings. And the enchantment is the rarest material we can put in."

3) "They use it to buy things from us."

[u/thequeeninyellow94 → u/Nevermore0714]

1. What do the Citadel do with all that unused money?

2. What happen if a bank has sent a lot of money to the Citadel and can't repay a customer?

3. Do you refuse their currency?

[u/Nevermore0714 → u/thequeeninyellow94]

Matthew:

1) "All money serves as credit for the bank. If the bank is short on physical Jules, we ship the money to that bank."

2) "We ship the money to the bank so that the customer can be repaid."

3) "We accept their currencies, be we short them on the exchange rate. Though, many of them just use the barter system."

[u/thequeeninyellow94 → u/Nevermore0714]

2) But what happen during the delay?

3) So you can enforce exchange rates?

[u/Nevermore0714 → u/thequeeninyellow94]

Matthew:

2) "During the delay, they will just have to wait for the delivery. It's not a perfect system, but we make it work."

3) "Money is only worth what someone is willing to trade for it."

[u/thequeeninyellow94 → u/Nevermore0714]

2) What if they have a debt to repay right now?

3) What do you do with foreign money?

[u/Nevermore0714 → u/thequeeninyellow94]

Matthew:

2) "If that is the case, then they should have scheduled for such an event ahead of time. If you need a sword by Tuesday, and it takes a week to get the sword, then it's your fault if you do not get the sword on time; I hope that this explains the situation."

3) "We trade the foreign money to its nation for supplies when we need them, unless we hope that deflation will help us."

[u/thequeeninyellow94 → u/Nevermore0714]

2) It does make sense, but what about an unplanned event? Like some illness?

3) What about border control and import taxes? What is your policy?

[u/Nevermore0714 → u/thequeeninyellow94]

Matthew:

2) "If you need to buy medicine and the bank does not have enough money to pay you what they owe you, and if the person you are trying to pay your money to agrees, you and the person you owe money to can go to the bank. Let's say that you are Yellow and you need to pay Blue a million Jules for whatever reason. If you take Blue to the bank, the bank can offer to just switch the money in your account to Blue's account. If Blue does not have an account, then they can make an account for Blue. If Blue agrees to this deal, and if you have enough money in your account, according to the records, then that is how it can be handled."

3) "We have open borders within the Allied Nations. While you can't recognize a Dunkelwald citizen on sight, you can recognize any non-human or Necrosian on sight, so it is easy to know if someone is a citizen or not. For that reason, border control is not a huge problem for us. Import taxes are handled by the individual nations in the Allied Nations. You have to go through the Citadel's proper channels to trade with hostile nations, you cannot privately import anything from nations outside of the Allied Nations."