Wait what happened to the ledger?
Wait @Chips what happened to the ledger?
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We have added a new member to the team at 1st Bank of Mug. will be the head of our loan department. A one-time payment of 19 Mugbacks has been deposited into his account for the services he will provide.
Yes, this means that very soon we will be rolling out BANK LOANS. YAY! I'll leave it to Slumsta to figure out the details of how that would work. What could go wrong in such capable hands?
But before we do that, we're going to need much more currency to loan out, so we are greatly looking forward to efforts to free the Mugback from Mug backing and transition us to a currency to where the value is based on the expectation of value -- this seems much more sustainable for the long term and should make us all vastly rich as well.
Oh yeah, the minor details most would probably just prefer to skim over or ignore because they're really very insignificant in the scheme of things. The 1st Bank of Mug has printed more Mugbacks (200, to be precise) mostly because we needed more Mugbacks to pay Slumsta and still plausibly be meeting our reserve requirements.
Our economists have determined this may slightly affect the Mug : Mugback exchange rate, and have updated the ratio to reflect that. A Mugback is now worth .98 Mugs instead of 1 Mug.
But with so much wealth to go around, who cares? We have also lowered the Mug rate from 5% to 4% in order to encourage spending. With this in mind, we're confident the Mugback will bounce back quickly!
edit: Ledger updates are being processed and at present values may not match investor net worth.
We have added a new member to the team at 1st Bank of Mug. @Slumsta will be the head of our loan department. A one-time payment of 19 Mugbacks has been deposited into his account for the services he will provide.
Yes, this means that very soon we will be rolling out BANK LOANS. YAY! I'll leave it to Slumsta to figure out the details of how that would work. What could go wrong in such capable hands?
But before we do that, we're going to need much more currency to loan out, so we are greatly looking forward to @Chips efforts to free the Mugback from Mug backing and transition us to a currency to where the value is based on the expectation of value -- this seems much more sustainable for the long term and should make us all vastly rich as well.
Oh yeah, the minor details most would probably just prefer to skim over or ignore because they're really very insignificant in the scheme of things. The 1st Bank of Mug has printed more Mugbacks (200, to be precise) mostly because we needed more Mugbacks to pay Slumsta and still plausibly be meeting our reserve requirements.
Our economists have determined this may slightly affect the Mug : Mugback exchange rate, and have updated the ratio to reflect that. A Mugback is now worth .98 Mugs instead of 1 Mug.
But with so much wealth to go around, who cares? We have also lowered the Mug rate from 5% to 4% in order to encourage spending. With this in mind, we're confident the Mugback will bounce back quickly!
edit: Ledger updates are being processed and at present values may not match investor net worth.
(post is archived)