Originally by: Sirius Problem

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Edited by: Sirius Problem on 05/10/2008 15:38:07
Actually, the GTC market is in a lot of trouble due to weak loans made to those players that really couldn't afford the ISK payments.

Investors created loan agreements that allowed players to pay for GTCs over time, with interest, then sold these loan agreements to other investors.

As more GTC buyers/sellers/investors got into this market, it drove the ISK value of GTCs up, but since players could pay them off over time, more players bought them, often due to low, introductory interest rates. Hey, why wouldn't you buy 2, 3, 4, or more GTCs if it was only costing you a few million ISK a month? As a player, you were saving RL money.

However, all good things must come to an end. Many of the players who bought GTCs on these loans didn't really have the financial stability to afford the payments and began to default on their loans.

Now the GTC market investors are holding billions, if not trillions, of ISK of bad debt. Some investors have quite Eve and others are at risk of quitting.

Some of you may say, "Let them crash and burn. It was their greed that caused this mess". While that may be partly true, there is plenty of blame to go around, and the reality is that if immediate action is not soon taken, the entire GTC market could collapse.

If the GTC market collapses, it's not just the "greedy, rich" investors that will go down. The real pain will be felt by the players. As GTC loans and availability dry up, many players will be forced to leave the game. These players include miners, traders, industrialists, military and political leaders. Entire alliances could be at risk of falling. The Eve market would be hit very hard as corporations close and players lose their "jobs". Many items could become very difficult to find as supplies dwindle and prices soar.

So what can be done to save all of us, not just the rich, from certain doom? An immediate injection of ISK is required to keep these major GTC sellers/investors afloat. By doing this, we'll ensure that credit continues to flow and keep markets stable.

How much ISK is required? The estimate to stave off the immediate crisis is 700 billion ISK. If there are roughly 200K Eve subscribers, this is about 3.5 million ISK per subscriber. As you can see, it's very affordable and significantly less painful than letting the GTC market fail.

We must act now to save Eve. There can be no delay. Send your ISK (minimum 3.5 million) to this character. You can be assured that every single ISK will be used to fend off this crisis.

I cannot stress enough how dire a situation we are facing. Please, do your part to save this great game we all love so much and send your ISK today.

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