My guess is the Imperium via megacorps and banks has enough psychohistory tech to manage currency supply and largely eliminate inflation for the CrIMP. All that localized nasty can whipsaw though the local currency.Note that starship loans are REALLY low interest rates; including insurance in the payment drops them to a level where there's almost no inflation, or loans are below inflation levels.
I guess there's some kind of subsides by the Imperium, who knows it owns its very existence to the interstellar commerce.Note that starship loans are REALLY low interest rates; including insurance in the payment drops them to a level where there's almost no inflation, or loans are below inflation levels.
I would expect that using unrefined fuel would result in the insurer refusing to pay unless it was an explicit part of the insurance. Yes, they should pay if using unrefined fuel was had nothing to do with the loss. You're welcome to travel to the world of filing (which probably isn't the world you actually took out the policy on, but whatever world the insurance company finds it most profitable to have as their subsector office) and prove that they should pay up. Hopefully your bank sees this as the best way of them getting your debt to them covered and supports you.Obviously, there are a gamut of issues the insurance company has to cover. It could, for example refuse to cover the loss of a ship that is not documented as always using refined fuel.
Could the Imperial Credit be on the equivalent of the GOLD STANDARD ... there was no inflation when the Dollar was tied to a specific, fixed reference and only inflation in the GOLD standard when Spain dumped Gold from the New World on the Market pre-USA (or Rome started shaving the coins). Bring on the "Gold Pressed Latinium"!Note that starship loans are REALLY low interest rates; including insurance in the payment drops them to a level where there's almost no inflation, or loans are below inflation levels.
Could the Imperial Credit be on the equivalent of the GOLD STANDARD ... there was no inflation when the Dollar was tied to a specific, fixed reference and only inflation in the GOLD standard when Spain dumped Gold from the New World on the Market pre-USA (or Rome started shaving the coins). Bring on the "Gold Pressed Latinium"!
The United States Note issued during the 'fiat money' era (i.e., after the dollar was no longer defined as a fixed amount of gold or silver) was really no different in backing from the Federal Reserve Note; both were backed by the "full faith and credit of the United States. From the point of view of the consumer (you and me), there was no difference; from the point of view of the government, banks, and other high-finance institutions, the United States Notes were directly-issued 'notes of credit' and thus neither accrued interest nor contributed to the United States' national debt.What was the old "Red Seal" United States Note tied to, as opposed to the "Green Seal" Federal Reserve Note?
I had to come up with something that would work in that way. That came about because a ship crew (players) operating mostly outside the 3I couldn't rely on Imperial credits to be accepted. The item had to be something difficult or impossible to forge, portable, recognized for its value, making it usable pretty much everywhere so long as the planet was either high enough TL, about a 5 or 6 in this case assuming importation of a test / checking device that itself was readily available, or knew about this form of currency.Could the Imperial Credit be on the equivalent of the GOLD STANDARD ... there was no inflation when the Dollar was tied to a specific, fixed reference and only inflation in the GOLD standard when Spain dumped Gold from the New World on the Market pre-USA (or Rome started shaving the coins). Bring on the "Gold Pressed Latinium"!
As long as the choice is MINE ...Possibly. But what would the standard be? Iridium? Lanthanum? Many of the "precious metals" like gold, platinum, iridium, and palladium are actually not all that uncommon (especially in space); they are just hard to get to on Earth because gravitational sorting by density has placed most of ours down in the mantle and left it rarer up in the crust. A particular rare but useful isotope?
You're insuring a vessel worth ~40MCr. At 1/10th of 1% that's 40K per year, 3300/month. That's almost a crewman all its own. Perhaps "cheap" for a 40MCr asset, but its still impactful on the bottom live of a scrappy trader.Insurance for normal operations should be fairly cheap.
Technically too few gold backed dollars chased too much expansion of the western US and railroads, and the finding of vast silver deposits caused interested parties to change the laws that were bimetallic exchange backing from revolutionary times to go exclusively gold.Could the Imperial Credit be on the equivalent of the GOLD STANDARD ... there was no inflation when the Dollar was tied to a specific, fixed reference and only inflation in the GOLD standard when Spain dumped Gold from the New World on the Market pre-USA (or Rome started shaving the coins). Bring on the "Gold Pressed Latinium"!
Silver, FR notes to 1964; in 1968, existing silver certs were no longer redeemable save for Federal Reserve fiat notes.Possibly. But what would the standard be? Iridium? Lanthanum? Many of the "precious metals" like gold, platinum, iridium, and palladium are actually not all that uncommon (especially in space); they are just hard to get to on Earth because gravitational sorting by density has placed most of ours down in the mantle and left it rarer up in the crust. A particular rare but useful isotope?
What was the old "Red Seal" United States Note tied to, as opposed to the "Green Seal" Federal Reserve Note?
Silver coins to 1965. All later are fiat; mostly copper.
Note that during WWII, retaining gold coins was temporarily banned. All bank acquired gold US coin was to be sent back the federal reserve for returning to bar stock... hence the now rarity of 19th C gold eagles ($10) and double eagles ($20)...
This division persists to this day; the dollar is legally divided into ten dimes, or one hundred cents. This is why the ten-cent piece is labelled for a value of "one dime" rather than "ten cents"; the twenty-five-cent piece is an anomaly in that it is labelled "quarter dollar" rather than "twenty-five cents". The fifty-cent piece was similarly labelled "half dollar" - but note in both of the latter cases, it's explicitly "«fraction» dollar", not "one quarter" or "one half".An interesting minor detail: Dimes, Quarters and Half-Dollars were 90% Silver until 1964, after which Dimes and Quarters went to copper-nickel clad fiat. But Kennedy Half-Dollars retained a 40% Silver alloy from 1965-1970 before becoming copper-nickel clad fiat in 1971.
Many people don't realize that the basis of the American decimal currency system that was established in the 1790s had officially named tiers at each level (using the Spanish Dollar as the standard unit of account):
Mills were primarily used for accounting; no coin was ever minted with a value of less than a half-cent (5 mills) that I am aware of.
- Mill (x0.001 Dollar)
- Cent (x0.01 Dollar)
- Disme (x0.1 Dollar)
- Dollar (x1) (- based upon the Spanish Dollar)
- Eagle (x10 Dollar)
This division persists to this day; the dollar is legally divided into ten dimes, or one hundred cents. This is why the ten-cent piece is labelled for a value of "one dime" rather than "ten cents"; the twenty-five-cent piece is an anomaly in that it is labelled "quarter dollar" rather than "twenty-five cents". The fifty-cent piece was similarly labelled "half dollar" - but note in both of the latter cases, it's explicitly "«fraction» dollar", not "one quarter" or "one half".
A couple states minted mill coins... but never the feds.An interesting minor detail: Dimes, Quarters and Half-Dollars were 90% Silver until 1964, after which Dimes and Quarters went to copper-nickel clad fiat. But Kennedy Half-Dollars retained a 40% Silver alloy from 1965-1970 before becoming copper-nickel clad fiat in 1971.
Many people don't realize that the basis of the American decimal currency system that was established in the 1790s had officially named tiers at each level (using the Spanish Dollar as the standard unit of account):
Mills were primarily used for accounting; no coin was ever minted with a value of less than a half-cent (5 mills) that I am aware of.
- Mill (x0.001 Dollar)
- Cent (x0.01 Dollar)
- Disme (x0.1 Dollar)
- Dollar (x1) (- based upon the Spanish Dollar)
- Eagle (x10 Dollar)