MUNN CITY, MUUNILINST - The InterGalactic Banking Clan's timely leadership in currency exchange technology and infrastructure is among the factors contributing to the organization's 18th straight quarter of increasing profits.
IBC Chairman San Hill (left) and
VC of Communications Lo Vapeet.
"For our customers choosing to strike out on their own, continuing to trade in Republic credits is not in line with their independent spirit," said Lo Vapeet, the IBC's Vice-Chair of Communication, in a written statement. "It used to take two years and 14 filings to register a new currency. We're pleased to have reduced the process to under 30 minutes, with a basic threshold and exclusivity agreement."
Such easy access to currency may be perilous, says economist Argee Beck. "These systems leave the Republic and are out on their own in the galaxy for the first time. They get seduced by an introductory one-to-one exchange rate and the chance to put their own names on money."
"They forget the economic basics that a credit is only worth what someone else will give you for it," Beck continues. "Look at the Toong'L system. After only eight months, one Republic Credit will buy you 15 million King Kikipi credits. The Kikipi reserve is actually just a room full of Wocket Festival ornaments."
With new currencies being registered at a rate of 20 per day, businesses have been quick to license the IBC's InterGalactic Currency Exchange System that makes complicated conversions transparent for a modest transaction fee.
"The InterGalactic Banking Clan doesn't care if these credits go up or down. If enough systems leave the Republic, they'll be getting a percentage of every transaction in the galaxy," warns Beck.
"The registrants for the next 500 approved currencies will receive a deluxe six-slot therma-slice, compliments of the InterGalactic Banking Clan," replied Vapeet.