The thrust of the original article was that Scotland would be well advised to postpone referendum day because the financial crisis is likely to become a financial catastrophe. I agree with the catastrophe bit but Independence could be a better choice than depending upon the City State of London – it will be the first casualty of financial collapse because funny money and criminal banking practices are its foundation stones.
We are witnessing the long overdue collapse of a house of cards called fractional reserve banking and no amount of printing money is going to prop it up – the very concept that printing money will remove the sovereign and national debt problems is primary school nonsense. This is not a financial problem – it is a book-keeping problem. We have become hostages to an accountancy system designed by bankers for the benefit of bankers – it’s called the fractional reserve system. Indeed creative capitalism has mutated into financial capitalism and there is no way that a little polite tinkering by the G8 or even Newsroom is going to fix that.
We should not be considering postponing the referendum but we should be very concerned that deep in the engine room of Independence they are planning how Scotland can make itself financially independent of London, Brussels and Washington. With our own currency we can run our own affairs and trade with the rest of the world on terms that suit us and them – and it’s us first and then them. For too long we have danced to the tune of these self-interested bankers.
Mr. Salmond and Mr. Swinney – good banking is not complicated – just bad banking. Get your heads round the fact that Scots are as shrewd as anyone and perfectly able to operate their own currency and a responsible banking system and if you’re have any doubts about that read the booklet – “There’s No Independence Without Financial Independence” online at
There you’ll also find easy to watch videos and, if you’re a glutton for punishment my entry for the Wolfson Essay Prize – An orderly exit for Greece from the euro. The same principles apply to Greece – better to be captain of your own destiny….
Recent comments by Frank
- Helensburgh CHORD Referendum: big majority for Option 3
Good outcome – hope you’re right about the Comet Lamps – there were a lot of mutterings that they were to go whatever the outcome…..
- BBC Scotland independence debate
David McEHill is fortunate to have a private line to SNP policy on the currency. A study of the Airdrie Savings Bank and the principles of full reserve banking would indeed be an encouraging start – if it is the case.
There are two issues here – the first is the best currency option (and there’s no banking reform without your own currency) for an independent Scotland. There is the pre 2008 banking, euro and sovereign debt scenario – and then there is the best option for any responsible government looking ahead to the potential collapse of the euro and the entire fractional reserve system. The latter will make Greece look a relatively minor blip on the economic radar, and printing money – the present universal solution, is no answer – vide Weimar and Zimbabwe.
What is needed is a think-tank which can look beyond tinkering with the present system, beyond rearranging the deckchairs on the SS Sterling. Why are we not talking openly about the Merk as a Scottish parallel currency alongside Sterling – backed by the Scottish government? We could use it to fund public assets and infrastructure free of debt and inflation. Outrageous? Not as ridiculous as our labour and resources tied hand and foot by ‘affordability’ whilst our society is destroyed by egregious and institutionalised moneylenders.
Take forty minutes to look at the 3 part video below and start to question the dogma we are still being fed by governments controlled by big business, big banks and big bureaucracy –all too big to fail…. and then Mr McEHill ask yourself is our – yes our, SNP doing enough?
- BBC Scotland independence debate
Whilst the big party politicians sniped trivia at one another did not wee Patrick Harvie do well|?
He was the only one to express a meaningful vision of independence – a country where banking reform would replace the values of the City of London with those of a fairer and more responsible society. In a few words he said it all.
Westminster, like Washington, is en route to disaster, both so enmeshed with the banking elite that they cannot, or will not, consider the alternative. Independence must mean financial independence if it is to mean anything at all and as ninety nine per cent of us want banking reform why on earth does the SNP duck the issue? It should be one of the star prizes of the entire campaign.
- Council suspends Helensburgh CHORD Colquhoun Square redesign
Let’s hope one of the options is ‘keep it simple’. Leave the green where it is but pedestrianise the Square – except for local busses. Pave all the existing roads and pavements to match the South side as closely as possible; install plenty of benches ∧ discreet litter bins and provide two really attractive bus shelters. Refurbish the Comet lamps (they are being rewired anyway)…. and remember to allocate a budget for maintenance and keeping it all spick & span.
As for the rest of the CHORD scheme – a waste of public money and a recipe for traffic congestion – particularly as and when the pier head is developed. Leave the money in the bank until it’s needed for proper sea defences and a promenade that’s not washed away each winter.
Finally – having fought for this second bite at the consultation cherry and voted in a democratic administration, let’s hope the citizens turn out in numbers and register their opinions.
- The shape of the new council
Well done ForArgyll for such thorough and quick reporting. All eyes will be on this new administration and it looks good to me with good ‘attitude’.
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