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"You Can Take Your Scottish Freedom... But You'll Never Take Our Gold"

Tyler Durden's picture




 

We can see it now, a wine-stained David Cameron staggers slowly towards Hadrian's Wall eying the hordes of Scottish gentlefolk staring at him; he glances back at his supporters (who cheer somewhat begrudgingly) before rapidly returning his eyes to the Scots and proclaiming... "you can take your freedom; but you'll never take our... Gold." As Reuters reports, an independent Scotland could lay claim to a part of the United Kingdom's 310-tonne gold reserves if votes go in favour of the "Yes" campaign this month, with ownership of Britain's bullion hoard up for negotiation along with other assets.

 

The "high-risk" event is increasingly likely - as evident in the FX markets - but the full consequences appear far from clear (as Reuters reports),

An independent Scotland could lay claim to a part of the United Kingdom's 310-tonne gold reserves if votes go in favour of the "Yes" campaign this month, with ownership of Britain's bullion hoard up for negotiation along with other assets.

 

"The distribution of the UK's assets in the event of Scottish independence would be subject to negotiation between an independent Scottish Government and the continuing UK government," a spokesman for the United Kingdom Treasury said on Monday.

 

The United Kingdom, whose reserves are worth 7.84 billion pounds ($12.6 billion) at today's prices, is currently the world's 18th largest official sector gold holder.

 

A decision to break away from the United Kingdom when Scotland's voters go to the polls on Sept. 18 would be followed by negotiations with London over a raft of assets, including the pound and North Sea oil.

Of course, Britain's Gordon Brown (who returned to frontline politics this year to campaign for the preservation of Scotland's 307-year old union with England) is infamous for the 'worst trade ever'...

Former British Prime Minister Gordon Brown has faced persistent criticism for disposing of almost 400 tonnes of the United Kingdom's gold via a series of auctions between 1999 and 2002, when prices were at their lowest in around 20 years.

 

Gold prices surged over the following decade, topping out in September 2011 at $1,920.30 an ounce, nearly five times their end 2002 level.

*  *  *

"priced-in"?

 

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Mon, 09/08/2014 - 19:27 | 5195650 oudinot
oudinot's picture

Gordon Brown sucks.

Mon, 09/08/2014 - 19:32 | 5195656 HeavyShadow
HeavyShadow's picture

What am I?

 

 

Some come here to sit and think,

Most come here to shit and stink,

Blow me down and strike me pink,

Gordon Brown comes here to eat and drink.

Mon, 09/08/2014 - 19:43 | 5195708 Pinto Currency
Pinto Currency's picture

 

 

Simply buy the gold 1 barrel of oil at a time.

Mon, 09/08/2014 - 19:46 | 5195723 TahoeBilly2012
TahoeBilly2012's picture

Farage wants the UK to stay together, but then he wants the UK to leave the Eurozone, so I guess you can TRY to have it boths ways. He has ben asked to simply stay our of the Scottish debate, seems smart to me.

Mon, 09/08/2014 - 20:19 | 5195845 So Close
So Close's picture

Leave the gold in Engalnd.   Leave the debt in England as well.   Borrow money at 0.0000 percent.....  buy gold on the open market and when it is at 5k an oz sell 20% percent of it to cover the debt.

Mon, 09/08/2014 - 20:33 | 5195890 Manthong
Manthong's picture

That 310 tonnes of 100 times rehypothicated fictitious gold is likely a lot closer to 31 ounces of paper by now.

Now if its’ a share of a pile of gilded tungsten they interested in...

Mon, 09/08/2014 - 21:17 | 5196036 palmereldritch
palmereldritch's picture

 Yeaahhhh...about that 'reserve' part...

Mon, 09/08/2014 - 23:55 | 5196405 UnpatrioticHoarder
UnpatrioticHoarder's picture

Scottish independence will trigger a wave of due dilligence, audits and accounting exercises which the British elite will move heaven and earth to avoid, whether it be North Sea gas reserves, gold or public finances. Accounting for leased-out gold could be a major problem

Mon, 09/08/2014 - 23:55 | 5196410 Elvis the Pelvis
Elvis the Pelvis's picture

I really miss the Glasgow Rangers.  I can't wait till they are back at the top of the premier league.  Celtic needs the competition.

Mon, 09/08/2014 - 23:04 | 5196292 julian_n
julian_n's picture

But Farage wants UK out of EU - and he knows Scotland are more pro-EU than England - so maybe a Yes vote is in his interest?

Tue, 09/09/2014 - 07:46 | 5196847 Cactus
Cactus's picture

Scotland probably likes the EU for its subsidies..

 http://www.heraldscotland.com/news/transport-environment/revealed-the-scots-farmers-made-millionaires-by-eu-subsidies-1.1026316

Article a bit old but the vested interests / big landowners still around today. 

Mon, 09/08/2014 - 20:57 | 5195978 BadDog
BadDog's picture

"Simply buy the gold 1 barrel of oil at a time."

and store it in Scotland

Mon, 09/08/2014 - 20:37 | 5195903 nqs_alpha
nqs_alpha's picture

The toilet

Mon, 09/08/2014 - 19:34 | 5195664 goldhedge
goldhedge's picture

BROWN'S BOTTOM

 

 

The TWAT

 

Mon, 09/08/2014 - 19:33 | 5195665 goldhedge
goldhedge's picture

BROWN'S BOTTOM

 

 

The TWAT

 

Mon, 09/08/2014 - 19:48 | 5195738 Cacete de Ouro
Cacete de Ouro's picture

'worst trade ever'

Best trade ever for Goldman.

The auctioned HMT gold was delivered by the Bank to the Market and then Goldman promptly turned around and delivered it to cover it's ass

Mon, 09/08/2014 - 20:47 | 5195936 Freddie
Freddie's picture

Trade?  LOL!   It was a looting or theft just like the zio's stole the Ukriane and Libya's gold.

Mon, 09/08/2014 - 19:33 | 5195666 unirealist
unirealist's picture

Good luck, Scotland, getting anything back. The Crown probably owns a copyright on the name "Scotland."

Ask Germany how trying to get their gold back is working out for them.

Mon, 09/08/2014 - 19:40 | 5195690 disabledvet
disabledvet's picture

Meh. HUGE energy producer. With Russia choking off supplies to the West (or is if the West now doing it themselves?) they're minting money.

"Might as well have the mint too."

Mon, 09/08/2014 - 20:41 | 5195915 NoDebt
NoDebt's picture

They won't get the gold, but they'll sure as hell get a big slice of Britain's national debt heaped on them as a lovely parting gift from the union.

Mon, 09/08/2014 - 22:15 | 5196181 Bastiat
Bastiat's picture

They should accept no greater percentage of the debt than the percentage of gold bullion delivered.

Mon, 09/08/2014 - 19:33 | 5195667 AdvancingTime
AdvancingTime's picture

Several complex issues surround the idea of going off on their own. If Scotland wants independence then so be it, but sorting out the political and economic ties with the rest of the UK, may be difficult. Scotland has to be allowed to stand on its own two feet without the rest of the UK financially and economically supporting it. The Euro proves that more than one sovereign country cannot easily use the same currency.

Portugal, Ireland, Greece, Italy and Spain have discovered that you cannot have full independence and share a currency. Another problem is that if the UK Government is to agreeable to a separation, will Wales and Northern Ireland move towards independence? That might encourage similar movements in Catalonia, Belgium, Northern League in Italy, Basques, Cornish, and among the Poles.  More on the issues surrounding the pound and an independent Scotland in the article below.

http://brucewilds.blogspot.com/2013/06/british-pound-and-independant-sco...

Mon, 09/08/2014 - 19:44 | 5195715 bardot63
bardot63's picture

Might also encourage Northern California, certain counties in Colorado, and Alabama, Georgia, Texas, Alaska, Wyoming, Idaho, Maryland, Tennessee, et al.  I'm all in for voting.

Mon, 09/08/2014 - 20:49 | 5195944 Freddie
Freddie's picture

If the Northern League in Italy pulls it off then I am there.  Amerikans voted for Obama and watch college ball and other shit Obam-TV like brainwashed retards.  TV, the NFL, NCAA, NBA, NBL all love Obama.  F them.

Tue, 09/09/2014 - 00:55 | 5196519 risk.averse
risk.averse's picture

If the Northern League in Italy pulls it off then I am there

errr, Freddie, you DO undertsand that the Northern League is not a sporting body? Sadly, it's more significant than that. It's an Italian political movement and party. They're infamous for exploiting the snobbery and snootiness of many Italians in the northern regions towards the those less "worthy" and less "diligent" (sound familiar??) in the southern regions of Italy. Nevermind that the North had sucked the South dry ever since the unification of Italy back in the 1800s -- to the point where most ambitious hard-working Southerners just upp'ed stakes and emigrated.

Mon, 09/08/2014 - 19:53 | 5195747 Razor_Edge
Razor_Edge's picture

No fear of Northern Ireland going for independence. It's not a viable economic entity as an independent country.

Mon, 09/08/2014 - 22:16 | 5196185 ISEEIT
ISEEIT's picture

Something along those lines seems inevitable eventually anyway, so why not get the ball rolling now?

Break-ups are inevitable and it seems to me that everything has been kept so unstable for a reason and that reason is that they've pretty much lost control. The various bullshit initiatives these sociopaths have been hatching for the last twenty five years or so have spun out of control.

I can't quite decide if these 'folks' actually want us to marvel at their obviousness and malice or to pity them for their pathetic idiocy?

Chaos is due.

Tue, 09/09/2014 - 05:07 | 5196705 Dugald
Dugald's picture

 

 

Full Independence...Och ay!....Pay our own GIRO, foch no!

Let the Puddiks keep paying that...

 

Mon, 09/08/2014 - 19:35 | 5195669 Kirk2NCC1701
Kirk2NCC1701's picture

The same people "safeguarding" Ukraine's, Iraq's and Libya's gold will be "safeguarding" Scotland's.  Dream on.

Mon, 09/08/2014 - 19:41 | 5195693 813kml
813kml's picture

The Scots just need to tell Mel Gibson that the Joos took it and he'll gladly be their William Wallace again.

Mon, 09/08/2014 - 19:57 | 5195758 TahoeBilly2012
TahoeBilly2012's picture

Might need a fighting stock of some good tequila...

Mon, 09/08/2014 - 19:36 | 5195670 CPL
CPL's picture

There's no more gold in the queen's vault than there is in a candy bar wrapper.  It's all gold wrapped tungsten. 

Thu, 09/11/2014 - 12:36 | 5206869 Hephaestus
Hephaestus's picture

Where is the latest peer to peer code to bypass the internet kill swictch.  Where can we get it?

Mon, 09/08/2014 - 19:35 | 5195672 kchrisc
kchrisc's picture

They'll have to get it back from the Rothschild banksters, the FedRes and BoE, which means the Chinese actually have it.

Good luck with getting it back. LOL

An American, not US subject.

Mon, 09/08/2014 - 19:44 | 5195712 813kml
813kml's picture

I think the Scots won't go away quietly like the Germans.  The dollar's black swan might have red hair and a bad temper, and possibly a drinking problem.

Mon, 09/08/2014 - 19:51 | 5195741 TahoeBilly2012
TahoeBilly2012's picture
  • Conferation Helvitica (Swissyland) was nothing more than small Canton's who wanted out of various kingdom's and formed mutual protection pacts, also know for sound money, gold etc.

Let's see the modern version of that. Bail on the US or EU, actually control your borders and clean up your finance, others may want to join in next to you like the old CH.

Mon, 09/08/2014 - 19:37 | 5195681 disabledvet
disabledvet's picture

310 tons? Good luck backing the pound with that "hoard." No wonder Scotland wants out. Friggin Andrew Carnegie had more gold than that (in actual gold dollar terms.)

It really is said to think "once we had empires." Now we have "the A list." Pathetic.

Mon, 09/08/2014 - 19:42 | 5195700 logicalman
logicalman's picture

The Pound could quite happily be backed by that much gold.

It would just require an adjustment in the price of the aforementioned metal.

 

Mon, 09/08/2014 - 19:39 | 5195685 logicalman
logicalman's picture

If more Scots looked at the history of the 'Act of Union' and what led up to it (Darien Scheme) the no vote would be blown out of the water.

Follow the money, folks.

 

Mon, 09/08/2014 - 19:41 | 5195703 btdt
btdt's picture

Do they have to take Gordon Brown back?

Or another export, Tony Blair?

Mon, 09/08/2014 - 19:44 | 5195711 Cognitive Dissonance
Cognitive Dissonance's picture

"You'll have to pry your Gold from my cold dead hands." - David Cameron

Mon, 09/08/2014 - 19:46 | 5195722 813kml
813kml's picture

A tempting offer.

Mon, 09/08/2014 - 20:52 | 5195957 logicalman
logicalman's picture

Makes me think of MIB.

 

Mon, 09/08/2014 - 22:03 | 5196142 zen0
zen0's picture

Okay, I junk

Mon, 09/08/2014 - 22:06 | 5196153 zen0
zen0's picture

My last comment was amputated by the site. I quit now.

Tue, 09/09/2014 - 05:12 | 5196711 Dugald
Dugald's picture

"You'll have to pry your Gold from my cold dead hands." - David Cameron

Och! how sorely you tempt us! And don't think it would nay be a pleasure....

Mon, 09/08/2014 - 19:47 | 5195725 stant
stant's picture

310 tons ! There's whore houses in India with more than that

Mon, 09/08/2014 - 20:01 | 5195733 alexcojones
alexcojones's picture

If  Scotland votes for independance,

Will they lift sanctions vs Russia? Then join BRICS(S).

Take a piss out of the Brits, EU, ZioCons and Just Do It-!

Mon, 09/08/2014 - 19:48 | 5195735 skbull44
skbull44's picture

Canadian government in the '90s did the exact same thing as Brown and sold almost all our gold reserves (500.8 tons in 1989) which now sit at a paltry 3.4 tons. But, hey, we've got lots of US fiat currency in reserve that you can at least burn to keep warm during our frigid winters. See this: http://canadianawareness.org/2012/11/the-story-of-canadas-gold/

 

http://olduvai.ca

Mon, 09/08/2014 - 20:50 | 5195945 Rock On Roger
Rock On Roger's picture

Canada did that at the Empire's behest

To drop the oil price to $10

To screw Russia

Which is what happened

Then Yeltsin appointed Putin

As leader of Russia

And now Putin is

Screwing the Empire.

Mon, 09/08/2014 - 20:54 | 5195968 logicalman
logicalman's picture

Canada still has some.

It just hasn't been dug up yet.

Can't say that for many places.

Mon, 09/08/2014 - 19:49 | 5195740 robertocarlos
robertocarlos's picture

They would never give up the gold. They will pay Scotland in dollars or take it off Scotland's share of the debt.

Mon, 09/08/2014 - 19:54 | 5195751 ebworthen
ebworthen's picture

Yes, but what will the Queen say?

They should be running "Braveheart" in Scotland every night until the vote.

Mon, 09/08/2014 - 20:02 | 5195770 Son of Captain Nemo
Son of Captain Nemo's picture

"."

Well done eb. 

Hope that heartless bitch and her husband who's wish is to have a second life as a "deadly virus" and a first son who woo's his mistress by telling her "he wants to be a tampon in her"... Will loose huge on that separation.

Fucking freaks!

Mon, 09/08/2014 - 20:43 | 5195928 FieldingMellish
FieldingMellish's picture

Since Scotland will remain within the monarchy, she loses nothing. If they eventually vote to become a republic, she loses a couple drafty old mansions. Given that uppity Australia has yet to become a republic, I would save my breath if I were you.

Tue, 09/09/2014 - 01:47 | 5196574 Cactus
Cactus's picture

I thought Balmoral  & Glamis castles were owned outright by the Royal family, Balmoral being bought by Prince Albert and Glamis by the Lyon family.

I don't think Scotland will win freedom either, backsides are being kicked and levers of power in full throttle now. 

Mon, 09/08/2014 - 20:56 | 5195979 logicalman
logicalman's picture

Reminds me of an old joke about a drumk staggering down the street and bumps into a very well endowed fairy (the old school, female type - for clarity).

She says she can grant him a wish.

His wish...

I'd love to get between your legs!

She turned him into a tampon.

 

Mon, 09/08/2014 - 20:34 | 5195899 JohnFrodo
JohnFrodo's picture

Outlander is more effective and relevant

Mon, 09/08/2014 - 20:03 | 5195785 Kaiser Sousa
Kaiser Sousa's picture

Britain dosent have any more fucking Gold...
fucking assholes...
scared to death of Scotland sayin' "fuck off..."
too bad...its a comin'.

Mon, 09/08/2014 - 20:02 | 5195786 David Wooten
David Wooten's picture

Britain's gold reserves are pitiful.  Tiny Lebanon has almost as many.

Mon, 09/08/2014 - 20:04 | 5195791 The Count
The Count's picture

I do not think that the NWO, headquartered in the City of London (which is actually NOT a part of London), will quetly look on as Scotland may just flip England the bird and prove that you do not need them NOR the EU to survive.

Mon, 09/08/2014 - 20:19 | 5195798 Cacete de Ouro
Cacete de Ouro's picture

Salmon: Sae kin we hae oor share o' th' gowd noo?

Cameron: Sorry old bean, didn't quite catch that. Say again.

Salmon: Ah said, kin ye deliver oor gowd up tae auld reekie neist week?

Cameron: Ah yes, the gold. To Edinburgh? Well, I'm afraid not, your portion is currently residing in New York. That's just the way it was divvied out by Georgie boy, or so he tells me.

Salmon: Howfur in th' name o' uilleam wallace dae we git it back fae nuw york toun? we've na ships or planes noo

Cameron: Well then, you should have thought about that before you voted to get rid of the ships and planes. I'm afraid we can't help you on that one old boy.

Salmon: Git yer pasty sassenach prune coupon back tae london afore ah git ye locke in th' tower!

Cameron: Sorry again old chap, don't quite follow. Never mind, tally ho for now. Don't call us, we'll call you about the oil in a few weeks. I'm sure MI5 will find a few interesting videos in their archives. Or is it MI6 now? Splendid, I'm off to ride an unpredictable red headed filly. Must dash.

Tue, 09/09/2014 - 00:39 | 5196487 Obamanism
Obamanism's picture

Alex Salmon: Crack open a bottle of Buckfast (tonic wine) and release the Dogs of War. Then get me Vlad Mc Putin on the Phone. "Hi Vlad, still looking for somewhere to park those Missiles, laddie, I have an excellent place near Gretna Green"

Mon, 09/08/2014 - 20:08 | 5195799 Godisanhftbot
Godisanhftbot's picture

 Many bitcon BaGholDers right here at 460's

 

 You can cry on the shoulder of all the G0lD bagmeisters.

 

 There are many of both right here on ZH

Mon, 09/08/2014 - 20:16 | 5195833 NYPoke
NYPoke's picture

I remember those auctions.  I really wish I had understood their implications at the time.

Mon, 09/08/2014 - 20:34 | 5195880 earleflorida
earleflorida's picture

In 2004 L.M. Rothschild and AIG gave up their seats on the LMBA *(LGMF [Gold Fix* Ltd.)! Why? Brown had done Evelyn his tenured deed?

After the 911 incident, the 'ALL` Gold Reserves' were  transfered to Scotia-Mocatta in Canada?? Another 'Y' 2

http://en.wikipedia.org/wiki/Mocatta

Mon, 09/08/2014 - 20:41 | 5195916 FieldingMellish
FieldingMellish's picture

Germany wants its gold too. Good luck with that.

Mon, 09/08/2014 - 20:43 | 5195922 The_Prisoner
The_Prisoner's picture

What gold?

Mon, 09/08/2014 - 20:43 | 5195924 NoWayJose
NoWayJose's picture

Gold = FREEEEEDOM!!!

Mon, 09/08/2014 - 21:00 | 5195987 logicalman
logicalman's picture

Gold = I hope to fuck it never gets that bad.

Still a bad plan to have none.

Mon, 09/08/2014 - 21:22 | 5196049 Conax
Conax's picture

310 tonnes.

The entire UK claims 310 tonnes. That's counting Kate's jewelry.

OK, Scotland should get a third. 103.3333333333...33333.333 tonnes.

Cough it up, Dave.  Moose, Rocco, help Dave load it on the truck, will ya?

Mon, 09/08/2014 - 22:30 | 5196213 tony wilson
tony wilson's picture

brown sold the british peoples gold to his masonic scottish rite buddies the rothschild clan.

he speaks for paedophiles and rapists so the rothschild position is clear stay in jock.

ex scottish head of nato george robinson had a meat wrangler mate called thomas hamilton he provided kids for many scottish rite.

he later went on a shooting rampage that changed the gun laws forever.

gordon brown needs to be in prison for rape and treason and piracy fucking mental scotch cunt.

Mon, 09/08/2014 - 23:08 | 5196302 teslaberry
teslaberry's picture

FREEEEEDOM!. the spirit of wallace lives!!!!. 

Tue, 09/09/2014 - 00:32 | 5196477 Obamanism
Obamanism's picture

As we speak Charlie Croacker is buy 3 minis ,a couple of Jags a big bus and Planning the Scotland job. 103 tonnes of Gold through London rush hour......This is the self preservation society......

Tue, 09/09/2014 - 04:00 | 5196679 justmy2cents
justmy2cents's picture

The Scots make me laugh they are crying out for independence only for Alex Salmond to apply for new EU membership which he probably won't negotiate the terms pretty well just to get shafted by Brussels.

Or maybe he'll decide to integrate Scotland into the Russian Federation after all Obama said something like "Spheres of influence are no longer relevant".

Either way bullish on Scotland I am definitely not and I truly beleive if the Scots vote yes Alex Salmond will become the most hated man in Scotland in a few years.

Tue, 09/09/2014 - 07:20 | 5196817 esum
esum's picture

in the ussa THE WRONG SIDE WON THE CIVIL WAR....... state rights vs big brother..... 

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