Credits have been a major focus over many months now. With Captain Jack planning a renovation of the credit market, the bankers seem to have been threatened by the pending changes.

6 months ago the credits were being bought by the banks with the best rate being 95K gcpc and sold by the banks at best rate of 115K gcpc.
3 months ago the credits were being bought by the banks with the best rate being 120K gcpc and sold by the banks at best rate of 135K gcpc.
Today's numbers seem to have gone in the 200K range, with best bank buying rate at JIM's Spanish bank of Santander with 210 gcpc and best selling rate at the Lodanian savings and loans bank with 240K gcpc and a peak inflation selling price of 300K gcpc at JIM's Spanish bank of Santander.

There are a total of 56 banks in Avonmora and only 6 of them are at a level that allows them to deal in credits , making the credit market theoretically controlled by 11% of the bank owners. Out of those 11%, 4 are offering to buy credits from citizens of Avonmora and only 3 offer to sell credits. bringing down the percentage of banks controlling the credit market at this time to a mere 5%!
With no current checks and balances for the banks to set the prices the credit exchange rate has been dramatically increasing, reflecting that credits are both high in demand and scarce!
The thousands of citizens of Avonmora are revolting in the streets and are demanding accountability and realistic market rates through which they can conduct business. The millions of citizens at every port are lighting fires demanding the heads of governors with the lack of credits in the market.

Is this a repeat of the french revolution? Will the citizens of Avonmora revolt and bring down the aristocratic class that controls the credit market to their whim? Should we anticipate a coalition of bankers to rise to oppose and battle the inflation of the credit market and satisfy the hunger of citizens in the streets? Will there be a universal voted upon rate that can be revised when needed by the bankers council?

Remain tuned with us for the latest financial news of Avonmora.

This your field reporter Phoenix Knight for the Egyptian news channel of Avonmora.

Didn't know a field reporter can also be the King.

But I do strongly agree, these prices are absurd!

But, sadly. I don't think it will be fixed unless another Big Tea or another massive credit seller comes around. As well, this does benefits CJ's pockets.

I find the market to be self-regulating though.

When prices reach too high, people will start buying credits and then FLOOD the banks with plenty of credits, causing prices to fall. When prices fall to the point where everyone is just snatching the credits right when they come out, the banks will higher the prices. That is just my theory on our market.

What I am pissed about is how the hell Voodoo prices for credits have RISEN, this makes 0 sense. It seems as if people are now just purposely buying things at high cost for credits because they can and do not worry if the prices higher for everybody and themselves.

The credit inflation is mostly relevant to the amount of gc that is now available and rising. Not due to a single buyer. Everything plays a role though so it is also down to buyers. This is why newcomers are so important, as they can feed with credits the veterans. Ultimately, this cannot always happen.

At our part, we are preparing the credits market which is expected to increase exchange volume. This will help stabilizing the prices more while the assets available will also increase. This will be better for all.

Then, you can expect a new batch of technologies that will contain gc growth in Avonmora. It cannot do more than a mere contain though, for the moment.

Ultimately, the best solutions are always given by players. For example, the fastest way to deplete gc reserves is through war. Perhaps Nation diplomacy should be hastened.

YES! Yay to nation diplomacy! And lots of other stuff, particularly "Wars and Blockades". Credit cents are needed too, despite what I read on that other thread. If we REALLY want more wars, though, something along the lines of my suggestion "External Political Events" will be needed, since even with game mechanics for wars in place, actual wars will be very rare, as they are so costly.

The credit market is interesting indeed. I'm following the price of voodoo and credits closely.

Captain Jack: Could it be possible to include the total number of credits in the hands of active players to the Demographics page? That would be really interesting.

Its the market that sets the prices. I need a steady supply of credits to supply my trading fleets with party cards. If the the price of trading cards goes too high or I have to pay too much for a credit, the balance fails. I look and change the rate several times a day

If a player is buying credits at a higher rate for other uses then the party card system fails.

Jim

There are lots of reasons for buying credits! My reasons are seldom to get more party cards

I exercise my consumer powers and just dont buy when prices get silly : prices in Avonmora have been silly for some time, thus I have been largely inactive and will remain so until prices become less silly, perhaps when they reach merely laughable I might return to playing a fuller role here.

Danik wrote:I exercise my consumer powers and just dont buy when prices get silly : prices in Avonmora have been silly for some time, thus I have been largely inactive and will remain so until prices become less silly, perhaps when they reach merely laughable I might return to playing a fuller role here.

100% agreed with this statement

Captain Jack wrote:The credit inflation is mostly relevant to the amount of gc that is now available and rising. Not due to a single buyer. Everything plays a role though so it is also down to buyers. This is why newcomers are so important, as they can feed with credits the veterans. Ultimately, this cannot always happen.

At our part, we are preparing the credits market which is expected to increase exchange volume. This will help stabilizing the prices more while the assets available will also increase. This will be better for all.

Then, you can expect a new batch of technologies that will contain gc growth in Avonmora. It cannot do more than a mere contain though, for the moment.

Ultimately, the best solutions are always given by players. For example, the fastest way to deplete gc reserves is through war. Perhaps Nation diplomacy should be hastened.

My question is, why implement an entire new market, when you can just make it so every bank can exchange credits, regardless of the level? Wouldn't that be some type of equivalence?


I as well remember some type of talk of implementing a "Credit Selling only" tab for Banks which lists which banks are selling credits and for howmuch.
As well, same with the Credit Buying tab.

It would not be equivalent to a credit stock market. Such a market will be more flexible and it will be far easier to get an overview.