Saturday, 31 July 2021

The Pound Is Our Ground

Yesterday brought yet further proof that devolved Scotland was a failed state. Its complete about turn on what had always been a peculiarity of the tartan and shortbread type of Tory has turned out to have been one of the biggest mistakes that the Left has ever made. Some of us never were comfortable with it.

And playing for Chelsea, and therefore living in England, Billy Gilmour would have no vote in a Scottish independence referendum, even though the result might very well make him liable to pay tax to two different countries, like an American citizen living abroad.

But the average age in Scotland is 40, and the average income is 100 per cent of the United Kingdom average. So let the forces of separatism have their electoral victory. Such a place is never going to put its mortgages or its pension schemes into an informal currency.

No one in the Federal Reserve cares what Panama thinks, nor should they. And no one in the Bank of England, which was founded by a Scot, would care what an independent Scotland thought, nor should they.

The Panama Option is a latter-day Darien scheme. The rise of Modern Monetary Theory since 2014 has left the Left with no excuse to support secession from a sovereign state with its own free floating, fiat currency, in favour of this.

The currency is the ground on which we defeated the separatists last time. It is the ground on which we shall defeat them next time. It is the ground on which we can and must defeat them every time.


  1. You'll be posting this below the line on your usual haunts but this should be a paid column.

    1. I was not born into any of the right families for that.