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Independent Scotland Currency?

To propose and debate astonishing propositions of law. Please stay polite and rational.

Re: Independent Scotland Currency?

Postby dls » Sun Mar 02, 2014 9:49 pm

Mostly it is GOVERNMENTS that stand behind good debits (and the banks) because they can tax their citizens to cover it.


except of course when a putative government openly contemplates the possibility of not bothering to pay its debts.
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Re: Independent Scotland Currency?

Postby landlordnightmare » Sun Mar 02, 2014 10:51 pm

dls wrote:
Mostly it is GOVERNMENTS that stand behind good debits (and the banks) because they can tax their citizens to cover it.


except of course when a putative government openly contemplates the possibility of not bothering to pay its debts.


and except of course when the current (or next) regime realises that was a bad move in terms of fasciltating its own trade with outside parties for its governing people and the whole peoples

.... in the meantime it is possible some shrewd people might have bought the defaulted debt (at the right time) very cheaply and get back much more than they paid for it..... Markets.....
Note: I am not legally qualified, just been around a few blocks. The sorry cynic.
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Re: Independent Scotland Currency?

Postby jantra » Sun Aug 17, 2014 9:38 pm

Bit coin isn't a currency it is a commodity.

Coin may represent debt on one side, but there is a corresponding asset to underwrite it. The value of coin/currency being economic output
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Re: Independent Scotland Currency?

Postby Hairyloon » Sun Aug 17, 2014 9:54 pm

jantra wrote:Bit coin isn't a currency it is a commodity.

I thought it had folded.
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Re: Independent Scotland Currency?

Postby atticus » Mon Aug 18, 2014 7:15 am

You were ill informed.
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