Victoria 2 Video Presentation

[Alexander Seil]

It looks so. But based only on gold and that is not very good news.

Well, how many economies with fiat money can you count in this time period? Granted, government printed money in wartime, but since they took it out of circulation afterward, I suppose it might as well be represented by loans.

Having the money be fixed except for a gold supply is at least a start towards an economy that doesn't rely on trade with the Martians, like Victoria. I always wondered who bought all of those goods on the World Market :rofl:

 

[telesien]

Well, how many economies with fiat money can you count in this time period? Granted, government printed money in wartime, but since they took it out of circulation afterward, I suppose it might as well be represented by loans.

Having the money be fixed except for a gold supply is at least a start towards an economy that doesn't rely on trade with the Martians, like Victoria. I always wondered who bought all of those goods on the World Market :rofl:

I have 5 words for you. Private bank money bill printing. It was popular thing and most of all as the tim progressed, it was less and less based on gold deposit and finally government (in UK?) once decided, that certain bank didn't have to convert its money bills to gold.

 

[Alexander Seil]

Yes, but if the same bills can be exchanged for a currency that's backed by gold, and circulates alongside said currency (rather than in a different country), I don't really have a problem with simply saying "all currency is backed by gold." At least as long as the fiat money issued by private banks is discounted depending on how much gold, if any, it has to back it, and whether the bank is solvent. I guess if you had the bills taken at par with the national gold-backed currency no matter what, there would be some bizarre problems arising....

 

[Dagfinn]

Pretty please...

@Johan or King:

Could we please have a HD screenshot of the population view and the production view as seen in the video?

Please?

 

[telesien]

Yes, but if the same bills can be exchanged for a currency that's backed by gold, and circulates alongside said currency (rather than in a different country), I don't really have a problem with simply saying "all currency is backed by gold."

I would have to quote myself. Once it was decided, that bank can no longer be forced to pay the gold, it was no longer backed by gold. And even before it, was backed by gold in ever decreasing proportion...

 

[Alexander Seil]

I would have to quote myself. Once it was decided, that bank can no longer be forced to pay the gold, it was no longer backed by gold. And even before it, was backed by gold in ever decreasing proportion...

Not backed by gold in what sense? That the bank doesn't have to keep gold on hand to exchange for the notes, or that the bills it issues are to be taken at par with bills backed by gold, no matter what its gold reserves are? In the first case, its bills would simply be discounted, and the monetary base doesn't really expand in any sense, any more than if you burnt a dollar and replaced it with 4 freshly-minted quarters.

 

[telesien]

Not backed by gold in what sense? That the bank doesn't have to keep gold on hand to exchange for the notes, or that the bills it issues are to be taken at par with bills backed by gold, no matter what its gold reserves are? In the first case, its bills would simply be discounted, and the monetary base doesn't really expand in any sense, any more than if you burnt a dollar and replaced it with 4 freshly-minted quarters.

In every sense. When bank doesn't have to pay in gold, it can expand the money supply just the way they want it. And they will be accepted just because they are issued by trustwothy and wealthy bank. How does bank grant loans? They open the account for the client and just add the money there, issue bills no longer required to be backed by gold and those money are spent and so they got to the circulation. Nowadays this problem is called electronic money, but it existed long before via tha accounting systems.

 

[Alexander Seil]

In every sense. When bank doesn't have to pay in gold, it can expand the money supply just the way they want it. And they will be accepted just because they are issued by trustwothy and wealthy bank. How does bank grant loans? They open the account for the client and just add the money there, issue bills no longer required to be backed by gold and those money are spent and so they got to the circulation. Nowadays this problem is called electronic money, but it existed long before via tha accounting systems.

But that assumes no discounting at all, i.e., that the devaluation of currency is absorbed by the money supply as a whole via inflation, rather than by the bank's bills getting less and less acceptable the more it prints. I suppose that's an empirical question, but then how prevalent was private printing of money in this era, outside of the US for a time? What fraction of the money supply would these bills constitute? And what would the gameplay effects be?

 

[telesien]

But that assumes no discounting at all, i.e., that the devaluation of currency is absorbed by the money supply as a whole via inflation, rather than by the bank's bills getting less and less acceptable the more it prints. I suppose that's an empirical question, but then how prevalent was private printing of money in this era, outside of the US for a time? What fraction of the money supply would these bills constitute? And what would the gameplay effects be?

If you ask what I would like to see in the game, it would be money supply based on credits or at least economical activity. Since the WM has the same prices for the whole world (I guess), I would prefer more flexible money supply reflecting the fact, that only part of money was based on actual gold. Just picture how often cappies and artisans use promissory notes or bills of exchange to pay.

 

[Alexander Seil]

If you ask what I would like to see in the game, it would be money supply based on credits or at least economical activity. Since the WM has the same prices for the whole world (I guess), I would prefer more flexible money supply reflecting the fact, that only part of money was based on actual gold. Just picture how often cappies and artisans use promissory notes or bills of exchange to pay.

Eh, I think here is where you really are wrong. If we had money not backed by gold, we'd have different currencies, which creates all kinds of epic headaches about WM pricing, exchange rates, capital controls, etc. It's all very simple if we have money that's freely convertible.

 

[telesien]

Eh, I think here is where you really are wrong. If we had money not backed by gold, we'd have different currencies, which creates all kinds of epic headaches about WM pricing, exchange rates, capital controls, etc. It's all very simple if we have money that's freely convertible.

What I'm trying to say here is that money=\= banknotes and coins. Right now I don't want to go into some specific depth, because I stil don't know how the money supply will actually function in the game. Right now I just consider the whole gold depandancy as not exactly good news. That is all. If Paradox will somehow manage to make it all work, I won't have further complaints. Right now I can just be slightly dissatisfied, that something I consider important and interesting part of economy isn't there at all. But maybe it will all work. I will wait and see.

 

[Ex Mudder]

It shows a lot of new things. Production screens, factory management, etc.

And Western Europe looks great too. Especially the Dutch coast.

Nice find. I liked the factory management screen the most I think. Looks impressive and workable. Looking forward to that Dev Diary.

 

[Sudaxe]

Excellent.

 

[unmerged(22834)]

I feel like I'm fiending for a Vicky2 eight ball and this video has only given me a whiff leaving my craving for the game not only unsatiated, but heightened

 

[Red_Communist]

Looking great! The map looks A-M-A-Z-I-N-G. I like how this game is shaping up. Wow, and there's what, like 5-6 months to go? This games gunna be like a masterpiece.

 

[JeanNYGUARD]

Oh Man... I love it and hate it when they have videos.

Love it Cause of All The Incredible footage we get to see. Victoria 2 looks Awesome. Cant wait to Pre Order.

Hate it Cause we have to wait so Long till release

Paradox... Incredible job. This is going to be a amazing game.

 

[Minarchist]

OMGOMGOMGOMGOMGOMGOMGOMGOMGOMGOMGOMG

uh

I mean...

Very fine presentation, my good man, very fine indeed.

Post of the month!

And I couldn't agree more