- Location
- Germany
I'm aware of the risks of Fiat Money, which is why I established precedent for a minimum security deposit for limited reserve banking. The IB is taken care of by tying them to our currency and other banks can be brought to heel by government regulations once the issue crops up.
Which will take years or decades and the bubble serves us well for now. Once it's ripe to pop, we can use it to get direct control over a lot of property and businesses.
Stock, not currency. It's a trading company, not a bank. After a short transition period of accepting local currency, ACSEC will switch over to only accept Imperial Marks, thus forcing adoption of the currency on traders seeking to use their services.
Only if you switch your currency back and forth every time. Which is something we don't want. People obtaining IM to trade and making a profit in IM need an incentive to keep said money in IM. Thus there begins to build up a currency stock in other planes that stabilizes the value and exchange rate.
Meanwhile, foreign currency stays in our possession and allows us to issue more Imperial Marks if the need arises without risking inflation by having the money appear without backing.
Stock trading is not automatically the same as trading currencies and stock exchanges take service fees too. If we would do this through ACSEC, we would take service fees too, but by letting it be done by the IB, we don't need to set up our own infrastructure. Instead we use theirs and instead of us taking a fee to finance that infrastructure, they do it.
This is a perfectly reasonable deal they want. See above why it's even beneficial for us.
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