The Debanking of Nigel Farage - WBD699

Nigel Farage is a prominent British broadcaster and former
politician. In this interview, in the wake of the controversial
closure of Nigel’s bank account that led to the resignation of
the CEO of Natwest Bank, we discuss the importance of individual
sovereignty and the control of money by the state. We also
discuss the growing concern over CBDCs and the critical
importance of cash.


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In June 2023, Nigel Farage had his Coutts UK bank account
unexpectedly closed. He firmly believed that this action was a
result of political persecution. This sparked a heated debate,
with prominent politicians, such as the UK’s Chancellor of the
Exchequer Jeremy Hunt, expressing concerns about the denial of
financial services to those who engage in lawful free speech.


The BBC reported in early July that Farage's Coutts account had
been shut down because he didn't meet the bank’s minimum
investment threshold. However, this version of events was untrue.
Farage had obtained a document (through a subject access request
to Coutts) revealing that the closure of his accounts was in fact
due to his political views not aligning with the bank's values.


The CEO of the NatWest Group, Dame Alison Rose, was the source
for the BBC’s initial incorrect story. Natwest, the owner of
Coutts, is one of the major UK banks. The British Government
bailed out the banking group during the Global Financial Crisis,
and they still own 39% of the company. Responding to the mounting
pressure, Dame Rose resigned on July 25, 2023.


These unfolding events shed light on the challenges faced by
individuals when financial institutions seemingly conflate
personal beliefs with the provision of banking services. The
situation underscores the importance of upholding freedom of
speech and the need for transparency and accountability within
the banking sector.


Show notes:
https://www.whatbitcoindid.com/podcast/the-debanking-of-nigel-farage


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