PDA

View Full Version : Not a pound of debt...



AtW
17th February 2014, 13:41
No pound, no debt, says Salmond

Business news and markets: live - Telegraph (http://www.telegraph.co.uk/finance/business-news-markets-live/10643068/salmond-scotland-pound.html)

Well, as predicted cretin Osborne just ended up with all the debt. Is there any ex-UK colony that took on any debt, nevermind denominated in sterling?

Troll
17th February 2014, 13:51
No pound, no debt, says Salmond

Business news and markets: live - Telegraph (http://www.telegraph.co.uk/finance/business-news-markets-live/10643068/salmond-scotland-pound.html)

Well, as predicted cretin Osborne just ended up with all the debt. Is there any ex-UK colony that took on any debt, nevermind denominated in sterling?America eventually agreed to settle debts post Independence

AtW
17th February 2014, 13:52
America eventually agreed to settle debts post Independence

Debts to the French? :laugh

Doggy Styles
17th February 2014, 13:56
No pound, no debt, says Salmond

Business news and markets: live - Telegraph (http://www.telegraph.co.uk/finance/business-news-markets-live/10643068/salmond-scotland-pound.html)

Well, as predicted cretin Osborne just ended up with all the debt. Is there any ex-UK colony that took on any debt, nevermind denominated in sterling?:laugh

And you believe him!

Troll
17th February 2014, 13:56
Jay Treaty 1794



The United States guaranteed the payment of private prewar debts owed by Americans to British merchants that could not be collected in U.S. courts (the U.S. paid £600,000 in 1802).

AtW
17th February 2014, 14:03
Jay Treaty 1794

But that's private debt - not UK's official debt that was split for USA to take on.

doodab
17th February 2014, 14:04
Whether or not Salmond can actually negotiate zero debt rather depends on what else Scotland want post independence.

Presumably they are going to expect their citizens to be able to cross the border at will, not show a passport, work in the uk etc whereas it's quite possible an independent scotland could be treated more like eire, with the exception that scots won't have an automatic right to work in the uk, as they won't be in the eu. So there will need to be some negotiating there.

Troll
17th February 2014, 14:10
But that's private debt - not UK's official debt that was split for USA to take on.


Is there any ex-UK colony that took on any debt Paid for by the US ergo they took the debt on - how it originated wasn't part of your specification :smokin

If you wish to revisit your original question, then I may have an alternative answer :D

MicrosoftBob
17th February 2014, 14:13
Whether or not Salmond can actually negotiate zero debt rather depends on what else Scotland want post independence.

Presumably they are going to expect their citizens to be able to cross the border at will, not show a passport, work in the uk etc whereas it's quite possible an independent scotland could be treated more like eire, with the exception that scots won't have an automatic right to work in the uk, as they won't be in the eu. So there will need to be some negotiating there.

Couldn't we just put Hadrians Wall back into use ?

doodab
17th February 2014, 14:21
Couldn't we just put Hadrians Wall back into use ?

I bet they'd want to keep that as well. Tough shit, it's ours, we built it to keep them out.

AtW
17th February 2014, 14:22
Whether or not Salmond can actually negotiate zero debt rather depends on what else Scotland want post independence.

It's not even point of negotiation if Scotland can't use pound - no sane state (especially new) would take on state debt denominated in foreign currency.

AtW
17th February 2014, 14:23
Paid for by the US ergo they took the debt on - how it originated wasn't part of your specification :smokin

If you wish to revisit your original question, then I may have an alternative answer :D

Ok, point taken, I'll be more careful in the future...

GB9
17th February 2014, 14:27
No pound, no debt, says Salmond

Business news and markets: live - Telegraph (http://www.telegraph.co.uk/finance/business-news-markets-live/10643068/salmond-scotland-pound.html)

Well, as predicted cretin Osborne just ended up with all the debt. Is there any ex-UK colony that took on any debt, nevermind denominated in sterling?

Can't blame Osborne as all leaders agreed.

And we own their banks. I suggest we relocate them back to England. That'll do wonders for the Jock economy.

VectraMan
17th February 2014, 14:27
Presumably they are going to expect their citizens to be able to cross the border at will, not show a passport, work in the uk etc whereas it's quite possible an independent scotland could be treated more like eire, with the exception that scots won't have an automatic right to work in the uk, as they won't be in the eu. So there will need to be some negotiating there.

Does anybody really want passport controls and customs? That'd be a nightmare. But you're right: there are a million other things that need to be negotiated.

I remember crossing by car from NI to Eire pre-EU. There was a bloke in a box who just nodded when he saw us, and we carried on. Of course then there was an army checkpoint who were a little more serious about it all.

doodab
17th February 2014, 14:30
It's not even point of negotiation if Scotland can't use pound - no sane state (especially new) would take on state debt denominated in foreign currency.

Well what currency would new debt be denominated in?

DodgyAgent
17th February 2014, 14:59
Even if there is no debt when Scotland gain independence the socialists will start borrowing like fury in no time.

doodab
17th February 2014, 15:05
Does anybody really want passport controls and customs? That'd be a nightmare. But you're right: there are a million other things that need to be negotiated.

I remember crossing by car from NI to Eire pre-EU. There was a bloke in a box who just nodded when he saw us, and we carried on. Of course then there was an army checkpoint who were a little more serious about it all.

We'll have to have them, as with them outside the EU we'll have to control and tax imports of whiskey.

I wonder how many of the foreign semiconductor firms will relocate to remain in the EU.

ASB
17th February 2014, 15:34
Even if there is no debt when Scotland gain independence the socialists will start borrowing like fury in no time.

The initial budget I saw was well out of balance. There were 2 version. One which assumed 90% of oil revenues and one where it was somewhat different (presumably based on existing maritime borders).

But, with some new currency, no backing of it by any foreign reserves, and only oil revenues to play with (which they have of course already spent in the unbalanced budget) then it is a bit difficult to see quite how they are going to borrow.

Especially since they are, in effect, starting from a bloody great default.

AtW
17th February 2014, 16:14
Well what currency would new debt be denominated in?

$cottish $overeigns until such point euro zone entry agreed.

Rate - 1 $$ to 10 GBP.

HTH

P.S. I'd be happy to run Scottish Central Bank for $$ 100000 per year...

DodgyAgent
17th February 2014, 16:21
$cottish $overeigns until such point euro zone entry agreed.

Rate - 1 $$ to 10 GBP.

HTH

P.S. I'd be happy to run Scottish Central Bank for $$ 100000 per year...

For 20% I would be happy to let you :happy

doodab
17th February 2014, 16:22
$cottish $overeigns until such point euro zone entry agreed.

Rate - 1 $$ to 10 GBP.

HTH

P.S. I'd be happy to run Scottish Central Bank for $$ 100000 per year...

How will they maintain the peg with no foreign currency reserves? That oil money wont last long...

AtW
17th February 2014, 16:25
How will they maintain the peg with no foreign currency reserves? That oil money wont last long...

Soviet sailors spending hard earned rubles in ports currently used by the Royal Navy :smokin

MicrosoftBob
17th February 2014, 16:26
Soviet sailors spending hard earned rubles in ports currently used by the Royal Navy :smokin

I don't think that's the kind of pegging he had in mind

BrilloPad
17th February 2014, 16:52
How will they maintain the peg with no foreign currency reserves? That oil money wont last long...

Compulsary liposuction for the fat fookers. How is the market in human fat these days?

mos
17th February 2014, 17:10
Compulsary liposuction for the fat fookers. How is the market in human fat these days?

:rollin:

doodab
17th February 2014, 18:15
Compulsary liposuction for the fat fookers. How is the market in human fat these days?

The first rule of fat club...

scooterscot
17th February 2014, 18:20
On a daily basis Scotland generates a surplus of electricity between 30-35% that is sent over the border. I guess it'll be useful to keep it this side of the boarder to reduce electricity prices.

eek
17th February 2014, 18:31
On a daily basis Scotland generates a surplus of electricity between 30-35% that is sent over the border. I guess it'll be useful to keep it this side of the boarder to reduce electricity prices.

You really don't have a clue how markets work do you :rollin:

BrilloPad
17th February 2014, 18:33
On a daily basis Scotland generates a surplus of electricity between 30-35% that is sent over the border. I guess it'll be useful to keep it this side of the boarder to reduce electricity prices.

Will it stop the Scots whining?

scooterscot
17th February 2014, 18:41
You really don't have a clue how markets work do you :rollin:

They're biting sooner than I expected....

eek
17th February 2014, 18:48
They're biting sooner than I expected....

No just eating :popcorn: as king :cretin: shows new levels of cretinness....

xoggoth
17th February 2014, 18:49
As a nationalist, I am all in favour of the Scots being in control of their own destiny. Good luck to them. For exactly the same reason I am totally opposed to any currency union. We, like them, should be able to control our own economy without reference to a foreign state whose policies we have no control over.

The idea that they should be able to walk away from their debt unless they share our currency is absurd. They can have their own currency and shoulder their own debt, the rest of the UK can have its own currency and shoulder its own debt. What is remotely unreasonable about that?

xoggoth
17th February 2014, 18:52
shows new levels of cretinness

Please eek, don't make me add you to my sasguru list!

PS CUK, please make a new "add to sasguru list (biggest twat in Christendom)" category.

minestrone
17th February 2014, 18:57
And we own their banks. I suggest we relocate them back to England. That'll do wonders for the Jock economy.

You can have them, they are completely fooked and clearly unfixable.