Global Elites Greatly Fear Secession and Decentralization
When it comes to predictions of economic doom, it doesn’t get much more hysterical than that. Except that it does. David Cameron nearly burst into tears begging the Scots not to vote for independence.
The “Yes” campaign for secession failed by a margin of approximately 55 percent to 45 percent. Yet, even without a majority vote for secession, Scotland’s campaign for separation from the United Kingdom provided insights into the weakness of spirit of those who defended the status quo. Namely that:
Global elite institutions and individuals including Goldman Sachs, Alan Greenspan, David Cameron and several major banks pulled out all the stops to sow fear about independence as much as possible. Global bankers vowed to punish Scotland, declaring they would move out of Scotland if independence were declared. According to one report:
The Deutsche Bank compared it to the decision to return to the gold standard in the 1920s, and said it might spark a rerun of the Great Depression, at least north of the border.
When it comes to predictions of economic doom, it doesn’t get much more hysterical than that. Except that it does. David Cameron nearly burst into tears begging the Scots not to vote for independence.
The elite onslaught against secession employed at least two strategies:
The first involved threats and “for your own good” lectures. Things will “not work out well” for Scotland in case of secession, intoned Robert Zoellick of the World Bank. Senator John McCain implied that Scottish independence would be good for terrorists.
The second strategy involved pleading and begging, which, of course, betrayed how truly fearful the West’s ruling class is of secession.
In addition to Cameron’s histrionics based on nostalgia and maudlin appeals to not break “this family apart,” he attempted (apparently successfully) to bribe the Scottish voters with numerous promises of more money, more autonomy, and more power within the UK.
The threats that focused on the future of the Scottish monetary system are particularly telling. The very last thing that governments in London, Brussels, or Washington, DC want to see is an established Western country secede from a monetary system and join another in an orderly fashion.
Ryan McMaken holds a bachelor’s degree in economics and a master’s degree in public policy and international relations from the University of Colorado.
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