Currency Union?

[Suffererof1crankymofo]

Sorry but facts are facts he did say Scotland can use the £ so there is no misquoting.

 

 

You are being highly economical with the truth.  Reminds me of Labour years ago when they frequently misquoted the tories along the lines of "We won't put up taxes" when they actually said, if my memory serves me correctly "We won't put up taxes unless it is prudent to do so".

 

So, Scotland can use the £ or another currency but they can't control the £.  I respectfully suggest that you don't even try to guess what the money markets will do; I seem to recall the last major time sterling took a hit - if a currency shows any sign of weakening then those money dealers quite happily sell, sell, sell.

[Berserker]

That's the kind of attitude that is typical of the yes brigade. Never let the truth get in the way of a good story. Really worrying if they were ever to get their way. Thankfully we don't all swallow the party line hook, line and sinker.

[Who Knows]

With due respect it was Better Together who were being economical with the truth. Alistair Darling headlines the this article from the official website as "The only way to guarantee that we keep the pound is to stay in the UK". Clear as mud there.

 

http://bettertogether.net/blog/entry/the-only-way-to-guarantee-that-we-keep-the-pound-is-to-stay-in-the-uk

 

Alistair Darling admitting the truth that Scotland can keep the £ is the news.

 

Alistair Darling was just eloquently illustrating his satirical skills in pointing out that there was other international tradable currency that Scotland could use instead. However still conceding the principle.

 

Other than this eloquent satirical comment no one is suggesting Scotland should use these currencies so totally irrelevant. I will agree that Labour were though in there case missing out a key part of the argument as it was relevant context.

 

Respectively in a democracy anyone has a right to express an opinion or make a forecast. It is up to those reading that statement to assess in their view the merits or otherwise.

 

International trading markets values the free movement of capital and restrictions to that creates risk. The greater the risk, the rate of return required for investment is higher is basic economics.

 

For example if you were fortunate enough to have £1,000 to invest and you had the choice of two banks one offering 10% with instant access and the other bank offering 10% but with a 6 month notice period. Assuming common sense is applied to your investment decision you would choose the instant access account over an notice account. The bank wanting to apply a notice period to attract investment will need to react to attract investors via increasing the rate it offers.

 

If the UK has plans to put restriction on the use of the pound that seeks to restrict it use, then it would cease to be a freely tradable commodity thus increasing risk in holding it. As such the Bank of England would need to increase the base rate to increase the reward for holding it or allow the value £ to fall as the market adjust the price down to until the risk and reward are back in balance.

 

For the record I am not a member of a political and I have the ability to think freely and challenge the assertion of anyone.

 

Challenging the false assertions of Better Together does not mean I do not respect people's right to vote NO. In a healthy democracy debate and discussion is to be encouraged whilst violence and intimidation should be condemned by everyone.

[Colin]

"In a healthy democracy debate and discussion is to be encouraged whilst violence and intimidation should be condemned by everyone."

 

We don't have a healthy(?) democracy.   We have an elitist nation where the elite(?) work very hard at maintaining their position and control.

Violence and intimidation, imho, includes 'egging' politicians and 'scare tactics' such as lying and deceit are never far from the surface...

 

Egging them is better than lynching them I suppose....

[shetlandpeat]

snip... the elite(?) work very hard at maintaining their position and control.

 

....snip

Just shows what hard work can achieve, best get off your keyboard (warrior) and get grafting!