Bank of England
Starting report of last term: Introductory Stats - http://tinyurl.com/cv4eldm
Advert: I had some complaints on how the data was graphically displayed last term. If anyone is good with graphics and would like to make a template I could use to make things look better, please get in touch!
Firstly I would like to start with an apology. I was writing out an article a few days before the end of last term which I was going to release. It seemed a bit pointless to release it with the end of the term just days away and so decided to wait for a big, sum up how last term went sort of article. Then, around the end of last term until now I have been wrapped up trying to get a promotion at work which did take up a lot of my time. If it helps, I got the job!
Anyway, back to the point at hand.
Starting with: Last Term
As you can see, I have linked the first article from last term.
At the start of last term we had roughly 4200 gold or £1.9M CC. Depending which of the currencies you would like to use.
We now have roughly £2.3M CC. If we wanted to turn that in to gold, using the MM and waiting 10 days (it would more than likely take more than one attempt) but we could get up to 7200 gold.
Over half of our profits came from the MM. Sadly it is very unreliable and gold has plummeted making it less profitable recently.
So last term, using the MM and taxes our reserve turned from £1.9M CC to £2.3M CC. We earned 400k more than we spent!
We spent 180,250. Meaning we had an income of nearly 600k last month.
For those interested we earned 235k from taxes. Meaning close to 350k came from the MM. On average we made £7580 a day from taxes.
Ending With: Next Term
We currently have 172186 in the country accounts. And 2097259 invested in the MM (or waiting to go in to the MM). Hopefully this can be built on.
Current spending plans are for CtA, Strikes and obviously MPPs. In the MoF team we will be discussing if we need to build up our reserve more and what to do with the daily income once we have met that reserve and what to do with the Q6 companies the Gov owns. We will not be doing anything with these assets without involving the public, we are just currently out lining our options.
If you would like to be in the MoF team, all it takes is a pm to me and you get in. It is just a hidden section on the forums, but that is where we discuss these things.
One last bit on the MM…
With gold prices dropping it is even harder to make cash this way. We just to sell what ever gold we got from the MM for 480. As we bought it for 333.33 that was just over 146 CC per gold we gained. Now it is hovering around the 390 stage. Now we gain less than 57 CC per gold we buy. As you can see this has really hurt our profits. I have found a way to up the amount of gold we end up gaining by about 10% so that is slightly offsetting the loss, but it is still not as much as it was. Gold prices really depends on the admins, however I urge everyone to take advantage of the low gold prices while they can. As a personal opinion, I don’t think they will keep them this low for too much longer.
I will be returning to more regular updates now I can happily settle in to a new job
Thank you all,
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