September 17, 2021

GIL

Daily Global New Media

Salmond Destroys Scottish Independence

1 min read

33 thoughts on “Salmond Destroys Scottish Independence

  1. Just for your peoples information, the truth about the last vote for independence in Scotland did not win was your prime minister at the time came up to Scotland and promised the Scottish people he would not take them out off the eu, again facts, please do your research, I support my countries independence however removing London and swapping it for Brussels is in fact not Independence in any shape or form. there is so much more facts you should personally check out, thank you, maybe Lacey could do the fact checking or get one off your smart supporters to do it for you, just an idea.

  2. please check you facts Mahyar, read your TV licence it tells you if you do not watch or record live TV you do not require a TV licence fact. think about it if I have a big screen TV for gaming and watching films on Amazon prime and I am subscribed to say Netflix I do not require a licence so it is not based on whether you have a TV or not it is all about if you watch or record live programs. this is why I do not support your channel, get the facts if you are not sure tell your people then find out the facts then get back to them.

  3. You do not need a licence if you have a TV. You only need a licence it you watch live broadcasts and BBC.iplayer. You can stream Itv hub, Amazon Prime, Netflix and other streaming channels without a licence.

  4. In the 17th Century, they were called malcontents – people with an innate tendency to gripe (about anything).

    In 21st Century, they are known as lefties, social justice warriors, feminists, and Scots Nats !!

  5. I appreciate this channel might money to exist, nowadays just seems to spend more time trying to flog stuff and promote donations.
    Moving on and wishing you all the best.

  6. If he made his platform to work with the rest of the UK to sort out the mess Scotland is in and said he was against independence he would get a lot more votes and maybe get rid of the useless S.N.P

  7. I understand a single large UK pension fund, M&G holds the entire £370 mm Lagoon Park financing, arranged by Greensill and marketed by Morgan Stanley, of the GFC Alliance’s purchase of the Lochaber Aluminium Smelter and Hydro Power station. Initially it only bought 50% of the deal, but then acquired the rest when GAM sold its portion. You may recall GAM suffered “difficulties” when a fund manager was suspended over transactions connected to Greensill, which triggered a massive run from investors demanding their money back.

    The investment management team at M&G will not be unconcerned about the deal. But not because Gupta will default – but because the deal is guaranteed by the Scottish Government. They will be worried about the credit outlook for Scottish debt rated Aa3 as part of the UK if the SNP succeeds in a second independence referendum.

    A heavily redacted report by EY, (and I mean practically everything is blacklined – do read the overview of the transaction on page 7), on the Scottish Guarantee says the deal made commercial sense, but makes clear that if the smelter failed it becomes a liability of the Scottish Government.

    The Scottish Guarantee is extraordinary – it is granted in favour of SIMEC (Sanjeev Gupta’s father’s business in Singapore) in respect of obligation by Liberty (part of GFC) to pay for energy from the hydro scheme. In the event of a default, the Scots will pay. Incidentally, I further understand Scotland has the right to borrow or guarantee £2 bln, according to my sources in London.

    The obvious question to ask is why did Scotland guarantee the deal? Whoever thought Nicola Sturgeon and former UK Premier and Greensill employee David Cameron could be so aligned?

    Gupta’s promised wheel factory and jobs never materialised. The Scot’s liability to pay isn’t just the £370mm principal amount, it’s also a further 25 years of interest payments – say £500 mm in total. Well done Scotland – 25% of its borrowing limit blown already – the SNP really are financial geniuses.  The security package backing the guarantee? A smelter in Lochaber non one except the Gupta’s were interested in.

    The really interesting thing about this Lagoon Park deal is how liquid these bonds are – despite the fact I suspect M&G is the only holder. I am told by an external investor he believes these bonds trade regularly. According to Bloomberg, there are regular prices posted. I wonder.. could it be that brokers supportive of the deal are posting imaginary prices between themselves?

    It would a crying shame if it turned out that wholly illiquid bonds were being painted as liquid. I mean, what would the regulators think of a fund holding illiquid bonds that were described as liquid so they appear eligible as liquid UCITS eligible investments? A shade of Woodford? Naughty – if it was happening…. Ahem..

    I am absolutely sure all these junk bonds and corporate debt deals held by fund managers will prove illiquid as set concrete if/when the market’s day of reckoning arrives…

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