Tag: Christopher Harborne

  • Trump Grants Himself a Bank

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    Article by Marc Jarsulic Gerald Epstein republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0).

    President Donald Trump delivers remarks as he is joined by (L-R, front) Chairman of the US Securities and Exchange Commission (SEC) Paul Atkins, Commodity Futures Trading Commission (CFTC) Chairman Michael Selig, and Chairman of the NYSE and CEO of Intercontinental Exchange Jeffrey Sprecher, during a summit of crypto and technology leaders in the Roosevelt Room of the White House on August 19, 2026 in Washington, DC. (Photo by Alex Wong/Getty Images)

    Whatever level of outrage there is over this example of Trump’s corruption and conflict of interests, it’s likely not enough.

    The Trump family has made a fortune from its crypto business. By granting his business a bank charter, the Office of the Comptroller of the Currency (OCC) in the Treasury Department has acted to help him, his family, and possibly one Middle Eastern spymaster make more money.

    It is widely recognized that the OCC’s decision is laden with conflicts of interest. But there is more to it than self-dealing and self-enrichment. If implemented, the decision also corrupts the US economy by allowing criminals, terrorists and rogue states access to the payments system—the basic plumbing—used by regulated banks. It also creates conditions for crypto firms to maneuver for a federal bailout should their businesses start to fail.

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    The Trump family has a significant ownership interest in World Liberty Financial, a company that among other things issues the USD1 “stablecoin.” In 2025 Trump alone reported earning $536.4 million from WLF. Even this sum does not include income that may be going to Trumps’ family, or to the family of his emissary Steve Witkoff, which also have interests in WLF. Nor does it include income which may be going to Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates spy chief, whose investment company owns a 49 percent equity share of WLF.

    Not satisfied with that haul, WLF has obtained a trust bank charter from the OCC, which will be used to house its stablecoin business.

    This will give WLF important new advantages.

    First, a trust charter eases the way for the WLF stablecoin business to obtain a “master account” at the Federal Reserve, which are used by banks to hold and transfer dollars electronically. If a master account is granted, dollar payments into and out of USD1 can go through that system. This will lower USD1 costs, since it will not need to use a commercial bank to transfer funds.

    Second, it will create a halo effect for USD1, enhancing its legitimacy and perceived safety. A “trust bank” sounds like something that comes with the regulations, supervision, and guarantees that make commercial banks a safe place for retail depositors. But that is not true. Trust banks do not take deposits or make loans, are not federally insured, and are not eligible for lending from the Federal Reserve.

    The conflicts of interest in granting a bank charter to WLF are apparent. The OCC—which a Trump executive order claims is completely controlled by him—has granted a bank charter to a firm which makes him money and will act as the supposed supervisor of that bank.

    Bad as this seems, there are harms beyond the self-dealing and self-enrichment involved in granting this charter. Giving any stablecoin or crypto currency firm access to a master account invites illicit use of the regulated financial system which we all depend on.

    The Tether stablecoin, for example, has featured in international criminal cases, and has frequently been used by financial fraudsters laundering money, by countries such as Iran and Russia evading sanctions, and by terrorist networks. A record $158 billion of crypto tokens were sent to criminal wallets in 2025, a 145% increase from the previous years.

    This risk has been recognized by the Federal Reserve in the past. According to guidance released by the Board of Governors in 2022, master accounts should not go to entities that create an undue risk to the economy by “facilitating activities such as money laundering, terrorism financing, fraud, cybercrimes, economic or trade sanctions violations, or other illicit activities”. It is not at all clear why any stablecoin or other crypto currency is not, on the face of it, ineligible under these and other parts of the BOG guidance. In fact, Federal Reserve Governor Michael Barr has objected to the creation of this class of account because it does not provide sufficiently specific and robust safeguards to protect against their being used for money laundering and terrorist financing by institutions the Fed does not supervise.

    There is another alarming outcome that may result from giving bank charters to crypto firms. The halo effect—which may lead stablecoin users to believe they have federal protection—could be used by WLF and other crypto firms to provide political cover for a federal bail-out if their businesses were failing.

    There would be no legal basis for such a bailout. But would this administration, and the OCC which it claims to control completely, look for a way to provide a bailout that protected their crypto firm wealth? That may seem unlikely, but so did a $1.8 billion fund to benefit January 6 rioters and other political favorites.

    The OCC and the Federal Reserve are failing in their duty to protect the public and the economy from potential harm that can flow from crypto firms like WLF. A responsible Congress would intervene to stop it.

    Marc Jarsulic and Gerald Epstein are economists and among dozens of expert contributors to Game Changers: Economic Policies for a Working America, a project of the Political Economy Research Institute, UMass Amherst. The ideas in this article are developed in their paper “No More Bailouts,” available on the Game Changers website.

    Article by Marc Jarsulic Gerald Epstein republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0).

    dizzy: This article mentions the Tether stablecoin. The Reform UK and Nigel Farage sponsor Chakrit Sakunkrit / Christopher Harborne has involvement in the Tether stablecoin as well as many defence companies.

    Orcas discuss rotting brain, front Orca says he wishes someone would Lock Him Up, small Orca says he thinks that his meds have been changed.
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    Orcas discuss how Trump was re-elected and him being an obviously insane, xenophobic Fascist.
    Orcas discuss how Trump was re-elected and him being an obviously insane, xenophobic Fascist.

  • Meet the Aristocrats Helping to Fund Reform

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    Article by Max Colbert republished form DeSmog.

    Nigel Farage and ‘Posh George’ Cottrell (right) in January 2020. Credit: PA Images

    Nigel Farage’s donors include Mayfair club owners, fox hunt masters, and the landed gentry.

    On 7 June, Nigel Farage announced that he was resigning as the MP for Clacton amid the political furore caused by his £5 million undeclared gift from crypto billionaire and major Reform UK donor Christopher Harborne. 

    Farage said that he will stand for re-election in a contest he has described as “the people versus the establishment”.

    However, judging by the makeup of Reform’s donors, the party is firmly embedded in the “establishment” that Farage has attempted to malign. 

    Not only has Reform accepted millions from crypto barons and fossil fuel interests, it has also been bankrolled by aristocrats, peers, and owners of swanky private members’ clubs. 

    “My family have known the Cottrell family and the broader Hesketh family for 50 years – a very successful aristocratic family,” said Reform deputy leader Richard Tice in an interview with Times Radio on 10 June. 

    Tice was being questioned about a £1 million transfer from Fiona Cottrell to his company, Britain Means Business, half of which was donated to Reform. 

    Fiona and her son George Cottrell have been in the news recently for their financial ties to Farage’s party – and they are far from Reform’s only old money backers. 

    Fiona Cottrell is the daughter of Rupert Watson, 3rd Baron Manton. Under her maiden name, Fiona Watson, she was a former glamour model and one-time girlfriend of King Charles III when he was the Prince of Wales. On top of the £1 million she gave to Britain Means Business, Cottrell has donated £750,000 directly to Reform – although a large portion, £500,000, is currently being investigated by the Metropolitan Police.

    George Cottrell – nicknamed “Posh George” – is part of Farage’s inner cadre, having been UKIP’s head of fundraising, and later Farage’s chief of staff. George, who was previously convicted of wire fraud after being arrested by undercover U.S. agents while attending the 2016 National Republican Convention with Farage, has also provided direct financial support to the Reform premier.

    Cottrell helped to fund Farage’s anti-immigration campaign videos in 2023 and 2024, supplied him with security, and allowed the Reform leader to use an office in his five-storey London townhouse, which overlooks Buckingham Palace. Farage didn’t declare these gifts, and recently falsely claimed that he hadn’t received any additional support from George since being elected to Parliament.

    As his nickname suggests, George is known for his opulent tastes, lives in a penthouse in Tivat, Montenegro, and regularly claims to have a trust fund of £250 million, according to the Sunday Times.

    And his aristocratic lineage is extensive. George is the nephew of Thomas ‘Alexander’ Fermor-Hesketh, 3rd Baron Hesketh, a former Conservative donor who defected to UKIP. One of Alexander’s three sons, Frederick Hatton Fermor-Hesketh, donated £11,500 to Reform last year.

    Another member of high society to have donated £100,000 to Reform is Isabel Marcelle Christina Goldsmith, daughter of Sir James Goldsmith and Bolivian heiress Maria Isabel Patiño – the former a financier who left a £1.5 billion fortune to his family on his death in 1997.

    Isabel Goldsmith is an avid art collector and half-sister of Conservative politician Zac Goldsmith, who served in ministerial positions under Conservative leaders Boris Johnson, Liz Truss, and Rishi Sunak. 

    There is also a familial link between Zac Goldsmith’s mother, Lady Annabel Goldsmith, and another high-profile Reform donor – Robin Birley, who has donated £172,000 to the party.

    Annabel is Robin’s mother, while his father, Mark Birley, was the founder of the famous ‘Annabel’s’ nightclub in Mayfair, London. 

    Robin is himself a Mayfair club owner whose portfolio includes 5 Hertford Street, and Oswald’s (named after Robin’s grandfather) at 25 Albemarle Street, both of which are regular haunts of Reform politicians and their allies. 

    Alexander Thévoz, who has documented the “secret life of London private members’ clubs”, writes that “to understand Robin Birley’s clubs is to understand Brexit”. In 2024, the high society magazine Tatler reported that Oswald’s had 2,000 members, “all at the apex of social power”.

    Farage is a member of 5 Hertford Street, which earned the moniker of “the Brexit sex dungeon” around the time of the referendum due to the number of anti-EU figures who frequented the establishment. The club costs a rumoured £3,000 to join (including the £1,200 joining fee) and its members reportedly wander around “in smoking jackets, velvet slippers and signet rings”.

    Farage appears to conduct a considerable amount of his political business from Birley’s clubs. It was reported in 2025 that the Reform leader held a fundraiser at Oswald’s – founded as a private wine club – to attract billionaire donors including former Tory patron Bassim Haidar, all while popping “jeroboams of white burgundy and double magnums of Tempo d’Angelus”. The event reportedly raised £1 million for the party. 

    Birley isn’t Reform’s only private members’ club donor. Another backer, Steven McTiernan, behind three donations worth a combined £15,000, appears to be the director of another exclusive private members’ club, the Oriental Club (or Oriental Club 1824 Limited), located in Stratford House, near Oxford Street in central London. 

    The club is described on its website as being “founded by returning officers and officials from India and the East for whom the Club was a valued haven in London”, and “a place where high ranking Members of the East India Company could meet and do business in pleasant, comfortable surroundings whilst home on leave”. The Duke of Wellington was, it says, “the Club’s first and only President in 1824”.

    5 Hertford Street in Mayfair, London.

    Credit:
    No Swan So Fine / Wikimedia Commons 
    (CC-BY-SA-4.0)

    Reform’s donor base is also populated by several individuals with peerages.  

    Lord Anthony Bamford, who stood down from the Upper Chamber in 2024, is one of Reform’s more recent donors, having previously given vast sums to the Conservative Party. 

    With a combined wealth of £10.3 billion, the Bamford family gave Farage’s party £200,000 in November last year through its multinational construction conglomerate JCB, while Lord Bamford paid for a helicopter flight for Farage and one of his staff members to tour a JCB site in 2024, valued at £8,413.

    Following JCB’s donation, Reform’s senior figures have publicly praised JCB’s Pothole Pro equipment, which is said to speed up the fixing of road damage – a key issue in local authorities, many of which Reform now controls. 

    The machine was even promoted on Reform’s local campaign literature in the run-up to this year’s May elections.

    Reform also has financial ties to the owner of the Daily Mail, Viscount Rothermere, the great-grandson of Harold Harmsworth, who founded the newspaper in the late 19th century and was handed hereditary titles in the 1910s.

    Viscount Rothermere’s spouse, Viscountess Rothermere (Claudia Harmsworth), gave £50,000 to Reform in September 2025. The family is worth £2 billion, according to the Sunday Times Rich List, and owns the Daily Mail’s parent company through complex offshore structures. The pair also own Ferne House, a country manor set in 225 acres of parkland in Wiltshire, which they revamped in the early 2000s at a reported cost of £40 million. 

    Not all of Reform’s donors are aristocrats, but even those lacking old money or a peerage have a habit of engaging in aristocratic hobbies. 

    Reform donor Johan Christofferson, who gave the party £100,000 in June 2025, has a keen interest in fox hunting. A hedge fund manager and former Tory donor, Christofferson was the joint-master of a Scottish fox hunt that was prosecuted in 2017 for illegal hunting. Farage, for his part, is a vocal supporter of the blood sport, and has opposed the ban on the practice. 

    As documented by DeSmog, senior Reform politician Zia Yusuf – also a party donor – made his money by providing luxury experiences to the super-rich.

    Commenting on the importance of transparency around political donations, Cary Mitchell, executive director of strategy at Best for Britain, which campaigns to strengthen the UK’s democracy, said: “Nigel Farage likes to present himself as a man of the people, but with a parliamentary investigation by the standards watchdog into undeclared gifts, there are clearly questions for him to answer when it comes to transparency.

    “Scrutiny of political donations is a critically important part of the electoral process, allowing voters to assess who is seeking to represent them, and evading it demonstrates a fundamental contempt for voters and the UK’s values as a parliamentary democracy.”

    Article by Max Colbert republished form DeSmog.

    Nigel Farage explains that he's called another byelection in Clacton-on-Sea because he should be able to secretly enrich himself without scrutiny and accountabilty and that the rules shouldn't apply to him.
    Nigel Farage explains that he’s called another byelection in Clacton-on-Sea because he should be able to secretly enrich himself without scrutiny and accountabilty and that the rules shouldn’t apply to him.
    Nigel Farage admits to being a whore willing to do anything for someone with a big fat wallet and asks whether drinking pints and smoking fags is not enough for the stupid plebs.
    Nigel Farage admits to being a whore willing to do anything for someone with a big fat wallet and asks whether drinking pints and smoking fags is not enough for the stupid plebs.
    Nigel Farage blames the Muzzies.
    Nigel Farage blames the Muzzies.
  • Farage Stunt Flops as Reform Cash Questions Multiply

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    https://morningstaronline.co.uk/article/farage-stunt-flops-reform-cash-questions-multiply

     Nigel Farage may have landed himself in a humiliating contest with Count Binface

    NIGEL FARAGE’S desperate by-election gambit has descended into farce as his Reform party was rocked by fresh funding revelations.

    It emerged that the Reform boss’s £5 million donation from crypto billionaire Christopher Harborne, and other cash for the party, was referred to the National Crime Agency as suspicious.

    Labour Party chair Anna Turley called the news “astonishing and deeply serious” and called on Mr Farage to “come clean and co-operate” with the agency.

    The fresh scandal about Mr Farage’s funding, first reported by the Guardian, came as he faced the prospect of a hot summer campaigning to keep his Clacton seat in the face of a challenge by Count Binface.

    The perennial comedy candidate was the only confirmed opponent to Mr Farage in the by-election he provoked to regain control of a media narrative over sleaze which was gradually paralysing his political operation.

    However, the Tories, Labour, Greens, Liberal Democrats and Restore parties all called Reform’s bluff by confirming that they would not stand in the by-election, describing it as a farce.

    The local Green party was the last to declare its abstention, issuing a statement saying “we have no intention of helping to legitimise a by-election that appears designed not to serve local residents but to serve Nigel Farage’s personal political ambitions.

    “This contest is not about the people of Clacton. It is about one politician placing himself at the centre of a media spectacle and expecting local residents to play supporting roles in a drama of his own making.”

    …

    Article continues at https://morningstaronline.co.uk/article/farage-stunt-flops-reform-cash-questions-multiply

    Reform 2025 Ltd's Director Nigel Farage discusses his five million pounds gift from Crypto billionaire Christopher Harborne. He tells nosey parkers to mind their own business and suggests that you don't entertain the notion that even some of it could be dirty money from international money laundering
    Reform 2025 Ltd’s Director Nigel Farage discusses his five million pounds gift from Crypto billionaire Christopher Harborne. He tells nosey parkers to mind their own business and suggests that you don’t entertain the notion that even some of it could be dirty money from international money laundering. FM, I’ve done it again
  • Personal Gift? He owned the party

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    Crypto, peerages, or political self-sacrifice – why did Farage gift Boris the 2019 election?

    …

    The quid pro quo allegation

    Two weeks ago, the Nerve published its first story in this series, in which we forensically examined how the pattern of Harborne’s donations closely tracked Farage and Johnson’s public statements about cryptocurrency policy reform, specifically so-called stablecoins. Harborne’s wealth derives in large part from Tether, a stablecoin.

    This week, the Nerve’s new evidence shines a new light on the sequence of events that preceded Britain’s exit from the EU, and Harborne’s relationship with Farage and later Johnson.  

    But those relationships with Farage and Johnson are now a matter of both intense public interest and legal jeopardy. Mr Harborne’s lawyers, Schillings, repeatedly declined to answer any of our questions or requests for comment. 

    We are publishing these new revelations two weeks after Harborne filed a defamation claim in the High Court against a former leading member of Reform, Ben Habib.

    In an interview last month with the YouTuber Maximilien Robespierre, Habib claimed that Harborne’s £5m gift to Farage had been part of a deal that saw the 2019 election “sewn up between Nigel Farage, Christopher Harborne and Boris Johnson”. He alleged that the election that led to Brexit was “a monetary deal” and that individual £1m payments were made to both Johnson and Farage to secure a Brexit pact.

    Harborne did gift £1m to Johnson but not until three years later, in 2022, after Johnson had left office. There is no evidence to suggest any connection to Habib’s claim. It has also now been revealed that Farage received £5m from Harborne. Farage initially claimed it was to pay for a lifetime’s security but subsequently said it had been a “reward for campaigning for Brexit”. He denies Habib’s claim and wrote on X last month that his lawyers had written to him to demand an apology. Neither Farage nor Johnson responded to our requests for comment.

    We have carefully weighed the public interest but believe that fresh evidence raises new questions about the events of November 2019, contemporaneous reporting of a possible pact between Johnson and Farage, and the relevance of Harborne’s donations to Britain’s departure from the EU. 

    …

    Orcas discuss Donald Trump and the killer apes' concept of democracy. Front Orca warns that Trump is crashing his country's economy and that everything he does he does for the fantastically wealthy.
    Orcas discuss Donald Trump and the killer apes’ concept of democracy. Front Orca warns that Trump is crashing his country’s economy and that everything he does he does for the fantastically wealthy.
  • Farage, Harborne, £5 million and Reform UK’s cryptocurrency bill

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    https://yorkshirebylines.co.uk/politics/farage-harborne-5mn-and-reforms-cryptocurrency-bill/

    Within a year of receiving £5mn from a crypto billionaire, Nigel Farage’s Reform UK published a draft crypto bill

    [which has since been withdrawn (unpublished) form Reform’s website]

    The previously undisclosed £5mn ‘gift’ that Nigel Farage received from the British-born, Thailand-based cryptocurrency billionaire Christopher Harborne in mid-2024, shortly before reversing his decision not to stand as an MP in the coming general election, has certainly raised a few questions. Farage claims he was under no obligation to declare it since he wasn’t an MP at the time and, anyway, it was simply a no-strings-attached gift.

    I’m sure we are all very pleased for him. Parliamentary authorities, however, are sceptical and have launched an investigation. Farage may eventually face a recall petition and a by-election if the standards commissioner hands out a lengthy suspension.

    Not being a details man, he probably didn’t realise the rules require new members, within one month of their election, to declare “any registrable benefits (other than earnings) received in the 12 months before their election”. Personal gifts can be ignored, but only if they are from family members and even then, “the possible motive of the giver and the use to which the gift is to be put should be considered. If there is any doubt, the benefit should be registered”.

    Registrable means anything that “might reasonably be thought by others to influence his or her actions, speeches or votes in Parliament, or actions taken in his or her capacity as a Member of Parliament”.

    The money is reported to have been accompanied by a legal document declaring it to be “unconditional and irrevocable”. The Reform UK leader also suggested it was for his personal security, saying: “This money is the only way I can look after myself, and protect myself for the rest of my life”. That explanation barely survived the week with Farage later telling The Sun instead that it was “a reward for campaigning for Brexit for 27 years”.

    Was the £5mn really just a gift?

    Some, including Farage’s former colleague Ben Habib, suggest the purpose of the £5mn was to persuade Farage to stand as MP for Clacton. Farage formally announced on 23 May 2024 that he would not be a candidate in the general election that PM Rishi Sunak had announced the previous day. By 3 June, Farage had changed his mind. He would stand after all, and he was elected on 5 July with a 45% swing, the largest for any seat at a UK general election.

    …

    Article by Anthony Robinson continues at https://yorkshirebylines.co.uk/politics/farage-harborne-5mn-and-reforms-cryptocurrency-bill/. There is more to the story of Nigel Farage, Reform UK and cryptocurrency …

    Nigel Farage reminds you that he's the man that brought you Brexit and asks what could possibly go wrong.
    Nigel Farage reminds you that he’s the man that brought you Brexit and asks what could possibly go wrong.
    Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
    Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.