If what you say is correct then Scotland will simply take it's 10% of the BoE and set up it's own Central Bank, it's not difficult. If we do that we will then witness the melt down of sterling because of the removal of the prop that is Scotland. Now Scotland does not want to see that because we are your biggest customer and we don't want the rUK to collapse. I've told your NSIS we are not buying these scrare stories they are not realities there are no realities in the money markets or did you not notice the crash. A huge financial event and yet NOT ONE of these economists managed a tweet a squeak NOTHING they did not have a clue. So put your experts back in their box we will look at Scotland it's people it's industry, it's resources and just say You're havin' a laugh! You've seen our list of assets, squeak, squeak!
I've never seen anything about what they can actually do to stop Scotland continuing to use the Pound.
It will most certainly need it's own central bank. The question would be who would lend to a newly independent country with a newly formed central Bank. Once again, these are not scare stories, but hard economic facts! The kind if facts that Salmond & co find so uncomfortable and don't wish to address.
Of course they can use the pound. The thing is, Bank of England will manipulate it to what best suits the UK and completely disregard what is best for Scotland. Scotland can use the pound but it would really not be in their best interest to do so. Using a currency you have no control over is not a good thing... especially for a newly independent nation where the economy will be jittery and under go things like inflation (even for the best of economies). It would be economic suicide to continue using the pound but have no control over it.
Just like everything else... everyone will- everything is going to be perfect. All international banks will automatically throw free money at Scotland. Cows in Scotland will suddenly start defecating gold and farmers will give it to BOS. Scotland will start having a tropical climate as Salmond's good will will warm the country. People will be flying in from Spain to enjoy the climate of Scottish beaches!
Just to change the theme oscar Pistorius is guilty of culpable homicide, equal to manslaughter so lucky him.
"If what you say is correct then Scotland will simply take it's 10% of the BoE and set up it's own Central Bank, it's not difficult. If we do that we will then witness the melt down of sterling because of the removal of the prop that is Scotland." You can take a proportionate amount of the BOE reserves. And a proportional amount of the national debt. And do what you want with your own "currency". That on paper makes Scotland a nation with the same economic profile as the current UK, but 1/9 of its size. And the thing is : the markets LIKE this scenario for UKminus.
Dr Eamonn Butler Eamonn Butler is Director of the Adam Smith Institute, rated one of the world’s leading policy think-tanks. He has degrees in economics, philosophy and psychology, gaining a PhD from the University of St Andrews in 1978. During the 1970s he worked on pensions and welfare issues for the US House of Representatives, and taught philosophy in Hillsdale College, Michigan, before returning to the UK to help found the Adam Smith Institute. Eamonn is author of books on the pioneering economists Milton Friedman, F A Hayek, Ludwig von Mises and Adam Smith, and co-author of Forty Centuries of Wage and Price Controls and books on intelligence testing. He contributes to the leading UK print and broadcast media on current issues, and his recent popular publications The Best Book on the Market, The Rotten State of Britain and The Alternative Manifesto have attracted considerable attention. He has also contributed articles to national magazines and newspapers on subjects ranging from health policy, economic management, taxation and public spending, transport, pensions, and welfare. OK that's the man and he has said that the Bank of England would have to take Scotland into account in the event of Sterlingisation. It is in the interests of rUK to make sure it's largest customer is stable. The advice from the Adam Smith Institute is that Scotland should go it alone and just use the pound.
And a quick check of Wikipedia reveals this about the organisation: "It was the primary intellectual force behind privatisation in the Thatcher era and, with the Centre for Policy Studies and Institute of Economic Affairs, helped drive Thatcherite policy on privatisation, taxation, education, and health. Several of the Institute's policies have been adopted by the Major and Blair governments." Still keen on what they've got to say, Comrade Spurf? So, so far, you've put forward the bloke that helped to wreck the British economy and a Tory group that sold off everything to their mates and pocketed the money. They're pushing this socialist vision for a new Scotland, are they? Couldn't be looking to make a quick buck and **** over the little man, like they always have, could they?
Not quite. He has been found guilty of unlawfully killing his girlfriend and a separate count of unlawfully discharging a firearm in public. Whether he can accurately be described as having got away with it will depend upon the sentencing, in my opinion. Should've got non-premeditated murder, though.
You see PNP the whole reason I picked the AdamSmith Institute is BECAUSE of their affinity with much of the No campaign and the Establishment. If it comes from them it is clearly NOT coming from the YES camp. That WAS the point PNP and you missed it.
Ecuador has been using the USD for years and the Bahamas effectively have for decades with no apparent ill effects. Ireland used GBP for many years too.
I didn't miss it, I pointed out that these are the very people that would like to see the Scottish economy go to pot, so that they can profit from it. They're Thatcherites. They don't want what's best for the people of Scotland. Why would they issue good advice for them? They want to create an opportunity for the establishment elites that you've repeatedly mentioned to make some money at the expense of everyone else.
"Ecuador has been using the USD for years and the Bahamas effectively have for decades with no apparent ill effects." That is because the USA has been a reasonably well-run economy, and its currency is strong. On that basis I would suggest that Scotland similarly use USD, as the UK economy is apparently one big joke and certainly not worth the risk of using its currency.
