lochend wrote:The BBC ... if there are lies and manipulation these are par for the course with that organisation.
Lochy, there is no
"if" about it.
The BBC
is the propaganda wing of The Crown.
lochend wrote:Politicians and banks have positions to protect but that cannot be levelled at the chief economist at Deutsche Bank.
Let us look beyond one man, at one bank.
Consider the position of the IMF.
The International Monetary Fund said on Thursday that a vote by citizens of Scotland for independence could raise many questions and upset markets in the short term.
A vote in next week's referendum to break from the United Kingdom "will raise a number of important and complicated issues that will have to be negotiated," said IMF spokesman Bill Murray.
"The main immediate effect is likely to be uncertainty over the transition to a potentially new and different monetary, financial and fiscal framework in Scotland," he said.
"While this uncertainty could lead to negative market reactions in the short term, the longer term will depend on the decisions being made during the transition, and I do not want to speculate on this." linkAs I have always maintained, there will be a period of re-adjustment.
The other side of which, Scotland as a resource rich country, will be in a stronger position.
Countries which have natural natural resources are wealthy, and resilient.
lochend wrote:David Folkers-Landau earns a living giving financial advice to his clients,mostly very important companies and his advice would have to be independent, giving a balanced view,if not he would be out of a job.
He works for a bank, he is not independent.
In contrast, look at the position of Aberdeen Asset Management,
globally the third largest
independent investment company.
An independent Scotland would be a big success, according to the head of the country's largest asset manager.
Martin Gilbert, chief executive of Aberdeen Asset Management, said Scotland could prosper regardless of the outcome of the referendum next week.
Gilbert said the Scottish government's preferred option of a formal currency union between an independent Scotland and the rest of the UK would be "highly likely", despite it being repeatedly ruled out by the three main pro-union parties.
Scotland could also benefit by refusing to take on its share of the UK national debt if denied a currency union, he added.
He told the Press and Journal newspaper: "I think an independent Scotland would be a big success."
He added: "Most sensible people now accept that Scotland would be prosperous with either outcome in the current constitutional debate.
"A sterling union would be both desirable and highly likely whatever is said in London now. Sterlingisation, that is keeping the pound come what may, would be a pretty good option.
"Low or no debt would be the position if an independent Scotland were denied access to Bank of England financial assets, and that would leave the newly independent country in both budget and balance of payments surplus – not a bad start."Or perhaps, since you like bankers
Sir Angus Grossart, chairman of Noble Grossart merchant bank, who suggested in the Financial Times that
the impact of the referendum on the markets had been "severely overstated".Or even, an economist
Prof John Kay, from the London School of Economics
"Scotland is one of the wealthiest nations in the world, richer per head than France, Japan and the UK, and with the powers of independence we will use that wealth to ensure all of Scotland will thrive," he said.lochend wrote:David Folkers-Landau .... economic mistake as large as Winston Churchill's decision in 1925 to return the pound to the Gold Standard or the failure of the Federal Reserve to provide sufficient liquidity to the US banking system, which we now know brought on the Great Depression in the US."
Ah, where to begin ....
This is a bankers comment, in support of the banking establishment.
Currency backed by thin air, as opposed to a real tangible asset, such as gold or oil.
But he is correct, it was the banking system, the Federal Reserve
Bank,
which brought on the Great Depression in the US.
