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1 SEK = 0.001 Gold 
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Joined: 26 Feb 2011, 14:10
Posts: 287
Post Re: 1 SEK = 0.001 Gold
What happened in shor was the MM had by it self - or possibly partly by speculator help - moved it self to 720, meanwhile the offers on the SEK side were still at 0.002 as they have been for ages, so there was plenty of room for the gold side to go towards 500.

All of a sudden, while I happened to be looking at the market, everything was bought up rapidly, until the gold side was at 1000. Shortly after an offer was posted for +260k SEK at 0.001. I was surprised and soon after the debate started on the forum. Meanwhile speculators, investors and average people jumped on the chance for cheap SEK. When the first offer had sold after a few hours or so a new one was put up at +300k SEK. At this time the official public SEK account of RB started to look stretched. Nonetheless this offer also sold in a few hours. Eventually a third offer was put up. This time at around 1million SEK (might have been 999.999 not sure what the exact limit was). At the same time an offer of the same size was taken off the SEK to DKK market by the bank, indicating this was a stored reserve taken into use. That offer persisted through the entire evening and then seemed to disappear at some point, although at least 500k of it sold, possibly all of it. This morning there was no sign of it either, but there's not stored any money on the danish market anymore at least. The RB official account holds pretty much the same amount of SEK as when the offer was up.

While all this happened Crazy also initiated the vote to transfer anoter 99999 SEK to the RB, a vote which is easily going through now, providing more funding for the RB that can then be sold on the MM.

What I think must be made clear is this: We all know that the admins change conditions in the game all the time. What if some changed are implemented that makes it worth it to have gold more than SEK for new players too? What if a gold price is put on all RM companies? It makes sense since they would sell more gold then... If that happens we now have somewhere between 1 and 1,6 million floating additionally in the market, making it a lot harder to improve the exchange rate.

Edit: Btw is it too much to ask that a decent spreadsheet is kept over government finances? I assume there's some sort of budget and that income and expenses are being monitored and a balance calculated? Even if it's not publicly available, surely any member of congress should be entitled to that information.


Last edited by Yoshi Midori on 20 Jun 2011, 14:54, edited 1 time in total.



20 Jun 2011, 14:52

Joined: 20 Jan 2011, 12:44
Posts: 806
Post Re: 1 SEK = 0.001 Gold
Valnad wrote:
With the risk of repeating myself, I would like to know what RB needs gold for? Of course, gold is always nice to have but I can't see that we have any expenses in gold and thus it would indeed seem... odd... to jeopardize the entire MM.

I've done a similar thing myself back in the days when I was MoF under St00r, but back then our intentions were to INCREASE the value of SEK. Unfortunately, too many who had promised their support quickly saw an opportunity to score some easy profits and the attempt didn't last more than a few days. I took the blame for it, although it was a project that involved quite many players, but I also learned how pointless it is to try and offset the MM balance. We've had a floating currency peg for months and months... I just fail to see the reason why we would want to dope it now.


I agree.
I can't see any reason for RB to have much gold and certainly not to acquire more gold.
That gold would be better off on the market, where people can buy it and use it in the game.

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20 Jun 2011, 14:53
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Joined: 25 Apr 2010, 16:47
Posts: 5342
Post Re: 1 SEK = 0.001 Gold
Not mentioning the fact that when I left office, our gold reserves were large. To say the least. I'm in favor of hoarding gold, sure... but not at the expense of selling out SEK below the market value. That's just a bad deal for everyone involved.

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20 Jun 2011, 15:43
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Joined: 17 Apr 2008, 17:08
Posts: 622
Post Re: 1 SEK = 0.001 Gold
Valnad wrote:
Not mentioning the fact that when I left office, our gold reserves were large. To say the least. I'm in favor of hoarding gold, sure... but not at the expense of selling out SEK below the market value. That's just a bad deal for everyone involved.

CAN EVERYONE READ THIS, PLEASE!?!

Thank you Valnad!

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20 Jun 2011, 15:44
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Joined: 18 Jan 2010, 12:41
Posts: 1418
Post Re: 1 SEK = 0.001 Gold
Edit: I just removed it all, it will make no good for me cursing and pointing fingers. Although I'm curious abut the rationale behind this initiative.


20 Jun 2011, 19:21
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Joined: 11 Mar 2008, 23:12
Posts: 6279
Location: Göteborg/Dalarna
Post Re: 1 SEK = 0.001 Gold
Yossi Ghinsberg wrote:
Edit: I just removed it all, it will make no good for me cursing and pointing fingers. Although I'm curious abut the rationale behind this initiative.

Resonamanget bakom det hela går numera att läsa här:
viewtopic.php?f=7&t=19030

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12 Aug 2011, 21:08
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