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Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Scottish Banks Salivating at the Prospects for an Independent Scotland of 6 Million Debt Slaves

Politics / Scotland Sep 01, 2014 - 04:23 AM GMT

By: Nadeem_Walayat

Politics

Over the past 6 years the smoke has cleared and the mirrors have been shattered to reveal the truth of what Britain's banking industry is, one of the most corrupt of all activities that the elite utilise to concentrate the wealth of a nation into their pockets. The primary purpose of banking is to enslave EVERYONE and EVERYTHING and the epicentre of for want of a better word 'EVIL' is the CENTRAL BANK.


Whilst Alex Salmond continues to deluge the airwaves with propaganda surrounding the potential for 'sharing' of the Bank of England, the fact remains that UK politicians of all three major parties unequivocally continue to reject the SNP's cunning plan to effectively permanently park a Trojan Horse outside the Bank of England on Scottish Independence day that would effectively allow Scotland to go on an deficit spending binge on a sterling credit card by printing debt without the consequences of currency panic that normally would result in very high if not hyperinflation, but instead like a cancer seek to consume its English host over a number of years as the policy of sterling sharing sucks the financial life blood out of the British Pound.

However such scottish nationalists central bank sharing delusions are just not going to happen, two nations CANNOT effectively share the same bank account! The scottish people should not be taken in by these blatant LIES because it is just NOT GOING TO HAPPEN!

For instance recently Scotland's SNP Finance Minister, John Swinney was caught in the act when had made the following false statement -

“The Scottish government has had technical discussions with the Bank of England regarding our proposal for a currency union and we welcome their continued acknowledgement that the Bank will introduce what­ever the politicians decide,”

To which the Bank of England responded.

"To be clear, consistent with its statement in December 2012, the Bank of England has not entered into discussions with representatives of the Scottish Government about proposals for future monetary arrangements in Scotland"

Which prompted a humiliating climb down by John Swinney who stated :

“If by my choice of words last week I have given the impression that the Bank of England has been involved in negotiating a currency union, I can say to parliament that was not my intention.”

Therefore an Independent Scotland will have no choice but to impermanent its own central bank (one of many institutions) for which it will look at its own big banks for expertise to implement which I am sure has Scotland's banking crime syndicate headed by RBS (Royal Bank of Scams) salivating at the prospects of an Independent Scotland for they already have most of the nationalist politicians in their back pockets. After all Alex Salmond the future Prime Minister or President of an Independent Scotland is an former RBS BANKER.

Scotland's biggest bank RBS, the bank that nearly bankrupted Britain along with its Scottish Brethren HBOS, that resulted in the Bank of England standing behind both banks with unlimited tax payer liability that resulted in a 6 year economic depression (2008-2013) that Britain is only now starting to recover from at huge cost in terms of lost productivity and Inflation that has eroded purchasing power of average wages by more than 20% resulting in what is commonly termed as the cost of living crisis.

Despite what has transpired over 6 long years, still virtually every month another RBS scam makes into the mainstream press the latest of which is the FCA barely a few days ago fining RBS £14.5 million over so called mortgage advice. Which is merely a drop in the ocean of fines that run into the many billions that the TAX PAYER FUNDS via a myriad of scams operated by the Bank of England such as QE that I have covered at length in several hundred articles and 5 ebook's listed below (FREE DOWNLOAD).

Whilst focus is on past crimes there are still many future banking sector crime black holes to materialise on the event horizon such as currency manipulation that are more than capable of swallowing the monetary capacity of an Independent Scotland whole.

So whilst the Scottish Nationalists convientely try to forget the fact that had Scotland been Independent at the time of the financial crisis of 2008 then its bankrupt banks, namely RBS and HBOS given their more than £2 trillion of liabilities would have bankrupted Scotland's £160 billion economy more than 14 times over! in an economic collapse many times worse than Greece, and probably worse even than the spectacular near overnight collapse of Iceland. The bottom line is that the likes of RBS and HBOS will be able to run rings around Scotland's inexperienced, inept or corrupt politicians which ensures that another financial collapse would be CERTAIN no matter the promises politicians make today. IT WILL HAPPEN AGAIN and probably far sooner than any can imagine.

Whilst Scottish nationalists can be literally seen foaming at the mouth when discussing Scotland's oil revenue of £6 billion per year, however Scotland's weapons of mass financial destruction (its banks) ensure that this would merely be a drop in the ocean compared to liabilities that would run to over £2 trillion.

Ultimately the power to PRINT MONEY (Central Banks) and create credit (debt by means of fractional reserve banking) are the means of enslaving a population by means of DEBT AND INFLATION as I have covered at length in my Inflation mega-trend series of ebook's starting with the Inflation Mega-trend of Jan 2010 (FREE DOWNLOAD) and continuing to the latest on the prospects for the UK housing bull market into the end of 2018.

The Inflation Mega-trend EbookThe Interest Rate Mega-Trend EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Stocks Stealth Bull Market 2013 and Beyond EbookHousing Markets Forecast 2014-2018

Therefore no matter what Scotland calls its central bank one thing is for sure is that its primary focus will be to enrich its Scottish bankster brethren just as has been the case for the Bank of England.

The bottom line is that Scottish nationalists persistent delusional statements if wanting to INTERFERE in the finances of the UK post Independence sows the seeds of much resentment in the UK which will be made manifest in the financial, political, economic and social arena. A Westminister government that no longer needs to take into account the views of 6 million Scots will soon be telling the delusional independent Scottish nationalists to eff off to many of the demands that the SNP propagates today.

Source and comments: http://www.marketoracle.co.uk/Article47137.html

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2014 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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