Dear Scotland, you lost your independent state on the Isthmus of Panama. In the late 1690s, your nobility and ordinary people invested heavily in a get-rich-quick scheme to establish a colony in Panama and cash in on a trade bonanza (like what England was doing with her colonies). The spectacular failure of this colony (called Caledonia) devastated your country’s economy and resulted in enough national debt that shortly thereafter, you chose to unite with England in the Acts of Union 1707. It seems that now you are faced with another get-rich-quick scheme. The primary case for independence seems to be a desire to “control of our own affairs” and obtain the revenue from Scotland’s offshore oil fields. However, there are unanswered questions like what will be your share of the offshore oil revenue? This has to be negotiated with the remainder of the U.K. And, how long will that oil last? 10 years? 20 years? Who is going to end up paying if this scheme fails? Please think about your vote carefully and get all your questions answered before investing in anything, regardless of the patriotic emotion you may be feeling at this moment. Emotion does not pay the bills. Just my two cents from someone who spotted “Caledonia” on a Panama map one day, and did some research to satisfy my curiosity. History can be instructive! en.wikipedia.org/wiki/Darien_scheme
Posted on: Mon, 15 Sep 2014 22:42:10 +0000
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