The goblins control the exchange rate of pound to Galleon, as Gringotts is the only place where Muggle-raised magical children can acquire Galleons. (At least in Britain. We don't know how wizarding banking works in other countries.) The goblins can increase or decrease the rate as suits their goals at any given time.
I like your thoughts on the Potters.
Also note that Bowman Wright, inventor of the golden snitch, was a half-blood from Godric's Hollow. Where did he get the gold for the snitches? Was he related to the Potters?
The goblins control the exchange rate of pound to Galleon, as Gringotts is the only place where Muggle-raised magical children can acquire Galleons. (At least in Britain. We don't know how wizarding banking works in other countries.) The goblins can increase or decrease the rate as suits their goals at any given time.
Do we know if Goblins do this completely independently of the Ministry, though? Or is the Ministry using the Goblins to manipulate the economy (and then blaming it on the goblins)?
Did you mean gold to use in the actual making of the snitches or gold as in monetary backing or start-up money?
Because while the snitches are 'golden' I don't believe it has ever been stated that they are actually made of gold instead of merely a golden color or perhaps something similar to electro-plating?
Considering a snitch really can only be used once, it would seem likely that they would be melted down once caught, so the gold could be reused.
It would also put an even worse light on James having stolen a school snitch.
Altho' IF actual gold IS used in the snitch's manufacture, then I'm now imagining a partnership with Flamel to get the gold at a 'good' price - *snicker* - the cost of lead and something extra for his expertise and time.
I do rather wonder just how much the goblins might have disliked the Philosopher's Stone and thereby Flamel.
Re: golden snitchesattilathepbnunJanuary 20 2015, 02:59:55 UTC
Snitches can only be used once? Are you sure? I don't remember that being mentioned. Maybe it's the spells that expire, and the Snitch itself can be reused, once the correct spells have been re-applied?
Those thoughts on the manipulation of wizard feelings towards Muggles, in order to thus manipulate the economy, are *int-eresting*, indeed. I wouldn't be surprised if that *was* how the Potters, and other wealthy magical families, *started* their fortunes. Since James was uprejudiced enough to actually marry a Muggleborn, however, I would guess they've been out of that aspect for some generations. Considering the present-day Malfoy attitudes towards Muggles and Muggleborns, though, I'd guess *they* are still actively involved in such manipulation
Comments 8
I like your thoughts on the Potters.
Also note that Bowman Wright, inventor of the golden snitch, was a half-blood from Godric's Hollow. Where did he get the gold for the snitches? Was he related to the Potters?
Reply
Do we know if Goblins do this completely independently of the Ministry, though? Or is the Ministry using the Goblins to manipulate the economy (and then blaming it on the goblins)?
Reply
Because while the snitches are 'golden' I don't believe it has ever been stated that they are actually made of gold instead of merely a golden color or perhaps something similar to electro-plating?
Considering a snitch really can only be used once, it would seem likely that they would be melted down once caught, so the gold could be reused.
It would also put an even worse light on James having stolen a school snitch.
Altho' IF actual gold IS used in the snitch's manufacture, then I'm now imagining a partnership with Flamel to get the gold at a 'good' price - *snicker* - the cost of lead and something extra for his expertise and time.
I do rather wonder just how much the goblins might have disliked the Philosopher's Stone and thereby Flamel.
Reply
I don't remember that being mentioned. Maybe it's the spells that expire, and the Snitch itself can be reused, once the correct spells have been re-applied?
Those thoughts on the manipulation of wizard feelings towards Muggles, in order to thus manipulate the economy, are *int-eresting*, indeed. I wouldn't be surprised if that *was* how the Potters, and other wealthy magical families, *started* their fortunes. Since James was uprejudiced enough to actually marry a Muggleborn, however, I would guess they've been out of that aspect for some generations.
Considering the present-day Malfoy attitudes towards Muggles and Muggleborns, though, I'd guess *they* are still actively involved in such manipulation
Reply
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