Econ Changes day 1568

Day 1,568, 20:29 • Published in USA USA • by Evry

Hello America!

For those who don't know me, I'm the current Chairman of the Economic Council and a Congressional Budget Office Director. I've been the Secretary of the Treasury a few times in the past. I'm also currently the Secretary of State (MoFA to all you foreigners out there). I've been a congressman, Secretary of Defense, Chief of Staff, and held various military and lesser executive roles.

Today Admin introduced new economic changes to the game. I've seen a whole lot of people be confused or not fully understand what exactly happened so I'm going to try to explain it as thoroughly as possible.

The first thing to understand is that there are no longer 50-60 different currencies. There are 2 monetary entities currently. There is gold, and "currency". In the past, "currency" could refer to up to 50-60 different currencies (USD, CNY, PLN, ESP, MEX, etc. etc. etc.). However, now there is just one currency shared between ALL countries. For the sake of simplicity, I'm going to name this currency as NC (New Currency).

Now you might be asking: But, my currency clearly says USD (or some other currency that happens to match your current citizenship)!

Correct. That's exactly what is happening. It's really the joint currency, NC, being labelled as the former currency of your citizenship country. I'd like to introduce a Real Life example.

The euro is a currency shared by a bunch of European countries. The currency has the same value throughout the area the euro is used, and there is no difference between euros made in France compared to euros made in Germany, Belgium, or Portugal, or any of the other euro countries except for one small difference. The only difference is what the money physically looks like:



Now you're probably wondering what this has to do with eRep and the latest econ change. Well, it's quite parallel with it actually. The currency in eRep is now a single currency (NC) being labelled as different from each other when they really aren't.

In the past if you worked for a foreign company you would receive foreign currency and have to convert it to a usable currency. Now, since all the currency is the same, there is no difference between the money being paid to you in wages versus the money you'll use to buy your food and weapons off your home marketplace. Donated money will count all the same regardless of where that person who is sending the cash is sending it from, and there are literally no differences between them except for their appearances.

Next topic: The Monetary Market. Some people have been confused about the Monetary Market (abbreviated as MM) since the changes. Before the change, the MM was split between the different currencies. If you were selling gold for USD, you weren't competing against Serbians selling Serbian dollars for gold, or Brozilians selling their currency for gold. Likewise in reverse. If you're selling gold for USD, you chose if you wanted USD, PLN, or PHP.

However, since the change, everything is combined. So, while you're trying to sell your gold for currency, you're now competing against people from your country, AS WELL AS other countries. The same is true in the reverse. Someone with American citizenship however will look at the MM and go "OMG! There's like 6 Bajillion USD on there!" except, someone with Mexican citizenship will go "Dios Mio! There's like 6 bajillion MXN on there!", etc.

The change to the MM will do both help and hurt the MM. It will slightly hurt the MM in bigger countries due to the currency being watered down, but it'll be helpful to smaller countries since they will no longer be stuck on small, underused currencies.

In fact, the eUS was granted a huge gift in all this. When Admin converted all the currency to the joint currency, they assigned conversion rates to all the countries. The eUS's conversion rate was made to be 1.60. This means for every 1 USD you had pre-change, you now have 1.60. In terms of the country. We had roughly 4.5 Million USD in our government's main org, which is now in the 7.5Million USD range (YAY MONIES!).

In summary, the admins merged all the eWorld's currencies together but are having it be labelled by the citizenship of the citizen holding the money (unless it's on the MM where it's labelled by the person looking at the MM).

I hope I have brought you all closer to understanding what exactly happened and that I have prevented you from getting confused by the econ changes.

-Evry
Econ Council Chairman
Congressional Budget Office Director
Secretary of State
Former Secretary of the Treasury
Former Secretary of Defense
Former Chief of Staff