Monday, November 23, 2009

Currency Crisis

Currency crisis predictions are on the rise. A few examples from today for your entertainment

- MarketWatch:

Einhorn bets on major currency 'death spiral'

Apparently Greenlight Capital is betting on a collapse and a spike in interest rates.

- Over at ZeroHedge there's:

Here Is Why The Dollar Is Now Effectively Worthless

And then there's another scary prediction of major crisis:

These all relate to the $ but don't forget that in many ways Britain's problems are worse! How long is it going to take to sink in? It's a shame that the SNP are stuck in the position of trying to make sure Scotland gets it share of the freshly printed money. As a government of an independent Scotland they could have stopped the debt spiral.

It's time that the SNP changed tactics or at least prepare for the worst. If as seems likely Britain has some kind of crisis then the nationalists must be ready to pounce. The groundwork needs to be prepared now. Clearly, the SNP should be hammering Labour for the state of the economy. Secondly they should be banging on about the danger of Britain being bankrupt. If you warn Scots now that being part of Britain is dangerous then when the crisis hits, the message that independence is a solution will resonate strongly.

Now is the time for the SNP to show some character. They've shown that they are responsible, now they must show that they have vision and political substance. There is a huge opportunity to outmanouvre unionism. If Salmond and company can think outside of the box of debt driven consumer economics and see that we're heading straight over a cliff, they could position themselves well for that referendum and carry a lot of Scotland with them.

Come on guys, smell the coffee!


cynicalHighlander said...

The problem is no UK political party understands were money comes from and are still besotted by a failing capitalist system. The party that recognizes that the world economy is shrinking year on year could capitalise on it if they can get the general public on board, very difficult.

Alex Porter said...

Good point cynicalHighlander,

I don't think this is a failure of the capitalist system per se. I think that we've just had the corruption of the capitalist system because of the intervention of government. Once the government gets involved it gets corrupted by the money men and ends up changing laws in favour of interests other than the general population.

The system is collapsing and the capital of Britain has been looted. People need to know the truth. If Salmond prepares people for what's about to happen they'll trust him. An ounce of trust in swamp of corruption. When the facts reflect his message they'll get the point that only the SNP can be trusted with the liberties and freedoms of the people!