?

Do you want this system added to our current money system in ECC?

  1. Yes

    2 vote(s)
    5.6%

  2. No, its not right

    28 vote(s)
    77.8%

  3. I don't understand

    6 vote(s)
    16.7%
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  1. JazzBeam Builder
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    I want the ability to be able spawn in virtual Ecodollars to create money out of thin air. The banking system in real life has this ability as well, to create credit. For example, if a bank has no deposits yet and used up its capital reserves, and a man comes up to it and wants to get a 30k loan to buy a car, the bank realizes it has no money to lend out, but there is a simple and routinely solution to this problem, create credit out of thin air. They give the man some papers, and the man goes to the car dealer to buy the car, the bank then types in 30k into the car dealer's bank account, without having to have the 30k already in their hands, they just type it. Then, the man who bought the car, will work hard and repay the bank 31,500. So the bank can collect 1,5k worth of income even when it still doesn't have the valued money in their hands. We needed to have this system in real life or else we would not have digital money, or credit cards, debit cards, and no extremely limited amount of money to be able to loan out. Or else business and commerce would expand and grow slowly.

    So, what I want to be able to do, is spawn ECD out of thin air and loan it out, and people taking out the loan have to repay it back, so the ECD still has value and worth after it is payed back. So that the amount of money able to be loaned out is not limited by the amount of deposits.
     
    #1 JazzBeam, Nov 28, 2013

  2. Vintage_Gamer Builder
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    This is a terrible idea....... It would ruin the economy.......
     
    #2 Vintage_Gamer, Nov 28, 2013

  3. JazzBeam Builder
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    Why would it ruin the economy, it will help it grow.
     
    #3 JazzBeam, Nov 28, 2013

  4. Vintage_Gamer Builder
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    Because if you can just 'spawn in" money into the economy just like that. Think about the amount of players who would do this to get money? And plus i dont think andrew would allow players to just add money into the economy like that.
     
    #4 Vintage_Gamer, Nov 28, 2013

  5. Vintage_Gamer Builder
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    This idea can be used between players.

    Player A gets a loan from Player B (who has more money)

    Player B gives Player A the money and wants an extra 5k on return of the pay (or something along those lines) there is no need to spawn money into the economy like that when it can be done between players in game.
     
    #5 Vintage_Gamer, Nov 28, 2013

  6. JazzBeam Builder
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    How about he only lets me spawn in the money so that other players can't just spawn in money and spend it and the money becomes worthless.
     
    #6 JazzBeam, Nov 28, 2013

  7. JazzBeam Builder
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    You don't understand it, go read books about banks creating money out of thin air and books about economics and the monetary system.
     
    #7 JazzBeam, Nov 28, 2013

  8. SnDxCH4RG3R |Technical Tycoon|
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    I think dork1877 would have some opinions on this...
     
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    #8 SnDxCH4RG3R, Nov 28, 2013

  9. JazzBeam Builder
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    hehe, We Summon Dork1877
     
    #9 JazzBeam, Nov 28, 2013

  10. SnDxCH4RG3R |Technical Tycoon|
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    Indeed. Now we wait.
     
    #10 SnDxCH4RG3R, Nov 28, 2013

  11. JazzBeam Builder
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    ahhh . . . yes indubitably.

    Would you be happy for some tea?
     
    #11 JazzBeam, Nov 28, 2013

  12. SnDxCH4RG3R |Technical Tycoon|
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    Quite.
     
    #12 SnDxCH4RG3R, Nov 28, 2013

  13. JazzBeam Builder
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    Would you like some muffins with that as well?

    The cinnamon and butter ones made me gain 340 pounds in the last five minutes.
     
    #13 JazzBeam, Nov 28, 2013

  14. SnDxCH4RG3R |Technical Tycoon|
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    Done.
     
    #14 SnDxCH4RG3R, Nov 28, 2013

  15. steveshizzle Resident
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    Yes let's let a 12 year old resident practically control the entire economy and well-being of the server. Brilliant.
     
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    #15 steveshizzle, Nov 28, 2013

  16. RealNick123 Builder
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    The real life monetary system does not work like how you described in the USA. I assume you are talking about the US monetary system because you are from Illinois. The bank does not create credit out of thin air, they either get loans from other banks, or from the federal government. The only entity that has enough power to create money out of thin air is the United States Federal Government, though since 1972, the US currency has had no physical backing of the dollar, meaning they cant print money to the sky. Getting back to the point, First of all, This server does not need this. Second, stop trying to connect the ECC economy to the US economy, I have seen your previous ideas and they all are relating the US economy to the ECC economy, besides, the US economy is far more complex then the ECC economy, meaning you cannot apply the same system to ECC. Plus, to state again, the US banking system does not create credit out of thin air. Oh, and plus, even if all of this is false(which it isn't) I would never trust a server which I have donated over $800 to a 12 year old kid, who although knows a little about the US economy, and economics in general, does not know enough, nor do you have enough maturity, and time. That is all.

    dork1877, I saved you a paragraph of typing...
     
    #16 RealNick123, Nov 28, 2013
    Last edited: Nov 28, 2013

  17. dork1877 Builder
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    RealNick hit the key points really

    Money doesn't just created out of thin air some billy-joe whatshisface goes down to the local used ford dealer to pay twice what the kelly bluebook value of the overprice behemoth of a truck. Even if it comes with a free pair of trucknuts. The bank gets the money from someone, somewhere.

    herp
    uh
    derp

    Secondly, why the hell would you or anyone else on this server be given this kid of ability? Can you imagine what would happen on an econ server if everyone could just pull billions out of their proverbial butts? That's not an economy server, that's a Sub-Saharan African dictatorship's economy.

    really the response to this "suggestion" can be summed up very precisely and acutely with one meme

     
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    #17 dork1877, Nov 28, 2013

  18. JazzBeam Builder
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    Alright, what else do I not know about the US economy that you think I should know?
     
    #18 JazzBeam, Nov 28, 2013

  19. JazzBeam Builder
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    I guess my age was an important factor. You know, if I was a 40 yr old Wall Street businessman instead in this scenario I bet you guys responses would be much more different. Lol
     
    #19 JazzBeam, Nov 28, 2013

  20. dork1877 Builder
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    what you dont know about the us economy could fill an ocean
     
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    #20 dork1877, Nov 28, 2013
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