Scottish Independence – now reliant on keeping the British Pound?

a href=”https://ramblings007.files.wordpress.com/2014/02/boe10.png”>boe10Lionrampant_svg>>>>>>>>>>>>>>>>>;>>>>>>>>>>>>>>>>>>>>>>>>Ryalstandard o Scotland (Scots)
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Motto: “In My Defens God Me Defend (Scots)
bos100The screws are steadily turning on the Scot’s ‘soon to be blighted’ ambition to run their own country. Chancellor George Osborne now says that if they want to break away from the Union, that he will take his ball away – he will not allow them to continue to use the Bank of England pound as their currency!

Why is that? Of course it is another scary tactic (many more to come!) to frighten any brave Scot who is tempted to put their head above the parapet. What these Scottish fools need to understand is that they don’t have the ability or talent to run their own affairs or a country with nothing going for it! They are not grateful that the English have taught them how to speak English and get rid of that incomprehensible Scottish Gaelic tongue. Their Highland Games sport of Shot-Putting has even been accepted in athletics by England

Oh yes, Labour & LibDems are in on the game plan as well, and are fully supportive of Osborne on this one – when it comes to kicking the guts out of the Scots everyone is in the gang.

What Osborne and his fellow travellers on this combat campaign fail to mention is that in fact this is NOT England’s sterling – no it is the United Kingdom’s sterling. If Scotland decides to go it alone it is ENTITLED (like in any marriage break-up) to its share of the joint assets of the UK, and of course responsibility for its share of any debts & liabilities!

Scottish talent is a spent force – the best was in the past and it is all over now. The English have sucked the life blood out of the Scots and the leaches are not yet full and ready to drop off.

Why the hell have the Scots proposed to keep the Pound anyway? Have they really got so many £50 notes stuffed under their mattresses? Or is it because it was a Scotsman William Paterson who actually co-founded the Bank of England in 1694 [bet they don’t realise though that he was strong advocate for the Union with England, which happened in 1707]? Or is it because they furnished two recent British Chancellors of the Exchequer – Gordon Brown 1997 – 2007, and Alistair Darling 2007 – 2010? Or is Alex Salmond simply trying to wind up the English

Many English people and others know to their annoyance that Scotland produces its own sterling banknotes – tourists go on holiday and are given this currency in change or from Banks & cash machines, and on return to England or elsewhere find that people won’t accept it as valid sterling currency! Sterling (GBP) banknotes are in fact issued currently by 7 bank organisations – UK (Band of England/ Scotland Banks/ Northern Ireland Banks), Crown dependences Jersey, Guernsey, & Isle of Man, Falkland Islands, Gibraltar, Saint Helena! As far as ‘legal tender’ goes only BoE notes have that status and that applies to England & Wales ONLY – Scottish banknotes don’t have that status anywhere, even in Scotland! What matters though is only that retailers are willing to accept banknotes as payment – none are illegal as such.

[What most of us probably didn’t know is that the Scottish Banks had to hold BoE sterling notes ‘pound for pound’ to offset the notes that they themselves issue: these are special high value notes (to save space!) have denominations of £1M called ‘Giants’ (A5 size) and £100M called ‘Titans’ (A4 size) – bet you haven’t owned one of those in a while!]So the idea of the Scots carrying on to use sterling as a currency isn’t really all that obscure is it? But is it essential? We think NOT! Is it desirable? We think NOT? Practicalities suggest that it is not a good idea for an Independent Scotland to retain sterling. We have seen from the experience of the Euro that a common currency, outside of full political union, can be a bucking bronco. Other world attempts of shared currency after country breakups have also floundered.

Scotland is about the size of Ireland, and is a smallish country like Switzerland or Denmark or Netherlands (all half the size of Scotland), but not a tiny one (say like Monaco or even Luxembourg a thirtieth of the size). Scotland has a small 5m population but a reasonable $235,000 billion GDP. So it is far too silly for them to think of being independent – how could they defend themselves against marauding pirates, sheep stealers, Romans, and Vikings without English help and nuclear weapons?

If the Scots get into a difficulty in establishing their own Scottish Pound, they could always go for the Ruble, as the Bank of Russia would be interested in regular visits to Scotland – particularly if England continues to park its nuclear submarines there (the Scots don’t want nuclear) and fly fast fighter jets around the mountains! 

[The Scots can of course keep Queen Elizabeth II as Monarch, whatever].

£1M< a ‘Giant’ [no image of a ‘Titan’ seems to have been released!]

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