RE: Scottish Money/Currency – Scotcoin

SCOTCOIN 2As founder of this project, I wanted to comment on what I perceive to be misinformation being portrayed right now by the mainstream media and affiliated ‘political’ parties on such an important issue – please bare with me – This is a one time post – thanks….

The ‘point’ of money, or currency in the ‘Scottish Debate’ was always going to raise its ugly head in this discussion, prior to this ‘manufactured’ scenario in September – and I would like to contribute my 5 cents, not for any political or other reason, other than a concerned Scot, that has worked in the financial community for 15 years+ Nothing more! The potential outcome on ‘Scottish Money’ has always been apparent to me – it’s either backed by …..

1) The privately owned ‘Bank of England”, or
2) backed by the same ‘lot’, just it’s Brussels/Frankfurt, and its named the Euro – either way its a lose/lose with regards to progression for a, so called, ‘Independent Nation’.

On creating Scotcoin, I didn’t set out to ‘conquer’ the country – moreso, I just needed to prove how very easy it was to create a monetary system that ‘could’ work and be based on a finite economy (Ⓢ1BN).

To which, businesses and consumers, would know their inflationary/deflationary cost and could deal with this aspect so much easier than the mess of the current global financial ‘money printing’ ‘Keynesian economics’ based system.

Basically, create No Debt Issuance (Only Ⓢ Credit), Therefore, Create No Interest on Debt (Usury) = No Problem!. If a Scottish currency could be issued as credit, work in tandem with an ‘e-Currency’ and be backed with something Tangible (i.e. Silver coinage), then there is a real opportunity to create an economy, that is, not only investable, but also, able to flourish and grow, to become a leading nation, acquiring outward investment based on the monetary stability of the currency, and acceptability in the global FX markets.

In summary – A ‘Scotcoin’ (or similar crypto currency) backed by a tangible asset (like Silver/Oil/Agriculture), with monetary policy being issued in a form of Credit (Not Debt/Usury) from the Government (and not a private banking cartel) could transform Scotland “Overnight”.

I hope we all can see this… Thank you for reading.

Derek Nisbet


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