The United Kingdom Tory Party’s nemesis, Nigel Farage, has gone “full crypto.”
On November 27, Farage sat down with Sam Volkering, editor of Southbank Investment Analysis, which is, interestingly, the publisher of Farage’s newly released investor newsletter “Fortune & Freedom.” In the interview, Farage derided the “funny money” of the government, which it continues to print at warp speed during the pandemic, and argued that getting one’s head around crypto is indeed “crucially important”.
He has elsewhere called Bitcoin “the ultimate anti-lockdown investment,” pointedly on-brand for his newly-launched Reform UK party.
The proof for the “inevitable” crypto pivot is hard to doubt. Farage’s Fortune & Freedom is pitching to an audience that aspires to “grow [its] wealth” in the “New Britain, unleashed after the Brexit.” Farage, a former commodity trader, informs his readers that having secured political freedom through the Brexit, it’s time for them to get their money and their faith back in their hands.
Other newsletters released by Southbank Investment Research include titles such as “Short the World,” “Crypto Profits Extreme” and “Exponential Investor Premium.” Volkering is self-described as “authority in the new field of digital assets,” having first purchased Bitcoin in 2011 and “followed the cryptocurrencies’ Wild West.”‘
The close ties between the libertarian movement and the arch-Atlanticists of the Vote Leave campaign have, by now, been well documented. One source in Whitehall reported that not even Margaret Thatcher, or monetarism at its height, had contemplated such shock therapy” as the Brexiteers, with their push for the unilateral opening of the U.K. to the United States market and the drastic economic liberalization of the country.
Yet Farage’s newsletter associate, Nick Hubble, presented a document on December 3, stating that both “Keynes and Friedman died of COVID-19” and advocating the “radical future” predicted by the proponents of Modern Monetary Theory, or MMT. With the U.K. poised to face its worst shock in 300 years due to the combined impact of coronavirus and Brexit, it is perhaps the spirit of the monetarists, if not the letter, that will triumph according to Milton Friedman’s legendary maxim: “Only a crisis — actual or perceived — produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around.”