Karma and Laurels
karma can be used for temple armors when you get to orr if you want. can also be used to buy other things through out the game for various things like if you are trying to craft a legendary weapon. there are laurel vendors that have things you get like ascended trinkets. if you have no desire for that just trade your laurels for t6 mat bags and either sell them or keep them for future use.
Post expansion they are introducing a mastery that will unlock special vendors selling currently unavailable recipes for karma.
But right now, primarily it’s Temple Exotic armor.
http://wiki.guildwars2.com/wiki/Temple_armor
Laurels were originally a currency to get Ascended accessories without doing Fractals. They’ve added a lot more things you can get since Laurel Vendors were introduced. If you want to turn laurels into gold Tier 6 mat bags for 1 laurel each is roughly 80-90 silver post fees and taxes.
http://wiki.guildwars2.com/wiki/Laurel_Merchant
http://wiki.guildwars2.com/wiki/Laurel_Merchant_
RIP City of Heroes
Karma can be used also to buy all the cultural weapons in the game. The racial T1 and T2 will drop from mobs but there is still the 5 sets of T3, the Lionguard, Ebonguard and the Pirate weapons as well as all the armor and weapons from heart vendors.
ANet may give it to you.