Bank CEO ousted following politically-motivated de-banking of Nigel Farage



Coutts bank, part of the NatWest Group, was exposed last week for having de-banked Nigel Farage for political reasons — something both the bank and the liberal British media previously denied.

Despite her apology last week, NatWest CEO Alison Rose has been ousted with the bank — her Tuesday admission to misleading the nation likely having been a factor.

While NatWest chairman Howard Davies indicated it "is a sad moment," Farage appears emboldened, stating on Twitter, "Dame Alison Rose has gone. Others must follow."

What's the background?

Farage, the former English politician who proved instrumental in the 2020 restoration of British sovereignty via Brexit, revealed early this month that he had been de-banked by Coutts and told his funds would be shifted to the lender NatWest.

The Guardian and other left-leaning British publications parroted the bank's suggestion that the rationale behind the shuttering of Farage's account was due to financial issues, specifically his alleged failure to meet wealth criteria.

However, Farage told BBC Radio 4, "I have been with them for a decade and at the moment I have more money sitting on current account than I have had for most of that time."

The Brexiteer appeared convinced that "the establishment" was "trying to force [him] out of the UK" owing to his political views, reported the Financial Times.

He wasn't wrong.

TheBlaze indicated last week that Farage got his hands on documents revealing both that he was right on the money and that the Times, the BBC, the Guardian and other liberal outfits were dead wrong: Coutts had taken issue with his political viewpoints and past public opinions.

Contrary to the bank's earlier suggestion, the 40-page file from Coutts bank obtained via a "subject access request" contained an acknowledgement that Farage was a commercially-viable customer.

The document further highlighted apparently unbecoming remarks made by the former politician, stressing the bank would be best off closing his account and "exiting" him upon the expiry of his mortgage, even though "it is very likely that the client would 'go public.'"

Among Farage's remarks and stances that got under the bankers' skins were were:

  • his 2020 comparison of the destructive and scandal-prone Black Lives Matter movement to the Taliban over their shared iconoclastic tendency to tear down statues;
  • his October 2022 suggestion that British politician Grant Shapps was a "remainer and a globalist";
  • his September 2022 suggestion that vicious tensions between Islamic and Hindu groups in Leicester were resultant of politicians deciding "to go down the road of diversity and multiculturalism";
  • his criticism of climate alarmism and his suggestion that "Net zero is net stupid";
  • his "Endorsements of Donald Trump"; and
  • his appearances on InfoWars.

Farage called the document "abusive," likening it to a "Stasi-style surveillance report."

Suella Braverman, the British home secretary, responded the revelations, writing, "The Coutts scandal exposes the sinister nature of much of the Diversity, Equity & Inclusion industry."

— (@)

After Coutts was exposed, NatWest CEO Alison Rose penned an apology to Farage, stating, "I believe very strongly that freedom of expression and access to banking are fundamental to our society and it is absolutely not our policy to exit a customer on the basis of legally held political and personal views. ... To this end, I would like to personally reiterate our offer to you of alternative banking arrangements at NatWest."

The BBC and its reporter Simon Jack, who now faces demands to resign, followed suit, apologizing Monday.

— (@)

Outs at Coutts

Sky News reported that Rose admitted to having been the BBC's source of the false suggestion that Farage's de-banking was executed on the basis of strictly commercial reasons.

Farage noted that this was a breach of client confidentiality and Financial Conduct Authority code.

"The first rule of banking is you have to obey client confidentiality. So they have made a complete and utter mess of this," said Farage.

Rose resigned and further confirmed she was no longer a member of the prime minister's business council on Wednesday.

The bank claimed Rose's departure was "by mutual consent," reported the Associated Press.

Following the news of Rose's resignation, shares in the bank dropped 4%.

Farage said online that he hopes "this serves as a warning to the banking industry. We need both cultural and legal changes to a system that has unfairly shut down many thousands of innocent people."

He said in a statement, "they should all go," referencing the whole of the NatWest board, including its chairman, Davies.

— (@)

Into the breach

Farage vowed Wednesday evening in an article for the Telegraph that his "war on woke banks is about to rapidly expand."

"An emergency root and branch examination of what has happened at NatWest under Rose’s leadership must now take place. In recent years this bank – 39 per cent owned by taxpayers, remember – has morphed into a woke warrior," he wrote. "It has become obsessed with public displays of political correctness rather than focussing on the business of managing and making money. The truth is that in its quest to promote diversity and inclusion, this corporate giant has turned into a divisive and poisonous monster."

"Now is the time to fight back," wrote Farage, adding that he intends to be the voice for "everyday people" and "to campaign for the cultural and legal changes that our banking system needs."

The last time Farage put his mind to populist action, the United Kingdom ended up kicking the EU to the curb.

The Sunday Times recently indicated that NatWest is likely to soon face an avalanche of requests from tens-of-thousands of similarly de-banked customers, all wishing to know why they were canceled.

Banking minister Andrew Griffith convened a meeting of the executives from Britain's biggest banks Wednesday, telling them, "It’s not the job of banks to tell us what to think or what political party we should support."

"In a democracy that relies upon freedom of expression, freedom of thought, that isn’t a legitimate thing for a bank to remove someone’s access to a bank account, a really important building block of society today," added Griffith.

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How The Government Will Try To Take Over Crypto

The federal government has historically shown its determination to gain control over new markets, and cryptocurrency will likely be the same.

Biden to issue an executive order directing the development of a fully digital dollar



President Joe Biden is expected to sign an executive order on Wednesday directing the federal government to move forward with the development and implementation of a digital U.S. dollar.

Biden’s executive order, which is also expected to address outstanding issues the federal government has pertaining to cryptocurrencies, will require the Treasury Department, the Commerce Department, and other key agencies to prepare reports on “the future of money,” especially CBDCs, or central bank digital currencies, Reuters reported.

The order also requires these departments to prepare reports on the different roles that cryptocurrencies play in the global economy and their role in the near future.

Officials in the Biden administration said that “wide-ranging oversight of the cryptocurrency market, which surged past $3 trillion in November, is essential to ensure U.S. national security, financial stability and U.S. competitiveness, and stave off the growing threat of cybercrime.”

Analysts reportedly view the long-awaited executive order as a pressing acknowledgment of the growing importance of cryptocurrencies and the possible risks they pose to American and global financial systems.

Biden’s executive order directs the federal government to determine what infrastructure is needed for the implementation of a CBDC.

In January, the U.S. Federal Reserve addressed Congress regarding whether or not the United States should embrace a fully digital currency.

In a report titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation,” the Federal Reserve detailed the current role that digital currencies — like Bitcoin and CBDCs — and digital payment processors play in the American economy.

The country’s central bank wrote, “While a CBDC could provide a safe, digital payment option for households and business as the payments system continues to evolve, and may result in faster payment options between countries, there may also be downsides.”

One such downside is the abundance of fraudulent activity occurring in the digital marketplace, warned the Federal Reserve. Other red flags raised were the preservation of monetary stability with an economy that is based entirely on a digital currency and the complete restructuring of the commercial banking system to accommodate a solely digital financial system.

Federal Reserve Chairman Jerome Powell said that the Federal Reserve is optimistic about “engaging with the public, elected representatives, and a broad range of stakeholders as we examine the positives and negatives of a central bank digital currency in the United States.”

Currently, nine countries have launched and implemented CBDCs, and 16 — including China — have begun development of CBDCs through pilot programs.

Disney is halting theatrical releases in Russia



Disney will pause its theatrical releases in Russia in response to the Russian invasion of Ukraine.

According to Fox Business, a spokesperson for Disney issued a statement that said, “Given the unprovoked invasion of Ukraine and the tragic humanitarian crisis, we are pausing the release of theatrical films in Russia, including the upcoming ‘Turning Red’ from Pixar. We will make future business decisions based on the evolving situation. In the meantime, given the scale of the emerging refugee crisis, we are working with our NGO partners to provide urgent aid and other humanitarian assistance to refugees.”

CNN Business said that Disney is reportedly working with its partner in non-governmental-organizations “to provided urgent aid and other humanitarian assistance to refugees” who were displaced by the ongoing Russian assault on Ukraine.

Netflix is also pushing back against Russia by refusing to domestically air Russian state TV channels. Russian law requires streaming platforms that have more than 100,000 subscribers in Russia to distribute state-owned Russian entertainment and news channels for free to subscription holders.

A Netflix spokesperson said, “Given the current situation, we have no plans to add these channels to our service.”

Disney’s decision to halt movie releases in Russia comes as the Western nations attempt to isolate Russia and cripple its economy with thoroughgoing sanctions.

On Saturday, several allied leaders of Western countries stated their commitment to restricting Russian banks from accessing the SWIFT telecommunications network.

The European Commission, France, Germany, Italy, Canada, the United Kingdom, and the United States committed to sanctioning Russian oligarchs and banks tied to the Russian government and who may be financially supporting the invasion of Ukraine.

In a joint statement, the Western leaders said, “We stand with the Ukrainian government and the Ukrainian people in their heroic efforts to resist Russia’s invasion. Russia’s war represents an assault on fundamental international rules and norms that have prevailed since the Second World War, which we are committed to defending. We will hold Russia to account and collectively ensure that this war is a strategic failure for Putin.”

These sanctions stand to cripple the Russian economy. They will prevent the Russian central bank from implementing monetary policy that enables the Russian economy to withstand the economic impact of sanctions and they make it virtually impossible for Russia to engage in international commerce.

Apple Pay and Google Pay, two of the world’s most used payment processors, have severed their relationships with Russian banks as a result of these sanctions. The Russian people may still use their bank cards and certain payment processors domestically, but many are unable to make digital purchases or payments with entities outside Russia.

Putin suspended as 'honorary president' of the International Judo Federation



Russian President Vladimir Putin has been suspended as the honorary president of the International Judo Federation.

On Sunday, the IJF released a statement saying that it was suspending Putin from his position as the “Honorary President and Ambassador of the International Judo Federation,” Reuters reported.

The IJF’s statement said, “In light of the ongoing war conflict in Ukraine, the International Judo Federation announces the suspension of Mr. Vladimir Putin’s status as Honorary President and Ambassador of the International Judo Federation.”

Putin, who is 69 years old, holds a black belt in judo and has even co-authored a book titled “Judo: History, Theory, Practice” and has previously trained alongside the Russian Olympic judo team.

Black belt Putin shows off judo moves with Olympic athletes www.youtube.com

He also holds the rank of grandmaster in taekwondo. He was granted this title in 2013 by the president of the World Taekwondo Federation.

Putin being stripped of this honorary title is just the latest, and the most benign, of the measures taken against him in response to the Russian invasion of Ukraine.

On Saturday, leaders from the European Commission, France, Germany, Italy, Canada, the United Kingdom, and the United States released a joint statement that said the Western allies were committed to “ensuring that selected Russian banks are removed form the SWIFT messaging system.”

By removing Russian banks from the SWIFT network, the Western leaders committed to restricting Russia’s ability to manipulate its currency to reduce the immediate fiscal impact of Western sanctions and specifically targeting Russian officials and oligarchs who encouraged military aggression with sanctions.

Restricting Russian access to the SWIFT network will greatly damage the Russian economy and make engaging in international commerce extremely difficult. This move will isolate Russia and stands to prevent it from exporting natural gas and fossil fuels.

The British Petroleum Company plans to divest from state-owned energy firms in Russia in response to the invasion of Ukraine, despite having done business with them for more than three decades.

BP Chairman Helge Lund said, “Russia’s attack on Ukraine is an act of aggression which is having tragic consequences across the region. BP has operated in Russia for over 30 years, working with brilliant Russian colleagues. However, this military action represents a fundamental change.”

On Sunday, the leadership of the European Union announced that it would be closing Europe’s airspace to all aircraft of Russian origin.

European Commission president Ursula von der Leyen said, “We are shutting down the EU airspace for Russians. We are proposing a prohibition on all Russian-owned, Russian-registered, or Russian-controlled aircraft. These aircraft will no more be able to land in, take off, or overfly the territory of the EU.”

Russian airlines and private jets are banned from European airspace



Ursula von der Leyen, President of the European Commission, said that the European Union would close its airspace to Russian aircraft in response to the recent Russian invasion of Ukraine, ABC News reported.

In a press conference, Von der Leyen said, “We are shutting down the EU airspace for Russians. We are proposing a prohibition on all Russian-owned, Russian-registered, or Russian-controlled aircraft. These aircraft will no more be able to land in, take off, or overfly the territory of the EU.”

“So let me be very clear,” she continued, “Our airspace will be closed to every Russian plane, and that includes the private jets of oligarchs too.”

Von der Leyen also announced that the European Union would be prohibiting media backed by the Russian government.

She said, “The state-owned Russia Today and Sputnik, and their subsidiaries, will no longer be able to spread their lies to justify Putin’s war. We are developing tools to ban their toxic and harmful disinformation in Europe.”

Second, we will ban the Kremlin\u2019s media machine in the EU.\n\u00a0\nThe state-owned Russia Today and Sputnik, and their subsidiaries,\nwill no longer be able to spread their lies to justify Putin\u2019s war.\n\u00a0\nWe are developing tools to ban their toxic and harmful disinformation in Europe.pic.twitter.com/7RcPEn6E14
— Ursula von der Leyen (@Ursula von der Leyen) 1645979737

Her press conference concluded with the von der Leyen issuing sanctions on the President of Belarus, Alexander Lukashenko.

Third, we will target the other aggressor in this war, Lukashenko\u2019s regime, with a new package of sanctions, hitting their most important sectors.\n\nAll these measures come on top of the strong package presented yesterday,\nagreed by our international partners.pic.twitter.com/ikN99V14zU
— Ursula von der Leyen (@Ursula von der Leyen) 1645979897

The European Union also plans to purchase and supply weapons to Ukrainian forces.

Von der Leyen said, “For the first time, the EU will finance the purchase and delivery of weapons and equipment to a country under attack.”

These sanctions will further hurt the Russian economy, which has been in a freefall since Russian forces started their invasion of Ukraine. The Russian ruble is plummeting in value, and Western nations continue to barrage Russia with sanctions.

In response to the ruble’s freefall, the Russian central bank is intervening in the foreign exchange market and expanding the list of securities that it will accept as collateral. It is also offering banks 1 trillion rubles so that they have additional liquidity to keep them afloat.

On Saturday, Western leaders proceeded with excluding Russia from the SWIFT telecommunications network, which will prevent the Russian central bank from manipulating its monetary policy to avoid the economic impact of sanctions and make it virtually impossible for Russia to conduct business with its international trade partners.

In a joint statement, the European Commission, France, Germany, Italy, Canada, the United Kingdom, and the United States committed to targeting Russian banks and oligarchs by blocking Russia’s access to the SWIFT network.

The Western leaders said, “We stand with the Ukrainian government and the Ukrainian people in their heroic efforts to resist Russia’s invasion.”

Eric Swalwell calls for Russian students to be kicked out of American universities



On Thursday, Congressman Eric Swalwell (D-Calif.) suggested that the United States deport Russian college students and shutter the Russian embassy in Washington, D.C in response to the Russian invasion of Ukraine, the Post Millennial reported.

While on “CNN Newsroom,” Rep. Swalwell said, “Frankly, I think closing their embassy in the United States, kicking every Russian student out of the United States, those should be on the table.”

He continued, “Vladimir Putin needs to know every day that he is in Ukraine, there are more severe options that could come.”

“This is the largest invasion in Europe since World War II, and these are the harshest sanctions that any country has experienced since World War II,” the congressman added, “There will be more to come.”

On Saturday, Western allies agreed to ramp up the sanctions placed on Russia by blocking Russian banks from accessing the SWIFT network.

In a joint statement, leadership from the European Commission, France, Germany, Italy, Canada, the United Kingdom, and the United States committed to amplifying financial sanctions by prohibiting Russian banks from using the telecommunications network to conduct international and domestic transactions.

By preventing Russia from utilizing the SWIFT network, Western leaders will effectively isolate them and make it incredibly difficult for the Russian economy from making either short- or long-term gains. These sanctions, notably, interfere with Russia’s ability to export natural gas and oil. Fuel exports compose more than half of Russia’s GDP.

Vodka — one of Russia’s most iconic exports — is also being affected by Western sanctions. The Canadian government is stopping the sale and importation of Russian-made products. And in the United States, several state governments have called for the removal of Russian vodka from liquor stores.

After invading Ukraine and even before Western nations issued sanctions, Russia’s economy began to crater. Currently, a Russian ruble is worth about 0.012 U.S. dollars. The Russian currency is less valuable than some in-game currencies for video games.

Rep. Swalwell currently serves on the House Intelligence Committee.

Previously, per federal investigators, Swalwell had a close personal relationship with a woman named Christine Fang. As it turns out, Ms. Fang was a spy for the Chinese government. Rep. Swalwell and Ms. Fang were involved while Swalwell served on the House Intelligence Committee.

Upon learning of Ms. Fang and Swalwell’s relationship, high-ranking members of the House Republican Caucus called for his removal from the House Intelligence Committee.

In mid-January, House Minority Leader Kevin McCarthy (R-Calif.) said that if the Republican Party wins a majority in the House of Representatives after the 2022 midterms, Rep. Swalwell will be stripped of his role on the House Intelligence Committee.

The Russian central bank takes steps to stabilize the ruble as it plummets in value



The Bank of Russia is proceeding with emergency measures to stabilize its economy and to prevent the Russian ruble from losing further value.

For the first time, the Russian central bank said that it will intervene in the foreign exchange market and expand its Lombard list of securities that it will accept as collateral, Bloomberg reported.

The central bank did not mention whether or not it would raise interest rates but it did proceed with agreeing to provide Russian banks with additional liquidity. It is preparing to offer banks 1 trillion rubles — roughly $11.5 billion —in an overnight repo auction.

On Thursday, Russian President Vladimir Putin, ordered Russian forces to launch their invasion of Ukraine and strike strategic targets to demilitarize the country. Upon doing so, the ruble fell to a record low in value.

In response to Russia’s invasion of Ukraine, leaders of Western nations are implementing a wide array of sanctions to weaken the Russian economy.

Less than a day after the Russian invasion of Ukraine began, President Joe Biden announced that the United States would target Russia’s largest financial institutions, Sherbank and VTB, to prevent them from using the American financial system to conduct transactions. These sanctions are fairly comprehensive and will restrict nearly 80% of Russian banking assets.

Previously, Biden stopped short of calling for Russia’s removal from the Society of Worldwide Interbank Financial Telecommunication (SWIFT).

Biden said, “It is always an option, but right now it’s not the position the rest of Europe wishes to take.”

Kicking Russia out of SWIFT would greatly damage the Russian economy in the short term and make recovery incredibly difficult in the long term. It could prevent Russia from engaging in international transactions and would cripple their ability to export oil and gas.

On Saturday, the allied leaders of several Western countries — including the Untied States — expressed their support for preventing Russia from being able to access and utilize the SWIFT network.

The Western leaders agreed to target specific Russian banks for removal from the SWIFT system, to prevent the Russian central bank from manipulating its monetary policy, and to take aggressive steps to sanction and financially punish Russian individuals involved in the invasion of Ukraine.

By preventing Russia from using the SWIFT network, the West will effectively isolate them and inhibit them from conducting trade with some of its largest trade partners.

At the time of writing, a Russian ruble is worth about 0.012 U.S. dollars. The in-game currency for the popular children’s videogame “Roblox” – aptly named Robux – is worth about 0.0125 U.S. dollars per unit.

Western nations isolate Russia's economy by kicking them out of SWIFT



In a drastic move to sanction Russia for invading Ukraine, the leadership of several Western nations agreed to exclude Russian banks from the SWIFT communication network.

NOW - EU to ban certain Russian banks from #SWIFT, paralyze assets of the Russian central bank, and further freeze assets of oligarchs.pic.twitter.com/VncRssucwO
— Disclose.tv (@Disclose.tv) 1645914130
NEWS: Joint statement from European Commission, France, Germany, Italy, UK, Canada, US\n\n\u201cWe commit to ensuring that selected Russian banks are removed from the SWIFT messaging system. This will ensure that these banks are disconnected from the international financial system \u2026\u201d
— Kate Davidson (@Kate Davidson) 1645913694

In a joint statement, the European Commission, France, Germany, Italy, Canada, the United Kingdom, and the United States committed to removing specific Russian banks from the SWIFT network.

“We stand with the Ukrainian government and the Ukrainian people in their heroic efforts to resist Russia’s invasion,” the statement proclaimed, “Russia’s war represents an assault on fundamental international rules and norms that have prevailed since the Second World War, which we are committed to defending. We will hold Russia to account and collectively ensure that this war is a strategic failure for Putin.”

“As Russian forces unleash their assault on Kyiv and other Ukrainian cities,” the statement continued, “We are resolved to continue imposing costs on Russia that will further isolate Russia from the international financial system and our economies. We will implement these measures within the coming days.”

The Western leaders committed to:

  • “Ensuring that selected Russian banks are removed from the SWIFT messaging system.”
  • “Imposing restrictive measures that will prevent the Russian Central Bank from deploying its international reserves in ways that undermine the impact of our sanctions.”
  • “Acting against the people and entities who facilitate the war in Ukraine” and to “limit the sale of citizenship … that let wealthy Russians connected to the government become citizens of our countries and gain access to our financial systems.”
  • “Launching this coming week a transatlantic task force that will ensure the effective implementation of our financial sanctions by identifying and freezing the assets of sanctioned individuals and companies that exist within our jurisdictions.”

The Western leaders made clear that it would work with governments across the globe to “detect and disrupt the movement of ill-gotten gains” and would “deny” prominent Russian figures the ability to launder their wealth abroad.

By preventing Russia from utilizing the SWIFT communication network, Western leaders will effectively isolate them and inhibit them from conducting trade with many of its largest trade partners. This move will also interfere with Russia’s ability to export natural gas and oil, which makes up more than half of the country’s GDP.

The statement ended with a declaration of solidarity with the Ukrainian people “in this dark hour” and affirmed that the West is prepared to launch stricter sanctions against Russia should it become necessary to do so.