POLITICAL BETRAYAL OR PATRIOTIC CAUSE?

A guest post from Neil Tye. Biographical details at article end.

Political Betrayal or Patriotic Cause? 

The consequences of choosing a ‘Scottish Currency’ is the most important political and economic decision this decade. YES, it’s very important.

The Three Objectives:

This document’s primary objective is to determine which side of the fence the current SNP Scottish Government and the SNP Party prefer to stand.  Are they standing on Scotland’s side or are they on the Union side? In order to deduce the answer there is a simple test by observation and written statements that will define and signal their actual position as either betrayers or patriots of the Scottish People. The observation relates solely in their policy decision and selection for our future Scottish currency. What is important is the process of introduction for that currency and the caveats that are attached as conditions. There is only one currency that can be chosen from a choice of two, either the UK£ Sterling or our own new currency, currently known as the Scot£.  

The secondary objective is to provide and stimulate a greater understanding of what Scottish Independence and our choice of currency really means based on the reality of Government Economics supported by new macroeconomic research and knowledge. The Scottish Independence public debate is becoming more polarized because of mainstream media reporting that criticises and feeds public discourse away from the reality of national governance by using the same platitudes of unsubstantiated rhetoric, emotional appeals and simple slogans. 

What is needed is a composite and simplified analysis of the positive benefits for ‘Scottish Independence’ against the positive benefits (if any) of remaining within the ‘Union’ under the continuing control of a Westminster government. 

The tertiary objective of this document is to be able to dissect the potential currency policy choices and create an informed backdrop upon which to build a constructive public debate focussing on the reality of those future policy decisions ensuring that they will categorically lead to social and economic wellbeing for Scotland.

The Provision of Knowledge to understand Full Independence:

The Scottish Independence ‘YES’ movements and particularly the Scottish electorate must understand that ‘Independence’ is not just about obtaining our political freedom and terminating the UK ‘Treaty of Union’. Independence also encompasses the very necessary issue of ‘Financial Independence’ and its provisions for beneficial economic outcomes for Scotland.

The definition of ‘Independence’ encompasses the synonyms ‘Autonomy’, ‘Freedom’, ‘Individualism’, ‘Self-reliance’ and ‘Self-sufficiency’. Therefore, make no mistake Independence includes our ability to manage our own financial powers without any exogenous interference or restrictions, whatsoever.

Without macroeconomic financial autonomy the fiscal and monetary policies for a future Independent Scottish government would continue to become merely an extension of our current financial, social and economic malaise, due to a lack of ‘Fiscal & Monetary Policy Space’.

If you are a supporter of Scottish Independence and understand these fundamental macroeconomic principles then please read on, because there are other important features concerning modern progressive economics that need to be considered and digested. Conversely, if you are confused while listening to the dithering statements emanating from Holyrood and the SNP Westminster group don’t worry, you are not alone.

Confusion of macroeconomics (economics at government level) within the public domain is caused by two principal denominators, media bias and political ignorance. Within these two denominators there are sub-divisions that relate specifically to political and economic ideologies. 

Returning to the subject of ‘knowledge’; the state of confusion that currently exists within society can only be defused by a greater proportion of knowledge. Confusion is then metamorphosed into a state of enlightenment and then paradoxically opens the door of truth and reality. What you thought was true, was in fact something else, an untruth. 

Then the consequence of knowing makes one want to question the whole purpose of politics and indeed, is there a need for politicians, at all! Their collective inability to solve the simplest of economic requirements makes you want to scream. One cannot help pondering, long into the night, how can this be resolved?

Ironically, we do need politicians, but I have also come to the simple conclusion that politicians are really not the type of people you need when national economic solutions are urgently required. If they were working in any other profession; engineering, medicine, aviation or education; they would be subjected to an inquest of professional accountability and fallacious behaviour, then struck off the register, forever. However, for some unknown reason this doesn’t happen in Politics. Change is needed. There obviously needs to be a tighter rein on ‘Politicians’ by the ‘People’, but that is another social problem that needs to be addressed and deserving of its own platform.  

The Road to Scottish Independence is a question of Betrayal or Patriotism:

 The above statement is not to be taken in jest. It is a serious retort because the Scottish people have a heritage and a primary ethos which is, their culture needs to be protected. Not by others, but by their own kin. Here listed below are the conditions to measure the Betrayal or Patriotism:

What is the ‘Betrayal’?

If the SNP Party policy for Scottish Currency is:

  1. Using the UK£ Sterling after ‘Independence Day’ for a specified future period of between five to ten years or until the six economic tests are met which demonstrates that the Scottish economy has sufficiently proven its long-term certainty before committing to a Scot£.

2. Using the UK£ Sterling without HM Treasury approval after ‘Independence Day’ 

What is the ‘Patriotism’?

  1. Using the UK£ Sterling up to and before ‘Independence Day’ and then issuing our own new Scot£ currency on ‘Independence Day’ and thereafter.

 So, what does all this mean and what are the reasons for the acquisitions. Here are the choices: 

The differing cases of financial economic potential with only two currency choices:

  1. UK£ Sterling: HM Treasury and Bank of England currency

There is nothing stopping an independent Scotland continuing in its use of UK sterling, but the implications are huge. It would place the control of the Scottish economy into the hands of UK HM Treasury and the Bank of England who jointly will have control of Scottish monetary powers including inter-Bank interest rates and the amount of money within the Scottish economy. In other words, Scotland will be selling its wealth-giving monetary and fiscal powers back to the Westminster.

Incidentally, a previous UK government ‘White Paper’ made the biased statement by suggesting that by keeping the UK£ Sterling, ‘would set out a strong position and that retaining it would provide a overarching framework for Scotland post independence and that a shared currency would be in the interests of the UK given the trade and financial links with Scotland’. Unfortunately, such statements do not reflect the reality of the arrangement based on the current evidence that the ‘Union’ has been, in any way, beneficial to the Scottish economy. In fact, the evidence and reality shows us quite the opposite position.   

Additionally, using Sterling without permission from the HM Treasury could endanger the stability of the nation’s financial sector because there would be no ‘Lender of Last Resort’. This means losing the services of the Bank of England if the Scottish economy faltered and required a massive borrowing of sterling. Scottish Central Bank will not have the fiscal powers to act as the ‘Lender of Last Resort’ to financially support the Scottish economy because it will not be able to issue currency.

In order to use UK£ sterling Scotland would have to accept HM Treasury limits on its budget deficit (the difference between expenditure and income) and its government debt. That means the amount of borrowing (debt) by issuing debt instruments (Gilts, Bonds or Treasury bills) through the Scottish Central Bank – Debt Management Office (DMO) would be limited.

The Bank of England would certainly not support our economy in the event of any economic crises, like the GFC (Global Financial 2008), or a recessionary down-turn because of international conflict or when the climate change effect needs to be financially tackled and managed. This is a great risk.

Additionally, another risk in using the UK£ Sterling is that the current UK Government handling of the UK economy has created an unstable and irresponsible state of worsening financial inequality and a return to recessionary economics. This policy is unsustainable and along with other national economic policy errors such as the effect of ‘Brexit’. 

The evidence of this political mismanagement is openly visible as the current international value of £Sterling to the US Dollar and the €Euro is at its lowest levels since 1985, and still falling (£1 = $1.039) with an impending inflation rate of 15% on its way. All this has and will continue to affect the Scottish economy making the cost of our imports much greater. 

If the UK£ Pound is maintained as our Scottish currency for many years then all economic beneficial outcomes will be considerably limited and the economic growth necessary to increase our ‘GDP per capita’ to reach parity with other European nations will evaporate. 

The differing cases of financial economic potential with only two currency choices:

  • Scot£: Scottish Treasury and the Scottish Central Bank currency

A Scottish Government with its own sovereign currency (Scot£) can legitimately claim that any of the normal social necessities of a nation (Education, Health service, Energy, Transport, Welfare, Employment, Food, Housing) ‘are affordable’. These are all possible, but with one important condition and that is it must have sufficient REAL & NATURAL RESOURCES assets that can be mobilised to pursue these goals. Scotland is awash with these important resource assets.

The Scottish Sovereign currency (Scot£) has to be free-floating on the International Foreign Exchange Rate system (‘FOREX’). Floating the domestic currency eliminates the possibility of a default on financial commitments and will provide the Scottish Government the financial resources to sustain Economic Growth for the Scottish people. In this way it will be possible to enable feasible economic policies to be endorsed. Importantly, the Scottish government must not peg, at a fixed rate, our Scot£ currency to UK£ Sterling (as stated in the SGCR Report, Page 51 – 3.213); because this will revert all Scottish financial powers back to the Westminster government. 

Importantly, by having a Scot£ currency this will allow the Scottish Treasury to manage and withstand any economic financial shocks thus protecting the economy due to any exogenous financial circumstances. Its powers would include having greater freedom to set its own macroeconomic policies and gives Scottish Treasury the control over Fiscal ‘Expenditure and Taxation’ alongside Scottish Central Bank control of ‘Monetary Policy’ with currency issuance and Inter-Bank Interest rates.

With its own currency, Scotland will be able to return to the European market which would be a rapid process by joining the European Free Trade Association (EFTA) and the European Economic Area (EEA) groups.  This includes Iceland, Liechtenstein, Norway and Switzerland and the agreement contains provisions on Trade, Agriculture and Fish products. The core of the rules relates to the free movement of goods, capital, services and persons throughout the other 30 EEA States of the EU.

Using our Scot£ currency the Scottish Treasury, which will sit at the head of the Scottish government administration, is responsible for setting-out the precise and important legislative Scottish Parliamentary protocols that approve budgetary annual expenditure into the various government directorates (Ministries) on an annual and continuous, ongoing process. These will be known as the ‘Supply Estimates’ through various acts of the Scottish Parliament that will provide guarantees by undertaking interventions for the purposes of economic and financial stability. Nevertheless, all Scottish Government expenditure will have to be authorised by Scottish parliamentary consent and consequently the ‘Supply Process’ is a multifaceted affair. 

The application of these parliamentary protocols, for budgetary expenditure, will allow the Scottish Treasury department at the Scottish Central Bank to guarantee the issuance of credit notifications or ‘allowances’ that represent a form of ‘money’ or ‘credit’ that will convey the power of spending into the Scottish Government’s Banking System through its principle account being the ‘Consolidated Fund Account’ at the Scottish Central Bank. Taxation is not necessary in this process to determine the necessary levels of government expenditure.

The Macroeconomic Research and the Financial Model for an Independent Scotland:

As previously mentioned, the Scottish Independence public debate needs an injection of new thinking and that comes openly from a private research study of the UK Government’s Economic Model known as ‘An Accounting Model of the UK Exchequer and Treasury’. This study and its findings culminated in 2021 after three years of dedicated research. It describes the actual financial functions of UK Governance linking Parliament, Government, HM Treasury, Bank of England and the wider financial sector.

The study has been approved by the University College London (UCL) with its publication ‘The self-financing state’. It has also been presented to the UK Government’s bank, The Bank of England. A recent discussion between the authors, UCL and the Bank of England Research Group took place at the Bank of England. I know this because, as a parent of one of the authors, I have witnessed its creation, discussed its detailed findings and shared in its revelations.  

It is the first time, within the UK public domain, that a comprehensive research programme has been completed and published describing the precise legislative, administrative and financial mechanisms that drive the financial operations of the Independent UK Government. 

This omission within economic literature is perhaps surprising, and some may assert damning, that the UK academic economics profession has, to date, not conducted its own study of the UK Exchequer in the interests of public education. Why not, you ask? I say, Educational Control!

The above mentioned 205 page study is mathematically complex but descriptively well written with enlightening information especially for those progressive macroeconomic thinkers dotted throughout the Islands, Highlands and Lowlands of Scotland. It describes an economic model that can be adapted and adopted for our own bespoke Independent Scottish economy. 

The overriding feature of the study is that it dissects all of the main features of Parliamentary and Government protocols, Treasury Exchequer powers, Central banking and Banking services with respect to ‘Accounting’ functions and Ministerial departments budgetary requirements for financial and economic development, not forgetting taxation.

Additionally, it details the reality of Government Funding and the real purpose of Taxation. It explains the Government’s Bank accounts at the Bank of England and there inter-functionality. There are many more facets of Government management explained along with all historical references back to 1694 from the incorporation of the ‘Bank of England’.

The most important aspect of UK Government finance lies in the little known ‘Act’ called the ‘Exchequer and Audit Departments Act 1866’ (EADA).  This single ‘Act’; particularly sections 13 and 15; authorises the Treasury to be granted ‘credit’ payments to its ‘Exchequer’ account from the Governments Consolidated Fund account at the Bank of England. Thus, all government expenditure is financed by the authorisation of Parliament. 

It is worth noting that much of what is conceptualised in mainstream debate concerning the government’s macroeconomic model is contrary to the reality. A simple example of this is the ‘government budget constraint,’ that implies government spending is restricted because it is sourced from maintained balances of taxation. This is wholly untrue.  

The simple Macroeconomic Solution for National Economic & Social Wellbeing of Scotland:

So, the first ‘Bills’ and then ‘Acts’ for the new Scottish Parliament must include a replicated version of the ‘Exchequer and Audit Departments Act 1866’,  for its own Scottish Exchequer.

In Scotland what we seriously need are politicians who are fervently and dynamically dedicated to the cause of Full Independence and knowledgeable in every facet of how economic growth allied to social and financial wellbeing, are all possible with the optimum financial policies and as explained in this very short treatise. 

It is our own currency that will deliver our wellbeing, not somebody else’s. In order to achieve that economic requirement it will be a necessary to operate within the following framework of international economic banking conventions and conditions:-

  1. The Currency must be issued into the Scottish Economy (Commercial Banks) one month before Independence Day:
  • Scot£ currency becomes the official currency on Independence Day:
  • The Scot£ currency must be Free-floating on the FOREX International Currency Foreign Exchange mechanism:
  • Scot£ currency is issued only by our own Scottish Central Bank:
  • The Scottish Central Bank (Government Account) has no foreign currency debt:
  • Scottish Central Bank makes no promise to redeem the currency for gold/other commodities:
  • All government Scottish taxes are payable only in the sovereign Scottish Scot£ currency:

My Comment and Final Conclusions: 

What is needed is a blank sheet of paper with the above conditions written in bold capital letters.  If the SNP do not apply these conditions as their Policy choices then they are confirming who they stand beside and it will be a betrayal of the Scottish People.

If the UK£ Sterling is retained as our currency then economic growth will be limited and places our economy at high risk.

The logic of the previous arguments is beyond question because education gives knowledge and knowledge provides the solutions. It’s so simple the mind is repelled. (JKG)

The importance of what ‘Full Financial Sovereignty’ means is paramount for the economic prosperity and wellbeing of Scotland from ‘DAY ONE’ of independence. 

The way forward is with our own Scot£ currency that will allow us to re-enter the European Markets by joining EFTA and the EEA agreement. Our Scottish economy will grow throughout the EU market with a population of 446.8 million in Jan 2022. 

If we use our own currency from day one of ‘Independence Day’ then within ten years we will have grown our economy by 50% and on our way to economic wellbeing parity with other successful European nations. 

Staying alongside the slowly decaying economy of the rUK will be to our detriment and International disbelief. 

Neil Tye – 26.09.22 

Profile

Born 1947 in Bristol, third son of an Aeronautical engineer. Began my working career as a Chartered Topographical Surveyor and formed my first company in 1971 as Consulting Survey Engineers based in Cheltenham. Transferred with my family to Kishorn, Scotland in 1976. Developed first computerised measurement and structural models for modular fabricated oil platforms construction . After, forty years in this industry throughout the world, 26 Countries and incorporating lecturing and training schools in six countries. In 2012 invited to join the 26 man engineering team as consultant to work and advise on the salvage and re-floating of the ‘Costa Concordia’ capsized cruise liner at Giglio. While based in Italy, developed my interest in economics from 2009 especially interested in researching the causes of the GFC. Advanced my studies in macroeconomics through on-line courses at the University of NSW, Australia. Now a fervent Scottish Independence supporter and my goal is to establish an educational academy for macroeconomics. Join the ALBA Party in April 2021.

Family. Wife Lorraine, Two sons and five grandchildren:

Pleasures: Rugby and Cycling.

Abode: Rosemarkie, Black Isle, Highland.

Regards

Neil
Sent via BT Email App

MY COMMENTS

My thanks to Neil for this, the article is a bit longer than the normal for this blog but Neil was keen for it to be published and as the SNP Conference is ignoring the currency issue and was wanting to charge the Scottish Currency Group £2000 for a small stall, which they quite rightly rejected, I thought people could debate this important issue, through this blog, totally free of charge.

I am, as always

Yours for Scotland.

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74 thoughts on “POLITICAL BETRAYAL OR PATRIOTIC CAUSE?

  1. An excellent article. One of the best I have read for years and in such clear language.

    One paragraph stood out for me relating to the people being sovereign in Scotland…

    “Ironically, we do need politicians, but I have also come to the simple conclusion that politicians are really not the type of people you need when national economic solutions are urgently required. If they were working in any other profession; engineering, medicine, aviation or education; they would be subjected to an inquest of professional accountability and fallacious behaviour, then struck off the register, forever. However, for some unknown reason this doesn’t happen in Politics. Change is needed. There obviously needs to be a tighter rein on ‘Politicians’ by the ‘People’, but that is another social problem that needs to be addressed and deserving of its own platform.”

    But will the people read and digest or opt for a selfie with Sturgeon?

    Liked by 19 people

  2. For me the analogy of not having one’s own currency is like that of someone handing over their wages to someone else who then decides what and how much you might get back.

    And for the feeble minded or those of a colonised Unionist mentality it might be helpful to recognise that there are plenty of similar sized countries to Scotland doing just fine with their own currency.

    Norway, Switzerland who are on our doorstep in Europe. Or New Zealand at the other side of the planet. Or what of UAE and Qatar.

    Kind of exposes the myth that Scotland is too poor, too dependent.

    Liked by 14 people

  3. Great reading. Robin McAlpine also made a positive post yesterday and it ties in with this. Well one thing’s for sure the Scottish government are not short of folk giving them assistance even if it has to be via blogs. 😁

    Liked by 13 people

  4. Frantz Fanon wrote that ‘independence is a fight for a national culture’. Albert Memmi argued that independence is ‘a cultural emotion’. These are critical aspects, albeit only briefly touched on here. The most urgent priority is that of freeing the people and protecting a national culture which is always perishing under colonialism.

    On the matter of currency and other policy aspects, if the SNP were serious about independence they would already have established ‘Shadow Ministries’ covering all so-called ‘reserved powers’ and more. This includes national treasury and currency/central bank, in addition to defence, immigration/borders, trade/industry, energy, culture/language (media, education etc), etc etc. Structures could and should have been prepared by now, also giving Scottish politicians something useful to do, rather than feather their nests and manage the colonial administration on behalf of our Imperial rulers. And, crucially, they should have appointed Scots with knowledge and expertise to these structures, ready to lead our nation’s ‘new’ institutions from Day 1 of liberation. This is what the ‘short money’ and other resources could have been used for, instead of playing internal party priorities and holding the ‘radicals’ at bay, delaying and blocking independence.

    The SNP has prepared nothing, has created no shadow ministries and structures in readiness (on currency or a’thing else), and therefore has no intention of preparing for independence, which can only mean oor elected politicians have no intention in delivering independence. Though a sickening realisation, this we find is not unusual in postcolonial theory which always throws up nationalist party ‘elite’ as collaborators who seek only ‘a friendly agreement’ with the oppressor power, an nae mair. The most important thing is the people realise what has occurred, much as the booing of the FM in Dunfermline yesterday might suggest.

    Liked by 26 people

    1. I just scanned the papers and apparently there’s going to be a highlight outside of Sturgies failures at their conference. What do we do? I was just watching Tim Rideout’s currency presentation from two years ago even clips of him at the conference so it’s not as if they can claim that there wasn’t good people who put forward great ideas for the benefit of our country and people.

      Liked by 14 people

      1. I think that people are getting confused when they think that people are attacking NS as being personal and it’s not, her personal life is her own but she has stepped into a public role and an important one for the people of Scotland and if she has failed to deliver what she promised, denied people who are experts in fields that are going to help this country and therefore all people then she and those who say that we should not challenge or try find ways to let her know that we are unhappy have no business being in the position of making these decisions or not especially without our permission. Nicola and those politicians were elected by people of this country because we believed in her and them and SNP members and her supporters should be mindful that they are not elite and don’t get to tell us that we should not be openly critical of anyone who is or seems to be abusing their positions.

        Liked by 18 people

  5. Very interesting and one which I would support. It’s just a pity AS didn’t follow this approach in 2014.

    Liked by 4 people

    1. I think As did not suspect the insanity of denying a currency union – Scotland switching to a new currency will blow a huge hole in sterling – more self inflicted harm from UKIP.

      Liked by 4 people

      1. I’m fully on board for a Scottish currency on Independence Day.

        It would be legally possible to introduce a rudimentary Scottish currency under the Devolution Settlement which might be a way of introducing the full currency on independence.

        The way it could be done is for the SG to introduce a meaningful UCI of say £200 per week. This would put £55b into the economy every year. If those funds were to take the form of vouchers and retailers accepted them then it might take off. I’m not advocating it but think it’s worth discussing

        Liked by 1 person

  6. Events of this past week alone surely demonstrate why Scotland should never be subject to the whim of semi-crazed westminster politicians in charge of the UK economy. Even in a situation where the lunatics have not taken over the asylum, sensible economic governance at the UK level will inevitably favour the interests of England, as that represents the largest part of the electorate is therefore the power base of all of the unionist parties.

    Liked by 16 people

  7. If there is no Scottish currency then there can be no independent central bank or monetary policy, with the setting of interest rates and control of money supply performed by a third party foreign government and its financial institutions.

    It’s that simple.

    Liked by 20 people

  8. I think it is clear we need our own currency. We all know who would benefit from trading in the pound especially in oil our tethered together friends want to keep us chained to the city of London and benifit their economy. To address the lack of investment the deprivations in Scottish city’s and to invest in Ports Industry we need all the financial leavers. Scotland will control of it’s own resources would thrive. Colonial rule has been our bane for we need a clean sweep of the broom. Those who think our better together friends are going to help us in anyway are fools. They will steal the silver on the way out the door if we are not watchful. Quislings and plants for Britain interests are already in place at the highest level. People are now awaking to the scale our Betrayal, we already have a financial hub in Edinburgh banks etc we dont need London to milk us.
    Dissolve the Union.

    Liked by 14 people

    1. Well aye, it’s really a no brainer. I mean we were not always in a union and we had our own currency before and there’s plenty of evidence of it. Folk are still out with their metal detectors today finding it. It’s like naebody can think that sometimes looking at the past helps with the future or should dae. They get caught up with the doubts that have been placed deliberately so that we don’t look to those have the solutions.

      Liked by 10 people

  9. So where are the flaws? One aspect is that quite evidently the Tories will throw everything they have to bring down Scotland, including ensuring the spivs in City of London will be hired/encouraged to bring about the downfall of any Scottish currency, including, and crucially, using their contacts in the FOREX to down value the Scottish currency to ‘junk’ status. In fact, they are probably working on this at the moment. Also, I consider that there will be a time gap when the SC will be especially vulnerable and that is in the days following Indy when there is little or no income and plenty of outgoings. UK Co.’s will be “encouraged” by the Tories/Labour not to pay due taxes to Scottish Exchequer for an extended period of time and certainly no income can be expected from such things as VAT as Scotland based Co’s trading in rUK will simply be informed that their continued trading access to rUK will not occur unless they do not pay on time their due taxes to any Scotland based equivalent to Inland Revenue/HMRC. I would expect that this would be backed up by legislation such as now being put into practice on EU Imports. So, what are the answers to my two questions above?

    Liked by 5 people

    1. That’s my big concern too.

      I remember the drama when the £ entered the Exchange Rate Mechanism… and a Scottish Currency will be a lot more vulnerable than Sterling. I’m not an expert in such things, but our Scottish Currency should start out tied to something else just for ballast in potentially stormy seas. The Euro looks the obvious candidate.

      I know it “might” have meant a commitment to the Euro, (a commitment which is never delivered in some cases), but what an opportunity we had in Brexit, when Europe, though Juncker and Verhofstadt were offering Scotland holding pen status until we got our act together, yet Sturgeon did nothing. She couldn’t even negotiate a Constitutional Backstop with the Irish showing her how to do it. The Irish had the Good Friday Agreement, but Scotland had the Claim of Right.

      I still cannot believe the breathtaking rank incompetence of Sturgeon over Brexit. She should have been impeached in 2016. That she still has a job makes my blood boil.

      Liked by 9 people

      1. I support a basket of three countries at the outset, the dollar because our oil and gas wealth, the euro because of our export strength and the pound sterling because it will still be an important market.

        Liked by 3 people

      2. A 3-currency system or even a 4-currency system would require legal changes – such as time limits on holding ant one currency in a certain denomination. To my mind, such methodologies present certain positives. 1] Those holding £Sterling accounts will not be required to change. The prospect of being required to change frightens pensioners and holders of mortgages, with both being paid in £Sterling. 2] Trading in both Euros and US$ will satisfy commercial orgs, most of whom trade in one or the other depending upon the goods and services being offered by them. Many imported/exported goods, not just oil, are priced in US$. Try buying anything from China and you will be quoted in US$ and not the internal currency of China, the Yuan. Apart from that, a 3-currency system helps prevent the spivs and speculators in the City from betting against the £Scots or even the £Sterling, which they have recently succeeded at doing whilst pocketing a fortune both personally and commercially. 3] A 4-cuurency system with the addition £Scots to the above whilst being tied to the £Sterling would resolve Scottish fundamentalist issues by providing an alternative for their use, should they wish to do so. [My Comments]. I have no doubt that in time, the use of £Sterling will fall out of use as pensions and mortgages fall out of the system at end of use payments. Initially, a 3-currency or 4-currency system will be bit complex but draws the teeth of those arguing for or against any particular proposed arrangement. any of which have their proponents and denigrates according to their particular situation. As for payments to employees, they can make their own choice with a preference of £Scots unless otherwise requested. However, there should be no offshoring of accounts. Just that the Banks in Scotland will be holding accounts in a variety of denominations until everybody has confidence in any particular currency. Both of those situations will require legal changes but those are not insurmountable.

        Liked by 1 person

  10. Very well explained Mr Tye, so it must be our own currency to hit the ground running, otherwise we stifle our own economy. Now all we need is the right FM in place, I think that will be harder than floating our own currency.

    Liked by 15 people

    1. Is it though? If there was intention to sabotage the people of Scotland and on a daily basis there are those who are looking at the evidence in order to prove this is the case or not then this is helpful. Obviously we don’t have the media but there’s all of us. For example the piece Craig Murray wrote in regards to the Lord Advocate and Kenny, Alex and others pointing this out. The energy theft once again evidence being reported and kept as well as being shared, now today we have the currency. So basically it’s a gathering of evidence as well as sharing and if and when the case is presented for judgement even lack of media and people having to get on blogs etc is evidence that they too have played a role in this.

      Liked by 2 people

  11. Often wondered why there’s no specific qualification required for entrance to political life. Any donkey can stand and be elected. No essential knowledge required. Even a failed solicitor can reach the top!

    Liked by 14 people

    1. Let’s look at Humza Yousef and how he is currently being panned and under fire for the NHS. Now this is where you think, is he qualified for the position of being in charge of health or was he just rotated for the sake of changing position? Then you think about the people who are researching for him, looking for solutions or is anyone even daeing that? I am a firm believer in therapies that are cheaper and holistic, herbal and complementary could be made available in our NHS and this would help with the pressure of non serious illness and freeing up the doctors and surgeons with the more urgent needs of people.

      Liked by 5 people

      1. The proven, historical and entirely disproportionate proclivity of senior SNP politicians towards pederasty isn’t a bug it’s a feature.
        We can only speculate whether Patrick Grady was the subject of a “coat trailing” operation (John le Carré) whilst on his (undeclared in the HoC register of interests) trip to Washington.

        Liked by 3 people

    2. In principle, there should be no requisite qualifications to enter into remunerated politics. For some unspecified body to impose entry qualifications would be the start of an extremely precipitous slope. Our MPs and MSPs are our representatives and as such should be as representative of us as possible.
      The issue is not who gains entry to remunerated politics but rather who progresses within the environment. The SNP backbenches at Westminster and Holyrood are occupied by a rich variety of folk encompassing life experience, professional qualifications and business acumen. The frontbenches, now that’s another matter. There’s a distinct uniformity to that lot.
      Graduates of courses with Politics incorporated in the title (Stirling University isn’t compulsory but it helps), magically anointed in their 20’s or early 30’s for “great things”, touched by the guiding hand of the US State Department, disproportionately homosexual.
      This incestuous clique are tight, disciplined and self perpetuating. Promoted into technical briefs they entirely lack the qualifications and experience to competently execute, they at least on a subconscious level grasp their own incompetence. This precarious existence is reinforced by constant rotation from one Ministerial brief to another. The cumulative effect is to generate a fanatical loyalty to the Boss (to whom they owe everything). No policy or instruction is too wrongheaded or extreme.
      From Secondary school, these middle class parasites were never going to prosper in the real world, with its cut-and-thrust result orientated hierarchy and contempt for the politically correct fripperies of gender pronouns. Essentially lacking political convictions, these carpetbaggers are the ultimate, principle free marionettes to be manipulated by dark, anti-democratic, unseen forces.
      In their bizarre, counterintuitive world, their incompetence is their value.

      Liked by 9 people

      1. Who has been reading the dictionary, then? An article of Dickensian prose for marking by the English Teacher?

        Like

  12. I agree entirely with the essence of your argument and deplore the lack of progress, or even interest in progress, coming from the SNP. This is the first time I have heard the term ‘betrayal’ levelled against the SNP but the evidence makes it difficult to refute it. It is very clear to most observers that that the lack of clarity on the currency issue contributed directly to our failure in 2014. Right now the unionist media is keeping its gunpowder dry as they quietly prepare to revisit the same emotional arguments that succeeded on that occasion. Every so often Nicola Sturgeon repeats the mantra that the only way forward for Scotland is through independence, but the action does not seem to fit the rhetoric. Using the term ‘betrayal’ to describe this is a grave indictment, but having witnessed the importance of the currency issue to the otherwise supportive voters, the omission is serious. Could it be that the party in which our independence ambitions have been embedded for years has in fact been captured? Maybe she too is ‘keeping her gunpowder dry’ and simply determined to get her timing right, but certainly time is running out and many of her most loyal supporters are getting fidgety.

    Liked by 9 people

  13. I wholeheartedly agree on the need for a Scots£ from day one of independence. One slight quibble and I’m happy to be corrected if I’m wrong.
    “ The Bank of England would certainly not support our economy in the event of any economic crises … “.
    From memory, the Bank of England did intervene to support the Republic of Ireland during the 2008 crisis. Something to do with the interconnectivity of the UK and RoI economies and the long standing free travel area. This was of course a Political decision. It would not have been taken under Johnson or Truss.

    Liked by 12 people

  14. Excellent article, so well laid out and clear. I was never a fan of keeping sterling as our currency. Then there was the squirrel thrown about as to what we could possibly call our own currency. Who the hell cares what it’s called, ca’ it bawbees or whatever you fancy. The main thing would be it was ours from day one and not attached to Westminster and all of it’s foibles.

    Great article, I only hope more people get to hear about it and read it. We need people like this to run our economy, not the inept and in some cases corrupt ragbag of politicians that we have now. They shouldn’t be allowed anywhere near this.

    Good comment from Alf Baird as usual. How come with the people that we have, well educated and knowledgeable as they are, that we find ourselves stuck with the dunces and fearties that currently occupy Holyrood.

    Liked by 17 people

    1. Tim pulled out a sample on The Tweet Street Scotland livestream. I couldn’t get a good look as the camera didn’t zoom in but nevertheless he did have it. This is a good show and tell for the folk who needs to see the physical evidence before they can feel reassured.

      Liked by 3 people

    2. Carol, it happens when insecure and inadequate people recruit people to work for them. Because they are insecure and inadequate, they tend to recruit people who do not pose a threat to them, ie people who are even more inadequate and insecure. It only takes a few rounds of recruitment to ensure utter and complete organisational incompetence within a previously functioning organisation.

      Liked by 4 people

  15. some info on how the irish Pound/punt/Euro developed over the years since Independence in 1922, which I hope people will find interesting

    “A theme running through the history of the Irish pound is a
    search for stability — stability in financial conditions and stability
    in prices.
    Comment: I think that will be Independent Scotland’s priority too

    “In the first instance, this stability was provided by a
    fixed one-for-one link to sterling, with the credibility of the new
    currency being ensured by a full backing with sterling assets in
    a currency board. The sterling link also provided a stable
    environment for trade, which was almost exclusively with the UK
    in the early years”

    Comment: Historical circumstances that dictated Irish policy no longer apply – there is no longer an Empire, Scotland will not be locked into trade with England etc

    “it was widely accepted that a careful preliminary review was essential
    before legislation on a new currency could be framed. This
    review was initiated with the appointment of a Banking
    Commission in 1926, under the chairmanship of Prof. Henry
    Parker-Willis of Columbia University, who had previously been
    Director of Research at the US Federal Reserve Board. The
    Commission’s terms of reference were ‘‘to consider and to report
    to the Minister for Finance what changes, if any, in the law
    relative to banking and note issue are necessary or desirable,
    regard being had to the altered circumstances arising from the
    establishment of Saorsta´t E´ireann’’.

    Comment: Since Scottish Independence is not set on the Irish path of an Uprising followed by a War of Independence with the English, this is what Scotland should already be doing in preparation for Independence
    As Prof Baird pointed out above “The SNP has prepared nothing, has created no shadow ministries and structures in readiness (on currency or a’thing else),”

    Click to access the-irish-pound-from-origins-to-emu.pdf

    Liked by 6 people

  16. Iain

    I find much to disagree with in this article but I do believe that having our own currency would be the optimum position for an independent Scotland. I just wonder how we get there. The author is again trying to divide YES supporters into traitors and patriots and I wonder how helpful that is. Neil is clearly very bright and feels that he knows better than the politicians of all stripes.

    Consider these points:

    1. I quote Neil:

    “Incidentally, a previous UK government ‘White Paper’ made the biased statement by suggesting that by keeping the UK£ Sterling, ‘would set out a strong position and that retaining it would provide a overarching framework for Scotland post independence and that a shared currency would be in the interests of the UK given the trade and financial links with Scotland’. Unfortunately, such statements do not reflect the reality of the arrangement based on the current evidence that the ‘Union’ has been, in any way, beneficial to the Scottish economy. In fact, the evidence and reality shows us quite the opposite position. ”

    I don’t know where this quote comes from but it could very easily have come straight out of the Scottish Govt’s 2014 White Paper. It is funny that AS rejected a Scottish currency in 2014.

    2. Neil makes much of the fact (quite rightly) that Scotland can never be really independent without our own currency. I am glad that he would agree with me that Italy, Spain and Belgium are not really independent as their monetary policy is wholly determined by the faceless unaccountable gnomes of the ECB. How interesting that he is so keen to join the EU.

    3. Neil goes for an immediate free-floating Scottish pound and you have to credit him for taking the bull by the horns. What he doesn’t address is whether existing Scottish debt can continue to be denominated in £sterling and to what extent he would expose the Scottish economy to the mandatory use of the Scottish£. He says that taxes must be paid in Scottish£s but how about wages? He claims that Scotland must start without any debt in foreign currency but this is wholly unrealistic. Scotland will start with a huge debt to pay the UK for pre-existing UK debt. And we will need lots of £sterling to pay for our huge imports from England and for our mortgages (unless they are unilaterally converted in Scottish£s on Independence Day). A free floating currency on Day 1 of Independence will be a gigantic gamble which would make Kwasi Kwarteng look like a Sunday School Teacher. Not even Robin McAlpine is in favour of that. We have to sell that massive risk to the Scottish people in Indyref 2.

    4. Neil again makes the common argument that lots of other small countries have their own currency and are successful. There is just one huge problem. No other advanced western economy. with high rates of public and private debt and high welfare levels has ever broken up. That consideration is the only reason Italy and Greece are still the Euro and why Marine Le Pen dropped her plan to exit the EU.

    5. I quote Neil again:

    “A Scottish Government with its own sovereign currency (Scot£) can legitimately claim that any of the normal social necessities of a nation (Education, Health service, Energy, Transport, Welfare, Employment, Food, Housing) ‘are affordable’. These are all possible, but with one important condition and that is it must have sufficient REAL & NATURAL RESOURCES assets that can be mobilised to pursue these goals. Scotland is awash with these important resource assets.”

    I assume that Neil believes in Modern Monetary Theory which claims that a sovereign government with its own can effectively print all the money it wants without consequence. This quote makes a pretty big claim which the Scottish people would need to be convinced of. Neil believes that Scotland has the “REAL & NATURAL RESOURCES assets that can be mobilised” to support this level of expenditure but you have to ask what these resources are? Yes, I agree that oil and gas qualify at current prices but we are dedicated to wrecking the oil industry through net zero? What does Neil think of that?

    What other natural resources is he thinking of?

    Not a convincing article at all I am afraid.

    William

    Like

    1. To pick up on just one of your points:

      “Scotland will start with a huge debt to pay the UK for pre-existing UK debt.”

      This is simply not true. I always quote the inimitable Stuart Campbell on the issue of UK debt because he explains it succinctly and perfectly:

      “No, there will be no inherited debt because that’s not how debt works. You can’t just palm it off to someone else against their will. It remains the responsibility of whoever took it out, in this case the UK government.

      “If the UK government wants to OFFER something in NEGOTIATION in return for Scotland taking on some of its debt, that’s another matter. But as a simple fact of law, Scotland owns absolutely none of that debt. Not one penny. You can whine about that as much as you like but it won’t stop being true.”

      Liked by 8 people

      1. I am afraid that Saffron Robe and Stuart Campbell are just being a little silly. The fact that RUK being the continuing UK state will take on direct legal responsibility to markets for pre-existing UK debt is a complete irrelevance. There are only two ways for Scotland to exit the Union. One is with the agreement of the UK and the second is by a species of UDI. UDI is not happening. Therefore an agreement is happening. . No agreement is happening without Scotland making a huge contribution to the UK for UK debt and that will be denominated in £sterling.

        Like

      2. The Alba Party had an economist Jim who had worked in Hong Kong write up a piece just as Alba formed that proposed a clean bill as we had already been robbed of our resources. Nae debt.

        Liked by 5 people

      3. Legal responsibility is by no means a complete irrelevance; it is a legally binding obligation. Scotland has no such obligation with regards to UK debt. As Fae correctly points out UK debt has been rung up by Westminster even with Scotland’s vast natural resources at their disposal. It would be an act of criminal folly to reward Westminster for their fiscal incompetence and theft of our resources and revenue by accepting any of their debt. As Iain says, we are actually due quite considerable reparations.

        Liked by 6 people

  17. What happened to this lady? Based upon what she said in this video I thought to myself well this is the kind of woman who I would have gotten behind as our First Minster.

    Liked by 3 people

  18. First class article by Neil. I have always considered having our own currency as self-evident. Currency is like the Crown. If we retain either then we are not truly independent. As James Connolly said:

    “…unless you set about the organisation of the Socialist Republic your efforts will be in vain. England will still rule you. She would rule you through her capitalists, through her landlords, through her financiers, through the whole array of commercial and individualist institutions she has planted in this country…”

    And as Thomas Jefferson rather prophetically noted:

    “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

    Henry Ford said:

    “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”

    Liked by 8 people

  19. This is to take nothing from Mr Tye or his carefully considered and most useful contribution. What self-regarding nationalist wouldn’t demand the right to have their own national currency? This desire might be regarded, in our highly monetized world, as an integral feature of what Albert Memmi meant when he spoke of: “cultural emotion”. (See: Alf Baird, above) Economics was never purely a matter of numbers, projections and so forth, as anyone who cares to revisit Adam Smith will note. Those unable to display an emotional engagement with the idea of a Scottish national currency, they are our traitors! An opportunist gang that must never be allowed to triumph or prosper in a liberated Scotland by dint of ju-ju number-crunching or self-serving abstraction.

    Liked by 7 people

  20. «Procrastination is the thief of time», «can’t see the wood for the trees», «fiddling while Rome burns», and similar cliché references to missing the opportunity sums up the state of Scotland’s national aspirations.
    If ever a country needed leadership eager to take the wrecking ball to Britannia’s creaking edifice it is Scotland. There has been much lawyerish caution, an overdose of safety first and a surfeit of wait and see.
    The new «muscular unionist» on the Westminster stage has stuck her heals in regarding any move to independence whether by referendum or maybe even democratic election. The shade of what the Brits did in Ireland informs such posturing.
    This is a stew that begs to be well stirred by those ready to add imaginative «kick» to the mix.
    A Scottish currency is mere pipe dreaming as long as «leadership» fails to inspire, lead, just get on with the task.

    Liked by 5 people

    1. “There has been much lawyerish caution, an overdose of safety first and a surfeit of wait and see.”

      This has gone beyond caution or fear of failure. There’s more than just a touch of self interest in terms of the money, the power and the opportunity to move to the world stage.

      Liked by 3 people

      1. There is also the idea abroad that devolution should be made to work as a measure of competence to govern. Paradoxically it might work so well that independence becomes unnecessary. I believe that is the current thinking of many in the Scottish government.
        Talk of independence is little more than posturing. The leadership is content with the comfortable niche it has made for itself within the British state structure.
        Full, sovereign political independence is now altogether too «subversive» a concept.
        The SNP has calculated its LCD and is content with the result.

        Liked by 4 people

      2. Devolution will never work well. It can only work in as far as WM allows it and WM only allows it as long as they get all they want. If SNP were to show any real interest in independence, a long shot, I know, WM would crack down hard.

        Like

  21. Yes, true independence requires the removal and replacement of “the whole array of commercial and individualist institutions she has planted in this country”, and the people who control them. I don’t see the SNP elites doing that, they remain more than content to leave Scotland’s entire unionist cultural hegemony in place, which is exactly what they have done since coming to power in 2007.

    https://yoursforscotlandcom.wordpress.com/2021/08/01/the-determinants-of-independence-institutions/

    Liked by 9 people

  22. I agree that we need a central bank and separate currency from day 1. I suspect the keep the pound narrative in 2014 was based partly on different economic circumstances and don’t frighten the horses. However, the Tory governments since then make Cameron’s’ administration look like political giants rather than the pygmies they were and that selling a Scot £ would be politically much easier today. Kwasi’s appalling mini budget (sic) and the well-publicised effects on the market make it a much easier sell.

    I’d appreciate some more info on one aspect mentioned atl. I’d thought it might be a good idea to peg to a basket of currencies (not inc. the UK £) but Neil favours free floating. What would be the advantages of free floating versus a basket peg?

    We should not take any UK debt at all and certainly not denominated in UK £. Prof Richard Murphy has written about this several times eg.

    https://www.taxresearch.org.uk/Blog/2021/05/05/how-much-debt-would-scotland-owe-the-rest-of-the-uk-if-it-were-to-be-independent/

    He is very clear that we need a Scot £ (or whatever you want to call it!).

    Note since very little of the debt is being paying paid off anyway why the hell should Scotland be paying any of it off for them!

    Also, I’m sorry to hear about Ian Hamilton’s death. Another stalwart gone without seeing Scotland free.

    Liked by 10 people

    1. I am sure that it would have been of immense consolation to both Kwasi Kwarteng and the markets last week for Panda Paws to have informed everyone, backed by the immense intellectual authority of wacky Prof Murphy, that no-one should worry about the Pandemic debt, the Energy Cap debt, any debt, because such debt will never be paid back anyway! Now isn’t that nice!

      Like

      1. And I’m sure everyone can understand just what type of person you are from this comment even if they hadn’t worked it out long beforehand. If you’ve nothing constructive to say, please do it far away from me.

        Liked by 6 people

    2. The question of UK debt was settled in 2014 when the Markets got jittery Osborne issued a clear statement that rUK was the successor state and was fully liable for the Debt. He also used successor state to claim rUK would be in the EU and Scotland at the back of the queue. They can’t have it bot ways.
      You are also correct that since WW11 the UK has repaid only a tiny fraction of the Debt. – Paying interest does not reduce the capital.
      Ignore William Ross he is on here to be disruptive I just skip past his havering.

      Liked by 6 people

      1. I am afraid that Clootie, like Panda Paws, is being a bit silly. No-one has any doubt that RUK, as the successor state, has the legal obligation to pay creditors the UK National Debt. The point is whether Scotalnd will be able to avoid contributing monies to RUK for its share of pre-existing UK national debt after Independence. The answer is clearly “No”. In fact pages 72 and 73 of “Scotland’s Future”, the Independence White paper, are devoted to discussing how much of the Uk National Debt we would pay.
        Maybe Clootie and Prof Murphy know something that AS and NS did not?

        Had there been a YES vote in 2014 , Scotland as the seceding state would certainly have been out of the EU. I would have wept no tears for that.

        Like

      2. Pardon me, but I have doubt William Ross. My hand is raised.

        I’m aware the UK government routinely describes Scotland as the seceding State, and England as the Continuer UK State, but just because they say a thing, doesn’t mean it’s true.

        Scotland’s departure doesn’t mean Scotland leaves the Union. Scotland’s departure ends the Union. The United Kingdom was not, is not, Scotland’s mother country, so we are not seceding for a start. Our “self” is not being created from flesh freshly cleaved from the UK whole. (Try saying that in a hurry).

        There will not be a UK when Scotland ends the Treaty. Even if Westminster clings on to the title and calls itself the UK, it won’t actually be “the” UK. (In fact, Scotland might part own the title, so they’d have to buy the rights from us even to use the “UK” title).

        It doesn’t make me many friends pointing it out, but since we joined as constitutional equals, we shall part and revert to being Constitutional equals, and that, I firmly believe means Scotland inheriting a per capita share of UK debt.

        I know, Scotland didn’t sign up to the debt, except we did. Scotland’s MP’s sat on their arses, supping from the UK cup, all the while the UK debt accrued. We might slip some liability in the small print, but truly, we should have rebelled and walked out at the time, but we went along with the plan.

        Think about it. If Scotland cannot be held liable for UK debt, then quid pro quo.. how and why should England?

        I fear a share of UK debt is a bitter pill we need to swallow, but sugar coated to a degree by two things; Scotland inherits a per capita share of UK assets, (not English assets, just shared UK assets), and point two, the fact that shouldering significant Scottish debt might actually assist a Scottish currency, which as McCrone predicted, might otherwise become a very hard currency, meaning Scottish Exports become prohibitively expensive abroad, severely damaging our Whisky and food exports. Debt might be a very useful shock absorber.

        How these figures break down is beyond my knowledge, and I cannot even speculate whether the final sum is a plus or a minus, but it will be what it will be. (FFS please do not let Sturgeon “negotiate” the terms or we’ll end up paying the lot).

        A fly in the ointment. If the UK splits and there’s a bun fight over UK assets, that bun fight might not be restricted to Scotland and England. The former colonies of the British Empire might readily, and appropriately, seek reparations. It could get very complicated. To coin the expression, when things come out in the wash, “this” will be the wash where they come out.

        I see pros and cons for Scotland abandoning Constitutional principle and simply seceding, simply walking out and leaving England to deal with the consequences as continuer UK, but I do not believe that’s the way this all goes down.

        The law exists to clarify ambiguity, and by law, Scotland and England are constitutional equals. We won’t even get the choice to “secede”, because the legal distinction will forbid it. Tell me I’m wrong.

        Liked by 3 people

      3. Breeks, agree with much of that, and that a balance sheet includes rather more than debt. The capital assets of one of the JV partners has been disproportionately and mercilessly ripped off, and that is ongoing. Debt is historic, as is the capital assets/resources of one partner plundered mercilessly. Scotland’s capital assets/resources are what has largely kept the UK ‘joint venture’ afloat for the past half century and more and without this the UK debt pile would have been far higher. This should not be a difficult calculation to make, as many former colonies have found. Scotland’s share of any UK debt should therefore take account of its capital asset value inputs to the JV relative to rest-UK.

        Liked by 3 people

  23. RIP Ian Hamilton – a lifelong supporter of Independence

    ee Magic Stane

    (Trad / Johnny McAvoy)

    The Dean o’ Westminster was a powerful man
    He held a’ the strings o’ the State in his hand
    But wi’ a’ his great business it flustered him nane
    When some rogues ran away wi’ his wee magic stane
    Wi’ a too-ra-li-oo-ra-li-oo-ra-li-ay

    The Stane had great powers that could dae sic a thing
    That withoot it it seemed we’d be wantin’ a king
    So he sent for the polis and made this decree
    Go hunt oot the Stone and return it tae me
    Wi’ a too-ra-li-oo-ra-li-oo-ra-li-ay

    So the polis went beetlin’ away up tae the North
    They hunted the Clyde and they hunted the Forth
    But the wild folk up yonder just kidded them a’
    For they didnae believe it was magic at a’
    Wi’ a too-ra-li-oo-ra-li-oo-ra-li-ay

    Noo the Provost o’ Glesca, Sir Victor by name
    Wis awfy put oot when he heard o’ the Stane
    So he offered the statues that stan’ in George Square
    That the High Church’s masons might mak’ a few mair
    Wi’ a too-ra-li-oo-ra-li-oo-ra-li-ay

    When the Dean o’ Westminster wi’ this was acquaint
    He sent for Sir Victor and made him a saint
    But it’s no good you sending your statues down heah
    Said the Dean, But it gives me a jolly good ideah
    Wi’ a too-ra-li-oo-ra-li-oo-ra-li-ay

    So they quarried a stane o’ the very same stuff
    And they dressed it all up till it looked like enough
    Then he sent for the press and announced that the Stane
    Had been found and returned tae Westminster again
    Wi’ a too-ra-li-oo-ra-li-oo-ra-li-ay

    But the cream o’ the joke still remains tae be telt
    For the bloke that wis turnin’ them aff on the belt
    At the peak o’ production was so sorely pressed
    That the real yin got bunged in alang wi’ the rest
    Wi’ a too-ra-li-oo-ra-li-oo-ra-li-ay

    So if ever ye cam’ on a stane wi’ a ring
    Just sit yersel’ doon and proclaim yersel’ king
    There’s nane will be able tae challenge yer claim
    That ye’ve crooned yersel’ King on the Destiny Stane
    Wi’ a too-ra-li-oo-ra-li-oo-ra-li-ay

    (as sung by Robin Hall & Jimmy Macgregor)

    Liked by 6 people

    1. 😘 Well what happens if a woman sits oan it will she suddenly change gender like the new self GID King of Scots? 😁 You know that we have a history of having magic stanes. Bless Ian at least he is oan the good side of Scottish history.

      Liked by 2 people

  24. @ Ian exactly. Let’s get back for the folk what was taken from them. I am not joining a party and have opted for the Liberation Scot but I have to say that I quite liked Alba’s manifesto when they first started up. When you see all the different things written in the media and one or two folk come along write something and it just destroys all other arguments. What Jim wrote could hardly be argued with. I am glad that I found this blog because it’s like a wee talent pool of the people who have all these great ideas and proposals but got ignored.

    Liked by 3 people

  25. Mia thanks for your posts. I absolutely love the information that you have shared with us in all the blogs, it’s a pity that we don’t have people like yourself in our government or in FM position with some of the other people on here, in the other groups like Salvo, SSRG and in Alba to end this union.

    Liked by 2 people

  26. I fully aree we need a new currency, even just as a statement of our independence. I am interested how the authot thinks our exchange rate with Sterling should be managed (if at all).
    One things for certain, in the absence of exchange controls, the value of £Scot against the £ will get stronger or weaker.
    A strong £Scot would make our exports to rUK expensive and less competitive.
    A weak £Scot would make imports from rUK (our major trading partner) more expensive for us.

    Like

    1. Unlike that stable strong Pound we have at the moment?
      Like the Pound I don’t want the myth of the “UK market” to continue.

      Europe is our future market and directly by ferry and Container ship from Scottish Ports and Airport hubs.
      Independence is far, far better than being given some of your own wealth as pocket money while your culture and language is destroyed.

      Liked by 3 people

  27. Good article from Neil.
    We certainly seem to be getting towards the end game of the ‘sound finance’ economic myth adopted by the tories and new labour. History has shown that when the people are over-indebted (not the govt) the economy grinds to a halt. This is part of the reason for having debt jubilees in the past.

    This coming conference would be the optimum time for a u-turn on currency, yet I expect the SNP has no intention to change direction on that front. I’m of the opinion that the growth commission report was a fob-off. The minimum amount of work required to keep the troops happy. It is also difficult to defend given that we are supposed to be ‘persuading people on doorsteps’. It is a gift to the unionists and imperialists.

    I’d expect over the coming months that we’ll hear more about how labour will free us from the madness. Their spin doctors are busy bees at the moment, whilst the SNP are posted missing. Murray Foote (or Furry mute as I call him) must have the best hourly pay anywhere. One of the labour spinners was recently commenting about how Gordon brown saved the economy in 2008. It’s a bit like driving a car at 100mph and ramming a car which was double parked. The judge let’s you off because you called the emergency services and saved the day.

    So Gordon was innocent. Thing is, labour’s John McDonnell saw it differently.. – “Blair and Brown made a Faustian pact to give the city it’s head. The idea was just to let them do their profiteering and just take the tax benefit. It was not a relationship on our terms. It was a case of, just ‘give them what they want’. I don’t think Brown understood what he was doing”

    Liked by 3 people

  28. This is the terrible reality of minority peoples, even when «independent».
    https://www.panarmenian.net/eng/details/292052/
    The EU has just concluded a gas deal with, Turkey backed, Azerbaijan.
    https://www.panarmenian.net/eng/news/302922/
    This is the world of which Scotland is a part. High minded notions that «out there» there are those who care is fatuous. Those who seek a new dispensation for their country may be compelled to act unilaterally and be prepared to drag the rest kicking and screaming behind them. Survival in such a context is pure darwinism. Democracy, sustained by myth and legalistic convention is a «lie» and existentially far worse than any autocracy in its psychological impact.
    All eyes are on Ukrain. Armenia now stands alone.
    https://foreignpolicy.com/2022/09/22/russia-armenia-azerbaijan-war-nagorno-karabakh/
    Hitler is reported to have uttered rhetorically «who remembers Armenia?»
    Who indeed!.
    Who care about Scotland if the Scots themselves do not.

    Liked by 1 person

  29. Excellent. A man born in England provides the SNP with a clear example of what Scottish patriotism means. You do the right thing by your country and its people. The article goes on to explain exactly what we should imply when mystifying decisions are reached instead

    Liked by 1 person

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