USING the pound without a currency union and reforming Scottish banking regulations could help an independent Financial experts and
But the Institute argues that "
In a report published today, the think-tank - which stresses that it takes no position on the referendum and produces research for public information purposes only - also points to the dollarized economies of
The Institute says adaptive sterlingisation would "allow competitive, private banks to issue their own promissory notes backed by reserves of GBP - or anything else, including USD, gold, index fund shares or even crypto-currencies like Bitcoin."
It explains: "With each bank given powers to expand and contract its balance sheet relative to demand, this system would be highly adaptive to changes in money demand, preventing demand-side recessions such as the ones that led to the 2008 Great Recession."
The think-tank claims evidence from countries like
He went on: "The examples of
USING the pound without a currency union and reforming Scottish banking regulations could help an independent
Financial experts and