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Thu, Jan 26, 2012
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MuggleMike 1/26/2012, 11:00 AM edit delete
MuggleMike
Seriously, how did Hermione get wizard money? Both of her parents were muggles. Did she get scholarships and grants? Can muggle money be transfigured into galleons and knuts? Won't that cause massive inflation?

Side note: I have no background in economics.

Comments:

Rain Kllar 1/26/2012, 11:51 AM edit delete reply
Well, I'm no expert, but I remeber the books saying something about Hermione's parents standing outside of gringotts, having just exchanged the muggle money for wizard money. Who knows, though, really? the goblins must just be extra talented. Although, you know, maybe they sell the muggle money. After all, haven't you ever wondered where Hagrid got HIS muggle money in the first book? I wouldn't think that that's something he just kept on hand :)
Guest 1/26/2012, 11:57 AM edit delete reply
Yep, Muggle money can be exchanged for wizard money! Although JKR says that the goblins release the pounds they're given back into the Muggle economy, which . . . raises more questions than it answers, in all honesty.
MuggleMike 1/26/2012, 2:15 PM edit delete reply
MuggleMike
But then why would the wizards take their money in the first place??? J.K., you are an enigma.
MuggleMike 1/27/2012, 4:28 AM edit delete reply
MuggleMike
When did Hagrid use muggle money? I don't remember that part.
Spinnerlink 1/27/2012, 7:09 AM edit delete reply
Spinnerlink
its when he was with harry in the begining of the first book.
Spinnerlink 1/26/2012, 3:03 PM edit delete reply
Spinnerlink
another thing, there is a fund for people who cant aford to go to hogwarts. Dumbledore mentions this to Tom Riddle when they first meet.
MuggleMike 1/27/2012, 4:27 AM edit delete reply
MuggleMike
I suppose that would be the way to go. Have a fund paid for by the (wizard?) taxpayers for the benefit of the community.
Big Mac! 2/2/2012, 10:22 AM edit delete reply
Big Mac!
lol irony
Jon R. 2/2/2012, 1:50 PM edit delete reply
Well, tuition wise, you need to remember that in England they have WAAAAY better education social services than we do. Its pretty well established that Hogwarts is essentially a Wizard public school. Considering the control the Ministry has over it.

Regarding money, its not really that hard to believe that Gringotts does exchanges for Muggle money to wizard money. Currency is usually a strong part of a nations culture. One of the reasons why England didn't join the EU because they would never stop using the English Pound.

Gringotts, being a bank, would keep reserves of foreign currency for all sorts of reasons. They probably own or have relationships with other Muggle banks. Its my impression that Wizard money isn't backed by full faith and credit, but backed by gold, gems and other rare minerals. We are talking about GOBLINS. So, it makes sense that they probably exchange muggle money with Muggle banks for the equivalent in rare materials such as more gold (but not diamonds, a Goblin is way smart enough to know that diamonds are effectively useless.)
MuggleMike 2/3/2012, 1:25 PM edit delete reply
MuggleMike
So Hermione's parents just pay pounds to Gringotts and they get back Galleons? That makes sense. Doc Brown did kind of the same thing by getting money from all different times in the past/present/future.