Credit Market Sunk?

[Sir Henry Morgan]

Aye, I commend Danik in providing a grey market credit exchange - it is a much better model at the moment than the exchange, as it is much easier to control how much will be sold or bought on the exchange, thus prices can remain where they are.

As there be more and more credits in Avonmora, more and more folk be turning them to gold coin, and fewer be buyin' them at this time. Credits willl continue to gather in the system, as a ship or a voodoo card is sold, a credit moves to the seller, who sells it into the exchange, which in turns sells it from the exchange to a voodoo card buyer or ship seller - it stays in circulation.

Until they are "burned" thru buying turns or voodoo paks, those with the exchange have no choice but push prices down in order to keep the exchange open, both on the buy side and sell side.

Needles to say, I did not do a good job of it, in an attempt to balance out the numbers of buyers and sellers on the exchange, I lowered prices, thus devaluing the credit, which I didn't particularly care for - for now, I have simply shut it down. Right now, there is a glut of credits and few buyers, at least at the old prices of 175k or higher. Credit buyers seem to be going right to the seller, by passing the exchanges, which is exactly what I would do!

Perhaps later, I will provide service as a convenience, but for now, I am shutting down the exchange until I can find a good fit.

[Admiral Nelson]

I exchange credits for gold.

55 Credits for 10 million gold coins, I can do up to 110 credits ( 20 million ).

At one time.