THE BIGGEST THREAT TO SCOTLAND. We all know the basic arguments about why we should be independent from oil revenues to keeping Trident in Scotland but the biggest threat to Scotland voting No will not come from these main issues. What Westminster wont admit to the people is the financial time bomb facing Britain that will drag Scotland down with it. This will produce unprecedented hardships for our people and no doubt cause civil unrest. It will make the present austerity measures seem like Disneyland for free for every man woman and child in the country. We can all surmise that the average No voter is reasonably well off with money in the bank and a decent pension and does not want to jeopardise their own bubble of comfort by risking a Yes vote. But what if they knew the truth that Osbourne and Cameron are keeping from them. According to Money Week the respected financial magazine who have predicted accurately the Euro crisis and been one step ahead of the financial game for a very long time, Britain is heading for a financial crisis unheard of in our history. When Blair was in office he left the country with a £125 billion debt, and when Brown and Flipper Darling took over they added another £250 billion of debt because of their failure to regulate the banks and to curb public spending. Since Cameron and Osbourne have taken over they have added £600 billion of debt more than the previous administrations combined. Under their administration public spending in Britain is out of control and is the second highest on Earth. When all debt is taken into account, Government, corporate, and private the figure reaches a staggering 900 times of GDP a totally unsustainable amount that no country in history has ever been able to recover from. During Germanys Wermacht Republic of 1935 their national debt reached 913 times their GDP, causing the central bank to print money. Quantative easing, sound familiar? The Mark became worthless as a result. When governments cannot repay their debts they seize the assets of their citizens like Cypress and Greece have done, countries with nothing like the debt the UK has. It is only the low interest rates that has sustained Britains ability to borrow as it does. With the UK being downgraded to AA by the worlds financial grading agencies the cost of borrowing is now higher pushing up the national debt to a level that could never be paid back. If Scotland does not vote YES in September we risk being sucked into the financial meltdown that is facing the UK. When a government cannot pay its debts, it will seize our savings, cut all expenditure like the welfare state, the NHS, pensions and deliver our people into unprecedented poverty not seen since the 30s. The cuts to welfare are being seen now causing more child poverty in Scotland because we are more vulnerable due to lack of employment opportunities and dependency on welfare. This is due to being part of this Union of unequals where Scotland doesnt really matter apart from being a source of income to London. Westminsters dependency on the financial and housing sector of the South East instead of manufacturing has added to the balance of payments deficit and is why we cannot balance our books as a result. If we Scots vote YES, we can escape the worst of the financial meltdown facing the RUK, because we do not rely on the financial sector or housing market to sustain our economy. We have natural resources and successful industries in our market economy that would be the envy of any small country and will insulate us from the financial woes that will befall Westminster. Without Scotlands fiscal input from oil, gas and whisky, the UKs balance of payments deficit would double overnight and their credit rating will suffer as a result. When their cost of borrowing increases further that will exacerbate the situation and bring the UK to its knees. Remember according to Money Week, who we should not ignore lightly, no country with Britains level of debt in history has ever been able to recover from it without first having total financial collapse. WE SCOTS MUST VOTE YES, or we will share in the UKs fate. A fate we had no part in making. But if we vote No, that wont sweeten the pill when our savings are sequestrated by Westminster and out pensions are cut, and your children or grandchildren go hungry. This is what will be in store for us and what the Westminster lovers dare not tell us. Check the facts for yourself, it makes scary reading. Share and let as many people as possible know of Money Weeks prediction. Alan N McPhail 16.3.14
Posted on: Sun, 16 Mar 2014 11:41:48 +0000
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