Tag Archives: Marshall

Is the NatWest/Nigel Farage row another enormous scam to profit the super-rich?

Nigel Farage: why is the loss of his bank account a scandal and not the removal of many accounts belonging to Muslims? Is it because super-rich people can profit from it – including his GB News boss?

Why have we seen such a media outpouring of sympathy for Nigel Farage over the closure of his Coutts & Co bank account when the same thing has been happening to Muslims since the turn of the century and they’ve had no coverage?

Is it because Sir Paul Marshall, owner of Farage’s employer GB News, runs a hedge fund that took out a “short” position on Coutts’ owner NatWest’s stock – bet that the bank’s market price would fall? Stock has now fallen by £850 million and Marshall’s hedge fund – Marshall Wace – has made a fortune.

And is the Tory government also preparing to sell its 40 per cent shareholding in NatWest and an incident that artificially lowers the price would mean any of their friends and donors who bought those shares would be able to make a very fast profit when they rise after the scandal is over?

That would be very corrupt, wouldn’t it?

Here’s what has been happening over at GB News:

In its reportThe London Economic adds that “it’s only a snip of the billions under management at the firm and is likely to have been computer driven” – but how do we know that?

It seems clear that Sir Paul Marshall has been in a position both to know in advance about the situation with Farage’s bank account, to use it to give the bank bad publicity and engineer a share price collapse, and to profit from that collapse via his hedge fund.

That would be insider trading, which is illegal. Anyone convicted of it faces unlimited fines and/or up to 10 years’ imprisonment.

It depends on when Farage’s account was closed, when news reports of the closure appeared, and whether GB News was among the first to report it (it doesn’t even have to be the first). Did Farage mention it to his boss?

Next:

This makes sense as the Tory government has ‘form’ in this regard; it sold shares in Lloyds Bank at a loss in 2017.

Finally, and possibly damningly: perhaps the biggest reason this whole affair smells worse than a pile of Haddock that have been dead for four weeks is that the media have known about people having their bank accounts closed for no reason since some time around the turn of the century.

That well-respected (and then right-wing) reporter Peter Oborne spent years trying to get UK news outlets to report on the plight of innocent Muslims whose accounts were closed in this way, to no avail.

I’ll let him explain:

So we have a situation that has been ongoing for two decades or more, of which reporters, editors and bosses in the mass media are well aware; it becomes a public scandal only when a high-profile political figure who is now a presenter on a news channel is disadvantaged by it – allowing the owner of that channel to make millions of pounds from it; and it lowers the share price of a commercial organisation in which the UK government has shares, leading to speculation that those shares will be sold to make a profit for people who are already very rich.

Are you prepared to shrug and say it all seems perfectly innocent to you? Or would you like an investigation of what may be considered fraud under UK insider trading laws?


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How can this candidate win where Labour blocked Greg Marshall from standing?

Juliet Campbell: she was another local choice to be Broxtowe’s candidate in the next general election and her selection appears to be a deliberate snub against the Labour leadership’s attempt to influence the vote.

Broxtowe Constituency Labour Party appears to be considerably smaller than it used to be after people ripped up their membership cards in disgust at being barred from choosing Greg Marshall as their candidate in the next general election.

Mr Marshall has stood as the constituency’s Labour candidate twice before – in 2017 and 2019 – and while he did not win on either occasion, he did manage to increase Labour’s vote share by 10 per cent between the former and the latter.

But it seems a panel of the party’s National Executive Committee blocked him from the party’s long-list for selection this time.

In a statement last month, he said: “It is with huge disappointment that yesterday I was blocked by the Labour Party from standing to represent Broxtowe at the next general election. To add insult to this decision, I wasn’t even informed directly by the party but instead had to wait to be told by the [constituency Labour party] members on the selection committee.”

Despite the Labour leadership’s decision to remove him by remote control – or possibly because of it – this was the reception he received when he arrived at the party’s selection meeting:

Broxtowe Labour subsequently tweeted its regret that many torn-up membership cards were left around the venue, although that tweet has now been deleted.

The winning candidate was Juliet Campbell – another local choice whose victory is considered a backlash against the imposition of puppet candidates by Keir Starmer:

Of course, the fact that there was any interference at all is in contradiction of a promise by Keir Starmer:

On February 4, 2020, he had tweeted: “The selections for Labour candidates needs [sic] to be more democratic and we should end NEC impositions of candidates. Local Party members should select their candidates for every election.”

And what of Mr Marshall?

Well, here’s an idea:

How about it? Or is he, like Jeremy Corbyn, still living in hope that the hollowed-out husk of Labour can still be turned back into the party that Keir Hardie first led into Parliament?


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