This blog supports Scottish Independence. Comments on it, and contents of linked blogs, do not necessarily reflect Munguin's opinions.
Peter Brett-------BelfastAlex Salmond says that the Bank of England was set up by the United Kingdom as a whole and for the UK as a whole, including the part that he would like to become independent. He therefore deduces that in the event of a Yes vote, the Bank of England should continue to be a shared resource.He also says that the exploitation of North Sea oil, which was set up by the UK as a whole and for the UK as a whole, including the part that he would like to become independent. He deduces that in the event of a Yes vote, North Sea oil should be wholly a Scottish resource.Can anyone spot a flaw in his logic?
No! Please enlighten us with this logic.
Indeed. A natural resource, like oil, coal, gas or water, and a currency we use doesn't seem to be quite the same thing to me.Feel free to explain your logic though
Very flawed logic peter! Firstly and lets be clear on this for the avoidance of doubt...the BOE is an international banking system that the union as a whole has been contributors of, note indelibly in your mind that the BOE is an INTERNATIONAL banking system which there HQ address happens to be in London and note that we are talking of financial assets in this case, whereby address means nothing other than location as the BOE conducts its business globally, the contributors to this banking system began with the union of countries and has expanded as banks do, no one country runs and owns a bank including England, it is a shared asset of the union. Oil fields! Now then! The major difference in your second example is the fundamental fact that this resourse is on Scottish soil! Or to be more precise in Scottish international waters, it is in fact a product of Scotland as much as scotch whiskey, therefore as it is a product of the land/seabed of Scotland, it is part of the produce of Scotland and belongs to No other.The stark difference that you have failed to grasp, is that oil is a product, it is a tangible thing that makes money through trade, while banks are not a tangible thing including the BOE money making money is not a product of the land! It is solely about investments made through loans with interest on return, whether that be something simple like both yours and my mortgage, which banks profit massively on, or something more complicated like infrastructure investment or corporate buy outs or loans to another country, which is something that the UK is acutely aware of given the debt that it has accrued. No my friend money and banks while they are an asset are not a product! A tangible physical thing that can be traded, you do not trade money on the stock market, that area is for goods that are saleable through trade like lets say...Oil! You see the difference? I trust this clarifies the reason that our Oil will not be shared any longer, despite the fact that Westminster to her own selfish benefit and through there greed monopolised that particular revenue quite enough thank you, as fare as the currency is concerned it is shared amongst the UK along with its assets as contributors entitled through investment.Which is quite different from the Oil extraction that is performed by Oil companies and a seabed write is paid by the companies extracting the Oil along with a tax on every last barrel to the English Westminster government, you see Scotland dies not see any of that revenue as it is paid straight to the UK treasury.That is about to end my friend, you are however entitled to have companies extract your own Oil when you find some and I do wish you well with that.
Yes. How brilliantly put.We are talking Apples and Oranges here.If we are looking at natural resources being shared...then there is all the shale oil that osborne is risking the future of people on, in the desperate hope that it will stave off financial collapse.
Peter Brent, fek off back to the office and pay attention.JimnArlene
Indeed, I agree wholeheartedly! In fact, blowing huge holes in his ridiculous assertions we can see another HUGE problem. As you are all aware the visible spectrum is made up of all the colours. All of these colours, in combination, produce the colour white. This is incontrovertible FACT! Black is a colour, another incontrovertible FACT. Therefore BLACK IS WHITE!! Thank you Peter for your astounding lack of logic and intelligence combined with a starting viewpoint only able to see what you wish, despite a heap of evidence to the contrary. You can use the black is white argument on your friends if you wish, its no dafter than anything else you've said. One small flaw, black is a density, not a colour. But I know you don't let facts and logic worry you! Have fun..
Absolutely Anon.Incidentally, I'm thinking that NI should do something about either independence or trying to join up with Eire.I can't see the Uk keeping up the finding for Ulster that it has been doing. If Barnett is to go, then I think NI will find itself very much poorer, and now that the troubles are calmed the UK won't want to waste its very limited money (on in fact its borrowed money) on a place where there are no votes for either of the main parties.
Anon, here's another one. All the colours of the spectrum i.ie. Red Orange, Yellow, Green, Blue, Indigo, Violet when combined = white. Take the same colours in a paint box, mix and you get black. Conclusion: black is indeed white.c
This is surely a bombshell for the NO campaign http://www.oilandgaspeople.com/news/1039/scottish-west-coast-untapped-oil-and-gas-reserves-worth-trillions/Scotland could be sitting on more than double the amount of oil and gas reserves currently predicted, a new independent industry investigation has found. The investigation reveals that the scale of Scotland’s untapped frontier West Coast or Atlantic Margin has been underestimated.The investigation was undertaken by oilandgaspeople.com, the world’s largest oil and gas industry jobs board, and independent North Sea oil and gas industry experts. The investigation included interviews with industry experts and collated seismic and expert evidence from a range of independent sources such as the British Geological Survey, DECC, oil and gas companies, the Institute of Petroleum Engineering and the Energy Institute.The findings show that the current predictions of extensive untapped reserves of oil and gas could be underestimated by 100%. The West Coast alone could provide oil and gas for at least 100 years with an estimated value of more than £1 trillion.Yet the area – off the west coast of Scotland and Outer Hebrides and Shetland –has remained largely untapped due to deep waters and difficult geological conditions.
Yes. Rather amazing that it's not all over the front of the papers. This is only good news if it is for the UK ... not for Scotland where oil and gas is a burden.As technology improves getting oil out of the ground is always going to be easier and cheaper and more financially feasible.How much would the UK like to have a trillion pounds given its current debt of around £1.4 Trillion?
Nah, you're wrong here Marian. I think you've got this back to front, this news only strengthens Darling's hand cause as we all know from when he previously spoke about oil it will run out in 2017! I'm sorry to tell you Marian that this is just a spoof! How on earth could there possibly be oil off the West coast after all would the great and good of WM not have been in there with licences?Oh wait a minute they were but then someone from the M.O.D. blocked them something or other to do with their wee Tonka subs crashing into things I think was their excuse.
Peter,Your logic is very good! I have already prepared a list of the 20 London underground stations that I would like to be transferred to Scotland, and with 8% of the motorways in England returning to the country that paid for them, the tolls will easily cover the free personal care for the elderly we have in Scotland. Thank you for your interest!
Which wing of Buckingham Palace do you want David... and should swe send a wing of Holyrood b y return mail? :)
Don't forget our share of the O2, London Olympics arenas, London Sewers, London's Cross rail system, London's new planned bike friendly Thames crossing, M25, Eurotunnel, HS2, HS3 etc David. :-)
Where shall we put it all?
I'm struggling for an answer to that one Tris, my back yard is full to overflowing with all that nasty blak oil stuff and there is not much room left. LOL
Dinnae want ocht o ton shite, jist freedom: fee me an ma kin.JimnArlene
The only thing that is running out Munguin is time for all the troughers. Darling yer time is up, and take Broon with ye.
And Dougie and murphy and Harris and Chairchoob.By the way, whatever happened to Harris since he was sacked by Lamont?
Superb Tris really enjoyed the comments . great stuff folks. We are swimming in oil and the burden is making me smile ever wider . Oh to be too poor , too wee, The No hopers are gonna be livid when they see the BP Clair advert. it's only one wee bit and it will produce for 30-40 years. You had a great pic here Tris. The wife biting her nails saying "there's only a trillion left " The 18th will show a huge YES majority , my guess over 6o% .
Fingers crossed for that Richy.Tell your wife not to worry too much. A trillion will keep us going for a few weeks... :)