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Scottish Currency Group

@scg1.bsky.social

4.8K followers 9.1K following 1.9K posts

There is no independence from Westminster without a Scottish Currency 🏴󠁧󠁢󠁳󠁣󠁴󠁿 We are planning for a Scottish Central Bank, payments system & regulatory structures for introduction of a Scottish currency on Independence Day #scottishindependence #scottishcurrency

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Scottish Currency Group @scg1.bsky.social · 1d

Please share this poster with any groups or individuals interested in the vision and practical delivery of the benefits of independence. Scan the QR code for details of the speakers and to book tickets - online or in person

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Scottish Currency Group @scg1.bsky.social · 17h

Check out Ian Stewart and Tim Rideout chatting to Marlene and Fiona about what to expect from the 2025 Scottish Currency Group Conference 25/25 Oct in Dunfermline

youtu.be/4JJO8oZ4sww?...

Spotlight on Indy Autumn Events

YouTube video by Scottish Independence Podcasts: IndyPod Extra

youtu.be

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Scottish Currency Group @scg1.bsky.social · 1d

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Scottish Currency Group @scg1.bsky.social · 1d

Scotland already has the powers to begin this journey to own our electricity and heating production. Why aren't we doing this?

bylines.scot/opinion/how-...

How to own Scottish energy

How Scotland could publicly own its wealth of energy resources

bylines.scot

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Reposted by Scottish Currency Group

Robbie Mochrie @economyofhope.bsky.social · 3d

@scg1.bsky.social
Delighted to see that your hard work has paid off and this paper is annoying the right people

www.gov.scot/publications...

A Fresh Start with Independence

This paper sets out why Scotland should become an independent country, and what an independent Scotland could look like. It provides details of this Scottish Government’s proposals for an independent ...

www.gov.scot

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Scottish Currency Group @scg1.bsky.social · 3d

We are delighted with this progress!

Scottish Currency Group @scg1.bsky.social · 4d

Only with our own currency which enables us to invest & shape our economy around this. Otherwise the bulk of our energy will go south to meet England's needs & our desperation to earn their currency. Distortion of our economy & debt we can't guarantee hikes the interest we will have to pay to borrow

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Scottish Currency Group @scg1.bsky.social · 4d

It's not a neutral position to run on someone else's currency, it does actual damage & distorts our economy around their needs, not ours. Building up foreign currency debt further compounds the distortion. Furthermore we can't guarantee borrowing so can default which increases the interest on it

Scottish Currency Group @scg1.bsky.social · 4d

The Estonians put in detailed planning before they became independent, then implemented the planning which was fast because they had done the planning

Scottish Currency Group @scg1.bsky.social · 4d

Having our own currency gives us the maximum ability develop those resources and assets in the interests of our folk. Using someone else's means continuation as a resource colony to earn their currency. That often involves tax rises to suppress domestic demand for resources

Scottish Currency Group @scg1.bsky.social · 4d

Glad to see you are quoting John Randall, a member of the SCG Banking and finance group, who advocates for forward planning of the Scottish currency for the reasons I've stated and the importance of have the ability to issue our currency near or on day one

Scottish Currency Group @scg1.bsky.social · 4d

Good - I hope you mean full independence which is what I will be voting for

Scottish Currency Group @scg1.bsky.social · 4d

I'm not sure what role you're ascribing to a group advocating for self determination for Scotland to escape the WM decision making which has led us here. You think there is no alternative to how your business prosperity is arrived at - there is, it's just not neoliberal and it involves the state

Scottish Currency Group @scg1.bsky.social · 4d

This is not helpful to communicating. I refer to my early suggestion to leave you to your thoughts. We can't talk in the same terms until we are on the same page on the fundamentals.

Scottish Currency Group @scg1.bsky.social · 4d

What specifically are you not understanding?

Scottish Currency Group @scg1.bsky.social · 4d

If your business is not sound I doubt it will last as long as it will take to join the EU, regardless. SNP policy to adopt S&GP rules prior to membership will put our economic health back & make EU membership further away. If we join in a poor state our economy will have little means to change that

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Scottish Currency Group @scg1.bsky.social · 4d

There are other ways businesses can be boosted through the monetary powers of the state they are in. Trade advantages mainly just adds to business balances not necessarily benefits the whole nation. Trade is not funding sources to the state unless it nationalises. Taxes are not a source of funding

Scottish Currency Group @scg1.bsky.social · 4d

I know the EU restricts monetary powers through treaty, that is what the S&GP rules do. Do you think this is good for the overall health of nations? Do you think trade is more important than the health of your domestic economy and essential
needs of citizens? This is quite a business centric view

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Scottish Currency Group @scg1.bsky.social · 4d

Sure there are different levels of sovereignty a lot of which hinge on currency sovereignty. The idea that a currency sovereign nation is dependent on the bond markets is a fiction. This is where a deeper underfunding of the economics comes into play. A non currency sovereign nation is dependent

Scottish Currency Group @scg1.bsky.social · 4d

Can you explain how the EU is able to restrict the monetary powers of a currency sovereign state?

Scottish Currency Group @scg1.bsky.social · 4d

I'm going to leave you to your thoughts I can see we are not communicating.

Scottish Currency Group @scg1.bsky.social · 4d

So you will be happy for a state with the full monetary powers to invest in supporting productive capacity then. Infrastructure, education, public services, transport, the opportunity to base our whole economy on access to cheap renewables. These are the things that creat demand for businesses

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Scottish Currency Group @scg1.bsky.social · 4d

FYI the wrong sort of Brexit is the one we got and the reason many of us in Scotland voted Remain. We know who WM is and who it represents and it isn't ordinary folk. Assuming Scotland joining the EU will be a magic fix is just foolish. Understanding the components for economic wellbeing is key

Scottish Currency Group @scg1.bsky.social · 4d

I'm looking at EU countries and seeing the same unemployment problems, inequality, economic and tech stagnation, drift to the right etc. Without full monetary powers, countries have no means to break this cycle. Unless the ECB reforms its arbitrary fiscal rules this will continue

Scottish Currency Group @scg1.bsky.social · 4d

I will ask again do you understand the implications of the S&GP rules for an economy, particularly an underdeveloped one, needing to repair the damage of deindustrialisation? If our economy is strong, your business will have a chance. This is a whole nation effort