[#Monies5lyfe]First report-ish thing, TL;DR and helpful Gdoc at bottom
Day 2,183, 09:21
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Published in United Kingdom 
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by Bank of England
ABBA is gr9
Yo7 amigos and amigas, Butjam here with a rather belated intro to the MoF. As anybody who has held the role can attest, the changeover is arduous, tedious and long...us. Anyway, our beloved MWC has cracked into the accounts and instructed me to keep the population entertained with numbers whilst he scarpers off with the loot.
Proof that we've not sat about doing absolutely nothing
In terms of MoF flavour I'm a little different from Emergy in that I hold sacred beliefs of "Ugh, effort for graphics?" and "There's probably only 5 people actually reading this". I'll keep you all updated through reports, but I'd much rather you got yourself acquainted with my lovely public data instead so you don't have to keep waiting on me. Another way we differ is engineering pedance, I prefer to work in true cc and gold values, which means when I give the state of our affairs I'm totalling up every asset and converting the full value to one or the other. If anything, we just look like we have more money!
Who doesn't like to pretend to be financially healthy?
Down to the actual business then, listing what I'm going to do during however long this tenure lasts....
Track money
The obvious and easy part of the role, look after money and let the public know what's going down. Now that I've got access to all the orgs and whatnot and the public sheet has been setup (Once again, here) you'll be kept up to date with expenditure, total value and, after I enlist some minion power, a daily tax revenue.
Make some money
The less easy part... this will be accomplished the same way money is usually made by the Ministry, passive trading on the monetary market. We make use of the Government orgs, special accounts that have no gold buying limit, to turn a profit for us. We list a few thousand cc on an org, offering to buy gold at a rate of 0.005 gold per pound, or £200 per gold bar. As you can see, gold itself is at around £209 per at the moment, so every bar is £9 profit. This isn't much but if done right it can add up. As well as this, the country makes money through taxes on working and the market, as well as a voluntary tax on Dastardly banking. Dastardly banking is headed by Iain Keers, a well known and trusted eUK'er. In exchange for access to a group of org accounts, money from Keers and other investors (including myself) is used to earn money from the monetary market and the eUK receives 25% of all profit. This benefits us as we don't have the funding to run those orgs ourselves. My role is to advise congress, cabinet and the CP how to efficiently spend our money at a rate less than all this income.
A slight break before my 'big idea'
The big idea
Finally, the element that I want to bring to the MoF. I was considering this around the end of my last term in the role, unfortunately I left before I had chance to implement it. This might end up being a little long winded but I'll try and reign it in. The idea stems from the slight changes that occur in the monetary market which I attribute to the following factors
>Player base awake
>Gold offers
>Upgrade offers
>Training contract refresh
All of these can increase or decrease the demand for purchased gold. A change in demand can mean a very small change in price, perhaps only 0.1cc per gold. Own enough gold however and you can start to generate larger amounts. The key is knowing when to do it. I've seen comments and discussions from people about this before who make it sound like wizardry, or that you sit there with complex algorithms to determine how best to take advantage of it. I'm gonna' go right out now and say that's all ridiculous, the only thing you need is data.
My idea is not to start short selling this term, nowhere near that. Although we are protected by the huge volume of gold in country treasuries keeping the price stable at more than £200, that's still a risk of £9 per gold. To go in blind would be daft, for every gold bar you put up you're risking £9 for a £1 profit and I'm unwilling to do that with the country finances. What I do want to do is take a long term approach to our future, to begin the groundwork now so that early 2014 this is a viable money making venture. I'm not going to get your hopes up, this could go nowhere and I'll look like a right arse... but if we had anything better to do, we wouldn't be on erep, would we?
The first stage is through the collection of data. Half hourly price points of the monetary market, collected all around the clock for a decent period of time. This will give us an idea of expected fluctuations throughout the day and week. By extending this period over weeks, hopefully months, we can start to predict patterns during offers and tournaments, effectively reducing risk. The problem is collecting the data. With help from other members of cabinet, we're looking at creating a tool to gather this data automatically for us. This relies on a number of factors however and ends up being a lot more complex than it might appear, including the need for a computer running 24/7. If you feel like you can provide any help on this front your help would be more than appreciated so I'd ask you to drop me a message. In the Ministry itself, we've been working on a method to effectively crowdsource people to collect the data for us, should the automated option fall through, in exchange for a small amount of currency each time. As I will fully admit that this is a long shot, I am perfectly happy to front the currency myself. Expect to hear more on this system soon as I may decide to bring it in up until the establishment of an automatic system.
Well, thanks for sticking through this if you did, if not....
TL
>Butjam will look after money
>Butjam will try and increase the amount of money
>Butjam will take on a long shot optimistic project that will probably die in the water
As of writing this I value our total assets at a nice and healthy £2171209.67 and you can find all the reasoning behind that here!
Lots of love,
Butjam and the Ministry of Finance
Bonus image:
7000 fireworks all set off at the same time... describe your sex life in one gif Butjam
Yo7 amigos and amigas, Butjam here with a rather belated intro to the MoF. As anybody who has held the role can attest, the changeover is arduous, tedious and long...us. Anyway, our beloved MWC has cracked into the accounts and instructed me to keep the population entertained with numbers whilst he scarpers off with the loot.
Proof that we've not sat about doing absolutely nothing
In terms of MoF flavour I'm a little different from Emergy in that I hold sacred beliefs of "Ugh, effort for graphics?" and "There's probably only 5 people actually reading this". I'll keep you all updated through reports, but I'd much rather you got yourself acquainted with my lovely public data instead so you don't have to keep waiting on me. Another way we differ is engineering pedance, I prefer to work in true cc and gold values, which means when I give the state of our affairs I'm totalling up every asset and converting the full value to one or the other. If anything, we just look like we have more money!
Who doesn't like to pretend to be financially healthy?
Down to the actual business then, listing what I'm going to do during however long this tenure lasts....
Track money
The obvious and easy part of the role, look after money and let the public know what's going down. Now that I've got access to all the orgs and whatnot and the public sheet has been setup (Once again, here) you'll be kept up to date with expenditure, total value and, after I enlist some minion power, a daily tax revenue.
Make some money
The less easy part... this will be accomplished the same way money is usually made by the Ministry, passive trading on the monetary market. We make use of the Government orgs, special accounts that have no gold buying limit, to turn a profit for us. We list a few thousand cc on an org, offering to buy gold at a rate of 0.005 gold per pound, or £200 per gold bar. As you can see, gold itself is at around £209 per at the moment, so every bar is £9 profit. This isn't much but if done right it can add up. As well as this, the country makes money through taxes on working and the market, as well as a voluntary tax on Dastardly banking. Dastardly banking is headed by Iain Keers, a well known and trusted eUK'er. In exchange for access to a group of org accounts, money from Keers and other investors (including myself) is used to earn money from the monetary market and the eUK receives 25% of all profit. This benefits us as we don't have the funding to run those orgs ourselves. My role is to advise congress, cabinet and the CP how to efficiently spend our money at a rate less than all this income.
A slight break before my 'big idea'
The big idea
Finally, the element that I want to bring to the MoF. I was considering this around the end of my last term in the role, unfortunately I left before I had chance to implement it. This might end up being a little long winded but I'll try and reign it in. The idea stems from the slight changes that occur in the monetary market which I attribute to the following factors
>Player base awake
>Gold offers
>Upgrade offers
>Training contract refresh
All of these can increase or decrease the demand for purchased gold. A change in demand can mean a very small change in price, perhaps only 0.1cc per gold. Own enough gold however and you can start to generate larger amounts. The key is knowing when to do it. I've seen comments and discussions from people about this before who make it sound like wizardry, or that you sit there with complex algorithms to determine how best to take advantage of it. I'm gonna' go right out now and say that's all ridiculous, the only thing you need is data.
My idea is not to start short selling this term, nowhere near that. Although we are protected by the huge volume of gold in country treasuries keeping the price stable at more than £200, that's still a risk of £9 per gold. To go in blind would be daft, for every gold bar you put up you're risking £9 for a £1 profit and I'm unwilling to do that with the country finances. What I do want to do is take a long term approach to our future, to begin the groundwork now so that early 2014 this is a viable money making venture. I'm not going to get your hopes up, this could go nowhere and I'll look like a right arse... but if we had anything better to do, we wouldn't be on erep, would we?
The first stage is through the collection of data. Half hourly price points of the monetary market, collected all around the clock for a decent period of time. This will give us an idea of expected fluctuations throughout the day and week. By extending this period over weeks, hopefully months, we can start to predict patterns during offers and tournaments, effectively reducing risk. The problem is collecting the data. With help from other members of cabinet, we're looking at creating a tool to gather this data automatically for us. This relies on a number of factors however and ends up being a lot more complex than it might appear, including the need for a computer running 24/7. If you feel like you can provide any help on this front your help would be more than appreciated so I'd ask you to drop me a message. In the Ministry itself, we've been working on a method to effectively crowdsource people to collect the data for us, should the automated option fall through, in exchange for a small amount of currency each time. As I will fully admit that this is a long shot, I am perfectly happy to front the currency myself. Expect to hear more on this system soon as I may decide to bring it in up until the establishment of an automatic system.
Well, thanks for sticking through this if you did, if not....
TL
😉R
>Butjam will look after money
>Butjam will try and increase the amount of money
>Butjam will take on a long shot optimistic project that will probably die in the water
As of writing this I value our total assets at a nice and healthy £2171209.67 and you can find all the reasoning behind that here!
Lots of love,
Butjam and the Ministry of Finance
Bonus image:
7000 fireworks all set off at the same time... describe your sex life in one gif Butjam
💔
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Side note! After all the hullabaloo about a big chunk of money going missing, judging y the huge increased valuation I gave compared to Emergy, I think there's a good chance no money was actually stolen. Either that, or we made £700k in 6 days. Not sure which one I'd rather believe...
I will be keeping a close eye on you 😉
Good work
Can I make 1 small point , the country has 2 million , what about funding the NHS ? as it is part of the government , or like the BEP states remove the NHS from government !
Thanks
The country has a value of 2 million, it doesn't have it. In terms of liquid assets, it has closer to the 1.4 million Emergy stated. The problem with the NHS is that it is an insanely costly scheme which is why it's financed by public donations. As far as I'm concerned, it doesn't matter whether the scheme is Government run or privately run, they will always have access to an org. If we somehow started making windfalls of cash they'd be an excellent investment but the drains from MPP and war are quite considerable
>> hullabaloo about a big chunk of money going missing
Why is this the first time I am hearing of this?
After my term, Boatsandhoes took over for a month. He made a claim that hundreds of thousands had gone missing because his sum value was way less than mine. I just assumed Woldy had gone war mad and spent lots in the USA conquest but it looks like it was simply a difference in calculating the value. I believe you and BaH tallied up the currency amount, whereas I've added up the currency and then the gold into it too, about 4.1k of it which obviously boosts the value!
http://www.erepublik.com/en/article/theft-corruption-and-the-truth--2288102/1/20
His article claiming about £569k had gone walkies
Ah okay, I remember that article. I thought you were talking about something recent that had occurred (i.e. something during my terms as MoF)
I can't say how much we had at the time of that article, I don't tract accounts when I'm not MoF. I know that I verified the figures against Carlini's numbers when I took the job (he was the MoF prior to me) and we actually had slightly more than he had reported.
There's always slight discrepancies, they just get exaggerated when people change how they tally them. After returning the money to the Royal navy I have a currency value of around 1.3 million so I think we've come through alright!
Also, yay for new MoF! \o/
Looking forward to moar!
I don't get why you didn't just carry on with emergy's gdoc? This is what happened last time, no consistency + false valuations based of gold prices = accusations.
I wasn't given a gdoc, that's why! Plus, it's always better to go through and organise something yourself, it gives you an idea of what is where and forces you to do a tour and account of assets, rather than just relying on the word of the previous minister. If you check the gdoc you can see I've manually added each value from every org so I'm sure of our total. Hope that answers your question
Well couldn't you just ask him for it? Wouldn't it be better if every MoF used the same sheet (all you'd have to do is check the values we're accurate) there'd be no hand over issues, no messing around asking people what stuff ment. It'd also be very easy to compare MoF's performances to.
Already, if someone took over from you today they'd be asking what 'Owed -82576.74' means.
Everybody has their own preferences, I prefer to sort stuff out on my own but if the person who follows me would like me to transfer ownership I'm more than happy, provided they agree to verify each value.
Owed is simply the money we're holding onto for people in case you were wondering, I didn't bother expanding on it yet as it's just Jamesw's at the moment
I gave mwc access (w/ add permissions) to the MoF spreadsheet the day he was elected. As soon as he logged in, I made him owner of the sheet.
I agree with you though on the organizing something yourself, if the goal is to keep track of everything in the most precise manner possible, sometimes the only way to do it is to create the data in a way that makes sense to you.
If everyone worked off the same sheet and people who wanted to be MoF worked in the department prior to applying to understand how it worked there would never be any issues over missing money/handovers etc. We'd also have months of consistent historical data and a way to measure the success or failings of Ministers.
Butjam, if you want to verify your numbers against my last report, count all the currency we have in the Orgs, Country Accounts, and outstanding loans and you'll have the total I used. Just make sure you don't count JW's private funds as belonging to the Government.
I didn't count the 4K Gold in with the currency figures because I didn't want to assign a currency value for gold. Gold is gold and I didn't want fluctuations in currency prices altering the week-to-week numbers.
question: are you collecting data on passive deal profits like:
org - amount of money in passiveoffer - amount sold - generated profit (depending on MMrate)?
"slight changes that occur in the monetary market which I attribute to the following factors
>Player base awake
>Gold offers
>Upgrade offers
>Training contract refresh"
with changes on MM you have 3different
1. i think the changes every other minute like now MM is at 1g:209.8cc but some people post at 209.0 or even at 208.0 is due to people not caring or just being not smart or they just want to sell quick. however orgs dealing active on market often buy these offers quite quick.
2. longer changes for like 10minutes or some hours are made by big offers that block other sellers and then they go for a race down. sometimes you have orgs dropping 1000-3000gold at once. some are fully aware that they will block the market and market will move down and the main reason they do so is to generate cheaper gold they then buy. some just want to quickly get much gold changed to money (because of DO or sth) but there are not enough buyers + dealing ogs block their offer on purpose in order to get them to make it even cheaper. however you have some times when there is like literaly nobody on market and then even low offers with 200-300gold can block the market
example MM is at 1g:209.2 and people just post lowest at 1:209,0
every gold you buy and sell only generates 0.20cc profit
so some just post 1000gold at 208.99 and block it everyone who wants to sell gold either has to buy the full 1000gold then he can again sell at 209.2 or they just post lower than 208.99 (most people will do the 2nd)
so many will post at 208.7 and still many just go for the 208,0 because they are lazy
->profit is much bigger
or someone at MM 1g:209.2cc wants to sell 500g at 1g:209.0
you would like to buy it but maybe you can get it cheaper (=more profit
drop 300g at 208.99cc and always refresh to full 300gold when sth is bought
it will show the seller that he will have to wait all day to sell his stuff and bring him to post it chepaer than your offer
however if you pull these stunts and drive the MM a bit lower step by step you sometimes get your offer and all other offers bought by some big guys pulling thousands of gold and multiple 100kcurrency in their account. and sometimes they will buy all offers up from 1g:209cc to 1g:211cc
doesn't happen often but sometimes
sometimes more crazier stuff happens
see my comment
eisenmutter2 Day 2,118, 19:00
here http://www.erepublik.com/en/article/budget-report-august-2013-2315853/1/20
and then you have the
3. movement because of special events that then move the MM multiple cc down or up (i would call these macro movements and the once before micro movements)
the big MUtournament with state and individual prices made people spend much money and the MM droped from 225 to then later 215 and 210
however the weekly tournament we have now only keeps the MM where it already is - so it is not every tournament only the one that brings goldbuyer to drop much more gold on the market than usually
to bet on these big movements is very risky especially if much money is involved and you are a private dealer who has to leave the org and get all the money transfered out on the end of the month. so if you buy 1000gold at 1g:208cc because you think MM will go up to 209 or even 210 but then admins make a big special event and MM instead goes down to 205 you lose 3cc per gold when you have to clear the org and cange everything to currency (would be 3000cc in the example of 1000gold).
states have all time of the world so maybe they can wait to MM going back. however adminchages of the game could make this impossible and at the moment we have a trend of the MM down so if you buy at the high end it could happen that after an event when MM gone down it will not go up as high as it was before.
so i think holding on to money to trade it for profit some days later on macromovements is very risky. however if you have like 1000g and 0cc trade whith 100-300g you changed to currency, make profit but then before you logout you trade back the 100-300g worth of currency before you logout, then you have your 1000g you would have anyway + the extra currency from profits. in the 30minutes/hour you traded not much can happen that so much surprises you that you lose a big part of the profits or even parts of the money you started with...
DO YOU NEVER SHUT UP?
.
no because i think only posting comments like
- first
- voted
- nice
- pole
- you are [insert insult]
- o/
- your mother is a [insert insult]
...
doesn't really help people. nobody has to read what i write, i only share my experience for people who may want to try it too or give me their experience. ilisten to advice of people who have experience or to people with opinions on stuff i don't know nothing about and keep it in my head while acting/trying to see if it is true. however i don't really listen to people who want me to shut up only because my experience doesn't fit their mere opinion (still reading the comments of course).
the reaction from Iain Keers on active dealing was the same i got with company dealing.
"that's stup1d" / "doesn't work" etc
before i had a list & admins made upgrade offer every week i even sold some q3companies, today only q1
so after the claims of others that nobody buys companies i started to keep a sheet since day 1658 http://tinyurl.com/ootnd6d
well nowadays with every other day upgrade offers of course only q1-companies get sold (and finding a cheap q1company at 9.00g doesn't happen everyday) but it is still a little profit - gold i can use for training, gold that i get for doing not much.
you don't have to do what i do. but many people don't do anything and then complain why they don't have money - i couldn't care less on these peoples opinion on how much i should shut up even if they write in all caps
On the spreadsheet, you have Department for Munitions listed as having 73.86g and 0.14cc.
It should be the other way around. There is 0.14g and 73.86cc in that org.
erepublik.com/en/economy/citizen-accounts/2084929
Oops, ta, Emergy, I always list cc first but it shows gold first on accoutn pages
Numbers and stuff o7
Money 🙂
http://www.youtube.com/watch?v=fMPD2LrB_4M