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Baughn comments on Harry Potter and the Methods of Rationality discussion thread - Less Wrong
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One more thought, this time money related stuff:
On the one hand, the magical and muggle economies are sufficiently separated that Gringots seems to not even notice the possibility of arbitrage...
But on the other hand, we're told that anyone who transfigures stuff to look like money, even muggle currency, is legally at war with the goblins. If the goblins are tracking muggle money enough to at least notice this sort of thing and care about it, that seems at odds with them being sufficiently ignorant of the muggle economy to not notice the arbitrage possibilities.
You shouldn't neglect the possibility that it's a law written because it seemed like a good idea, without any real way of enforcing it in general.
There are certainly plenty of those around.
Professor McGonagall more or less explicitly said though that they have ways of finding out, that this matter isn't an abstract law but is very very enforced.
Yes, but wouldn't it be reasonable to think they only have ways of finding out when presented with the money in question?