Discussing UK law. Links: swarb.co.uk | law-index | Acts | Members Image galleries

Independent Scotland Currency?

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

Re: Independent Scotland Currency?

Postby Hairyloon » Mon Feb 17, 2014 11:17 pm

landlordnightmare wrote:
Hairyloon wrote: Today, I read about a claim that there is a fundamental flaw in the software. If true, then it would seem they are sunk, but I think the concept is a good one.


There is a fundamental flaw in the concept (forget the software). Any 'coin' represents a debt.

Really?
It is my understanding that most currencies were originally built on the gold standard until the first proper banker realised that if you only pretend to have the gold, then that is good enough unless you get caught...
Take me to your lizard...
User avatar
Hairyloon
 
Posts: 9430
Joined: Thu Nov 01, 2012 3:12 pm
Location: From there to here and here to there... Funny things are everywhere.

Re: Independent Scotland Currency?

Postby Hairyloon » Mon Feb 17, 2014 11:21 pm

atticus wrote:This is where cbcbcbcbcbcb's view on the nature of debt would be helpful.

is this it? Or this?
Take me to your lizard...
User avatar
Hairyloon
 
Posts: 9430
Joined: Thu Nov 01, 2012 3:12 pm
Location: From there to here and here to there... Funny things are everywhere.

Re: Independent Scotland Currency?

Postby landlordnightmare » Mon Feb 17, 2014 11:55 pm

Hairyloon wrote:
landlordnightmare wrote:
Hairyloon wrote: Today, I read about a claim that there is a fundamental flaw in the software. If true, then it would seem they are sunk, but I think the concept is a good one.


There is a fundamental flaw in the concept (forget the software). Any 'coin' represents a debt.

Really?
It is my understanding that most currencies were originally built on the gold standard until the first proper banker realised that if you only pretend to have the gold, then that is good enough unless you get caught...


You live in the past.... a long time past.....

They issue on a promise to pay ... the 'gold standard' disappeared a long time ago.... One Mr. Brown (was he Scottish?) sold most of the UK Gold we had left just before it went up in value almost 10 fold.... those scots are always canny? Did you check out how much the two Scottish Banks ripped out of our economy by their massive failures? How many English Banks actually failed? Ooops - I think it was none!
Note: I am not legally qualified, just been around a few blocks. The sorry cynic.
landlordnightmare
 
Posts: 2001
Joined: Wed Feb 06, 2013 2:37 am

Re: Independent Scotland Currency?

Postby Hairyloon » Tue Feb 18, 2014 12:17 am

landlordnightmare wrote:
Hairyloon wrote:It is my understanding that most currencies were originally built on the gold standard until the first proper banker realised that if you only pretend to have the gold, then that is good enough unless you get caught...


You live in the past.... a long time past.....

They issue on a promise to pay ... the 'gold standard' disappeared a long time ago....

Consider the meaning of "were originally built".
Take me to your lizard...
User avatar
Hairyloon
 
Posts: 9430
Joined: Thu Nov 01, 2012 3:12 pm
Location: From there to here and here to there... Funny things are everywhere.

Re: Independent Scotland Currency?

Postby landlordnightmare » Tue Feb 18, 2014 12:57 am

Hairyloon wrote:is this it? Or this?


Just watched the first link - quite good to be honest - but being as I am I would have to disagree with parts too (especially the US accent!) mostly I would agree but a few key failures on explanation that I would like to think I could take them apart on......

Will try link two now...... ho hum :!:
Note: I am not legally qualified, just been around a few blocks. The sorry cynic.
landlordnightmare
 
Posts: 2001
Joined: Wed Feb 06, 2013 2:37 am

Re: Independent Scotland Currency?

Postby Hairyloon » Tue Feb 18, 2014 1:23 am

landlordnightmare wrote:a few key failures on explanation that I would like to think I could take them apart on...

I will look forward to that...
Take me to your lizard...
User avatar
Hairyloon
 
Posts: 9430
Joined: Thu Nov 01, 2012 3:12 pm
Location: From there to here and here to there... Funny things are everywhere.

Re: Independent Scotland Currency?

Postby miner » Wed Feb 19, 2014 3:06 am

From the first part of an article today's Daily Telegraph:

The SNP is a muddled, confused blend of big state socialists, nationalists, populists and the odd genuine capitalist that will make a disastrous hash of it all


There is a simple yet fatal contradiction at the heart of Alex Salmond’s case for Scottish independence. With self-government comes the need to earn economic credibility – and yet Salmond is threatening a confidence-shattering default on Scotland’s share of the national debt, is clueless about which currency he will adopt, has no idea how to retain a financial sector in Edinburgh, doesn’t have a realistic plan to deal with Scotland’s declining oil revenues, hasn’t thought through his future trading arrangements and continues to support a nonsensical, something-for-nothing approach to the public finances.
It’s a recipe for disaster, and the very opposite of the cautious, prudent, pro-market manifesto that would be needed to make independence succeed.


An excellent summary of the virtues and abilities of Alex Salmond and his polyglot assortment of professional buffoon fellow-travellers.
miner
 
Posts: 2341
Joined: Sun Nov 04, 2012 12:22 am

Re: Independent Scotland Currency?

Postby dls » Wed Feb 19, 2014 2:11 pm

It doesn't even mention his undue optimism over Europe!

Perhaps he could announce the 'McPound'?
David Swarbrick (Admin) dswarb@gmail.com - 0795 457 9992
User avatar
dls
Site Admin
 
Posts: 11866
Joined: Thu Nov 01, 2012 1:35 pm
Location: Brighouse, West Yorkshire

Re: Independent Scotland Currency?

Postby landlordnightmare » Wed Feb 19, 2014 3:00 pm

dls wrote:It doesn't even mention his undue optimism over Europe!

Perhaps he could announce the 'McPound'?


He would have to guarantee that it was made of 100% pure scottitsh beef (but a bit of a waste of scottish beef IMO) - but where would he get the cheese from if you wanted 'a McPounder with cheese'?
Note: I am not legally qualified, just been around a few blocks. The sorry cynic.
landlordnightmare
 
Posts: 2001
Joined: Wed Feb 06, 2013 2:37 am

Re: Independent Scotland Currency?

Postby miner » Wed Feb 19, 2014 3:23 pm

How about the Sturgeonburger - half-cooked, fishy and low on substance?

No problem with the cheese, LLNM - plenty of cheese heads available.
miner
 
Posts: 2341
Joined: Sun Nov 04, 2012 12:22 am

PreviousNext

Return to Just Mooting

Who is online

Users browsing this forum: No registered users and 1 guest

cron