Savings Accounts

Hersfold

Hersfold

TNPer
While I was posting the "Now Open" topic, I thought of something - could one way of earning money be through savings accounts?

I've already set something up where nations can set aside some cash for later use - they can use this as a checking account of sorts, but they're not going to get any extra money by putting it in there. Should we set up some sort of interest rate to help make these more useful? And if so, what?
 
How about Certificates of Deposits where you put in an amount of money for a specific amount of time and give a return of a certain percent at a pre-determined APR?

And then there are T bonds. I like T bonds!
 
Savings accounts can be used to cause the withdrawal of currency from circulation (serving as a control on inflation, right?) but one needs to pay some sort of interest in the investment in order to make the use of the account worthwhile.

Same thing for certificates of deposits, except that the funds would not be accessible during the term of the certificate, and that might be less attractive for investment. The only counterbalance to that is of course a even higher interest rate than it would be for a savings account.
 
The easiest way of earning money through this would be through some form of investment like bonds or shares. Although of course you'd then need some fom of business structure behind that, into which people would be willing to invest - and work out how they would obtain a return etc...
 
We had suggested a sort of stock market, but it never got off the ground, mainly because we weren't sure what to base it off of. I still say the forum stats would work out best.

As for the savings accoutns, we definitely need to make these useful. Currently, A-I is the only one using the thing, and his money is basically just sitting there. Maybe someone a little better at economics could suggest a good interest rate for this.
 
I like the idea of it being a regional bank. My idea of a North Pacific university would be good if the instructors could visit TNP and be paid money from a regional endowment for education, which would fit in a general account for their services. This would consist of several thousand TNP dollars, all contributed by the members (it's no fun if it just magically shows up :P) and the government.
 
I agree with a regional bank. I spoke of a regional currency earlier.


Also, why not do interest rates? Maybe evne fix a rate of inflation heehee, which, of course, would rendfer any monetary policy useless.

At the very least, for savings accounts, why nto do a "quarter" at the end of each two weeks or so and give interest payments of a flat 2% rate or whatever. Every two months would be a financial year.


Oooh idea...TAXES!....BUDGETS KEYNES'S FISCAL POLICIES!!!


*leaps in economics joy, even though he is mroe of a supply-sider.*
 
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