Friday, January 16, 2009

Deflation, Inflation, Oil, and Spacebucks

So we obviously are in the worst recession since Jesus led a hummus strike in Palestine. While playing Gears of War 2 last night, a problem arose. My friend did not have the new "combustible map pack." We suggested that he buy them with his xbox live points. He pointed out that his points were on his other account and that he didn't know if they could be transferred or traded to his present account. This lead us to a revelation. We should created a currency market for videogame points. The Spacebucks exchange would be a place where wii, xbox and ps3 "spacebucks" could be traded in exchange for each other as well as US Dollars. If we could take out insurance on the value our spacebucks, we could hedge against inflation or deflation (even finance home purchases.) This market would be obviously more transparent than any other financial market. As a result of the transparency, spacebucks would be worth more than the US Dollar relative to the videogame currencies. Also, we may as well throw a conversion rate for WoW gold and CnC Tiberium to spacebucks as well. So right now, the $10 gets you 800 xbox points, well 7 spacebucks would get the same amount. Seems like a no brainer. The dollar will ultimately crash, but spacebucks will have the same purchasing power, a win win for the gamers and the game companies. We could start buying actual commodities in spacebucks, a stable currency would create less volatility in the actual gold and oil markets. Lastly, the money supplies can be controlled by the central banks of Nintendo and Microsoft. Sony's damn near insolvent, so they would be a lot like the Iceland of the spacebucks exchange. Videogame companies have less debt than the federal reserve and the central banks across the world, so this could lead to broader stability in the markets. So let us write to congress as well as our facefudge pals, our mayonnaisespace compatriots, and twitter our way out of this recession. May Gears bless us, and may Gears bless this United Spacebucks of America.

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