Let us assume, just for a moment, that Scotland becomes independent, issues its own currency and then follows Snippa’s advice on how to manage it including all of his joy over modern monetary theory.
The pound Scots (Modern Scots: Pund Scots, Middle Scots: Pund Scottis) was the unit of currency in the Kingdom of Scotland before the kingdom unified with the Kingdom of England in 1707. It was introduced by David I, in the 12th century, on the model of English and French money, divided into 20 shillings, each of 12 pence. The Scottish currency was later debased relative to sterling and, by the time of James III, the pound sterling was valued at four pounds Scots.
In addition to the pound Scots, silver coins were issued denominated in merk, worth 13 shillings 4 pence (two-thirds of a pound Scots). When James VI became King James I of England in 1603, the coinage was reformed to closely match that of England, with 12 pounds Scots equal to the pound sterling. No gold coinage was issued from 1638 to 1700, but new silver coinage was issued from 1664 to 1707.
In 1707, the pound Scots was replaced by the pound sterling at a rate of 12 to 1 (1 pound Scots equal to 1s 8d sterling)
The odds we’re offering on it taking 6 centuries to do that again are?