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Scotland rejects independence with No winning 55% of vote; Market reaction to Scotland vote: it’s 'up, up and away'
Topic Started: 9 Sep 2014, 10:43 AM (3,416 Views)
Bardon
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I am all for Scottish self determination, but that support doesn't extend to the SNP or Alex Salmond, quite the opposite. Jock Bolsheviks should not be in power.
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Jimbo
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Bardon
9 Sep 2014, 03:35 PM
I am all for Scottish self determination, but that support doesn't extend to the SNP or Alex Salmond, quite the opposite. Jock Bolsheviks should not be in power.
Salmond doesn't understand basic economics.

He reasons that Scotland can be independent and keep the pound?

He hasn't really thought that through.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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newjez
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Veritas
9 Sep 2014, 02:12 PM
I wonder when Australia will cop on that having another countries flag on our flag is really lame.
We could have a flag that doesn't exist in the corner.
Jimbo
9 Sep 2014, 03:42 PM
Salmond doesn't understand basic economics.

He reasons that Scotland can be independent and keep the pound?

He hasn't really thought that through.
Well, they could be more independent. But I think they should have sorted out what they were voting for first.
Edited by newjez, 9 Sep 2014, 03:50 PM.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Veritas
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Jimbo
9 Sep 2014, 03:42 PM
Salmond doesn't understand basic economics.

He reasons that Scotland can be independent and keep the pound?

He hasn't really thought that through.
They can peg to it like the Scandinavian countries do with the Euro.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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Jimbo
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newjez
9 Sep 2014, 03:47 PM
Well, they could be more independent. But I think they should have sorted out what they were voting for first.
If they use the Pound then they will not be independent at all. There is no way of controlling a currency that isn't yours.

Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Veritas
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Jimbo
9 Sep 2014, 04:06 PM
If they use the Pound then they will not be independent at all. There is no way of controlling a currency that isn't yours.
This is true.

To be a truly sovereign country you must issue your own currency and have your own central bank.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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Count du Monet
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Jimbo
9 Sep 2014, 03:42 PM
Salmond doesn't understand basic economics.

He reasons that Scotland can be independent and keep the pound?

He hasn't really thought that through.
Scotland has its own pound which is still in use. But in any case they can take their custom to the ECB.

Quote:
 
Scotland and Northern Ireland

While provincial banks in England and Wales lost the right to issue paper currency altogether, the practice of private banknote issue has continued in Scotland and Northern Ireland. The right of Scottish banks to issue notes is popularly attributed to the author Sir Walter Scott, who in 1826 waged a campaign to retain Scottish banknotes under the pseudonym Malachi Malagrowther. Scott feared that the limitation on private banknotes proposed with the Bankers (Scotland) Act 1826 would have adverse economic consequences if enacted in Scotland because gold and silver were scarce and Scottish commerce relied on small notes as the principal medium of circulating money. His action eventually halted the abolition of private banknotes in Scotland.[45]

Scottish and Northern Irish banknotes are unusual, firstly because they are issued by retail banks, not central banks, and secondly, as they are technically not legal tender anywhere in the UK – not even in Scotland or Northern Ireland – they are in fact promissory notes.[17][46]

Seven retail banks have the authority of HM Treasury to issue sterling banknotes as currency.[47] Despite this, the notes can be refused at the discretion of recipients in England and Wales, and are often not accepted by banks and exchange bureaus outside of the United Kingdom. This is particularly true in the case of the Royal Bank of Scotland £1 note, which is the only £1 note to remain in circulation within the UK.[48]

In 2000, the European Central Bank indicated that, should the United Kingdom join the Euro, Scottish banks (and, by extension, Northern Irish banks) would have to cease banknote issue.[49] During the Financial crisis of 2007–2008, the future of private banknotes in the United Kingdom was uncertain.


Anyway the Scots can go back to raiding England and stealing sheep.

The original shilling was the price of a scrawny cow or a nice sheep. The silver shilling was introduced to save the inconvenience of paying in sheep!

Posted Image

David Cameron will be exhibited at the next agricultural show as a prize fool! The man who lost Scotland?
The next trick of our glorious banks will be to charge us a fee for using net bank!!!
You are no longer customer, you are property!!!

Don't be SAUCY with me Bernaisse
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Jimbo
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Count du Monet
9 Sep 2014, 05:00 PM
Scotland has its own pound which is still in use. But in any case they can take their custom to the ECB.
The Scottish Pound is simply a UK Pound with different printing. It is printed by the Bank of Scotland but is regulated by the BoE.

It is not a separate currency.

Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Veritas
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Jimbo
9 Sep 2014, 06:01 PM
The Scottish Pound is simply a UK Pound with different printing. It is printed by the Bank of Scotland but is regulated by the BoE.

It is not a separate currency.
That's right.

This is not hard chaps.

Scotland is not sovereign. Therefore it doesn't have its own currency.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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jesusjones
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Good on them, go for it :)
Edited by jesusjones, 9 Sep 2014, 06:41 PM.
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