After more than 300-year the Kingdom of Scotland could emerge as an independent sovereign state again. Scotland which shares a border with England to the south, joined the Kingdom of England on May 1, 1707. Together with Ireland they created the mighty United Kingdom. But unlike England, Wales and Northern Ireland, Scotland has its own legal system in addition to its own education and religious institutions.

 

It’s very similar to Sabah and Sarawak of Malaysia – the Kingdom of Sabah and the Kingdom of Sarawak joined the Kingdom of Malaya on September 16, 1963, cheekily speaking. The glaring geographical difference is perhaps while a Scottish can drives into Britain, a Sabahan or Sarawakian needs to fly or swim across South China Sea into the then Malaya or today’s Peninsular Malaysia.

Just about a month ago, the idea of Scotland getting out of England was the biggest joke at most of the pubs during their beer sessions. After all, it was merely 39% “Yes” votes as against 61% “No” votes who prefer a Scotland independence. Today, a whopping 51% votes actually want Scotland to be independent. The poll that puts Scottish separatists in the lead sends the Kingdom of England into chaos, including Cameron administration and even the Queen.

 

The panic had forced the Queen to summon prime minister David Cameron for a “talk” yesterday. The Buckingham Palace was so concerned about the breakup in the 300-year-old union that they saw it necessary to “send” the Queen to Scotland on September 18, the day the Scottish people will choose once and for all in a referendum if they want an independent Scotland or to continue staying with England.

In fact, the impact of a Scotland independence have already started spooking investors, especially the currency traders. The British Pound is crashing, and could get worse if polls continue to see a further spike in “Aye” for those who prefer a separation from the British, right to the referendum day in another ten days. And if the “Better Together” campaign has surrendered as much as 22-point lead in merely a month, it’s absolutely possible that the Scottish could emerge the winner.

Amazingly, Chancellor George Osborne announced an 11th hour guarantee to give further powers to Scotland over tax, spending, welfare and other areas – an obvious attempt to bribe the Scottish. Really, have the British government just woken up after all these years? It gets so serious that even former Labour prime minister Gordon Brown’s wife Sarah was mobilized to fish for more “No” vote.

Some Tory MPs even warned that PM Cameron would have to resign if Scotland succeeded to go independent. But at the same time, Osborned also threatens that the Scottish would not be allowed to use its currency – the mighty British Pound – if they opt for independence. Heck, there’re tons other issues which the British government can use to scare the shit out of the Scottish voters.

 

Would England bar Scottish citizens from crossing the border into the country, with excuse that Scotland is not a member of EU and illegal migrants are using the newly independent country as back-door to gain access to England? Would Scotland be forced to pay up its portion of UK’s national debt of  £1.32 trillion, which is about 8.4% or £111 billion?

Of course the Scottish would be very happy to pay the peanuts, if their argument and calculation about their ownership of £1 trillion of reserves of oil and gas in Scottish waters is valid. The £1 trillion could last the 5.2 million Scottish for at least 100 years. The new Scotland government can also use the British’s present Royal Naval base at Faslane their bargaining chips, not to mention they would go republic instead of letting the Queen to remain as – Queen of Scotland.

 

Nevertheless, between now and ten days later on September 18, all hell breaks loose and there’s only one way that the UK stock market, currency, bonds can go – the south. We’re not sure if George Soros has done any shorting himself though. It would be such a shame if he didn’t, considering he’s the same man who broke the Bank of England. But even Soros himself may not see this coming.

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September 8th, 2014 by financetwitter

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