A New Addition to EcoCityCraft's Monetary System

Who you callin the big guns?

 

Look at my replies, all of them.

 

I am not stupid, and this isn't a bad idea.
You don't understand what what this means.

 

Tell me why this isn't a great idea.

All the reasons you guys said earlier were bad, I made my comebacks. Now it's your turn.

 

All right guys, now I am going to explain my thinking. I am not fooling around right now.
I am going to make this clear.
Yo People don't understand my point yet.

The Federal Reserve requests the government to have the money to be printed out of thin air, and Fed is the Central Bank of the United States. In the whole entire world, there is more demand for credit than there is, so there has to be credit that is made up and causes inflation. and more credit is added into the economy, so that each piece of currency is worth less. In order to keep up with the demand for credit, people issue loans, or bonds. If we decide to not fill in the demand for credit, you would not be able to buy a house until you would retire. It takes a long time to save up money to buy a house.
Also, business and commerce would crawl extremely slow, and some companies wouldn't exist without loans that pay for the salaries of employees, equipment, maintenance, and structures, in companies' beginning and starting stages. For example, if the whole world put there life's savings in one big bank, there would be a specific amount of money in there, lets say, 400 trillion. But if the bank also issued and loaned out credit to everybody in the whole entire world who needs it, there would be the demand for like, 412 trillion worth of loans, cuz people need to buy homes, businesses, investments, and starting capitals for companies. So 12 trillion has to be printed out of nowhere in order to be loaned out and then it would be payed back anyways at interest. So then more than 12 trillion is added into the global economy. which is a 3% inflation rate if 12 trillion was payed back in a year. Which is healthy economy.

You are wrong, more money is printed than there is earned money in the economy. Literally.

 

My previous comments on the other 3 pages are BS and stupid. listen to the ones on page 4.

 

You didn't say that earlier. You could have told me earlier that we didn't need anymore currency added into the economy. I could have simply stopped there, but instead you guys said reasons that had wrong information in them, so I corrected them and you guys that I didn't see the point, and I didn't until now.

That should have been your whole point, your main and focus of your argument. But instead you guys acted extremely differently from my perspective.

 

But I have an idea.

 

All I said was that I wanted the power to control inflation rate in this economy server. Not to be rich and stupid.

Because if I create money out of thin air, and loan it out to fulfill more of the demand for credit, more money is added into the economy, and if I have the ability to create money, I can have the ability to adjust the inflation rate in this economy. And thats what I wanted.

But you guys didn't say earlier that we had enough money added into the ECC economy already. You guys didn't understand my point completely, and already started explaining why my idea was bad, and that would result in unsatisfactory explanations and replies.

mcg1, do ya understand now?
dork1877, don't assume that I know much less than you do.

This idea was great. Its just that 90% of your reasons saying why my idea is bad, are wrong. And this one reason was a good one, but you guys didn't use it to truly help me understand until dumdum came to say it. But still didn't notice that it was the key reason that should have been said earlier.

 

Just because I haven't donated doesn't mean I shouldn't be trusted. I know how to handle money.

 

yesterday, I went from 63 ratings to 72.

 

1. Go read my Thread.
2. actually I will just answer your question right here. I request that only I will have the power to spawn in money. (ECD). Of course money needs to be earned. This is the story of how money came to be: just listen: Back then, in the old days, long, long ago, people traded things for other things they needed. For example, I want that piece of pie that you have, and I will give you some finest jewelry in exchange for your delicious pie. Which means I will trade some jewelry for your pie, because I value the pie more than my fine jewelry, maybe because I have enough jewelry, or maybe because I need more food. If you agree to trade your pie for some of my jewelry, it is a successful trade. But if you wanted a banana instead of jewelry, then we have a problem. Because you don't value my jewelry, but you value a banana. Then, people had a solution to this problem: everybody trades with gold. They do that because everybody values gold, you can use it to build things, and decorate things, and it is shiny. So now people started buying things with gold, they traded gold for things they needed. Then, blacksmiths smelted gold ingots into gold coins so that it would be easier to put into people's hands and trade with. But gold coins were heavy, and could be stolen, and at times could be worth more, and the world's supply of gold is limited, because it is a precious metal that has to be obtained and is not renewable. You have to MINE it. So then the goldsmith built vaults and hired guards for people to put their gold in. And the people would pay a small fee for the protection of their gold to the goldsmith. So after putting their gold into the goldsmith's vaults, the goldsmith would give them IOUs. which were pieces of paper. For example, if you, as a villager, put 100 gold coins into the goldsmith's vault, he will give you a piece of paper that says I Owe You 100 Gold Coins. and you could redeem your gold anytime you wanted. But then people didn't come to redeem their gold, they left the gold in their vaults, not wanting to come back and get them. Why? Simply because people started to use the pieces of paper, called IOUs to buy things with instead of gold, because gold was heavy and hard to carry around with. For exmaple, you have your IOU, you can use it to buy a crate of fish, and you give the IOU to the fisherman who sold you the fish. and he can take that IOU and give it to the goldsmith in exchange for real gold. That was the first kind of currency in paper form. They treated it as if it was the gold itself.
Also, the goldsmith had started a business that issued loans. He would take the gold from the vault and loan it out to other people. and people would pay it back in the form of gold. But later, since IOUs were getting popular, people asked for loans in the form of IOUs instead. If they do that, they would repay the loan in the form of IOUs as well.

I am not finished. I will continue the story and add more to answer your questions, later, cuz I gotta go!