The nemesis of the UK Conservative Party, Nigel Farage, has chosen cryptocurrencies.
November 27th Farage gave a video interview to discuss everything about cryptocurrency with Sam Volkering, the editor of Southbank Investment Research, who is the particular editor of Farage’s recently published Farage newsletter “Fortune Freedom”.
During the interview Farage mocked the government, which continues to print money at breakneck speed during the pandemicand concluded that becoming familiar with cryptocurrencies is “of the essence”.
Somewhere else Bitcoin Called “The Ultimate Anti-Blocking Investment”, deliberately on the mark of his newly launched Reform UK party.
The interview by Farage and Volkering is apparently only the first in a seriesthat will educate viewers how to buy cryptocurrencies, how to store them and keep them safe.
Journalists out The Financial Times They seem to have waited a long time for the politician to turn to cryptocurrencies: “It was just a matter of time”as Alphaville columnist Jemima Kelly would say.
The evidence of his “inevitable” turn to cryptocurrencies is difficult to dispute. Farages Fortune Freedom presents itself to an audience that wants to “grow” [su] Wealth “in a” New England unleashed after Brexit “. Farage, a former commodities trader, tells readers that it is time for them to get their hands on their money and fate again after they secured political freedom through Brexit.
Other newsletters published by Southbank Investment Research include titles such as “Short the World”, “Crypto Profits Extreme” and “Exponential Investor Premium”. Volkering describes itself as “the authority in the new field of digital assets”.after buying Bitcoin in 2011 and “following the” wild west “of cryptocurrencies”.
He is also the author of a book entitled “Crypto Revolution: Bitcoin, Cryptocurrencies, and the Future of Money”., also published by Southbank Investment Research. Kelly snappy recommends the book as a timely gift option for FT readers who may have ended up at work in 2020 without their secret Santa Claus.
Aside from the FT’s apparent dislike of Farage and his crypto enthusiast, Some of the influences on Fortune Freedom seem to be more diverse than the supposed fundamentalism of Brexiters in the free market.
The close ties between the libertarian movement and the arch-Atlanticists in the election campaign are already well documented. A Whitehall source claimed so “Not even Margaret Thatcher or monetarism at its height had thought of such shock therapy.” like the Brexiters with their urge for a unilateral opening of Great Britain to the US market and a radical economic liberalization of the country.
Farage’s partner in the newsletter, Nick Hubblepublished an article on December 3 stating “Keynes and Friedman died of COVID-19” and defend the “radical future” promised by the defenders of Modern Monetary Theory, or MMT.
MMT takes up the argument that States create demand for their fiat currencies by taxing the population. So, Money is seen as the unit of account for both credit and debtthat sovereign states can create and destroy at will. Stephanie Kelton, a popularizer of MMT, writes that The state can afford “to buy what is for sale in its own unit of account”.
This is a view that is completely contrary to the belief of many Bitcoiners A flexible monetary policy means a supposed inflationary loss of value.
Remains to be seen how Hubble will reconcile its apparent introduction of MMT with its earlier view that cryptocurrencies will be reconciled “represent the first […] Reversing government theft hundreds of years ago. “
With the UK close to that Worst hit in 300 years due to the combined effects of Coronavirus and BrexitPerhaps it is the spirit of the monetarists, if not the letter, that will triumph according to the legendary maxim of Milton Friedman: “Only a crisis – real or perceived – leads to real change. When this crisis occurs, the actions taken depend on the ideas that are there.”
Be it MMT, the crypto revolution or Farage-Hubble’s eclecticism, something will prove to be ready for the select few beneficiaries of the UK’s double crisis of 2020. It is the perfect time for a person’s preferred alternative to go from “politically impossible” to “politically inevitable”.