Independent Scotland's FIAT currency - when should I move my savings?

rpc

Reaper wrote: »

I think almost certainly what will happen is what neither side is proposing - unofficially using sterling. However this would have disadvantages for Scotland such as being unable to print money to protects its banks, though some may say that's a good thing.

So no EU membership, finance sector reduced to credit unions, running a surplus national budget - sounds great.

The only sensible option is a new currency. Pegged at first perhaps, if the peg can be held (which it probably can't because George Soros will have deeper, leveraged pockets than Scotland). And then into the Euro.

HAMISH_MCTAVISH

Alex Salmond’s plans for Scotland to share the pound with the UK after a Yes vote were dealt a fresh blow after the governor of the Bank of England told the annual conference of the UK’s trade union movement that “a currency union is incompatible with sovereignty”.
http://www.scotsman.com/news/politics/top-stories/boe-s-mark-carney-reiterates-currency-union-doubts-1-3536019

murphydavid

Archi_Bald wrote: »

Regulation is all that matters to the investor. .

Its not all that matters to me. I am also bothered by the possibility of my savings being converted into Euros or whatever Scotland may end up using and the exchange rate at the time and the percentage loss each time I make a withdrawl and exchange it back to (UK?) English pounds. Ask any Italian what happened to their savings when the Euro was adopted there and I bet they say they felt they losed money and they don't have to exchange it back.
The "Are your savings safe" article has a check tool to see who own's what I am about to request that info can be added to say which nation will control each institution in the event of a yes vote.
As an aside I note most pundits say Scotland should take on a portion of the national debt so it seems logical they will also take a portion of the national assets which must include a proportion of the funds held by the Bank of England.
Anyway I have never kept any savings in a foriegn country or in a foriegn currency and don't wish a foriegn country to take over some of them by default. I was British and proud of it but now feeling more English all the time the Scots behave like this so I hope to be given time to ensure my savings remain in English pounds.
Going off thread here sorry
Another comment I read was someone saying this is a division of the UK rather than the Scotish breaking away. If so why did I not get to vote?
In fact I see this vote as somewhat against international justice as ( I believe) a German who is resident in Edinbourough and pays council tax can vote but a Scotish person living in England who is not resident in Scotland but who will end up with a Scotish passport can't vote.

jennifernil

murphydavid wrote: »

Another comment I read was someone saying this is a division of the UK rather than the Scotish breaking away. If so why did I not get to vote?
In fact I see this vote as somewhat against international justice as ( I believe) a Rusian exchange student in Edinbourough Uni who pays poll tax (is it called that) in Scotland can vote but a Scotish person living in England who pays no poll tax in Scotland but who will end up with a Scotish passport can't vote.

Like the rest of the UK, we have Council Tax in Scotland.

Also like the rest of UK, full time students do not pay Council Tax. Paying any type of tax does not entitle you to vote anyway.

You can only vote if you are on the Electoral Role. To be on it you need to be either a UK, Commonwealth, or EU citizen and reside in Scotland.

murphydavid

jennifernil wrote: »

Like the rest of the UK, we have Council Tax in Scotland.

Also like the rest of UK, full time students do not pay Council Tax. Paying any type of tax does not entitle you to vote anyway.

You can only vote if you are on the Electoral Role. To be on it you need to be either a UK, Commonwealth, or EU citizen and reside in Scotland.

OK I will edit my comment accordingly

jennifernil

The "german" does not need to be paying tax of any kind!

If a UK citizen went to live in Germany, he/she would be able to vote there.

I think it is right that only people who live in Scotland should be able to vote, after all we who live here are the ones who will be directly affected by any changes here.

Oh, incidentally, it's Edinburgh.

masonic

murphydavid wrote: »

...a Scotish person living in England who is not resident in Scotland but who will end up with a Scotish passport can't vote.

Presumably anyone who currently has British citizenship will continue to be British unless they choose to renounce it, so I don't think anyone will have a Scottish passport imposed upon them.

DiamondLil

jennifernil wrote: »

Oh, incidentally, it's Edinburgh.

Seriously ?
In that case, it's "electoral roll".

Archi_Bald

jennifernil wrote: »

If a UK citizen went to live in Germany, he/she would be able to vote there.

moot point but it's in local elections only, not in national ones. Same the other way round, it's an EU thing. I am not sure, however, what the laws are for referenda.

jennifernil wrote: »

I think it is right that only people who live in Scotland should be able to vote, after all we who live here are the ones who will be directly affected by any changes here.

I agree with you so long as the rest of us also get a vote on any changes that affect the rest of us. Such as, for instance, whether we think we should be the lender of last resort for a foreign country.

kangoora

Personally, even if we get a No vote, I have very little confidence that another referendum won't get forced through again in 10 years time.

My view of Scottish based banks and investment houses has been permanently scarred by the recent independence vote and all the uncertainties surrounding it.

I do not want any of my future investments to be placed in any institution that is subject to Scottish law (is registered in Scotland).

Maybe I'll be cutting off my nose to spite my own face but there's plenty of English based firms/funds will be glad to take my cash and I won't have to be concerned whether my cash will end up in another country.

Is this an over-reaction, possibly, will it make me feel better, definitely.