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Independent Scotland Currency?

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Re: Independent Scotland Currency?

Postby landlordnightmare » Wed Feb 19, 2014 4:57 pm

miner wrote:- plenty of cheese heads available.


you must have missed part of my point intended.. :D
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Re: Independent Scotland Currency?

Postby landlordnightmare » Sat Mar 01, 2014 4:20 am

landlordnightmare wrote:cb.. By all means - Scotland can go for 'bit coins'

I love a volatile currency in order to make a few quick bucks........



Japenese too not exactly supporting it today possibly? what currency exactly was that bit coin?
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Re: Independent Scotland Currency?

Postby Hairyloon » Sat Mar 01, 2014 9:47 am

I can see why the banks do not like it: imagine an independent currency that they cannot manipulate. No wonder they are up in arms against it.
Obviously, if there is a big hole in the cryptography, then it is a complete lemon, but that may just be gossip.
It is a new thing, it is bound to be volatile to begin with. This latest hiccup will either kill it or stabilise it.
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Re: Independent Scotland Currency?

Postby landlordnightmare » Sat Mar 01, 2014 7:42 pm

Hairyloon wrote:I can see why the banks do not like it: imagine an independent currency that they cannot manipulate. No wonder they are up in arms against it.
Obviously, if there is a big hole in the cryptography, then it is a complete lemon, but that may just be gossip.
It is a new thing, it is bound to be volatile to begin with. This latest hiccup will either kill it or stabilise it.


It seems you still miss the point - it, as any currency, still represents a DEBT.

Who stands behind that DEBT? Clearly not the Japanese government.

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

I am not sure anything is correct - just what other solution(s) would you suggest?
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Re: Independent Scotland Currency?

Postby Hairyloon » Sat Mar 01, 2014 8:29 pm

landlordnightmare wrote:It seems you still miss the point - it, as any currency, still represents a DEBT.

Maybe so, but does it have to be that way?
A pound is worth a pound because enough people agree that to be the case. Does it matter that it is founded on a debt if nobody expects that debt to ever be repaid? And they don't, because there is no way that it ever can be.
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Re: Independent Scotland Currency?

Postby landlordnightmare » Sat Mar 01, 2014 8:39 pm

Hairyloon wrote:A pound is worth a pound.


Well the point is - IT ISN'T - it depends upon what you want to convert the pound into. It is useless on its own (unless you fancy eating the coins!)
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Re: Independent Scotland Currency?

Postby Hairyloon » Sun Mar 02, 2014 12:14 am

landlordnightmare wrote:
Hairyloon wrote:A pound is worth a pound.


Well the point is - IT ISN'T - it depends upon what you want to convert the pound into. It is useless on its own (unless you fancy eating the coins!)


Let me get this straight: you are saying that currency has to be based on debt, so national currencies are sound because you can call in the debt: i.e. exchange it for currency.
However, if you have got something which only has worth because people have enough confidence in it to exchange goods for it, then that doesn't count as currency because it is not based upon debt...
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Re: Independent Scotland Currency?

Postby landlordnightmare » Sun Mar 02, 2014 3:23 am

Hairyloon wrote:
landlordnightmare wrote:
Hairyloon wrote:A pound is worth a pound.


Well the point is - IT ISN'T - it depends upon what you want to convert the pound into. It is useless on its own (unless you fancy eating the coins!)


Let me get this straight: you are saying that currency has to be based on debt, so national currencies are sound because you can call in the debt: i.e. exchange it for currency.
However, if you have got something which only has worth because people have enough confidence in it to exchange goods for it, then that doesn't count as currency because it is not based upon debt...


No! & No! You seem to confuse yourself & me now!!.

People will (should) only exchange real goods or services for something they have trust in being as worthwhile for them.

Barter works. Currency just facilitates markets - as if every time you wanted to go shopping you had to bring in your own pig/beer/carrots to swap for the cream pie you wanted life would be more difficult.

The fact that nationasl currencies have been changed to be debt might be a corruption of the original ideas.
Note: I am not legally qualified, just been around a few blocks. The sorry cynic.
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Re: Independent Scotland Currency?

Postby Hairyloon » Sun Mar 02, 2014 4:56 pm

landlordnightmare wrote:People will (should) only exchange real goods or services for something they have trust in being as worthwhile for them.

Barter works. Currency just facilitates markets - as if every time you wanted to go shopping you had to bring in your own pig/beer/carrots to swap for the cream pie you wanted life would be more difficult.

Agreed.
The fact that national currencies have been changed to be debt might be a corruption of the original ideas.

You were saying that currency has to be based upon debt. I recognise that this is how it is, but I do not see why it has to be so.
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Re: Independent Scotland Currency?

Postby landlordnightmare » Sun Mar 02, 2014 7:43 pm

What else would it be based on?

Lots of pigs in the bank that you could go and claim? Once upon a time it was (supposedly) based on gold reserves. But even if you went to get your (supposed) gold owed - how many dinners would it buy you if gold went out of fashion and bought you only one pigs trotter for dinner for the next year?

Over to you for a suggestion HL.
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