Eskozia berriz eta aspaldiko akats teoriko berberak, berriro!

Txostena:

Scotland: The new case for optimism

(https://www.naiz.eus/media/asset_publics/resources/000/501/638/original/SGC_Full_Report.pdf)

Hona hemen txostenaren bi puntu garrantzitsu:

(i) The Commission recommends that the currency of an independent Scotland should retain the pound sterling for an extended transition period.

(ii) Public sector deficit should be reduced to below 3 per cent of GDP (…)

Txostenaren arabera, Eskozian libra esterlina erabiliz (alegia, subiranotasun monetarioa lurperatuz gain), neoliberalismoa izango da nagusi, defizit publikoa murriztu nahian, egungo Europar Batasunean gertatzen den antzera.

Afera sakona hauxe da: ez dakite diruak nola funtzionatzen duen.

Aspaldiko akats teorikoak:

Eskozia, Katalunia, Euskal Herria… independentziarako bidean? Diru politikaren garrantziaz delakoan ikusi genuen moduan,

Kontua da Eskoziak aparteko aukera ederra izan zuela politikoki eta ekonomikoki independentea izateko. Hala ere, independentziaren izenean, moneta Britainia Handiko banku zentralaren esku utzi nahi zuten (libre esterlina erabiliz) eta, harrigarria bada ere, fiskalitatea britainiar Altxor Publikoaren menpe.

Hori salatu dugu, e-posta batzuen bidez: Eskoziari buruzko e-posta batzuk. Bertan Bill Mitchell-en irakaspenak erabili nituen (Bill Mitchell-ek Eskoziaz eta Eskozia independentziaranzko bidean).

Hori dela eta, behin eta berriz azpimarratu dut Eskozia ez dela inongo eredurik Euskal Herriarentzat: ikus, besteak beste, ondoko linkak: Eskozia ez da inolako eredua Euskal Herriarentzat eta Eskozia ez da eredua Euskal Herriarentzat!

Ondorioz, hauxe esan daiteke: Eskoziak hanka sartu zuen, goraino gainera.

DTMkoek, eta Mosler-ek bereziki, abisua eman zuten. Alde batetik, Katalunian gauza bertsua gerta ez zedin: Eskozia eta Katalunia: DTMkoen abisua; eta bestetik, proposamena luzatuz: Eskozia eta Katalunia /edo/ Katalunia eta Eskozia.

Hala ere, batzuek independentzia argi aldarrikatu zuten: Independentzia da mezua (zorionez!)

Eskoziarrek moneta propioaren afera ere ukitu zuten, nahiz eta kasurik ez egin: Eskoziaren moneta propioaz zenbait iritzi.

Dena den, azken bolada honetan, moneta propioaz eztabaida oso interesgarri bat sortu da: Moneta berria jaulkiko ote du balediko Eskozia independenteak?.

Interesgarriena hauxe dateke: Eskozia independentea eta moneta propioa.

Lan horiek DTMtik nahiko hurbil daude, baina… oraindik askotxo falta zaie.

Ea hurrengoan1 asmatuko duten! Horretarako, jakin zein ez!, ekonomia da nagusi.”

Badirudi, lehengo egoera bertsuan gaudela orain ere…

Hala ere,

In Bill Mitchell-en Timor-Leste – challenges for the new government – Part 2 (http://bilbo.economicoutlook.net/blog/?p=39363#more-39363) —-> comments

(a) Derek Henry says:

Wednesday, May 16, 2018

Bill,

(…) can you go into more detail what the central bank would do once they have issued their own currency. What you would do to the commercial banks ?

How they can protect themselves using capital controls and promote public purpose. For example.

1) The central bank is constitutionally barred from dealing in the foreign exchange markets, and margin trading is banned.

2) Banks can only lend (i.e. create money) for the capital improvement of the country. Since traders then know that there will be no ‘patsy’ in the market and no leverage available to them, they have no effective mechanism to attack anything. They would run out of liquidity. To sell the new currency you have to have them.

3) No need of foreign currency in the central bank. The foreign currency, if any, is held by the government to allow it to make necessary purchases in an emergency. Most importantly it is never used to settle foreign financial liabilities. Any entity that cannot service foreign financial liabilities goes bankrupt and the foreign debts are wiped out by the bankruptcy process. Creditors then get paid in the new currency achieved by selling the assets. The reason for that is straightforward – when you bankrupt a foreign loan you destroy their money.

4) Banks would always be under threat of being placed in administration and their shareholders wiped out if they break the rules regarding the currency. That’s how you keep them in line.

5) You tell banks what they are allowed to do, and NOT what they are not allowed to do. When you tell banks what they are not allowed to do, they will always find something you forgot.

6) Bank lending is to be limited to public purpose, which means you cannot use financial assets as collateral. You can’t borrow against financial assets from the member banks. If somebody in the private sector wants to make a loan, that’s okay. But not the banks with insured deposits.

7) And lending is done by credit analysis and not market prices of the assets underneath. You must lend by credit analysis to serve public purpose.

8) You don’t need foreign money. Foreign firms need the custom of the Timor-Leste people because they have nowhere else to sell their stuff. To do that they need to either take the output of Timor-Leste, or hold the new currency. If they don’t then they won’t make the stuff, which creates space for Timor-Leste to make it for itself.

If you ran the central bank in Timor-Leste what would you do and what would you say the commercial banks would do ?

The common Weal project in Scotland are struggling with these issues as we speak in Scotland when they produce white papers on issuing a new currency and creating a new central bank.

Thanks.

(b) Derek Henry says:

Wednesday, May 16, 2018 at 21:50

I had a chat with Robin Macalpine who runs the Common Weal project in Scotland over the weekend.

I gave them Trade and external finance mysteries – Part 12 and 23. Which highlights the errors of their ways.

The feedback was very positive and they are starting to get it and they are going to start publishing more material in support of the job guarentee. With an interest in the combination of a JG and a UBI as discussed within the Mosler – Keen debate4. Which is a giant leap forward because in the past they have only ever supported a UBI.

Scotland is obviousley further advanced than Timor-Leste but when setting up a central bank and issuing a new currency there are similarities here.

Beraz, badirudi Diru Teoria Modernoa delakorantz urratsak emateko prest daudela eskoziar batzuk

Ea egia izango den!


Ikus Timor (1).

Ikus Timor (2).

4 erantzun “Eskozia berriz eta aspaldiko akats teoriko berberak, berriro!” bidalketan

  1. Ortodoxiak ere!

    The Currency Question

    (https://bellacaledonia.org.uk/2017/03/31/the-currency-question/)

    Why should Scotland adopt a new currency after independence?
    An independent currency allows Scotland to have more control over its economy. This means more control over what the Scottish government can spend on and invest in. It means the ability to better deal with changes in how much Scotland buys from and sells to the rest of the world. It would also allow Scotland to set the interest rate that is most suitable for the Scottish economy. This would also give Scotland more control over what type of economy it wants to have. Controlling your own currency also allows you decide how to deal with global economic problems like the banking crisis of 2008. An independent currency would allow Scotland to respond to such events in the way that is best for Scotland, it would free Scotland to pursue the policies it deemed most appropriate, an example is People’s Quantitative Easing.”

Utzi erantzuna

Zure e-posta helbidea ez da argitaratuko. Beharrezko eremuak * markatuta daude

− 1 = 1