Had to share this guys! for all u oil doubters……Quite long but worth the read! No Voter comment! Alex Salmond says that the Bank of England was set up by the United Kingdom as a whole and for the UK as a whole, including the part that he would like to become independent. He therefore deduces that in the event of a Yes vote, the Bank of England should continue to be a shared resource. He also says that the exploitation of North Sea oil, which was set up by the UK as a whole and for the UK as a whole, including the part that he would like to become independent. He deduces that in the event of a Yes vote, North Sea oil should be wholly a Scottish resource. Can anyone spot a flaw in his logic? Answer.. Very flawed logic peter! Firstly and lets be clear on this for the avoidance of doubt...the BOE is an international banking system that the union as a whole has been contributors of, note indelibly in your mind that the BOE is an INTERNATIONAL banking system which there HQ address happens to be in London and note that we are talking of financial assets in this case, whereby address means nothing other than location as the BOE conducts its business globally, the contributors to this banking system began with the union of countries and has expanded as banks do, no one country runs and owns a bank including England, it is a shared asset of the union. Oil fields! Now then! The major difference in your second example is the fundamental fact that this resourse is on Scottish soil! Or to be more precise in Scottish international waters, it is in fact a product of Scotland as much as scotch whiskey, therefore as it is a product of the land/seabed of Scotland, it is part of the produce of Scotland and belongs to No other. The stark difference that you have failed to grasp, is that oil is a product, it is a tangible thing that makes money through trade, while banks are not a tangible thing including the BOE money making money is not a product of the land! It is solely about investments made through loans with interest on return, whether that be something simple like both yours and my mortgage, which banks profit massively on, or something more complicated like infrastructure investment or corporate buy outs or loans to another country, which is something that the UK is acutely aware of given the debt that it has accrued. No my friend money and banks while they are an asset are not a product! A tangible physical thing that can be traded, you do not trade money on the stock market, that area is for goods that are saleable through trade like lets say...Oil! You see the difference? I trust this clarifies the reason that our Oil will not be shared any longer, despite the fact that Westminster to her own selfish benefit and through there greed monopolised that particular revenue quite enough thank you, as fare as the currency is concerned it is shared amongst the UK along with its assets as contributors entitled through investment. Which is quite different from the Oil extraction that is performed by Oil companies and a seabed write is paid by the companies extracting the Oil along with a tax on every last barrel to the English Westminster government, you see Scotland dies not see any of that revenue as it is paid straight to the UK treasury. That is about to end my friend, you are however entitled to have companies extract your own Oil when you find some and I do wish you well with that.
Posted on: Wed, 03 Sep 2014 12:39:26 +0000
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