OLD MCDONALD HAD A YARN!

Yesterday the Union dusted down old McDonald, the Professor rather than the farmer who expounded on his brand new website that a Scots pound would we worth 20-30% less than sterling.

This is classic Propaganda. Make sure the lie is big enough to get attention, call in the media allies and make sure they all go “big” on the story. Trouble is it works, that is how the UK, or rather England, voted for Brexit.

The old you are just too poor story is a long-standing one. In India British records showed conclusively that India was in deficit every year of British occupation. It was only established years after the British were expelled, that all these years of “deficit” had resulted in an estimated $45 TRILLION, yes not million or even billion, TRILLION being extracted by Britain over the period.

Readers may recall more recent examples Sir Ian Wood, leading the tale that there would shortly be no North Sea oil back in 2014. Yes the same man who now calls for the urgent development of giant new fields

Of course this is nothing new. Until 1921 the House of Commons Published Official Figures outlining the Income and expenditure figures from Scotland. Without exception they showed Scotland contributed far more to London than Government expenditure amounted to in Scotland. The “ balance” was retained by London for “Imperial” services. Note the date they ended this practice, just as Ireland was breaking free from London. Publishing information showing a huge Scottish surplus every year had to be stopped…and stop it they did.

Since then Government efforts have been intent on disguising and hiding Scotland’s contribution. GERS was invented to aid those efforts, it is not true accountancy, it is what is gently described as “estimates”. Who determines those estimates?  Well largely London of course.

I am going to turn to his story in a minute but first let me state that one of the most important abilities any country needs to operate it’s own currency is the ability to generate foreign currency earnings. I will comment on this again at the end of this article but keep it in mind when reading the chart below from the Office of National Statistics which I chanced upon when researching this article ( I hope finding it does not result in its publication never being seen again).

This chart on its own disproves Old McDonald’s propaganda. It shows Scotland’s outstanding balance of trade surplus, second only to London and way ahead of the rest of England. Without Scotland The UK balance of trade deficit would increase by a third further weakening sterling. You would be hard put to find many countries of Scotland’s size reporting positive balance of trade figures like these, a Scottish pound would not be worth less, it would be worth more because for it to exist ENGLAND would have lost the cash cow that Scotland represents in these figures. Maybe it’s the potential loss of this cow that has got old McDonald involved. It may be the farmer after all!

So, in summary you are expected to believe that the country of 5.4 million that is rich in oil and gas, that has much envied and growing alternative, renewable energy resources, that produces sufficient food to feed its population, that holds vast fish stocks that has huge export potential from its premier drinks industry with not just whisky, but also gin and vodka exports growing all the time. That has a reputation for great quality food and enormous tourist potential is a basket case.

Meanwhile the most overpopulated country in Europe, that cannot feed even a tiny percentage of its population, that has completely inadequate energy resources, that has largely lost its manufacturing base, that has a huge balance of trade deficit in most of the country, that increasingly relies of London to stay in business. A London facing increasing challenges from the other European Financial Centres in Europe, including tiny IRELAND who have had to put up the shutters to any more financial companies moving there from London , since Brexit so many have already moved out. Only this week Bloomberg confirmed Paris has eclipsed London as the top financial centre in Europe. Note also London had a deficit in goods only getting into surplus thanks to services, the very services now slipping away from London since Brexit.

Now to what really got me angry. I am holiday but this morning I was looking for rebuttals to Old McDonald from the army of highly paid MP’s and MSP’s or their army of paid researchers. I saw very, very little just the odd one line comment. It’s not good enough if a 70 year old, one man band, on holiday in the USA can put together something like the above quickly why can’t that huge number of highly paid people do the same or similar?

One reason, effort and commitment. Sort that out and Independence is in clear view and getting much nearer. Please share this post so our people recognise the wool that is currently being pulled over their eyes by the UK MEDIA.

I am, as always

Yours for Scotland

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