Should the Scotland vote worry anyone ?

How many foreigners are working on the oil rigs? As far as I can see, Scottish or not, they have a vote. The same with foreign workers in NHS or students, resident in Scotland on Thursday, even though they plan to fly out on the weekend.
I'm fairly certain the basis for eligibility is a little more substantial than just 'feet are on Scottish soil on day of referendum". The rather fluid concept of 'ordinarily resident' will be applied and I imagine a minimum period (3 years?) also applies. It's basically whatever entitles you to vote, plus open to 16 and 17 year olds. So those kids can vote to get their country independent, but can't vote for anything else for another two years.

Might as well open it up to the entire 5+ group. That would swell the ranks of the SNP.
 
I am all in favour of cultural and artistic nationalism but political nationalism stinks of elitism, meanness, anti anyone else, fascism etc.

The first to get their expulsion orders from SNP's paradise would be the latest immigrants, especially coloured ones.
 
Do you think all the possible outcomes have been factored in?

Do you think it's possible that all the possible outcomes have been factored in?

If you don't think this is possible do you think it's possible to determine what the potential outcomes will be and what impact this will have?

If you don't have any idea what the outcome will be or what the impact will be of any of the possible outcomes do you think you might not be alone in not knowing any of this?

Do you think if the latter is the case that the set of those who don't know is sufficient for you to take a view that volatility will have been underestimated?

And if that might me the case, do you think volatility could be considered to be cheap? And ipso facto, worth buying?

So what's your plan?
 
I am all in favour of cultural and artistic nationalism but political nationalism stinks of elitism, meanness, anti anyone else, fascism etc.

The first to get their expulsion orders from SNP's paradise would be the latest immigrants, especially coloured ones.

Very well said !
The "immigrants" to be made to feel unwelcome will be the English.
 
Very well said !
The "immigrants" to be made to feel unwelcome will be the English.

The English have always been made unwelcome in Scotland by a minority, but that's not the essence of this event really. What the Scots will be voting for in no more Tory governments in Westminster meddling in Scottish affairs. I doubt the Scots are alone in feeling this way as there are probably as many Welsh, Northern Irish and English feeling exactly the same way.

The humour, and there is so much of it in this, is that if they get their way, they'll have nationalist (labour) parties for ever while almost certainly consigning the rest of the UK to an equally long eternity of Tory governments. With more than 15% of current Labour MPs being holding seats north of the border, Labour in the UK will have little to no chance of getting a majority this side of our lifetimes.
 
Foreign reactions to the referendum

A vote in favour of Scottish independence would hurt Americans in five important ways.

First, a ‘Yes’ vote would immediately deliver a shattering blow to the political and economic stability of a crucial American ally and global financial power. The day after a ‘Yes’ vote, the British political system would be plunged into a protracted, self-involved constitutional crisis. Britain’s ability to act effectively would be gravely impaired on every issue: ISIS, Ukraine, the weak economic recovery in the European Union.

Second, a ‘Yes’ vote would lead to a longer-term decline in Britain’s contribution to global security. The Scottish separatists have a 30-year history of hostility toward NATO. They abruptly reversed their position on the military alliance in 2012 to reassure wavering middle-of-the-road voters. But the sincerity of this referendum-eve conversion is doubtful. Even if it was authentic, the SNP’s continuing insistence on a nuclear weapons-free policy would lock U.S. and U.K. forces out of Scotland’s naval bases. The SNP’s instincts are often anti-American and pro-anybody-on-the-other-side of any quarrel with the United States, from Vladimir Putin to Hamas.

Third, a ‘Yes’ vote would embitter English politics and empower those who wish to quit the European Union. Since the 1990s, the central British government has attempted to appease Scottish separatism. Tony Blair devolved powers; David Cameron agreed that the U.K. would recognize a Scottish independence vote as binding. In the wake of a ‘Yes’ vote, however, English public opinion would harden. The bargaining over public debt, ownership of North Sea oil, and other contentious issues would be ferocious—and those English politicians who urge a tougher line on these matters would likely dominate the debate. Such politicians also tend to be Euro-skeptics. The United States has traditionally preferred an EU that includes the U.K., both because a cross-Channel common market makes it easier for U.S. businesses to conduct commerce and because U.K. leaders—from the Conservative and Labour parties alike—have historically pushed the EU in a more free-market direction.

Fourth, a ‘Yes’ vote would aggravate the paralysis afflicting the European Union. An independent Scotland would seek admission to the EU as a 29th member state. A club of so many member states cannot function by consensus, and the EU has yet to develop more effective decision-making methods. The result, much of the time, is that no decision is made at all—a dynamic that Vladimir Putin depended on when he picked a fight with a multinational entity that is notionally much richer and stronger than Russia is.

Fifth, a ‘Yes’ vote would only further encourage German domination of the European Union. The EU originated as a bloc of three large countries (France, Italy, and West Germany) and three smaller ones (Belgium, Luxembourg, and the Netherlands). West Germany ranked as first among equals, but France and Italy could make their voices heard too. Today, an expanded EU contains 19 members that are less populous than Belgium and one—Malta—that is even smaller than Luxembourg. Meanwhile, united Germany looms bigger and richer than ever, accounting for more than 20 percent of the EU’s gross domestic product. Scotland as a 29th member nation (and, who knows, perhaps Catalonia as a 30th), along with the emergence of a weakened United Kingdom, would push the EU in an even more lopsided direction: The median EU member by population would be Austria—a country of 8.5 million that sells 30 percent of its exports to Germany.

Germany is an important American ally, and there is nothing sinister about the role it’s currently playing in Europe. But Germany’s interests do not align precisely with those of the United States or other EU member states. Germany usually favours a more deflationary monetary policy and a more accommodating policy toward Russia than most U.S. administrations and many EU members would prefer. As the ranks of the small, Germany-beholden states of Europe proliferate, the EU is evolving away from its historic role as a restraint on German dominance within Europe—and toward a disturbing new role as a multiplier of that dominance.

In February 1995, Bill Clinton travelled to Ottawa to speak in favour of Canadian unity. “In a world darkened by ethnic conflicts that tear nations apart, Canada stands as a model of how people of different cultures can live and work together in peace, prosperity, and mutual respect,” Clinton told the Canadian Parliament. The U.S. president was a more popular figure in Quebec than that province’s own politicians, and his words likely contributed to the narrow margin of victory of the ‘No’ side in Quebec’s second and final secession referendum later that year. President Obama has played no equivalent role in the debate over the survival of America’s close ally, the United Kingdom. If the ‘Yes’ vote prevails on September 18, Obama’s omission should be remembered in the postmortem assignment of blame for a potential disaster for the peoples of Britain, Europe, and the Western alliance.
 
Pat, ya really ought to quote sour source. Was it The Atlantic by any chance? Don't get me wrong, it was a good piece alright.
 
Ah ok, I know very little about options, so forgive my ignorance when I ask if you are using options for that?

Options are not the only fruit. Sure you could construct an option spread to capture an increase, or expected increase in volatility, but ya wouldn't want to be doing that right now, the moment has passed. You'd probably be better off playing the likely reversion to lower IV and want to short vega on the expectation of a decrease in volatility after the event. That's got as many flavours as there are days ion the year, but the most obvious would be a diagonal reverse calendar spread getting to a delta neutral position by first neutralising gamma.

A simpler method in my view is simply identifying which derivatives have been over-priced (in your view) because of the temporary ramp in IV because of the uncertainty assigned to the referendum and sell those (naked or hedged) on the basis the pricing will come into line pretty sharply afterwards. Whatever the result - the uncertainly will be gone and with it, the premium on premium which you will already have in your pocket.
 
hoots mon today is the day


hoots mon today is the day

hoots mon today is the day
 
Just been out to stock up on Scott's Porridge Oats and single malt whiskies, before Salmond embargoes their sale to us evil English exploiters of the downtrodden, martyred Scottish masses.
I wanted to buy him an engraved dirk for self-use, but I've left it too late.
 
Dr. No-Show: Sean Connery may not campaign in Scotland referendum over tax fears

http://blogs.marketwatch.com/thetel...t-vote-in-scotland-referendum-over-tax-fears/

This is not funny at all. Makes a mockery of democracy. They may as well be run by a banana republic governed from the Bahamas...
Well the whole thing is making a mockery of democracy. The Scots already have the same amount of democracy as the rest of the UK. But they want a different democracy, one that is more democratic for just them. Why not go the next step and have a referendum on whether Scotland should be Catholic or Protestant. Make it even more democratic - for the winners.
 
If the Scots get independence, I want independence for London and its surroundings as demarcated by the M25. We generate a hugely disproportionate amount of GDP and I'm tired of it being taken away from us to be handed over to the outside M25-ers.......who take the money then moan that it's us who generate it !!! INDEPENDENCE FOR THE LONDON CONURBATION !!!
 
If the Scots get independence, I want independence for London and its surroundings as demarcated by the M25. We generate a hugely disproportionate amount of GDP and I'm tired of it being taken away from us to be handed over to the outside M25-ers.......who take the money then moan that it's us who generate it !!! INDEPENDENCE FOR THE LONDON CONURBATION !!!
Yes scumbags! Pay homage to your debt creation masters! :LOL:
 
If the Scots get independence, I want independence for London and its surroundings as demarcated by the M25. We generate a hugely disproportionate amount of GDP and I'm tired of it being taken away from us to be handed over to the outside M25-ers.......who take the money then moan that it's us who generate it !!! INDEPENDENCE FOR THE LONDON CONURBATION !!!

Sure thing, and you can take all the £Bn's of debt you generated with you. :p
 
If the Scots get independence, I want independence for London and its surroundings as demarcated by the M25. We generate a hugely disproportionate amount of GDP and I'm tired of it being taken away from us to be handed over to the outside M25-ers.......who take the money then moan that it's us who generate it !!! INDEPENDENCE FOR THE LONDON CONURBATION !!!

sorry buddy .............CROYDON for independence :clap::clap:
 
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