Middle Money

The average age in Scotland is 40, and the average income is 100 per cent of the United Kingdom average. 

Scotland is a middle-aged and middle-class place, full of people who understand perfectly well that the licensed printing of the Bank of England's currency with Scottish branding on it does not constitute the issuing of currency.

It is said that Scotland would use the pound sterling voluntarily, as Panama uses the United States dollar. But nobody in the Federal Reserve gives a damn about Panama. Panama is hardly the happiest point of historical reference when discussing the economy of an independent Scotland. 

And middle-aged, middle-class people will not be voting to put their mortgages or their pension schemes into a foreign currency that their country used voluntarily.