Thread: 'Base interest rate' and capitalism
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Unread 14 May 2007, 23:53   #6
Nodrog
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Re: 'Base interest rate' and capitalism
Quote:
Originally Posted by milo
if you want 'currency' to be controlled by states they make sense, but in the absence of that i don't see why every bank shouldn't issue its own currency.
This is the entire reason central banks exist. I dont think theres anything stopping private banks issueing their own currency in England if they wish to do so; in Scotland only coins are legal tender and all banknotes are issued by private banks but the laws might be different.
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