Modern Monetary Theory

The SNP Has To Commit To A Scottish Pound

"The SNP hierarchy want Scotland to pursue ‘sterlingisation’ post independence. That would mean Scotland would use the existing pound. And this would be an outright disaster. Scotland could not, in that case, borrow in its own currency. It could not set its own interest rates. It could not do quantitative easing. It could not have done furlough then. And its debt would be subject wholly to the whim of foreign financial markets, and you can be sure that those in London would do their best to undermine it."

How Are You Going To Pay For It?

"The 'killer' question that any journalists thinks that they can ask a politician who is proposing any new initiative is 'how are you going to pay for it?' The assumption is that government lives in a zero-sum and financially constrained world where if they are to propose some new action then something else has to be foregone to pay for it, or a specific new tax has to be found to fund the project." --- Watch the video!

We Cannot Run Out Of Money But We Will Run Out Of Jobs

"when it comes to government-created money, the Bank of England can literally create however much the government instructs, simply by entering numbers into the computer that records the transactions between the Treasury and the Bank. This can be done as often as required so long as if the control of inflation requires it enough tax is charged to take that newly created money out of circulation, and so destroy it."