http://thenational.scot/news/
http://thenational.scot/news/15366130.New_report_outlines_how_indy_Scotland_could_comfortably_raise__40bn_to_set_up_a_new_currency/If banks can create money with the stroke of a computer key-board, how does a new country creates its new currency money?
Quote:
Ryan calculates Scotland could raise $40bn through a combination of transactions, including claiming a 10 per cent share of UK reserves of $163bn – ie, $16.3bn.In addition to that $16.3bn, a further $13bn, he says, could be raised via a foreign exchange swap with the Bank of England to aid the mutual stability of the economies of Scotland and of the rest of the UK.Another $8.8bn could be raised via the issue of a Euro bond and the £4.5bn-worth of hard sterling held by a new Scottish central bank could be used to buy the remaining amount.