Tuesday, 18 February 2014

The Big Currency Bash.

Well, it's been hot news since Gideon laid his cards flatly and squarely on the table. The Scots and their Nation are second-class citizens of Planet Earth when it comes to currency sharing. And while I don't normally re-blog items, I saw this post pertaining to the stramash on "who can do what with a pound" while on Facebook today, and thought it was worth the reposting. 

Thanks to Mairie NicIllemhoire and Ken Potter for all the information:

"I'm not in favour of the Euro as our currency post-indy, but nonetheless, I found it very interesting to discover that there are several non-EU members who use the Euro as their currency, namely: Andorra, Kosovo, Monaco, Montenegro, San Marino, and Vatican City.

With regards to sterling, the current list of official users (plus secondary currencies, in brackets) are:

United Kingdom,
British Antarctic Territory,
Falkland Islands (alongside Falkland Islands pound),
Gibraltar (alongside Gibraltar pound),
Saint Helena, Ascension and Tristan da Cunha (Tristan da Cunha; alongside Saint Helena pound in Saint Helena and Ascension),
South Georgia and the South Sandwich Islands (alongside Falkland Islands pound),
British Indian Ocean Territory (de jure, US Dollar used de facto),
Guernsey (local issue: Guernsey pound),
Isle of Man (local issue: Manx pound),
Jersey (local issue: Jersey pound).

Apart from these OFFICIAL users of the pound sterling, there are the following places using sterling unofficially:
Uganda,
Zimbabwe,
Zambia,
Sierra Leone,
Tanzania,
Rwanda,
Malawi,
Botswana,
plus the Pakistani city of Mirpur in Kashmir.

Historically.
After becoming independent, Ireland continued to use the Saorst√°t pound (Irish Punt), which remained pegged with sterling until she joined the European Monetary System in 1978, whilst the UK remained out. Other areas of the, now defunct, Empire have also used sterling in the past - the gold sovereign was legal tender in Canada despite the use of the Canadian dollar.

Several colonies and dominions adopted the pound as their own currency. These included Australia, Barbados, British West Africa, Cyprus, Fiji, the Irish Free State, Jamaica, New Zealand, South Africa and Southern Rhodesia. Some of these retained parity with sterling throughout their existence (e.g. the South African pound), whilst others deviated from parity after the end of the gold standard (e.g. the Australian pound).

At this point, I'm thinking that someone needs to put this to Better Together, and ask 2 salient questions: 


1) Just exactly WHAT makes Scotland different from any and all of these other places?
 
2) Name one place that has ever been refused the use of sterling. Just one!"


It will be interesting to hear if they've got an answer to either of those questions. 

As we approach the referendum, the output of scaremongering dross from the Unionist side is building to a torrent . But just how much more will the people in Scotland take and how much of it is now being seen for what it truly is - utter nonsense? 
I get the feeling that Westminster forgets even the humble Scot has access to the internet where any amount of information is available and these pronouncements can be checked and double-checked and seen for the misinformation they are.

Meanwhile, on the rest of the planet, the thought of an independent Scotland with a Scottish Pound appears to be perfectly acceptable. For instance, this little article - Hong Kong Markets favour a Scottish Pound - published last year on April 28th shows the money markets of the East giving a more favourable rate to the Scottish Pound than Sterling. It looks as if foreign markets think a Scottish Pound would be a safer bet than rUK Pound. 

I shall await the next development, scare story, bullsh*t with baited breath. I'm sure, just like buses, several will turn up at the same time.