Originally posted by JustinTime
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Salmond "We can take Scotland in two weeks"
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"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain -
Originally posted by scooterscot View PostAnd accept the Scotland's share of the debt in the process?Comment
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Originally posted by scooterscot View PostAnd accept the Scotland's share of the debt in the process?Comment
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Originally posted by Unix View PostYep, you can't take assets and not take the debts. If we can't use the pound we aren't responsible for its debt. Do you think in a divorce the wife could claim the house and refuse the husband entry AND also expect them to pay the mortgage?
The First Minister has said that he would refuse to accept a share of the UK’s national debt in divorce negotiations following a Yes vote unless the Chancellor dropped his opposition to a formal currency union.
He and other SNP ministers have argued that Scotland would not take on its share of the UK’s liabilities unless its resources were also distributed fairly, including the pound.
However, economists have said sterling is not an asset that can be divided between two countries as its value rests on the ability of UK taxpayers to stand behind it. A separate Scotland would no longer pay taxes to the UK Treasury.
Mr Salmond stumbled during a phone-in on BBC Radio Scotland after being pressed by a caller to admit that the pound was not an asset but “a means of exchange”.Last edited by Old Greg; 11 September 2014, 13:17.Comment
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Originally posted by Unix View PostYep, you can't take assets and not take the debts. If we can't use the pound we aren't responsible for its debt. Do you think in a divorce the wife could claim the house and refuse the husband entry AND also expect them to pay the mortgage?"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by Old Greg View PostThere is no logical link between the two, because sterling is not an asset but a means of exchange. Scotland could of course make a sophist argument not to accept the debt, but what do you think the credit rating agencies would say? What do you think the EU would say when considering Scottish membership?Comment
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Originally posted by Unix View PostYep, you can't take assets and not take the debts. If we can't use the pound we aren't responsible for its debt. Do you think in a divorce the wife could claim the house and refuse the husband entry AND also expect them to pay the mortgage?
A currency is not an asset it is a method of exchange..... It is not in Scotland's interest to use the same currency as a different country....merely at clientco for the entertainmentComment
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Originally posted by Old Greg View PostT Scotland could of course make a sophist argument not to accept the debt, but what do you think the credit rating agencies would say?
n a massive blow to the credibility of the No Campaign’s scaremongering, the credit rating agency Standard & Poor’s released a report yesterday, clearly stating that an independent Scotland would be an investment grade economy."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by Unix View PostThat's new to me, will phone my mortgage company and say this money you lent me is merely a means of exchange stop charging me interest.
Do you understand the difference between sterling as a currency and 10 pounds sterling?Comment
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Originally posted by eek View PostA currency is not an asset it is a method of exchange..... It is not in Scotland's interest to use the same currency as a different country...."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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