Man in a Shed: Perhaps future North Sea Oil revenues should under write the government loans to RBS and HBOS ?

Monday, January 19, 2009

Perhaps future North Sea Oil revenues should under write the government loans to RBS and HBOS ?

This should concentrate Scottish Labour minds. Since RBS and HBOS are Scottish banks, how about underwriting them with future revenues from Scottish Oil ?

I stand back and await the howls of protest .....

2 comments:

Drew said...: I think it's a great idea. So long as it takes into account the Continental Shelf Act and does not include the English share!; 5:17 pm
Wyrdtimes said...: Good idea but I think the Shetlanders would object!; 11:27 pm

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The pound in your pocket

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"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ... Lenin was certainly right. There is no subtler, no surer means of over-turning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." John Maynard Keynes, 1920.

"To preserve [the people's] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude." Thomas Jefferson, President of the United States of America,1801-1809.

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