RFTIT Tumblr Weekly Roundup


Hello everyone! I hope my American readers had a good Turkey Day and I congratulate my global readers for becoming comparatively more healthy than they were before. Politics of the Iron Islands Part II is done and will be up on Monday, but in the meantime, there’s some excellent Tumblrs for you all:


5 thoughts on “RFTIT Tumblr Weekly Roundup

  1. Grant says:

    Even if they couldn’t buy Westeros (not without considerable backlash) the Lannisters could make a merchant empire if they wanted, but they probably would consider that to be dishonorable.

    Since I found it interesting, is the Masks quest still ongoing?

  2. Keith B says:

    The Iron Bank may have to accept repayment of their loans, but they probably wouldn’t be happy about it. They don’t really want to be paid back; they’d rather keep the debts rolling over forever as long as the interest is paid. The Iron Bank is in the business of lending money. If they’re repaid they’ll need to find another borrower. The monarchy probably owes the Iron Bank more than a million dragons, and that’s a lot for them to lend out. They can’t afford to keep the money idle; they surely have very high expenses. Agents like Noho Dimittis and Tycho Nestorius must be highly paid if they’re empowered to make loans and negotiate on behalf of the bank, and have to face physical danger as well. They need enforcement agents, since they can’t very well start a war every time some merchant is unable to pay. Financial institutions aren’t evolved enough to do all business via letters of credit, and there are no wire transfers, so the bank needs to be able to ship actual currency, which implies guards, transport fees, and insurance. It’s much simpler to lend a million dragons to the Iron Throne than a thousand apiece to a thousand merchants.

    If the Lannisters are as rich as they’re supposed to be, it makes little sense for them to have repayment problems with the Iron Bank and the Faith. They could break the Iron Bank if they chose to. Cersei could just as well have built the ships she wanted with Lannister gold and have them belong to Casterly Rock instead of the Iron Throne. The show tried to get around the issue by declaring that the Lannisters’ gold mines had been exhausted. That may not have been a very satisfactory solution, but at least they recognized the problem.

    • I think it’s a bit more complicated than that:

      – What’s the value of the loan relative to the size of the reserve and the portfolio? A lot of medieval bankers were ruined by monarchs who refused to pay them back.

      – What’s the risk of future non-payment of interest? Keep in mind, the Iron Throne is paying its interest with new loans, which is a very worrying sign.

      – How much demand is there for capital outside of the Westerosi monarchy?

  3. fjallstrom says:

    Saw the tumbler discussion about the pink letter and wanted to pitch in my two eurocents.

    Reasons for it to be fake: Handwriting, pink smear instead of clear wax imprint, no skin despite a letter about flaying, knowledge of actions at the wall. Besides, does Winterfell even have ravens to send with Luwin dead and the Dreadfort maester in captivity at Stannis camp?

    Now, none of those are conclusive in and of themselves. But together they paint a picture of a fake. But who is the writer?

    The writer has knowledge of what is happening at the wall, in Winterfell and has or fakes knowledge of the battle of ice. The writer also has ravens and goads Jon Snow, which if you know him means he will rush of to do something rash, probably bring an army to Winterfell or die trying. The writer also has access to ravens.

    Mance? No.

    Stannis after faking his own death. He has the knowledge (he knows Winterfell through Theon), but it is not his MO to be sneaky.

    So, I am leaning towards the letter being fake, but don’t know who sent it.

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