Scottish independence is doomed to failure
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Sir, It is my opinion that Scottish independence is doomed to failure unless the proposed government takes control of its money supply and interest rates.
The “new” currency should be in line with the system operated by North Dakota. North Dakota is the only US state so far which has established a publicly-owned bank, free from the shackles of the Federal Reserve. It operates without having to borrow from the central bank. Its economy is bucking the trend and has a budget surplus.
The writing is on the wall for the present system of privately-controlled central banking.
The bondage from debt created money has doomed Main Street. If Scotland is to survive it must divorce itself from the English monetary system.
Mr Anthony Lawrence, Leeds, UK
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