Thursday, August 28, 2014

Neil Wilson — Scottish Independence Myths - How to buy imports?

I've been amazed at how poor the understanding is on how cross border trade actually work in a modern financialised world. It's almost like they've never spent any time at the sharp end of a firm's invoicing and payment operation, and exposed to the constant stream of marketing from banks.
The introduction of an independent free-floating Scottish currency is no barrier at all to cross border trade - because the banks are already setup to support it and make money doing so. It's very straightforward.…
Scottish Independence Myths - How to buy imports?
Neil Wilson
Neil also sends up to, The euro has failed to boost trade between the countries that adopted it, By Allister Heath at The Telegraph.

Neil: "an interesting post here about how the introduction of the Euro has not changed the amount of trade one jot - which of course means that an independent currency can therefore be no barrier to trade."

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