A separate Scotland would be free to use whatever currency it wanted, including sterling. But it could not print sterling — indeed the Scottish banks would have to stop printing Scottish pound notes — and the Bank of England would not be lender of last resort. It has no need to be that to any foreign jurisdiction just because that jurisdiction uses sterling. So a separate Scotland using sterling would have no ability to create money and no central bank lender of last resort. But by far the biggest deficit in Europe to finance. Borrowing rates would be penal. It’s a Darien-style financial crash in the making which will pauperise the nation. And the real threat to Scotland’s pensions/pensioners.