Imperial Credits

[GabrielGABFonseca]

So, your math is right, but isn't the data in your Terra example in Crimps? So where did you get Dollars from? Or are you just calling the Terran Credit "Dollars"?

Earth's GDP in 2023 was 105,435 billion US dollars, as per the World Bank (couldn't find data for 2024 itself).

The World Bank, as in, the actual real international financial institution.

 

[Condottiere]

In Dragonlance, they used steel coins.

Bonded superdense might be a tad too heavy, so it could be crystal iron.

 

[J. L. Brown]

In Dragonlance, they used steel coins.

Bonded superdense might be a tad too heavy, so it could be crystal iron.

All of the SuperDense materials are impossible to fabricate without sufficient technology, so it would be a good counter to counterfeiting on lower-TL worlds. Plus, some SuperDense materials are very tough; they would make very durable coins. I have never really considered the Imperium making coinage, though -- but I love the concept.

 

[Terry Mixon]

All of the SuperDense materials are impossible to fabricate without sufficient technology, so it would be a good counter to counterfeiting on lower-TL worlds. Plus, some SuperDense materials are very tough; they would make very durable coins. I have never really considered the Imperium making coinage, though -- but I love the concept.

Might be some heavy coins.

 

[CordwainerFish]

Might be some heavy coins.

Make them waffer-thin, like after-dinner mints.

 

[Terry Mixon]

Make them waffer-thin, like after-dinner mints.

Remember those toy guns that used to shoot discs? You could make one of these on high-tech level world and have your own personal lethal weapon to slice your enemies apart. The inflation would really cut.

 

[Sigtrygg]

Hammer's Slammers power guns...

 

[MonsterX]

I assume that the Imperial Credits are legal tender everywhere in the Imperium, and therefore there is no need to exchange money within the Imperium. The size and importance of the Imperium also means its currency tends to be accepted in nearby space, but the further you get away, the more likely to run into issues. Because of the wide differences in technologies, cash is used, but so are digital methods of exchange.

We know that prices aren't really fixed, because players make money off of prices going up and down - the speculative trade system assumes that prices are not fixed. The fixing of values in, for example, the CSC is just a convenience, so that we have a common reference for how much certain things should cost: prices can and should change due to circumstances.

Forbidding the issuance of other currencies is not necessary, and would be economically counterproductive. The Imperium consists of vastly different planetary economies and vastly different levels of development, and those with little of value to export will run out of Imperial credits pretty quickly without the ability to issue local currencies. This will be a particular problem for places that don't produce high tech items. Having a local currency allows the local government to increase the money supply. If you print money locally, you can prevent the local economy stopping due to a liquidity crisis, ensuring that local citizens have the money to complete transactions with each other - though they will not be able to buy imports. You end up with a two currency system: Imperial credits will be more highly valued because you can also get imports, but local currency is good for local goods and services. In some worlds, however, it is all just Imperial credits, because there are enough around and no reason to run a local currency. Local currency is hard to exchange off world - depending on the importance of the plant which issued it.

Most of the time I ignore this, but just bring it up if it matters for the plot. Characters use their credits and only when there is some issue around it, or when it is needed to show the PCs something about the locality they are in, do to we go into details.

 

[CordwainerFish]

Remember those toy guns that used to shoot discs?

Ah, yes. A silly weapon for a more innocent age.

 

[Geir]

Ah, yes. A silly weapon for a more innocent age.

You'll shoot your eye out.

 

[Fluffy Bunny Feet]

Make them waffer-thin, like after-dinner mints.

Or like old coins a small "plug" of the dense valuable material in a larger coin that though heavier than normal from the "plug" is still a reasonable weight.

 

[CordwainerFish]

Or like old coins a small "plug" of the dense valuable material in a larger coin that though heavier than normal from the "plug" is still a reasonable weight.

So that's why the Cr 2 coin has a polar bear on it.

 

[Condottiere]

Make them sharp enough, and you have shuriken disc ammunition.

Exchange controls can also be that if you buy dirtside with Credit Imperiale, the sellers quote double that of the local currency, and have to surrender the foreign currency to the authorities, afterwards.

 

[J. L. Brown]

Or like old coins a small "plug" of the dense valuable material in a larger coin that though heavier than normal from the "plug" is still a reasonable weight.

Or have the valuable material at the edge; since it is tougher. The interior of the coins might be a (cheaper) similarly hard-to counterfeit substance -- maybe a thermal superconductor; or an ambient condition superconductor; or a transformation optic metamaterial. Something which is easy to test for a unique, seemingly impossible, property.

 

[MonsterX]

Exchange controls can also be that if you buy dirtside with Credit Imperiale, the sellers quote double that of the local currency, and have to surrender the foreign currency to the authorities, afterwards.

Currency controls aren't necessarily a corollary of a two currency system, though they can be; trying to mandate use of a local currency and restrict use of Imperial Credits is a double-edged sword: if a planet wants wants to attract IC into its economy broadly, overall it will be better to let off-worlders freely decide for themselves whether to exchange money for local currency and use that instead, or not, or to try to buy things with IC - which the locals will gladly accept. This will tend to make off-worlders feel confident bringing in their ICs and spending them, which means they will do more of it.

A planetary government may decide it doesn't care so much how much IC goes into the economy generally, but rather only cares about how much IT can collect: in that case, it would force off-worlders to exchange all the IC they want to spend at Customs & Immigration, they might also set a minimum amount, and stack a bunch of fees on entry - like the German Democratic Republic did in the old days. This will normally reduce overall entries, tourism and trade, but of the people who do come they can suck more out of them: more importantly, of the money they use, all the foreign exchange goes to the government, and none of it is wasted on lining the pockets of enterprising citizens (unless there are corrupt officials in which case they get a cut, too).

IMTU, I assume the Imperium doesn't allow these kinds of currency controls: Imperial Credits are legal tender throughout the Imperium. (Planets outside take many different approaches). Other currencies are not; they are only as good as the willingness of the seller to accept them. The issuing authority can back their "currency" in some way - accepting it as payment for taxes, for example, for local governments, or in payment for goods from a particular company (company scrip, at company stores) or backing it with gold, or whatever that particular authority wants to do, which will vary a lot.

 

[Condottiere]

Doesn't really restrict trade, just makes the cost thereof more costly, if you use any other currency than that issued locally.

Exchange rates would be set locally, either officially, market, or unofficially.

Barter should be interesting.

 

[Bryn the 2300AD guy]

An Imperial Credit has the value of one U.S. dollar in 1977, when Traveller was first published. It is worth about 5.3 current USD (or 6 using CPI).

The original value of the 2300AD Livre was three 1986 dollars, or about 9 current USD (10 for CPI).

 

[MasterGwydion]

An Imperial Credit has the value of one U.S. dollar in 1977, when Traveller was first published. It is worth about 5.3 current USD (or 6 using CPI).

The original value of the 2300AD Livre was three 1986 dollars, or about 9 current USD (10 for CPI).

Does this mean that the Crimp is 5 times less valuable as well currently in 1,105-3I as it was 40+ years ago in 1,105-3I? /sarcasm

 

[rinku]

Only for longer jumps now.

Used to be a Jump-2 High Passage cost you Cr10,000. Now it's Cr14,000.

Shocking.

The Jump-1 freight standard has stayed steady though.

 

[Shardan13]

I hope the travelers check the exchange rate before excepting any job in local currency. Some worlds have been populated for a long time and even 1% inflation over 3000 years can eye opening.