If Scotland votes to leave is the pound doomed?

[i claudius]

45 to the quid by December?

I still have to bring over about 3k in the next month ,but thank goodness the bulk of next years money came over a couple of months ago.at 54 plus

[sandmike]

_{Slightly off topic, but I think its humorous ....}

_{Subject: The British Queen & Alex Salmond}

<sub>The Queen is in Glasgow and she bumped into Alex Salmond.

Her Majesty : How nice to see you Mr Salmond.

AS: Nice to see you Ma'am. Now, what are we going to call Scotland when we win Independence? How about calling it a Kingdom, and then I'll be a King?

Her Majesty : No, we don't like that.

AS: Empire, and I'll be Emperor?

Her Majesty : No.

AS: Alright, so how about calling it a Principality, and then I'll be a Prince?

Her Majesty : No Mr Salmond. I suggest we call it a Country and you can carry on as you are.</sub>

[ferguston]

personally couldn't give stuff about Scotland..... but I have large transfer in GBP arriving in late October.... already very concerned about that transfer rate

And I personally couldn't give stuff about England.

[cdnvic]

Talk about the subject please. Don't get personal.

[MJP]

Think I'll nip down the bank in the morning. The kids can have an early Christmas this year . . . and the housekeeping for the next three years. Time for a wire transfer.

[Goshawk]

been watching the £ steadily slide over the past few days myself . . . so today i transferred quite a few K (to Thailand) before it gets any worse . . . again.

[chiang mai]

This article is possibly somewhat alarmist and slightly overdone but it does highlight the very real risks to the downside. That being said, Nomura is a well regarded large bank/brokerage, as the article states it's a case now of Asia waking up to the problem:

http://www.telegraph.co.uk/finance/economics/11082976/Britain-faces-storm-as-giant-global-investors-awaken-to-break-up-dangers.html

Edited September 8, 2014 by chiang mai

[MJP]

45 to the quid by December?

I still have to bring over about 3k in the next month ,but thank goodness the bulk of next years money came over a couple of months ago.at 54 plus

I remember the golden era of 75+ when I got 7.75 million baht for a measly £100k one week.

Could never do the LOS building and land stuff today. Poor as a church mouse.

Edited September 8, 2014 by MJP

[Bernard Flint]

45 to the quid by December?

I still have to bring over about 3k in the next month ,but thank goodness the bulk of next years money came over a couple of months ago.at 54 plus

I have over 2 years gbp, at 55.7, so no problems for me.

[Bernard Flint]

45 to the quid by December?

I still have to bring over about 3k in the next month ,but thank goodness the bulk of next years money came over a couple of months ago.at 54 plus

I remember the golden era of 75+ when I got 7.75 million baht for a measly £100k one week.

Could never do the LOS building and land stuff today. Poor as a church mouse.

Them days didnt last long, no one could see that lasting. If we all could have about 55- 57, i would be happy

[chiang mai]

Given all the financial downside that's involved in separation, there has to be a fair chance that it wont succeed, on the surface it looks like much economic pain for both countries if it does. But if it does succeed, it's going to have a big impact on UK expats here I would guess, things could get painful, especially when combined with the personal allowance, frozen pension and CGT issues, ouch!

[MJP]

45 to the quid by December?

I still have to bring over about 3k in the next month ,but thank goodness the bulk of next years money came over a couple of months ago.at 54 plus

I remember the golden era of 75+ when I got 7.75 million baht for a measly £100k one week.

Could never do the LOS building and land stuff today. Poor as a church mouse.

Them days didnt last long, no one could see that lasting. If we all could have about 55- 57, i would be happy

Berny I'd be happy if it just stabilised at 50, at least it would make it easier to plan and budget. Although 60 would be nice and ultimately 150 would be better.

[kingalfred]

Four scenarios:

1. No vote and pound strengthens

2. Yes vote and Scotland goes it's own way with its own currency and pays it's it's debts then pound strengthens hugely

3. Yes vote and Scotland goes it's own way with its own currency but defaults on its debt than the pound falls

4. Yes vote and Scotland becomes independent but keeps pound in a union with the UK and pays it's debts then pound stays in a range

scotland doesnt want to pay its debt under SNP policy . salmond and his cabal are hiding alot about the future and the Scots need to think hard before they vote. theres no coming back.

[alant]

I understood one of the rules for any new country joining the EU was that they had to use the Euro.

By the way the oil is mine just like the pound is yours

as it is for a Welshman or somebody from any part of the UK.as you will find out when you try to steal it the English politician's have been very quiet about it so as

not to drive the majority into Salmonds black hole.

as always the lawyers are rubbing there hands.

The court cases will drag on for years.

We will join NATO (though the weapons of mass destruction

A new country joining the EU, do you mean the new England/Wales/Northern Ireland entity, the Scottish entity or both?

As an Equal partner in the union Scotland would have as much right to be a member as any of the others or are the yes protagonists right and under the current rule Scotland has zilch?

Does this mean the £ will have to be abandoned in England for the Euro?

[crazykopite]

The answer to the question is NO but I think Scotland are doomed if they decide to go there own way !!!

[bluemoon58]

It'll all end in tears...

[MJP]

It'll all end in tears...

Gonna make for some great telly over the next month at least.

[bluemoon58]

It'll all end in tears...

Gonna make for some great telly over the next month at least.

Agreed. Have you read Salmonds manifesto? It doesn't make any sense as the figures just don't add up. I personally couldn't care less whether it's a yes or no but I would urge those in the "yes" camp to read it. I don't think some people actually realise the billions upon billions it takes to form an independent nation.

Here's just one small taster on defence. And it's from a Scot...

http://www.scotsman.com/news/politics/top-stories/in-full-general-sir-richard-shirreff-s-letter-1-3526265

[MJP]

It'll all end in tears...

Gonna make for some great telly over the next month at least.

Agreed. Have you read Salmonds manifesto? It doesn't make any sense as the figures just don't add up. I personally couldn't care less whether it's a yes or no but I would urge those in the "yes" camp to read it. I don't think some people actually realise the billions upon billions it takes to form an independent nation.

Here's just one small taster on defence. And it's from a Scot...

http://www.scotsman.com/news/politics/top-stories/in-full-general-sir-richard-shirreff-s-letter-1-3526265

Salmond has also missed nuclear decommissioning costs.

Huge!

[personchester]

Should Scotland decides to become independent the British pound will not really lose financial value as a result of this, because England and Scotland are not enemy countries.

In order to avoid any GBP value problems due to the Scottish independence the English and Scottish politicians together with their banking experts will then outline a correct financial currency solutions in order to ensure that there will be no down value of the pound, and no financial problems for the populations.

[chiang mai]

Should Scotland decides to become independent the British pound will not really lose financial value as a result of this, because England and Scotland are not enemy countries.

In order to avoid any GBP value problems due to the Scottish independence the English and Scottish politicians together with their banking experts will then outline a correct financial currency solutions in order to ensure that there will be no down value of the pound, and no financial problems for the populations.

That's not what the banks and the brokerages are saying.

[AnotherOneAmerican]

The pound is doomed as far the Scots are concerned because they won't be allowed to use it any more. They will have to go back to the Scottish shilling which last traded at around 200 to the English pound.

Sterling itself should get stronger, as the UK will be relieved of the burden of subsidising Scottish education etc.

Not to mention Royal Bank of Scotland.

[oxo1947]

I'm still sticking with my view that whether or not the Scottish vote to breakaway from England, after the vote is over the English should be allowed a vote as to whether they want to keep the Scottish

Cheers

Fletch

That's really quite odd thinking Fletch.

Maybe it would be acceptable if Britain allowed that policy when it was on the winning side.

So Spain gets to Vote on whether they get Gibraltar back.

Argentina gets to vote if it gets Falklands or not. etc etc

[PowermanFire]

It's about time Scotland will be it's own country, first the English govemment take the oil, then they wanted their water, and they dumb all their nuclear stuff in Scotland, what's next, last week it was Braveheart, some People need to read their history books, Scotland,Wales, and Ireland should be a Celtic nation and forget England, they only have bully country, and nobody likes Westminster, Drive on the Yes vote, and get hid of the union jack flag, said from a Scotish person.

[SWW]

I understood one of the rules for any new country joining the EU was that they had to use the Euro.

By the way the oil is mine just like the pound is yours

as it is for a Welshman or somebody from any part of the UK.as you will find out when you try to steal it the English politician's have been very quiet about it so as

not to drive the majority into Salmonds black hole.

as always the lawyers are rubbing there hands.

The court cases will drag on for years.

We will join NATO (though the weapons of mass destruction

A new country joining the EU, do you mean the new England/Wales/Northern Ireland entity, the Scottish entity or both?

As an Equal partner in the union Scotland would have as much right to be a member as any of the others or are the yes protagonists right and under the current rule Scotland has zilch?

Does this mean the £ will have to be abandoned in England for the Euro?

I thought that in order to join the EU, there had to be a unanimous acceptance by all member entities?

If Scotland breaks away from the UK, Spain would immediately veto any attempt to join by Scotland, for fear that they will soon find themselves in the same position as the UK is in right now, with a part of itself wanting to break away.

[Keesters]

I'm still sticking with my view that whether or not the Scottish vote to breakaway from England, after the vote is over the English should be allowed a vote as to whether they want to keep the Scottish

Cheers

Fletch

Agreed. The Scottish vote is void in my opinion unless other parts of the union are allowed to vote too.

I'm ready with a few English pounds to help rebuild Hadrian's Wall to keep the Scots out of my green and pleasant land.

[personchester]

Should Scotland decides to become independent the British pound will not really lose financial value as a result of this, because England and Scotland are not enemy countries.

In order to avoid any GBP value problems due to the Scottish independence the English and Scottish politicians together with their banking experts will then outline a correct financial currency solutions in order to ensure that there will be no down value of the pound, and no financial problems for the populations.

That's not what the banks and the brokerages are saying.

They may well be saying this in order to ensure that the Scottish public does not create independence, but should independence take place then their job is to prevent currency problems in order to avoid initially a financial disaster for both countries.

[Benmart]

How can the GBP crash? If all the Scottish Pounds were recalled and destroyed that would mean the GBP is more valuable.

However the Scots want everything their way. They want to keep the Pound and their right of travel and work in Europe etc.

The Scots are no different from most people I've met in my world travels, including myself. I want what I want, when I want and quickly. Lots of work changing my mindset.

[Naam]

I'm still sticking with my view that whether or not the Scottish vote to breakaway from England, after the vote is over the English should be allowed a vote as to whether they want to keep the Scottish

Cheers

Fletch

That's really quite odd thinking Fletch.

Maybe it would be acceptable if Britain allowed that policy when it was on the winning side.

So Spain gets to Vote on whether they get Gibraltar back.

Argentina gets to vote if it gets Falklands or not. etc etc

it's not odd thinking. it's called irony

[bkkden]

Question...

Will Scotland get any claims in North Sea Oil fields? That will be very valuable and important for them if they do!!