Philippines
Mabuhay!

Welcome to the eRepublik & e-Sim Philippines community forum, where all discussions related to the eRepubik & e-Sim Philippine' Government and community are found.

If you already have an account in this forum, please type-in your username and password in the boxes upon clicking the log-in button below.

If ever that you don't have a forum account, please register by clicking the register button or link your facebook account by clicking this kind of button () for you to automatically sign-in next time upon you visit again our forums.

MM value is getting a little ridiculous

View previous topic View next topic Go down

MM value is getting a little ridiculous

Post by Negosyo sa tao on Sun Apr 03, 2011 9:00 am

Not ours, just it seems everybody else:

Current MM value: Big 10 Pop Size (Therefore, the biggest economies)
Country MM Value (per currency)
Serbia 0.01g
USA 0.009 g
Brazil 0.008g
Poland 0.011 g
Rep. of Macedonia 0.009 g
Bulgaria 0.009 g
Hungary 0.009 g
Turkey 0.008 g
Indonesia 0.008 g
Spain 0.008 g

So the question is: Do we lower our PHP to the 0.005 level to be competitive?
avatar
Negosyo sa tao

Number of posts : 369
eRep Function : Ministry of Finance Minister, and MM Trader
Reputation : 1
Registration date : 2009-03-27

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Eugene Bautista on Sun Apr 03, 2011 9:07 am

if we put it to 0.005 we can't gain profit with it. 0.008 is much better i suppose
avatar
Eugene Bautista

Number of posts : 114
eLocation : Luzon, Philippines
eRep Function : Congressman
Reputation : 1
Registration date : 2009-04-02

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Revilo X on Sun Apr 03, 2011 9:11 am

I think no...

0.005 is the cost of printing PHP.

When you say competitive, does it mean exporting our product?

I think for now, we can stay @0.007 - 0.008 and see what will be the MM movement for the next few days.

If we offer PHP at 0.005, the gov. will not gain from MM.

avatar
Revilo X

Number of posts : 1279
eLocation : Palawan
eRep Function : ePhilippines
Reputation : 8
Registration date : 2009-06-03

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by nicholas2000 on Sun Apr 03, 2011 6:21 pm

I think we should try to keep it right where it is.
avatar
nicholas2000

Number of posts : 15
Reputation : 0
Registration date : 2010-04-08

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Shnipe on Sun Apr 03, 2011 8:10 pm

With the way things work now, it doesn't really matter what our currency value is at. If our goods are cheaper, people will come here and buy them to sell elsewhere, if they're more expensive, people like PiZ will bring prices down.

The only advantage is that people might come here to buy land.
avatar
Shnipe

Number of posts : 124
eLocation : Philippines
eRep Function : Chief Prophet of the Narwhal
Reputation : 2
Registration date : 2010-11-04

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by nikko_33 on Sun Apr 03, 2011 11:53 pm

Recent changes in eRep mechanics may have precipitated this situation; especially that 500 HP thing. It would be wise to wait for things to settle down before making any major move on the gov side.

I think local business owners could wait a bit more since our wages are lower than most countries'. And with our new liberalized import tax scheme, we may soon see foreigners selling PHP's they earned off our market. Historically, they tend to lower the PHP value since they'd want to convert their PHP's into gold quickly, either to hoard them or exchange for their own currencies.

So the BoP may not need to adjust its current rates at all; impatient PHP holders could just do it for the BoP by offering the PHP at 0.007g or even lower.

At this point, further vigilance on the MM movements is required. If the situation gets worse in about a week, then let's adjust accordingly.
avatar
nikko_33

Number of posts : 718
Reputation : 0
Registration date : 2009-03-30

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Negosyo sa tao on Mon Apr 04, 2011 5:02 am

In a week it is.

I meant competitive in terms of both exports and buying land. lol. Gotta be more vigilant in definitions.
avatar
Negosyo sa tao

Number of posts : 369
eRep Function : Ministry of Finance Minister, and MM Trader
Reputation : 1
Registration date : 2009-03-27

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Revilo X on Mon Apr 04, 2011 5:07 am

Ahh I see...

With regards in buying land, I don't see any advantage if we sell PHP @ 0.005. Because the government will not earn anything if we sell at the said rate.

Let's wait for one week, and let's resume this discussion :)


avatar
Revilo X

Number of posts : 1279
eLocation : Palawan
eRep Function : ePhilippines
Reputation : 8
Registration date : 2009-06-03

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by nikko_33 on Mon Apr 04, 2011 5:26 am

Ahhh....

Exports - It is admittedly being adversely affected by the current situation. But I think local businesses could weather this for the time being. Let's adjust if we see no improvement in the days to come.

Landbuyers - I think we should establish a fund to cater to this market. As I've mentioned before, it could be a citizen - BOP transaction, where the citizen will send the gold for PHP's to BoP at lower rates (0.007g at the moment would be good). We could set this up and announce and promote this in the media, so citizens would be aware of this facility.

Whatya think? Come to me
avatar
nikko_33

Number of posts : 718
Reputation : 0
Registration date : 2009-03-30

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Myung Kei on Tue Apr 05, 2011 12:15 am

I think the rate of .01 - .008g has worked out pretty well for us, and plus I think the comparison in the first post is a bit apples to oranges here. We do not have an economy the size of the eUSA or eSerbia, and our market being so small really cannot stand up the the whitewash of competition from the gazillions of companies in the "top 10" . If there is a need for us to devalue, then it should be done at a later time.

As for the land buying scheme, it is an interesting idea.
avatar
Myung Kei

Number of posts : 225
Age : 23
eLocation : Here, Duh!
eRep Function : "Playa"
Reputation : -3
Registration date : 2009-09-23

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by DisDick on Tue Apr 05, 2011 3:37 am

Prior to the citizenship required to buy land change the serbians in NZ where doing this. They sold 1000NZD for 7gold for land and only land because you dont want to give someone 1000 currency for use in a market where they could gain a few G and lose the gov money. So they made print screens of the land screen mandatory. I purchased about 5 land places this way and its pretty effective and benefits everyone involved makes the gov gold and gives someone a new land spot to purchase a comp and bring in more taxes and such. Seems like a win/win/win lol although now you have to have citizenship in the country you are purchasing land in so you could only offer this service for the people of ePH. On that note I would be interested in something like this as a citizen of ePH as I need more land :3

This only works if you funnel the gold into a "government" org. Which I have no idea at this point if we have (only my 1st day here ^__^ ) but that way you can donate more than 10gold into it :)
avatar
DisDick

Number of posts : 24
Reputation : 2
Registration date : 2011-03-18

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by nikko_33 on Tue Apr 05, 2011 4:20 am

DisDick wrote:Prior to the citizenship required to buy land change the serbians in NZ where doing this. They sold 1000NZD for 7gold for land and only land because you dont want to give someone 1000 currency for use in a market where they could gain a few G and lose the gov money. So they made print screens of the land screen mandatory. I purchased about 5 land places this way and its pretty effective and benefits everyone involved makes the gov gold and gives someone a new land spot to purchase a comp and bring in more taxes and such. Seems like a win/win/win lol although now you have to have citizenship in the country you are purchasing land in so you could only offer this service for the people of ePH. On that note I would be interested in something like this as a citizen of ePH as I need more land :3

This only works if you funnel the gold into a "government" org. Which I have no idea at this point if we have (only my 1st day here ^__^ ) but that way you can donate more than 10gold into it :)
Very Happy Precisely what I was talking about weeks ago in another thread.

Citizenship is now needed to buy land?! Argh!

Oh well...we could still cater to the local buyers.
avatar
nikko_33

Number of posts : 718
Reputation : 0
Registration date : 2009-03-30

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Ariel on Tue Apr 05, 2011 5:17 pm

Negosyo sa tao wrote:In a week it is.

I meant competitive in terms of both exports and buying land. lol. Gotta be more vigilant in definitions.
+1 Very Happy

_________________________________________________
Ambassador of the Philippines to Israel | Department of Foreign Affairs
Undersecretary | Department of Finance
Editor-in-Chief | The eRepublik Outsider
avatar
Ariel

Number of posts : 3426
eLocation : Philippines
eRep Function : Statesman, Public Servant, Entrepreneur, Journalist, Baker
Reputation : 18
Registration date : 2009-03-24

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Negosyo sa tao on Sat Apr 09, 2011 4:10 am

Well, it's nearly been a week so let's review.

I've just looked at one big market, the eUS, and guess what? Their f****** MM value is at 0.006. Yah for us who have a higher MM value than the eUS.
Dancing Diatabs
avatar
Negosyo sa tao

Number of posts : 369
eRep Function : Ministry of Finance Minister, and MM Trader
Reputation : 1
Registration date : 2009-03-27

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by nikko_33 on Sat Apr 09, 2011 4:43 am

Yeah, I've also been worriedly watching the downward movement of the MMs for the past few days. Not only the US, but most other countries' currencies are taking the same trajectory.

Interestingly, our local goods markets have been performing normally - products are being offered and bought at its normal pace, including raws. So I'm wondering why we are not being adversely affected by the current MM situation.

Frankly, I'm stumped at this point. I don't know how we should react, or if we should do anything at all. I myself have been holding on to my foreign currencies, hoping its value would eventually go up. It's a new territory for all of us (USD = 0.006g?!), and I wonder how this will all turn out.
thud
avatar
nikko_33

Number of posts : 718
Reputation : 0
Registration date : 2009-03-30

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Hekter on Sat Apr 09, 2011 5:11 am

As of 21:10 eRep time on Day 1,235, the current spread on PHP is 164%. It is selling for .007 and being bought at 235 PHP per one gold, or ~.004.

At least on the gold side, the currency is rapidly going even below government-sustainable levels.

_________________________________________________
7-Term Congressman
4.5-Term President [December '09, January '10, April '10, December '10, October '11]
ex-MoFA A Bunch of Times
ex-MoD A Bunch of Times
avatar
Hekter

Number of posts : 618
eLocation : ePhilippines
eRep Function : General of the eUS Army
Reputation : 8
Registration date : 2009-05-18

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Revilo X on Sat Apr 09, 2011 10:20 am

I really don't know what should be done at this point, but as a businessman, I think we can still compete in other country with the current MM rate specially in Oil and MT since the demand for these are very high.

I am also amazed to see that our job market is not extremely high unlike in US and other countries, maybe this is one of the reason why we are not much affected by what is happening in MM rates. Buffer?

Should we still play the wait and see game?


avatar
Revilo X

Number of posts : 1279
eLocation : Palawan
eRep Function : ePhilippines
Reputation : 8
Registration date : 2009-06-03

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by nicholas2000 on Sat Apr 09, 2011 4:54 pm

I'm not extremely knowledgeable on eRepublik economics, but could our currency staying stable be a result of our relatively small population and lack of participators in the monetary market?

This wouldn't be the first time that small countries with few MM players have fared better than larger countries.
avatar
nicholas2000

Number of posts : 15
Reputation : 0
Registration date : 2010-04-08

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Ariel on Sat Apr 09, 2011 10:36 pm

Can someone teach me how this MM thing works? Please. xD

_________________________________________________
Ambassador of the Philippines to Israel | Department of Foreign Affairs
Undersecretary | Department of Finance
Editor-in-Chief | The eRepublik Outsider
avatar
Ariel

Number of posts : 3426
eLocation : Philippines
eRep Function : Statesman, Public Servant, Entrepreneur, Journalist, Baker
Reputation : 18
Registration date : 2009-03-24

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Myung Kei on Sat Apr 09, 2011 11:54 pm

Ariel wrote:Can someone teach me how this MM thing works? Please. xD

Basically, you take a line graph and then draw some up and down lines like you would on an seismograph or on a heart monitor. Then, you interpret the results and then scream that the sky is falling. swing

But on a serious note, do we want to keep our currency at .08?
avatar
Myung Kei

Number of posts : 225
Age : 23
eLocation : Here, Duh!
eRep Function : "Playa"
Reputation : -3
Registration date : 2009-09-23

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Ariel on Sat Apr 09, 2011 11:56 pm

Let's see. Based solely on your seismograph-sky-is-falling analogy, yes.

_________________________________________________
Ambassador of the Philippines to Israel | Department of Foreign Affairs
Undersecretary | Department of Finance
Editor-in-Chief | The eRepublik Outsider
avatar
Ariel

Number of posts : 3426
eLocation : Philippines
eRep Function : Statesman, Public Servant, Entrepreneur, Journalist, Baker
Reputation : 18
Registration date : 2009-03-24

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Negosyo sa tao on Mon Apr 11, 2011 6:19 am

I think we should keep the official govt. rate at .008, while letting the market value float.

MM quick and dirty:

spread: the difference between what people are selling PHP at vs. what the people buying the PHP want

what the people buying the PHP want: the first screen when you click the MM link

what people are selling PHP at: when you change the "buy" option from gold [default] to PHP in the MM screen

The rest of the MM is just how people think the spread will change due to free market comp, and other economic decisions that entities like govt. make. It's a racket unless you're paying a lot of attention.

What else?
avatar
Negosyo sa tao

Number of posts : 369
eRep Function : Ministry of Finance Minister, and MM Trader
Reputation : 1
Registration date : 2009-03-27

View user profile

Back to top Go down

Re: MM value is getting a little ridiculous

Post by Sponsored content


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum