One of the common arguments used against Welsh Independence is that we could not afford to pay our share of the very large UK National Debt.
But if this share is properly calculated according to international norms, an independent Wales would be due a hefty cash rebate from the UK government making the remaining debt payments much more manageable. Read More
In this final part, I shall discuss how different countries’ currencies are valued relative to one another, and the link between currency value and economic performance. Then (at last!) I shall be in a position to apply all this to Wales. Read More
The system which is in use across the world today, called ‘fiat currency’, is a sort of hybrid between the Gold Standard and ‘free money’. Despite how much we depend on it in our everyday lives, what it is and where it comes from is not often thought about, and is poorly understood – even, or perhaps especially so, amongst our political class. In this article, I shall do my best to explain it and lead into the next and final part of this short series, namely a proposal for how an independent Wales’s currency should work. Read More
In this post, I shall go through some background, explaining how money went from being based on gold and silver coins which had value in their own right, to being tokens issued by governments representing a share in the nation’s wealth. We’ll see how this led to governments being at the mercy of international banking cartels, dominated by a few fabulously wealthy families (one of which was Welsh). Read More
The recent Government Expenditure & Revenue Wales Report (GERW) published by the Wales Governance Centre indicated that Wales is currently running a large and unsustainable budget deficit. However, within the detail of the report it is clear that our devolved Wales is being forced to carry costs that an independent Wales would not need to carry. Read More
WITH Brexit fast approaching and the exact shape of that event still so unclear, dramatic predictions and pronouncements from politicians are now ten a penny. But none as astonishing perhaps… Read More