Original Post
Choose an arbitrary amount: one million.
Ok, upon entry into the game, each player has one million MU (monetary units). This money is on deposit with one of the many computer controlled banking institutions. These banking institutions offer poor service and high fees. Each banking institution has a unique identifying number. Each account number with each institution is a unique number. A player may have as many accounts as he wishes. The game enforces unique institution numbers and unique account numbers. This cannot be fiddled by players.
These game controlled banking institutions charge monthly fees, and per transaction fees which are a percentage of the size of transaction. These fees are high. Theoretically, these game controlled institutions invest money through various channels, but this invested money is generally not available to players.
Also, upon entry into the game, each player creates a name for himself and is assigned a universal ID number.
To transfer money from one player to another, (say, from player A to player B), player A needs needs the account number and institution number where player B keeps his account. Presumably, player A gets this information from player B through communication.
The reason for the high fee structure of the game controlled banking institutions is to encourage players to develop their own banks. Doing so requires money expenditure up front, not making it easy to do so. Likewise, advertising is necessary to attract business (from other players).
The incentive for players to use player controlled banks is to get around the high fee structure of the game controlled banks. The incentive for players to develop their own banking instititions is to generate revenue (from fees) and to have money to invest (or lend).
When a player deposits money into a player controlled bank, the money literally goes into control of the player who operates the bank. The player who controls the bank may freeze any account, freeze all accounts, or only make a selective amount of money available to the player who has the money on deposit. All fees are set by the player who controls the bank.
Any player controlled bank is automatically (by the game) assigned a unique institution code as is done for the game controlled banks. Any account for a player is assigned a unique account number (within that bank).
Players who operate banks are given an interface to toggle features of player''s accounts. Player operated banks are automatically wired into the game controlled banking network, facilitating transfer of funds from one account to another account. Players who have accounts can do this at will without requiring maintenance from the owner of a bank. However, these account transactions may not operate if the owner of the bank has frozen that feature for that player.
Players who own banks (and players who don''t own banks) may transfer money from one player to another for the purpose of payment, whether that payment is for a rental fee, paying a bill, buying something, lending money, etc. The game does not care.
All money which is on deposit with a particular player owned bank is available to the owner of that bank. The owner of the bank has what is called a ''master account'' number (unique from other accounts with that bank) to allow the owner of the bank to send and receive money just like any other player does.
If a ''run'' on the bank is made, and the owner of the bank does not have all available funds (because a large portion of the money is invested or lent out) then naturally that money won''t be available, and repercussions will follow.
It is entirely possible that any player may create a business to rate banks, based on auditing. It is also entirely possible that other players may choose to insure the funds of banks.
What has just been described is the ability for money to be transfered between players throough an unalterable game mechanism, without causing interference to monetary policy, or who controls it.
