What about the interest rates? What about your house rates, will these stay the same. Currency changes in value, so would Scotland currencey change, your money would not be the same value.Originally Posted by squidge
No
Yes
1K.Orger
And again
Lets see. In the event that WM maintains its economically suicidal position of no currency union, Scotland will have a range of options to choose from all of which are available for anyone to google - if you want the links let me know.
The answer to which currency Scotland will have if it doesnt get a currency union ( i would prefer that we didnt have one to be honest) is that we would have OUR OWN currency and we that might be whatever the hell we want it to be.
The effect on every man, woman and child in Scotland is that they would still ahve money in their bank, they would still have wages form their employer, they would still get their benefits, their pensions and their dividends, they would still be able to pay their bills, they would still be able to go to the shops and do their shopping, they would still be able to get tax rebates and buy stuff on amazon and ebay.
All currency options have pros and cons and they are laid out here for all to see. This image is taken from the Fiscal commissions working group report and illustrates the options quite nicely
Attachment 25767
It might be worth telling us what currency YOU think an Independent Scotland would have Better Together.
Last edited by squidge; 08-Sep-14 at 12:26.
.Orger
What about the interest rates? What about your house rates, will these stay the same. Currency changes in value, so would Scotland currencey change, your money would not be the same value.
Banned
Why don't you take on the challenge BetterTogether? Although the sad reality is that it will be hitting your pocket heavily from tomorrow as you pay for all the poor sods facing eviction over the bedroom tax and standing outside the foodbank dishing out aid like a 3rd world country!!! Although within 2 days of you accepting the challenge you too will be facing those dilemmas as you have no money left to house or feed yourself!!!
1K.Orger
The scaremongering is littered throughout your posts - what if's, but's, & how's - if you can't see them then you're obviously totally blind to what we Yes voters are voting for anyway... the potential for a fairer society where the politicians we vote in work for the good of the people they are voted in by... not by an out-of-touch elite voted in by the other 90-odd percent majority of this 'Union'! Politicians who are accountable to their voters and who can be ousted by the same if they stray from their task.
In answer to your your own specific concerns regarding currency, the EU, etc., I'll take my chances and allow the politicians who were voted into power by the Scots people to make those decisions. Personally I'd like to see us continuing to use the pound (with or without a currency union) but phasing in a new Scottish currency to take over it in time, but am happy to wait & see what comes to pass.
I definitely wouldn't say I'm scared of Independence. I'm a rational and patient person (I have to...I work in IT!) with, I consider, a smattering of common sense. I've done my research and come up with the answer that I feel best suits the future of me & my children. I hold no grudge with anyone who has likewise done their research and come to a different conclusion (tho' reserve the right to shake my head at those doing it blindly without any prior thought), and whether the 18th returns a Yes or a No I'll hold my head up high at the choice I made and just get on with life.
.Orger
I have tried to avoid commenting on any of these referendum posts as it is somewhat unnerving the backlash others have experienced in doing so, however, the argument that the Better Together campaign is 'scare-mongering' is old. I have seen increasing evidence of that very type of campaign from the 'Yes' voters. Not once, but multiple times, have I been told that I would be a 'disgrace', 'not a true scot', if I were to vote no. There is the increasing aggression as the campaign progresses that we HAVE to vote yes if we have any integrity or pride in our nation. This is ridiculous - there is a difference between being a nationalist and being patriotic. I love Scotland, and thus, I want to do what is best for Scotland. I do not believe that this is the right time for independence. I read an article a few days ago from a well-established newspaper (not The Sun, before any of the Orgers try!) that mentioned when Norway opted for independence, 98% voted yes - what a landslide and a clear togetherness for the same cause. If we as a country can't even agree on whether we should be independent - then we shouldn't be independent at all.
Last edited by Wiseowl; 08-Sep-14 at 13:22. Reason: Missed word
1K.Orger
If the vote is YES then I will absolutely do what you suggest and out my money where my mouth is. I do that already and I will continue to do so. You know what Better Together I might even go one step further and put my entire financial security where my mouth is because i might just stand for the parliament where i can be judged on my successes and failures by the electorate. I have always said that I would not do that. That im not thick skinned enough but you know what - maybe i am. You and your ilk have spent the last 2 years insulting me and people like me, you have sneered and suggested that we are naive and ignorant and stupid and fascists and nazis and as bad as Britain First and out for ourselves and lazy and thugs and on and on it goes. Maybe im more thick skinned than i thought. That isnt something i can guarantee though because i would need to be elected. Because you see Better Together, what your campaign has missed out completely is that the YES campaign is based on Scotland itself having the power to make Scotland fairer and better for all the people that live here. Even you.
Banned (Sock Puppet of previously banned user)
So there we have it the harsh reality is the Yes voters still believe they will get a currency union. Despite being told over and over and over again there will be no currency union.]
We have the then amazing statement that a country of 60 million people and 6th largest economy in the world will be committing economic suicide by not allowing a country of 5 Million to use its currency.
The mendacity of that statement alone is idiotic beyond contempt and shows the posters true lack of economic intelligence.
The whole future is ifs, buts and maybes that is what discussing the potential problems is about, it isnt scaremongering. But just denying those problems even exist is why most yes voters are burying their heads in the sand and ignoring the harsh realities of what happens when there is no currency union. Instantly you cant enter the EU as you have no central bank and so starts to unravel all the delightful fairy stories which the SNP have spun. Its a shame that so many posters on this forum are unable to hold a discussion.
As for you squidge having seen how you conduct yourself on the caithness... im not sure its really worth discussing anything with someone of your moral standpoint. Any moral position you try and take on a free and fair society is entirely undermined by your posts which are there for all to see. I didnt believe it until I went and looked myself.
I had heard that this particular org had quite a vociferous amount of bullying yes supporters it would appear that is the case. I have also heard and seen evidence of posts being unnecessarily removed by moderators for apparently no good reason. Maybe someone would like to email me and explain why this suppression of free speech and debate is occurring on this org ??
1K.Orger
Ok Scout Deep breath and lets answer your question about interest rates.How nice it is to see a real question, it deserves a common sense answer.
The short answer to your question whether Scotland is in or out of the UK no one knows what the interest rates will be. But it is more complicated than that. If we are in a currency union then the interest rates will be the same as the rest of the UK. Thats because the interest rates will be set, just like they are now by an independent Bank of England.
If we are not in a currency union then it may be likely that your interest rates will change. And that will happen in the rUK as well. See without a currency union, the pound will struggle to maintain its value, we are seeing that now. The £ is worth what it is worth partly because it is underpinned by oil and the Scottish Economy. Without those resources the £ will struggle and the economy of the UK will also struggle. No one wants that and that is why The Scottish Government believe that the best option both for Scotland and the rUK is to be in a currency union.
So will a No vote mean that housing costs and interest rates will stay the same? Nope it wont. The UK economy even without Scottish independence is a fluctuating thing. Financial commentators say that an interest rate rise is on its way. Borrowing costs for the UK are already rising - up around 10% i think and i posted already that the Uk is the only country in europe where the costs of borrowing are increasing.
Its interesting to note also that the Bank of England said that unemployment would have to fall bellow 7% I think before they would consider a rate rise and it is now below that figure. The committee that makes the decisions is already split on the issue with some members voting already for a rate rise.
So the notion that staing in the union somehow protects Scotland from interest rate rises is not true.
Banned (Sock Puppet of previously banned user)
now that really is a post which is showing the true scaremongering of a yes campaigner at no stage have i even hinted that you are any of the things you suggest. Infact im quite amazed that you bring them to this forum and expect to be taken seriously. You have verged on using hate speech by entering those phrases into this conversation all it shows is there really isnt a limit to how low you will stoop to try and score a political point. Its a shame that you feel the need to bring such awful phrases into this org and sully a debate by throwing about such insults
Banned (Sock Puppet of previously banned user)
I shall gracefully withdraw from this debate now as I refuse to have hate speech directed at me by another poster. Im sorry if I am unable to continue but the terms being used by the above poster are totally unacceptable within a civilised debate.
1K.Orger
One thing that you cant hide from is markets and the financial markets dont reponse to uncertainy in a positive manner : see http://www.bbc.co.uk/news/business-29103445 : of course the pound will struggle, its struggling now and dont think that this critical situation will be resolved on day 2 of a post yes vote, truth is it will take months of negotiations to resolve isses and in that time the UK as a whole will be pounded by the markets and Scotland wont be sheltered, an undisputed fact !Ok Scout Deep breath and lets answer your question about interest rates.
The short answer to your question whether Scotland is in or out of the UK no one knows what the interest rates will be. But it is more complicated than that. If we are in a currency union then the interest rates will be the same as the rest of the UK. Thats because the interest rates will be set, just like they are now by an independent Bank of England.
If we are not in a currency union then it may be likely that your interest rates will change. And that will happen in the rUK as well. See without a currency union, the pound will struggle to maintain its value, we are seeing that now. The £ is worth what it is worth partly because it is underpinned by oil and the Scottish Economy. Without those resources the £ will struggle and the economy of the UK will also struggle. No one wants that and that is why The Scottish Government believe that the best option both for Scotland and the rUK is to be in a currency union.
So will a No vote mean that housing costs and interest rates will stay the same? Nope it wont. The UK economy even without Scottish independence is a fluctuating thing. Financial commentators say that an interest rate rise is on its way. Borrowing costs for the UK are already rising - up around 10% i think and i posted already that the Uk is the only country in europe where the costs of borrowing are increasing.
Its interesting to note also that the Bank of England said that unemployment would have to fall bellow 7% I think before they would consider a rate rise and it is now below that figure. The committee that makes the decisions is already split on the issue with some members voting already for a rate rise.
So the notion that staing in the union somehow protects Scotland from interest rate rises is not true.
1K.Orger
IN case you missed it on the other side Better Together I dont care what you think of me.
Lets focus on the issues and not the frothing at the mouth stuff that you seem to be doing just now.
It isnt just the Yes Campaign that believes there will be a currency union. Here is Andy Brough, the Executive Director at Schroders Investment Management Ltd explaining it.
If Scotland becomes Independent then the UK will lose 10% of its GDP overnight.
Im not fussed for a currency union to be honest - i would prefer a stand alone currency but you know - whatever it is - we will still HAVE a crrency, we will still have a Bouyant and varied economy and we will still have significant natural resources.
If you dont want a currency union so be it.
.Orger
Byeeeeeeeeeeeee!
.Orger
Great thank you for answering my questions. I agree with most you have said this time, just the one part about value to the money falling as well; this would happen in England. I agree to point; however Scotland own currency would not be known as much as the pound, and would fall a lot more than the pound. With this in mind, your money would be different in your pocketsOk Scout Deep breath and lets answer your question about interest rates.
The short answer to your question whether Scotland is in or out of the UK no one knows what the interest rates will be. But it is more complicated than that. If we are in a currency union then the interest rates will be the same as the rest of the UK. Thats because the interest rates will be set, just like they are now by an independent Bank of England.
If we are not in a currency union then it may be likely that your interest rates will change. And that will happen in the rUK as well. See without a currency union, the pound will struggle to maintain its value, we are seeing that now. The £ is worth what it is worth partly because it is underpinned by oil and the Scottish Economy. Without those resources the £ will struggle and the economy of the UK will also struggle. No one wants that and that is why The Scottish Government believe that the best option both for Scotland and the rUK is to be in a currency union.
So will a No vote mean that housing costs and interest rates will stay the same? Nope it wont. The UK economy even without Scottish independence is a fluctuating thing. Financial commentators say that an interest rate rise is on its way. Borrowing costs for the UK are already rising - up around 10% i think and i posted already that the Uk is the only country in europe where the costs of borrowing are increasing.
Its interesting to note also that the Bank of England said that unemployment would have to fall bellow 7% I think before they would consider a rate rise and it is now below that figure. The committee that makes the decisions is already split on the issue with some members voting already for a rate rise.
So the notion that staing in the union somehow protects Scotland from interest rate rises is not true.
1K.Orger
God - did i just become the oracle? its a good job im off today.
Hi
Ill just answer these two questions here if that ok and come back to post 85 after as i have real life stuff to do too.
The answer to both these questions is - i dont. I would prefer a stand alone currency but i dont think im going to get that so I would settle for a currency union and lobby for change once we are Independent.
if you are asking me. Why would an Independent Scotland want the rUK to set its interest rates then thats a different question and the answer to that is because it hleps to ensure market stability - a bit like the answer to Robs question above which points out that there will be instability. A CU would remove that instabiity. It also makes it easier to do business between England and Scotland and it also helps to underpin Sterling and guarantee the debt which the UK has.
The answer to the second part is pretty similar too. IT would take the risk because the benefits of the union would outweigh the risks. So by being the lender of last resort they ensure stability in the markets, they ensure that the assets of Scotland underpin the economy and that they hold onto the 10% of GDP which would be lost if Scotand was outwith a currency union.
1K.Orger
You make your point rather pointedly.....ie to many no one knows, maybes...short answer is you dont know, the one thing with any certainty known is that the markets are going to hit us and theres no maybe aye / maybe no in that scenario !Ok Scout Deep breath and lets answer your question about interest rates.
The short answer to your question whether Scotland is in or out of the UK no one knows what the interest rates will be. But it is more complicated than that. If we are in a currency union then the interest rates will be the same as the rest of the UK. Thats because the interest rates will be set, just like they are now by an independent Bank of England.
If we are not in a currency union then it may be likely that your interest rates will change. And that will happen in the rUK as well. See without a currency union, the pound will struggle to maintain its value, we are seeing that now. The £ is worth what it is worth partly because it is underpinned by oil and the Scottish Economy. Without those resources the £ will struggle and the economy of the UK will also struggle. No one wants that and that is why The Scottish Government believe that the best option both for Scotland and the rUK is to be in a currency union.
So will a No vote mean that housing costs and interest rates will stay the same? Nope it wont. The UK economy even without Scottish independence is a fluctuating thing. Financial commentators say that an interest rate rise is on its way. Borrowing costs for the UK are already rising - up around 10% i think and i posted already that the Uk is the only country in europe where the costs of borrowing are increasing.
Its interesting to note also that the Bank of England said that unemployment would have to fall bellow 7% I think before they would consider a rate rise and it is now below that figure. The committee that makes the decisions is already split on the issue with some members voting already for a rate rise.
So the notion that staing in the union somehow protects Scotland from interest rate rises is not true.
1K.Orger
You are welcome. Our money would indeed be different in our pockets I hear done old lady said " What do I care if our currency is marbles as long as when i give my marble over i get a loaf of bread"
Scotland's own currency could be pegged to the value of the £sterling if that is what was best for Scotland. That would mean that fluctuations in currency rates would be minimised.
.Orger
You are THE one Squidge Neo!
Banned
I assume budgej is referring to a post they made, and I'm sure they would remember if they had deleted it themselves. Perhaps it contained sensitive content that alarmed admin. You as a moderator bob should know this.
1K.Orger
There are absolutely no certainties in the economic arguments from either side Rob except one.
And ill say it again though im sure that people have seen me say it before.
In an independent Scotland money raised in Scotland from whatever sources would be spent on the priorities of Scotland which are decided by the voters - thats you and me guys - and delivered by the Government that we choose.
Thats it - thats the only truth and it is very different from what happens now.
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