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27 minutes ago, phart said:

That came about from a specific action, i.e. when in January 15th 2015 Swiss National Bank revealed out of the blue that it would no longer peg the Swiss franc to the euro.

 

 

They had to boost reserves by $43bn, on top of their normal level. In 2015 the 'normal' level was at $70bn according to this: https://www.ceicdata.com/en/indicator/denmark/foreign-exchange-reserves

 

56 minutes ago, aaid said:

I think the assumption - valid or otherwise - is that in turn for a fair share of the UK's assets - including forex reserves - an independent Scotland would take on a fair share of its liabilities, ie, the UK debt.

 

The UK currently holds $173bn worth of foreign currency. So, Scotland's share is around $17bn.

Is that enough to launch and defend a Scottish pound? The Danes hold around 3 times that.

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1 minute ago, Dave78 said:

 

 

The UK currently holds $173bn worth of foreign currency. So, Scotland's share is around $17bn.

Is that enough to launch and defend a Scottish pound? The Danes hold around 3 times that.

Does that include gold? 

We used to have loads of gold, but some twat decided to sell half of it at a time when it was about it's lowest price in the last 3 decades. That gold is current worth about 5 times what he sold it for.

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12 minutes ago, Orraloon said:

That's no quite true though is it? We need to say that we intend to use the Euro at some point in the future. And, at present, there is no rule in place to stop us putting that off indefinitely.

So you are putting it off indefinitely but only at present as well? Seems like you are contradicting yourself. If the rule allowing you to put it off can change at some point then you can never say indefinitely.

Anyway why agree even in principal to join a currency union when it inevitably means you be forced into political union as well or the currency will fail? Why do you think the Euro has such big problems, lack of political union, meaning you have big winners (Germany & Netherlands) and big losers (take your pick). 

The EURO is the meat grinder of nation states, it is a device to force political union and anyone who joins it will face a hard time getting out of it before it is too late. The fact they make you promise to join is really fucked IMHO. Says a lot about what their overall goals are here. The end of nations states in all but name. What is that pish about riding on the back of a dangerous beast... and how it is getting off it that is the really tricky part.

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13 minutes ago, thplinth said:

So you are putting it off indefinitely but only at present as well? Seems like you are contradicting yourself. If the rule allowing you to put it off can change at some point then you can never say indefinitely.

The UK and Denmark have permanent opt-outs.

https://eur-lex.europa.eu/summary/glossary/opting_out.html

 

Edit: Remains to be seen if Scotland could negotiate the same.

Edited by Dave78
...

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10 minutes ago, thplinth said:

So you are putting it off indefinitely but only at present as well? Seems like you are contradicting yourself. If the rule allowing you to put it off can change at some point then you can never say indefinitely.

 

It might be badly worded but it's still correct. At least in my head anyway.:lol:

The current rules of the EU do not compel a new members to use the Euro. There may be plans to change those rules that I don't know about though?

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37 minutes ago, Orraloon said:

Does that include gold? 

We used to have loads of gold, but some twat decided to sell half of it at a time when it was about it's lowest price in the last 3 decades. That gold is current worth about 5 times what he sold it for.

UK has 310 tonnes of gold after Broon's sell-off, according to Wiki. 1 tonne is worth $64m, according to this: http://demonocracy.info/infographics/world/gold/gold.html

So the UK has nearly $20bn worth of gold in its vaults. Scotland's share around $2bn.

By my (uneducated) reckoning, we're still well short of having enough to launch a currency on Day 1 of indy.

I see no alternative other than the growth commission proposal of a period of sterlingisation while reserves are built up.

 

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24 minutes ago, Orraloon said:

I don't think Scotland would be able to negotiate those opt outs, but I don't see any reason why we couldn't do the same as Sweden?

Indeed, those opt-outs were granted to the UK and Denmark to get them to sign up to the Maastricht treaty but of course the option of following the same path as Sweden and simply not adopting the Euro would be open.  

Anyway, according to GERS fans - that's fans of Government Expenditure and Revenue Scotland, not the Glorious Glasgow Rangers - we wouldn't be able to join the Euro even if we wanted due to size of our "deficit".

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1 hour ago, Orraloon said:

That's no quite true though is it? We need to say that we intend to use the Euro at some point in the future. And, at present, there is no rule in place to stop us putting that off indefinitely.

No I mean everyone needs to use the Euro in Europe otherwise the whole system will ultimately fail.

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14 minutes ago, phart said:

No I mean everyone needs to use the Euro in Europe otherwise the whole system will ultimately fail.

Ah right. I get you now. 

I didn't think you would make a statement like that without a good reason.:ok:

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1 hour ago, Orraloon said:

Does that include gold? 

We used to have loads of gold, but some twat decided to sell half of it at a time when it was about it's lowest price in the last 3 decades. That gold is current worth about 5 times what he sold it for.

The BoE also has a war chest in case the UK goes to war. 

What about bonds held by the BoE. 

Edited by antidote

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Mr Blackford now turns to the Labour Party, particularly their decision not to support today's amendment calling for a second referendum.

"A shiver has run along the front bench of the Labour Party looking for a spine to crawl up - and it hasn’t been able to find one," he says.

Well played. Whoops wrong thread.

Edited by Eisegerwind
Whoops
  • Haha 1

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On 3/12/2019 at 10:34 PM, antidote said:

🤪

You are a bit of a retard at times. You don’t justify these changes by quoting some persons mum whose son was knocked down as a justification. That is an appeal to emotion. When you remove freedoms from 5 million people on the back of a few incidents you need to do a cost benefit study. Using your dumbass thinking we should lower the speed limit to 10 miles an hour to eliminate all road deaths.  If anyone disagrees they should speak to the mum of the recently deceased mum. It is thick ass shit.

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1 hour ago, thplinth said:

You are a bit of a retard at times. You don’t justify these changes by quoting some persons mum whose son was knocked down as a justification. That is an appeal to emotion. When you remove freedoms from 5 million people on the back of a few incidents you need to do a cost benefit study. Using your dumbass thinking we should lower the speed limit to 10 miles an hour to eliminate all road deaths.  If anyone disagrees they should speak to the mum of the recently deceased mum. It is thick ass shit.

I love you too. 

I’ve never quoted anyone’s mum or someone getting knocked down and I’m well aware they do a cost benefit studies.

I’m more of the mind that there’s been consistent deaths on particular roads like the A9.

oh and there’s been more than just one death and there’s certainly more than just a mother mourning.

5 million deprived of their freedom because a few want to break the law?

let’s have a fee for all. Yippee!

 

 

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On 3/13/2019 at 11:55 AM, Dave78 said:

It may well be the case that Sturgeon is too progressive, and has strayed from the SNP's centrist course that has served it well over the years.

However....

"virtue signalling", "the Rothschilds", "do-gooders".... Seriously lads, just join the Tory/UKIP parties already. You'll feel better for it! :P

ha ha. no bother.

The central banking question is a real question though.

Somewhere in that 2.5 hour vid above this unusual guy nails the question...  

It goes along the lines of... why do we as nation states need to borrow money at interest from any 3rd party when we could just print it ourselves from the same blank paper (like the 'central bank' does) but at no interest? We are then enslaved by the interest because countries are not run for profit... but they are made to now.

It is the biggest non discussed subject in all our lives. How does money work and who 'owns' it. This subject is not talked about 100% by every politician no matter what creed.

 

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56 minutes ago, thplinth said:

You are a bit of a retard at times. You don’t justify these changes by quoting some persons mum whose son was knocked down as a justification. That is an appeal to emotion. When you remove freedoms from 5 million people on the back of a few incidents you need to do a cost benefit study. Using your dumbass thinking we should lower the speed limit to 10 miles an hour to eliminate all road deaths.  If anyone disagrees they should speak to the mum of the recently deceased mum. It is thick ass shit.

Whit ? Cost benefit? Cost of lives versus benefitting what? Getting somewhere 15 mins quicker ?  

And you can call me a retard too, I dont give a fck, I would rather have  emotion caring about a death than care about some boy racers ‘freedom ‘ to tear up the road or pamper to some stressed out person with no patience ragin that their liberties are being abused .

No one expects the limit to go to 10mph but on certain roads there is clearly too high a level of fatalities and if it means introducing speed cameras to bring down speed to a level that will reduce these then the thick ass is certainly not the person introducing them.  

 

 

Still reading the finnish think tank. 

 

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13 minutes ago, TDYER63 said:

Whit ? Cost benefit? Cost of lives versus benefitting what? Getting somewhere 15 mins quicker ?  

And you can call me a retard too, I dont give a fck, I would rather have  emotion caring about a death than care about some boy racers ‘freedom ‘ to tear up the road or pamper to some stressed out person with no patience ragin that their liberties are being abused .

No one expects the limit to go to 10mph but on certain roads there is clearly too high a level of fatalities and if it means introducing speed cameras to bring down speed to a level that will reduce these then the thick ass is certainly not the person introducing them.  

 

 

Still reading the finnish think tank. 

 

Yeah that is not pure appeal to emotion shite.

It is easy to look at one death and think taking away a small freedom from all to avoid it justifies it.

It is hard to scale up the loss of that small freedom to 5 million people versus some grief wracked mother dragged up by you greeting faced fecks.

Where it does become noticeable is when the endless list of tragedies that need fixing strip you of most of your freedoms.

God luck with the Finns.

Edited by thplinth

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2 minutes ago, thplinth said:

Yeah that is not pure appeal to emotion shite.

It is easy to look at one death and think taking away a small freedom from all to avoid it justifies it.

It is hard to scale up the loss of that small freedom to 5 million people versus some grief wracked mother dragged up by you greeting faced fecks.

God luck with the Finns.

😂😂 you are as frustrating as fook. 

You should try a different type of emotion some time, anger isny the only one out there 🙂

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5 minutes ago, TDYER63 said:

😂😂 you are as frustrating as fook. 

You should try a different type of emotion some time, anger isny the only one out there 🙂

You replied to my reply... to aaid (who has me on ignore)... in an somewhat emotionally charged post...

I just thought fuck it I'll knock one back for a change. 

edit: I dont even see what was wrong with my reply to your post looking back.

Edited by thplinth

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2 minutes ago, thplinth said:

You replied to my reply... to aaid (who has me on ignore)... in an somewhat emotionally charged post...

I just thought fuck it I'll knock one back for a change. 

edit: I dont even see what was wrong with my reply to your post looking back.

 I replied to your reply to Antidote, not Aaid. He had been talking about the reduction in deaths due to speed cameras. 

There was nothing wrong with your reply, you are just incredibly hard to argue with , and it is frustrating. So much so I am pretty certain I am being whooshed 🙂  

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I don't like arguing believe it or not. I'd be happy to post my posts and for no one to ever reply to be honest (unless I ask a direct question but yeah...). 

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11 hours ago, thplinth said:

I don't like arguing believe it or not. I'd be happy to post my posts and for no one to ever reply to be honest (unless I ask a direct question but yeah...). 

Hmmmm......where have I read that before?  ;)

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I don't get this idea that we should punish the majority of the population for the perceived bad behaviour of the small minority. It just doesn't work and it's bad politics. It just makes politicians think that they are doing sometime progressive to solve a problem, but they are really not. If they were to put as much effort into catching the folk who break existing laws and then modifying their behaviour, there would be little need for new laws punishing the majority of the population.

Speed limits are a good example. Average speed cameras are helping to enforce existing laws and they work, and they don't annoy most normal people. A blanket speed limit in towns of 20 is just a bonkers idea.

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i sense a slight change in mood regarding independence, there seems to be some momentum building and floating voters seem to be leaning towards independence, i still believe the key will be labour in all of this, if a handful of labour msp come out in support we will have it,we also need a euro sceptic indy camp possibly lead by mr sillars. 

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40 minutes ago, hampden_loon2878 said:

i sense a slight change in mood regarding independence, there seems to be some momentum building and floating voters seem to be leaning towards independence, i still believe the key will be labour in all of this, if a handful of labour msp come out in support we will have it,we also need a euro sceptic indy camp possibly lead by mr sillars.  

Ken what your are saying, loon. A lot will depend on Brexit. Very encouragingly - a non-political pal, but was probably a No he said - although he didn't vote and will trust what Scotland voted for in 2014 (the best I could get was an abstain) - is now a big Yesser. And another guy who ran a small business - trades with Holland I think - is now a big Yes man too.

Then you've got the likes of Murray Foote, Simon Pia, Mike Dailly who were pretty much staunch Naw in 2014 and now all three back independence. Foote was the Editor of the Record ; Simon Pia had a Tweet a few days back saying one of his biggest mistakes was voting No (considering whats happened since) ; and Dailly was so SLAB, him voting SNP and backing Yes now was real pigs will fly moment.

I'm near enough convinced that there will be a few more Labour veterans who'll back Yes if there is another second referendum. Mostly old, retired names e.g Chisholm, and his era ; but if a bookie would take my money, I'd stick a big wager on Kezia Dugdale supporting  Yes in a second vote.

The utter mess of the UK government surely has a lot of middle-class/soft No types thinking, surely we can do better than this nonsense.

Edited by weekevie04
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