MPs lack basic knowledge about the fundamentals of money, leaving them ill-equipped to understand the impending dangers of another house price boom or a second credit bubble, according to an exclusive Dods Monitoring poll commissioned by Positive Money, the campaign body calling for fundamental reform of our money and banking system.
The people of Scotland are in a unique position – the independence debate has presented us the opportunity to re-imagine our nation afresh. We can ask: what would the country look like if we designed it from scratch today?
Positive Money's 'A Scottish Currency? 5 Lessons from the Design Flaws in Sterling' highlights the necessity of limiting the creation of a Scottish currency to a Scottish Central Bank. The report is helpful in pointing out some of the pitfalls of a Sterling-type currency, namely: