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George Soros Warns "This Is The Worst Possible Time" For Scottish Independence

Tyler Durden's picture




 

Authored by George Soros, originally posted Op-Ed at The FT,

This is the worst possible time for Britain to consider leaving the EU – or for Scotland to break with Britain.

The EU is an unfinished project of European states that have sacrificed part of their sovereignty to form an ever-closer union based on shared values and ideals. Those shared values are under attack on multiple fronts. Russia’s undeclared war against Ukraine is perhaps the most immediate example but it is by no means the only one. Resurgent nationalism and illiberal democracy are on the rise within Europe, at its borders and around the globe.

Since world war two the European powers, along with the US, have been the main supporters of the prevailing international order. Yet, in recent years, overwhelmed by the euro crisis, Europe has turned inward, diminishing its ability to play a forceful role in international affairs.

To make matters worse, the US has done the same, if for different reasons. Their preoccupation with domestic matters has created a vacuum that ambitious regional powers have sought to fill.

The resulting breakdown of international governance has given rise to a plethora of unresolved crises around the globe. The breakdown is most acute in the Middle East. The sudden emergence of the Islamic State in Iraq and the Levant, or Isis, provides the most gruesome example of how far it can go and how much human suffering it can cause.

With the Russian invasion of Ukraine, military conflict has spread to Europe. Two radically different forms of government are competing for ascendancy. The EU stands for principles of liberal democracy, international governance and the rule of law. In Russia, President Vladimir Putin maintains the outward appearance of democracy by exploiting a narrative of ethnic and religious nationalism to generate popular support for his corrupt, authoritarian regime.

As a major power and global financial centre, Britain ought to be centrally involved in crafting a European response to this threat. But like the US and the EU itself, Britain has also been distracted by internal matters. Conservative Prime Minister David Cameron has been persuaded by anti-European zeal – not least within his own party – to put UK membership in the EU to a vote in 2017. A poll on Scottish independence is only days away. Just when Britain should be confronting grave threats to its way of life, it is preoccupied with divorce of one type or another.

Divorce is always messy. A vote for Scottish independence would weaken – in political and economic terms – both a truncated UK and Scotland. An independent Scotland would be financially unstable, especially if threats to renege on debt repayments were carried through.

For Scotland and the rest of the UK to enter into a currency union without a political union, after the euro crisis has demonstrated all the pitfalls, would be a retrograde step that neither side should contemplate. Yet without it, an independent Scotland could not benefit from the low interest rates that a strong pound has brought. These considerations ought to outweigh whatever possible benefits independence might bring.

Yes, there are significant policy differences between Scotland and the rest of the UK. There is a more left-leaning approach to many issues, notably education, north of the border. But Scotland would be better placed to attain its political goals as part of a united Britain that is part of the EU.

The same applies to a British exit from Europe. Policy differences can be mediated. A divorce would weaken the UK. Those who call for separation seem to have forgotten that Britain currently enjoys the best of all possible worlds. Being part of the EU but not part of the euro allows the UK to enjoy the trading benefits without the currency constraints.

Furthermore, Britain has always played a balancing role between hostile blocs. Its absence would greatly diminish the weight of the EU in the world.

The EU has proved to be the best guarantor of peace and human security since the end of the second world war. The importance of preserving the shared values underpinning a whole way of life far outweigh any possible advantages of independence. The difficult times we are facing call for increased unity, not divorce.

Only if Britain fails to resolve its differences with the EU, and if the pro-European Scots (having voted to remain within the UK) thus find themselves unwillingly excluded from Europe in 2017, would there be just cause for Scots to call for a new referendum. If it comes to that, Scotland will be in a different position – one that could legitimise a split.

But to vote for independence from the UK now would be to prematurely surrender Scottish leverage in London, and Britain’s leverage in the world.

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Thu, 09/11/2014 - 09:41 | 5205942 One And Only
One And Only's picture

When the fuck is Soros going to fucking die already. God damnit.

Thu, 09/11/2014 - 09:42 | 5205950 Keyser
Keyser's picture

If Soros is against it, then it must be the right thing to do...

Thu, 09/11/2014 - 09:44 | 5205959 Haus-Targaryen
Haus-Targaryen's picture

this 

Thu, 09/11/2014 - 09:47 | 5205977 Headbanger
Headbanger's picture

Yeah what's wrong  George?

NWO not going as planned?

Thu, 09/11/2014 - 09:51 | 5206003 jaap
jaap's picture

normally the lizzard is all in on support to independence groups

Thu, 09/11/2014 - 09:51 | 5206014 Manthong
Manthong's picture

It was the worst of times.. it was the best of times…

Thu, 09/11/2014 - 09:56 | 5206044 bigdumbnugly
bigdumbnugly's picture

 


"This Is The Worst Possible Time" For Scottish Independence"

 

 

so by butt soros's logic i guess sometimes independence is not good?

Thu, 09/11/2014 - 09:59 | 5206053 strannick
strannick's picture

Soros the great contrarian indicator for Democracy and the 99.9 percent. 

Thu, 09/11/2014 - 10:13 | 5206118 Pinto Currency
Pinto Currency's picture

 

The worst possible time for whom?

Petrogold will sound very good to the Scots.

They'll charge 50,000 GBP to play St. Andrews.

Thu, 09/11/2014 - 10:15 | 5206146 SafelyGraze
SafelyGraze's picture

an ever WORSER time for scottish independence will be after the gazprom line is routed there

kaliningrad to denmark, 400mi

denmark to scotland, 400mi

Thu, 09/11/2014 - 10:19 | 5206161 overmedicatedun...
overmedicatedundersexed's picture

so let me get this strait, soros, low interest rates might go away if scots are independent, and that's bad per soros..and outweights any benefits of independence, sorry but that logic fails me. real interest rates might just be the best thing for every country right now.

Thu, 09/11/2014 - 10:22 | 5206172 Pinto Currency
Pinto Currency's picture

 

 

Real interest rates will force credit market restructuring which is exactly what is needed.

But its not what Soros wants.

Thu, 09/11/2014 - 10:24 | 5206184 clooney_art
clooney_art's picture

As long as the US stock market keeps going up, up and up, I don't care who declares independence, why, when and what.

Thu, 09/11/2014 - 10:30 | 5206207 Dr Strangemember
Dr Strangemember's picture

Why can't I vote for a piece of the US to be free????  Can you imagine how awesome it would be to not have the festering sore that is now DC as the national capitol???!!!!  

Thu, 09/11/2014 - 10:33 | 5206221 JRobby
JRobby's picture

Be patient. This event is a future probability if more successions like Scotland keep coming up in the future which I hope will be the case.

Could be 20 or 30 years though.

 

Thu, 09/11/2014 - 10:41 | 5206247 SoilMyselfRotten
SoilMyselfRotten's picture

'Give me control of a nations stock market and i care not who makes its laws'

...or something like that

Thu, 09/11/2014 - 10:43 | 5206263 Pinto Currency
Pinto Currency's picture

 

 

Give me control of my oil reserves and I care not if you try to achieve escape velocity with your currency.

Thu, 09/11/2014 - 10:51 | 5206302 Anusocracy
Anusocracy's picture

Any governmental unit that is broken down into smaller units is a loss for the elites.

The drive for larger assenblages is a drive for more control and wealth.

Thu, 09/11/2014 - 11:06 | 5206348 Leonardo Fibonacci2
Leonardo Fibonacci2's picture

How old is Soros? Seriously how old is he cause he was around during WW1.  I think this fucker is a vampire that gets "new blood" transfusions from virgins every month.  Didnt his ex-girlfriend punch him in the eye not too long ago, she is like 25 years old & he is at least 89 years old.  Vampire fuck. 

Thu, 09/11/2014 - 11:06 | 5206358 Publicus
Publicus's picture

Soros must be on the losing side of the trade,

Thu, 09/11/2014 - 11:16 | 5206405 Thomas
Thomas's picture

I am sensing Zerohedgers do not really like George. 

Thu, 09/11/2014 - 11:30 | 5206484 Ghordius
Ghordius's picture

understatement of the year. yet I am also sensing that many Zerohedgers think that whatever their enemies say is false, which casts a very bad light on them

Thu, 09/11/2014 - 11:49 | 5206615 TBT or not TBT
TBT or not TBT's picture

Ghordius likes his European superstate Gordian Knot just like it is, inextricable, inexplicable, inevitable.   Sorry Gordo, a big black swan wielding a sword will fall upon it, and it will be even more ugly shredded than it is now in its fetid locked up state.   Think Yugoslavia after too much Tito for too long, or the remnants of the Ottoman empire, or "Iraq" after Saddam and the USA leaving, or Libya after ghaddafi, or Egypt after Mubarak, or Europe after Rome.  Or Europe for nearly the entirety of history.   Central planning creates  bubbles of apparent stability and order and progress, that pop catastrophically every time.  

Thu, 09/11/2014 - 12:09 | 5206639 Divided States ...
Divided States of America's picture

The more powerful the Jew, the uglier they age...Look at Icahn, Soros, Greedspan, Yellen....holy fuckin mother of lord, its like watching the orcs from the lord of the rings

I am sure Soros is probably making a pile of money regardless of what happens to Scotland staying or leaving. These mofos NEED an event to MAKE money, regardless of the outcome. The Zionist faction DONT care who they fuck over if they can profit off WW3. if they can, they will make sure it becomes a reality.

Thu, 09/11/2014 - 12:02 | 5206665 Ghordius
Ghordius's picture

Hello? The article is about pro-EU Scotland voting about leaving anti-EU England (and Wales/Northern Ireland)

meanwhile, nothing in this article is about central planning, and we don't have a superstate in Europe, for sure not now

so what is your point, exactly? what is white, what is black, here? I agree with 50% of what Soros is writing, here

Thu, 09/11/2014 - 12:10 | 5206733 Save_America1st
Save_America1st's picture

FUCK YOU, GEORGE (THE NAZI COLLABORATOR AND TRAITOR OF HIS PEOPLE AND ALL HUMANITY) SOROS!!!!

FUCKING SCUMBAG!!! 

Thu, 09/11/2014 - 13:20 | 5207091 Newsboy
Newsboy's picture

I'm feeling validated by being exactly opposite Georgy-Porgy on every point he makes.

Thu, 09/11/2014 - 12:42 | 5206896 TBT or not TBT
TBT or not TBT's picture

So Soros sounds reasonable eh Gordo?  Obama sounded reasonable, any, even virtuous.    It's what Alinsky recommends.  It's what Machiavelli recommends.   It's how LUCIFER rolls.  Over humanity.  

Thu, 09/11/2014 - 11:53 | 5206626 TBT or not TBT
TBT or not TBT's picture

.

Thu, 09/11/2014 - 12:10 | 5206740 Mitzibitzi
Mitzibitzi's picture

Really? Ya think?

Fucking old revenant that he is. Should be shackled to Kissinger, Zbig and Cheney and dropped in the Marianas trench with a tactical nuke for company.

Thu, 09/11/2014 - 11:38 | 5206532 froze25
froze25's picture

He is 84, and no joke many of the "elite" do get blood infusions from young donors.  It is a proven means to slow down aging.  The Queen of England is a prime example of success with the treatment.

Thu, 09/11/2014 - 12:08 | 5206721 quasimodo
quasimodo's picture

Nice to know my blood donations every two months are put to good use then.

Thu, 09/11/2014 - 11:12 | 5206388 Falconsixone
Falconsixone's picture

Unless they're going for the hunger games plan?

Thu, 09/11/2014 - 11:35 | 5206498 froze25
froze25's picture

Your best bet is the State of New Hampshire or Maine. Texas is close but they need a Governor with backbone.

Thu, 09/11/2014 - 12:19 | 5206781 Cruel Aid
Cruel Aid's picture

tx stay away, were full up... huge bubble

Thu, 09/11/2014 - 11:38 | 5206530 Stuck on Zero
Stuck on Zero's picture

DC could be turned into a place to send all the scoundrels, criminals, perverts, con-men, grifters, and prevaricators.  Wait! It already is.

Thu, 09/11/2014 - 11:47 | 5206600 americanspirit
americanspirit's picture

Anyone can start a secession petition at whitehouse.gov  give it a try and see what has happened to the first amendment

 

Thu, 09/11/2014 - 13:19 | 5207095 migra
migra's picture

Texas is trying. If they get it, I'll be migrating asap.

Thu, 09/11/2014 - 15:41 | 5207914 gatorboat
gatorboat's picture

Texas isn't doing squat about seceding, nor is any other state.  No state legislature has the guts to even think about it. 

Thu, 09/11/2014 - 16:49 | 5208228 Captain Obvious.
Captain Obvious.'s picture

Encourage Washington DC to secede.

Thu, 09/11/2014 - 12:42 | 5206903 putaipan
putaipan's picture

surrender the leverage !!!

Thu, 09/11/2014 - 10:27 | 5206181 fleur de lis
fleur de lis's picture

Georgi Scwartz aka George Soros is a professional curency speculator and never gave a second thought to all the crashed systems and destroyed lives so long as he made a profit. He funds independence (read anarchist) groups everywhere. Now all of a sudden he's worried about Scottish independence. He probably bet the house on a NO vote so of course independence would put a crimp in his plans. He's wanted by the Russians, wouldn't it be nice if his plane got diverted into Russian airspace. That would shut him up. 

Thu, 09/11/2014 - 10:46 | 5206277 rehypothecator
rehypothecator's picture

In other words, it's the worst possible time for his portfolio. He doesn't give a rat's ass about self-determination, which this is but a baby-step towards.  

Thu, 09/11/2014 - 10:54 | 5206311 Anusocracy
Anusocracy's picture

Anarchist groups?

So he has created places throughout the world without government?

I didn't know that. I'll have to move to one of them.

Thu, 09/11/2014 - 11:00 | 5206334 MeMadMax
MeMadMax's picture

Shut up you twat....

Thu, 09/11/2014 - 11:09 | 5206370 Bunghole
Bunghole's picture

Twat is too nice.

Thu, 09/11/2014 - 14:16 | 5207421 Matt
Matt's picture

Nobody said any of those groups ever succeeded.

Thu, 09/11/2014 - 10:14 | 5206120 philipat
philipat's picture

Poor old George. Having poured Billions into NWO causes, Tides Foundation etc, etc., he must be feeling quite despondent that the Plebs aren't playing along? Are they all so fucking stupid that they cannot understand his superior intellect?

Listen George, the peoples of Europe just want to be left alone with Sovereign States within a Free Trade Area. They DON'T want a "United States of Europe" and are sick and tired of being screwed around by corrupt, unelected, "Big-Government" bureaucrats in Brussels. As in, "We the people", George. SO please, George, do us all a favour and fuck off.....you have enough money already?

Thu, 09/11/2014 - 11:41 | 5206551 Bag Of Meat
Bag Of Meat's picture

Well there can be another view on this matter... What if The breakdown of europe in to small states (with the catalonia vote coming) actually benefits NWO causes? Easier to manipulate, more options for geostrategic causes... just a thought

Thu, 09/11/2014 - 10:26 | 5206141 BuddyEffed
BuddyEffed's picture

Economic contraction leads to friction which leads to further economic contraction which leads to further friction.  Now, as an electrical engineer, this looks alarmingly like a positive feedback loop.  Status Quo is on high alert.

TPTB should be more careful with their sanctionings of each other.  Isn't that much like a friction in this case?

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