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Author Topic: Fate of the C-Bill  (Read 1200 times)

Dahmin_Toran

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Fate of the C-Bill
« on: 13 September 2020, 22:06:47 »
With the dissolution of ComStar in the Republic and other parts of the Inner Sphere, what is the fate of the C-Bill in Inner Sphere economics?

S2pidiT

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Re: Fate of the C-Bill
« Reply #1 on: 13 September 2020, 22:15:39 »
I happened to find this previous thread: https://bg.battletech.com/forums/index.php?topic=62010.0

I think I agree with the idea that the C-Bill could carry on because it's "simple" by that point. Inertia can be a powerful thing.

truetanker

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Re: Fate of the C-Bill
« Reply #2 on: 08 December 2020, 19:13:14 »
Just replace it with the R-Bill...

Stone on the Hundred, call it the Exarch bill.
Followed by the Fifty, Paladin bill, then the Twenty, Knight bill and so one...

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jasonf

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Re: Fate of the C-Bill
« Reply #3 on: 08 December 2020, 19:30:32 »
I happened to find this previous thread: https://bg.battletech.com/forums/index.php?topic=62010.0

I think I agree with the idea that the C-Bill could carry on because it's "simple" by that point. Inertia can be a powerful thing.

It's simpler, but it's also not how fiat money works. C-Bills are notes backed by the full faith and credit of Comstar. If Comstar exist, then the bills are worthless. It'd be no different than the value of Confederate dollars after 1865.

That being said, the rest of the universe would still be fine trading in local currencies--it'd just be more cumbersome and more subject to politics (for example, you'd have to worry about whether particular Lyran merchants are willing to be paid in M-Bills or K-bills). Otherwise, exchange rates across currencies would ensure that commerce would go on as before.

The only caveat is that the collapse of the C-Bill would cause a massive interstellar financial crisis unless there was something like an R-bill introduced. In fact, it'd probably have to come from the RoS since they control Terra (i.e., the bulk of Terra's assets). They would then have to allow people to turn in their (now-worthless) C-Bills for R-bills at some fixed exchange rate, which go a long way in restoring order to the BT currency universe.

Kovax

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Re: Fate of the C-Bill
« Reply #4 on: 11 December 2020, 13:18:58 »
It's simpler, but it's also not how fiat money works. C-Bills are notes backed by the full faith and credit of Comstar. If Comstar exist, then the bills are worthless. It'd be no different than the value of Confederate dollars after 1865.
Close, but not exactly.  The Confederate currency was backed by faith in the Confederacy and its ability to make good for the sum in either precious metal or services rendered, and became absolutely valueless after their defeat. Comstar's currency still retains some value as credit toward their surviving communication services.  It's not worth what it used to be, but it's not scrap paper either.

Pat Payne

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Re: Fate of the C-Bill
« Reply #5 on: 15 December 2020, 17:34:03 »
Close, but not exactly.  The Confederate currency was backed by faith in the Confederacy and its ability to make good for the sum in either precious metal or services rendered, and became absolutely valueless after their defeat.

Not even that. Confederate money was literally backed up only by the wishful thinking of the people who circulated it. Their paper currency consisted of overglorified promissory notes (or more charitably war bonds) that wouldn't be redeemable for gold or silver for 6 months to two years after the Confederacy had won the Civil War (spoiler alert:They didn't.). This rendered the currency effectively worthless at the time of printing and only carrying value inasfar as the bearer and the receiver felt the Confederacy had a credible chance of victory and the bills would eventually be redeemed for precious metals.

jasonf

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Re: Fate of the C-Bill
« Reply #6 on: 15 December 2020, 18:02:15 »
Close, but not exactly.  The Confederate currency was backed by faith in the Confederacy and its ability to make good for the sum in either precious metal or services rendered, and became absolutely valueless after their defeat. Comstar's currency still retains some value as credit toward their surviving communication services.  It's not worth what it used to be, but it's not scrap paper either.

Ah, I hadn't realized that they kept some comm services. Yes, then the C-Bill would have some value, which would help, but you probably would need either some "R-Bill" or faith in one of the existing other House currencies to avoid a financial meltdown.

On the other hand, it might not make things that much worse relative to an intergalactic communications blackout. I haven't gotten that into the Dark Age and later lore, so I couldn't speculate much more.
 

Wrangler

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Re: Fate of the C-Bill
« Reply #7 on: 15 December 2020, 18:16:05 »
Ultimately, i think they will be Kerenskies or K-Bills.  Not sure if Sea Foxes use them verse credits which i've heard in the past.
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