Bank Of England Panic! Scottish Independence Bank Run Already Underway!
Market Oracle
Whilst most of the people of the UK are focused on the increasing frenzy of the too and fro politicking going on in Scotland in the build up to September 18th referendum, unbeknown to most including the mainstream media is that there is already a bank run underway not only in terms of flight of capital from Scottish banks but that is hitting the whole of the UK hard in terms of capital outflows.
Understand this – It does not matter what the Bank of England states following a YES vote on September 18th – There will be a run on Scottish Banks by panicking depositors just as there was on Northern Rock.
Whilst the epicentre of the bank run is Scotland as Scottish banks haemorrhage bank deposits, however the risks of Scottish independence is resulting in a flight of capital out from the whole of the UK which so far this year has seen more than £100 billion leave the UK which is set against an inflow of approx £50 billion for 2013. And the amount of capital outflow is accelerating as evidenced by the mainstream press recently partially waking up to what is taking place by reporting on the £17 billion of outflow for the month of August alone.
However, we won’t know the statistics for September until well into October so the place to look for the answer as to the intensity of capital flight from the UK is the British Pound, for depositors and investors pulling funds out of the UK would SELL Pounds for other currencies such as the Dollar and Euro. In this respect sterling’s slide has accelerated during September reaching a recent low of £/$1.60, near twice the decline for the whole of August which suggests that the UK could have seen as much as £34 billion leave the UK so far this month that could more than triple if Scotland actually does Vote YES. Where it would not surprise me if the the British Pound plunged to under £/$1.50 as panicked investors sold UK assets.
Therefore by the end September, following a YES vote the UK could have experienced its worst month ever in terms of capital flight of as much as £100 billion that would be in addition to the 100 billion already pulled out of the UK upto the end of August, and there would be little that the politicians or Bank of England could do or say to prevent the exodus of capital continuing for many months more to come.
Independent Scotland’s Trojan Horse
Whilst Alex Salmond continues to deluge the airwaves with propaganda surrounding the potential for ‘sharing’ of the Bank of England, the fact remains that UK politicians of all three major parties unequivocally continue to reject the SNP’s cunning plan to effectively permanently park a Trojan Horse outside the Bank of England on Scottish Independence day that would effectively allow Scotland to go on an deficit spending binge on a sterling credit card by printing debt without the consequences of currency panic that normally would result in very high if not hyperinflation, but instead like a cancer seek to consume its English host over a number of years as the policy of sterling sharing sucks the financial life blood out of the British Pound.
However such scottish nationalists central bank sharing delusions are just not going to happen as two nations CANNOT effectively share the same bank account! The scottish people should not be taken in by these blatant LIES because it is just NOT GOING TO HAPPEN!
For instance recently Scotland’s SNP Finance Minister, John Swinney was caught in the act when had made the following false statement…
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Whistler Blowers, Insiders
The filthy jew controlled England can keep their money, we do not want any part in their blood money.
les of that talk, they’ll be civil war before you know it, oh wait, they already is,
East Ulster-Riada is seceding.
…………???
FROM EVERRRRRRYYONE!!!!!!
Perhaps international investors are waking up to the fact that the entire UK economy is a mirage built upon credit, leverage, asset bubbles and data fraud. The housing bubble perhaps starting to burst would be a real factor in capital flight.
The day on which deposit theft occurs is fast approaching. There could be a number of triggers. The bursting housing bubble could be one as insolvent government is increasingly dependent upon the inflated housing market for revenues.
Should Labour win the next election, the outflows we’re seeing now will be small beer indeed.
Scotland should seek extradition of Blair and cronies for involving Scotland in phoney war of deceit, also cities like newcastle manchester Liverpool Leeds Birmingham already talking of taking greater control of their finances from the corrupt London based crime inc…..
on the issue of trident you would allow 8000 jobs to place the lives of 5million people in jeopardy because you are first strike target for allowing these weapons upon your shores, break up the big corporate farms and reclaim land from english land owners and return it to the crofters you will have plenty of employment and diverse farming industry
It is all about change and the end of the 1688 bankster regime, Scotland is voting for Independence at which point it can do whatever it likes – provided its electorate approves.
When Scotland has its own currency and issues it debt free of course it will go on a spending binge, but it will not be on the nations Gilt credit card at 5% interest so banks can use such money it inflate, buy and control the economy and the nation.
The odds are Salmond(A qualified and time served Economist) has already got the plans ready for dual currencies – Scot pound and Euro, fixed exchange rates and a Scottish version of Visa. Bitcoin is already used mainstream since 2013 in the Isle of Man and both it, the Channel Islands, Bermuda etc. are the prime examples of how to manage an Economy with near no resources succesfully by minting cash to pay for Government spending rather than deficit spending to prop up a rigged currency which hyperinflates.
I am UKIP, but I accept my Scottish Cousins right to leave the UK Federal State in the same way and for the same reasons I wish to leave the EU, my wish will always be for closer ties and perhaps if they were treated better for the last 300 years rather than as a consumerble subject territory by the London Mafia we would not be looking at a seperation, either way Scotland leaving the UK will not hinder the democratic rights of the UK, but will enhance the sovereign rights of its peoples as they overthrow the moneylenders, bit by bit.