Hong Kong Money Market Boosts Scottish Independence.
At the time Scotland re-enters the world stage as an independent country, use of sterling will become the subject of debate within the worlds money markets. Retention of Sterling, without a, “lender of last resort” is gaining ground as a preferred option,(mirroring that adopted by a thriving Panama which adopted the $US as it’s currency) given that the Westminster treasury is very heavily over committed, in any event, carrying the heaviest financial deficit in the world.
It is likely the Scottish pound will gain in value against the rUK pound in the financial markets of the world. Anyone possessing Scottish notes, in any volume, would be well placed to make a fair bit of profit. The Chinese plan long term and are apparently ahead of the game.
In a week that has seen Britain discuss the future of sterling and the possible break-up of the United Kingdom, Hong Kong’s money changers have provided an unwitting boost to the Scottish independence movement by offering a separate – and more favourable – rate for Scottish pound notes. Currency exchange company Mega Foreign Exchange listed the Scottish pound in its exchange rates, valuing it higher than the English pound. Yesterday it was offering HK$11.50 for a Scottish pound but HK$11.30 for an English one.