Scottish Referendum

Carousel Banking RBS Losses

Let’s get back to 2007.

At the time RBS, HBOS and others were in danger of failing, the UK Treasury finally stepped in, (after much dithering on the part of Alistair Darling with some financial assistance.

The main package of financial support, had been provided, to the Bank, (at least 3 weeks before) by the USA.

80% of losses in the market, were attributed to RBS London based business operations.

Lets look forward, (to an independent Scotland)

Westminster politicians, (in a rather purile fashion) continue to broadcast that an independent Scotland, should not expect English taxpayers to stand behind failing Scottish banking institutions.

A reminder; 80% of losses at RBS in 2007 were attributed to (Carousel Banking) in London. That would be one liability removed.

All banking crisis, (in a world free trade market) are global and losses will always be shared between countries. Myths, (mischeviously circulated by Westminster politicians) are pure piffle.

In a banking crisis banks will call upon many Central Banks as a lender of last resort. That is the over-riding role of Central Banks in the jurisdictions that they have control over. e.g. 80% of losses attributed to London in 2007 would still be the responsibility of a UK government.

Don’t let them scare you into submission. Vote, “yes” to independence

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