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New Currency for a new Country
Comments
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actually, Scottish pounds aren't legal tender in England and no-one has to accept them
Yes, you are correct within the very narrow definition of legal tender, just as the notes used in England and Wales are not technically legal tender in Scotland or Northern Ireland.'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
IveSeenTheLight wrote: »Just a pedantic point, but Scotland is not a new country.
We have been a country for 1,000's of years.
Anyway, back to your main points of your posts.
your ignorance of Scotland's history is as breath taking as your ignorance of European history which is as breath taking as your ignorance of the economic issues that affect the potential independence of Scotland0 -
I too think setting up its own currency is the way to go forward. The unofficial pound has too many drawbacks and they would struggle to sell bonds, the official pound ties them to UK monetary policy which flies in the face of becoming independent!
No much better to create their own currency, which will be difficult but doable. Im sure they would find some people willing to buy bonds in their new currency. Have no idea how they would transition but its obviously possible - just look at what countries joining the Euro do.
I guess one key issue would be whether the Scottish people would buy bonds from their own government.0 -
there can only be one world price for a barrel of oil of any given quality, irrespective of which currency is use
.
Uhm, theres no such thing as a world price for oil. There is the OPEC cartel price, Brent Crude price, West Texas price, just off the top of my head.Faith, hope, charity, these three; but the greatest of these is charity.0 -
the currency issue isn't about what currency you use for your mortgage it's about
- what happens if a Scottish bank fails
- how much does the Scottish government pay if it borrows money on international markets
- if a Scottish bank has a temporary liquidity problem how is that dealt with
- how are the savings of Scottish people protected.
uncle alex could have told you how this would be handled in the various currency option but he didn't do so.
many of these problems would disappear if canny Scots put all their savings in RoUK banks and let their own banking sector disappear.
I'm sure there would be a lot of negotiating and movement on what currency Scotland runs.
I've yet to hear an argument of why a prosperous nation of similar size has become defunct on currency issues.
How does Denmark for example survive.
Like I said before, I see through the posturing from both sides on the currency issue. Both are trying to play their hand stronger than it is.
What it looks like is one side actively trying to scare voters and the other trying to ease fear of change by stating there will not be one.
Whatever currency Scotland finally decides on, we will still be able to run the country effectively.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »I'm sure there would be a lot of negotiating and movement on what currency Scotland runs.
I've yet to hear an argument of why a prosperous nation of similar size has become defunct on currency issues.
How does Denmark for example survive.
Like I said before, I see through the posturing from both sides on the currency issue. Both are trying to play their hand stronger than it is.
What it looks like is one side actively trying to scare voters and the other trying to ease fear of change by stating there will not be one.
Whatever currency Scotland finally decides on, we will still be able to run the country effectively.
A moron can see that countries can run their own currencies.
Ireland and Iceland being two very relevant examples and Denmark too.
Given we agree then why does uncle Alex lie and refuse to discuss the pros and cons of the various options?
why does he tell you how scottish saving will be protected?
or how bank fails will be dealt with
or bank liquidity issues
it's not because they can't be dealt with but uncle Alex is fearful that if the truth is known it may put people off voting YES
anyway I've already told you a totally viable option
- all scot save in English banks
-move all scots banks to England
-government borrowing only from Scottish people
I commend you to doorstop people and tell them what is likely to happen0 -
Given we agree then why does uncle Alex lie and refuse to discuss the pros and cons of the various options?
It's political brinkmanship and let me tell you , both sides are at it.why does he tell you how scottish saving will be protected?
or how bank fails will be dealt with
or bank liquidity issues
We've been over this time and again.
How can you decide on what will happen until the negotiations have concluded?
This is why there is a time period post referendum to negotiate the details.
I would have preferred for this to have happened earlier, but again, back to brinkmanship, there's a reason why better together want to cloud this issue in order to create confusion and doubt.it's not because they can't be dealt with but uncle Alex is fearful that if the truth is known it may put people off voting YES
Actually I think it's the contrary, it's the better together that doesn't want the issues clarified, because they know that outcome would convince more to go independent.
If it was as you inferred, the better together should have been screaming to conclude the negotiations in the last 2-3 years to slam shut the door on Independence. but alas, that's not the case.
I think the last televised debate showed that the audience was apathetic to bettertogethers one trick pony attack on currency.
The audience realise there will be a viable option in the endI commend you to doorstop people and tell them what is likely to happen
That is not going to happen, because I am not a politician and will not be part of the negotiating team.
It's interesting that Alasdair Darling and Alastair Carmichael have both agreed they would join the Yes negotiating team to argue for the mandate put forward by the people of Scotland:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Voyager2002 wrote: »Scotland could open its own oil and gas trading market, priced in another major currency (Euro, for instance).
Alternatively, there is nothing to stop Scotland simply using the US dollar in the same way that other countries do (Ecuador, Liberia, in practice Panama...) That would mean giving up control of monetary policy, something that would also happen if Scotland were to continue using the pound without a formal agreement with London.
You cannot be serious?A journey of a thousand miles begins with a single step
Savings For Kids 1st Jan 2019 £16,112
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The World's population has a huge amount of say in the currency they use, via the Government that they elect.
Do they?
I've voted for approx 22 years, lived in different countries with different currencies and not once have I been involved in a currency choice debate.
Now I accept that in this instance, there is a decision to be made but I very much doubt there would be a referendum on what currency to use.
What examples can you provide from the world population for referndums on currency change and are there any cases of these being reversed later on.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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