The collapse of FTX has been quite interesting, and not just for its many creditors. The crypto-currency exchange has been linked to a money-laundering operation to the Democrats via the Ukraine and a pedophile ring in California. Former CEO Sam Bankman-Fried has been spotted in the presence of a number of dodgy individuals, no offense intended, including former President Bill Clinton and Europhile ex British Prime Minister Tony Blair.
FTX’s collapse has been one of the most spectacular in corporate history. Founded only in 2019, with dubious regulatory approval, and valued at $32 billion in January 2022, FTX’s co-founder Sam Bankman-Fried, who has been well and truly fried, pun intended, is no longer a billionaire and is now down to his last $100,000. Poor chap! He’s also stopped hosting what have been euphemistically described as ‘polyamorous’ parties, in other words orgies, at his penthouse in the Bahamas.
I’m not against orgies, especially gay ones, but not at other people’s expense! It has emerged that FTX (a contraction of Futures Exchange) lent $10 billion of its clients’ money to Alameda, a company closely connected to Bankman-Fried and run by his girlfriend. Not its own money, mind you, which it was free to lend, but other people’s money.
John J. Ray III, who helped sort out the Enron mess and is used to corporate wrongdoing, has described the lack of corporate controls as the worst he’s ever seen. The depositors’ funds were not of course insured with the Federal Deposit Insurance Corporation, despite a misleading tweet by former FTX president Brett Harrison, which prompted a cease and desist order from the boys at FDIC.
An article in trade magazine CoinDesk, which specialises in crypto-currencies, sparked a run, which in turn led to the collapse. A key role was played by a mysterious Chinese Canadian, Changpeng Zhao, CEO of Binance, who on November 6th announced on Twitter that it was offloading its entire holding of FTTs, the tokens issued by FTX. That was pretty much the end.
The hole in FTX’s finances is bigger than that in the British Treasury’s. The creditors have managed so far to locate $564,406,305 and some change in no fewer than 145 separate bank accounts. FTX owes at least $9 billion. It has assets but how much they will realise in a fire sale is an open question.
Both Alameda and FTX filed for Chapter 11 bankruptcy in the US Bankruptcy Court in Delaware on November 9th (case number 22-11068). The case has been assigned to Judge John Dorsey. The losers include a wide variety of investors, sadly including the Ontario Teachers’ Pension Plan.
Intriguing questions arise both as to why FTX was so easily able to raise its seed capital and who took the decision to crash it. Zhao’s role was crucial. However it should not be assumed that the decision to bring FTX down was taken in Peking. In fact, given its role in laundering money to the Democrats via Kiev and Peking’s desperation to humiliate Donald Trump and the Republicans there is no way that Peking would want FTX taken down.
Moreover Changpeng Zhao’s family have been badly treated by the ChiComs and Zhao himself has been a Canadian citizen for many years. I can scarcely see him responding to pressure from Justin Castro, sorry Trudeau. Maybe the Good Guys are not as clueless and powerless as they seem. Rishi ‘von’ Sunak is clueless and powerless, but then he’s hardly one of the Good Guys!
It looks to me as though someone has had a pop at FTX, aware of its key role in bankrolling the evil Democrats and propping up the Ukrainian regime. Which particular Good Guys pulled the rug however is difficult to say.
Word seems to be spreading as to what the evil Ukies, no offense intended, have been up to. Even Jerry has been backing off, not to mention the French. Only the poor old British government is still giving solid backing to Kiev, but then its intelligence advice is filtered by the Cabinet Office, whose dedication to keeping ministers in the dark knows no bounds, no offense intended.
The Chester by-election
The Tories duly lost the Chester by-election on Thursday 1st December, in fact they were trounced. Their candidate, Elizabeth Wardlaw, a nice nurse from Congleton, ran a good campaign but was hopelessly lumbered by Rishi ‘von’ Sunak, the deeply unpopular Prime Minister. There is a widespread perception that ‘von’ Sunak is not really in charge. He isn’t – like Boris Johnson he’s only the monkey, no offense intended. The organ grinder is the Kabinettratsführer, Simon ‘von’ Case.
Given the way in which Rishi seized power Elizabeth, like every other member of the Conservative Party, was deprived of a vote in the second leadership contest, if contest is not too strong a word. I’m not sure for whom she voted in the first round, but she seems quite sensible with respect, so it was unlikely to have been Rishi.
The MSM have portrayed the vote as a big win for Labour. It was a win, but not a big one. The turnout was only 41.2% and Samantha Dixon, the winning Labour candidate, only received 17,309 votes, almost 8,000 votes down on the disgraced Chris Matheson (Labour) in 2019. It looks like Tory voters stayed home, in their thousands.
It’s likely that this desertion will be repeated, on a much larger scale, in the next general election, likely to be in January 2025. There’s simply no reason for any true conservative to support this catatonically useless government, no offense intended. Almost the entire Cabinet is house-trained. They’re also intelligence illiterate.
Der Kabinettratsführer, Simon ‘von’ Case, has a veto on policy. Even when the government adopts a sensible policy, such as further deregulation of the City, the Civil Service will most likely sabotage it. The deregulation policy announced last week was just a PR exercise, very obviously in an effort to stop further defections to Reform UK.
The government is rudderless, led by a man who’s had a charisma by-pass, no offense intended. Too frightened of the Cabinet Office and the French to take the necessary measures to stop illegal immigration across the Channel and too scared of the unions to ban strikes in essential services the overwhelming impression is of a government in office but not in power. Lacking anyone of intelligence the government is quite incapable of taking the argument to the global warming lobby. They can’t even keep the roads open.
There is hardly any point in the Tory Right trying to take back control. They don’t have a leader and are both tactically inept and naïve. Even if they managed to depose ‘von’ Sunak they wouldn’t be able to control centrist MPs. The humiliation of Liz Truss demonstrated that.
If the charismatic Nigel Farage returns to lead Reform UK the trickle of senior defections is likely to become a flood. Enough Tory MPs may defect to bring down the government. Under the first past the post system Reform candidates wouldn’t need to get 50% plus 1 of the vote to win a seat. The left wing, centrist and global warming nutter vote would be split between Labour, the Lib Dems, the Greens and the rump Tories. Reform could win some seats with only 35% of the vote. Moreover, since this is Britain, not the State of Georgia, it’s likely that the votes would be fairly counted.
There is no great enthusiasm for Labour. It would just be swapping one group of house-trained idiots for another. Like ‘von’ Sunak, Sir Keir ‘von’ Starmer is uninterested in solving the country’s problems. Instead of addressing the real issues Labour are obsessing on abolishing the House of Lords, which would create huge problems and lead to decades of warring between the two elected chambers. Parliament would also lose its only intelligent members.
The House of Lords is the only chamber with serious expertise. The Commons is dominated by careerist politicians – hardly any MPs have actually achieved anything outside politics. The quality of legislation would deteriorate even further, indeed there would be serious question marks about whether Labour’s proposed ‘Parliament’ would in fact be a Parliament at all. How could its measures equate to an Act of the Imperial Parliament at Westminster?
An elected Senate, howsoever described, composed largely of career politicians could never command the respect even the current House of Lords, dominated by life peers, does. The obvious answer is to abolish life peerages, allowing the existing life peers to die out, and bring back the hereditaries. You cannot govern an advanced industrial democracy with only stupid people.
The German Coup
Britain is not the only country with a rubbish government and a legislature composed largely of idiots, no offense intended. If anything the German government is even sillier that the British government, and that’s saying something.
German democracy has been a failure, thanks largely to the DVD, indeed the Federal Republic of Germany, unlike say Russia, is not a meaningful democracy at all. The German deep state, a.k.a. the DVD, exercises far too much power.
Unsurprisingly it turns out that a powerful group of former intelligence and military officers, including the capable Rüdiger von Pescatore, has been planning a putsch. Derided as ‘neo-Nazis’ by the MSM they don’t sound very much like Nazis to me. The plan was to install His Highness Prince Heinrich XIII as Kaiser. It looks as though they were intending to shut down the DVD. It was never going to succeed of course – the DVD’s eavesdropping capabilities, unrestrained by German law, are simply too all encompassing.
The planned talks with Russia sound interesting. I suspect that they were hoping to recover East Prussia, currently owned by Russia. I assume that they would have withdrawn Germany from NATO and the EU. The plan would greatly have reduced the chances of a Russian attack on Germany.
The German media are making fun of the plotters, but they may have the last laugh. I have been arguing for years that the only way to close down the DVD is to break up Germany, which means a short war, preferably on two fronts. Installing Prince Heinrich as Kaiser would have obviated the need for war, and kept German casualties low. This could be one of the more intriguing ‘what ifs’ of modern European history.
Just as the MSM and politicians never saw the Russo-Ukrainian War coming (as all y’all know, I did, as far back as November 2020!) they aren’t asking themselves the obvious question – what does Russia do after beating the Ukrainians? Germany is the obvious target. If the Poles try to resist that would open up the opportunity of restoring Prussia’s eastern frontier – in other words smacking the Poles about as part of a general restructuring of central Europe, which would see the disintegration of both the EU and the Federal Republic of Germany. An enlarged Prussia, regaining both the territories lost to Poland and East Prussia, would be a viable state.
Splitting Prussia off from Bavaria would a huge strategic gain for the West. We may not have heard the last of Prince Heinrich, who comes across as a decent old stick, if I may say so, with excellent dress sense.
I’m glad that the MSM have moved on to Harry and Meghan, who have resorted to pushing the fatally flawed Critical Race Theory. I don’t believe for one moment that dear old Lady Hussey is a racist, any more than the Royal Family are. I would have thought that one of the many black and Asian people Lady Hussey met when accompanying the Queen on Her many tours of the Commonwealth might have noticed if she were really a racist. I have also heard that the poor lady may be slightly deaf, which would not be surprising, given that she is 83.
Lady Hussey of course is the widow of the great Duke Hussey, a distinguished chairman of the BBC Board of Governors, who lost a leg at Anzio, poor man. Her accuser is a black activist named Marlene Headley, who changed her name to Ngozi Fulani.
Fulani, to whom I have copied this column as a courtesy (when I say that I mean it – I had a charming reply from a colleague of Herr Professor Eisenmenger, giving further information on the DNA tests on our community partner SS-Obergruppenführer Martin Bormann (now he really was a racist!), runs a charity called Sistah Space. The further information on the Bormann DNA test did nothing to cause me to change my analysis of the approximate date of Bormann’s death, by the way, although I’m quite sure that I was right not to doubt the good faith of Professor Eisenmenger.
Very frankly, I would need independent corroboration before accepting Ms Fulani’s version of the encounter. It’s clear that the two ladies met at the reception at the Palace. The dispute is over what was said, how often things were repeated if at all, what was meant and whether anyone asked Ms Fulani to target Lady Hussey.
Some decades ago I recall reading an excellent book on racism by a black professor at an Ivy League college. He pointed out that liberal racists are often reluctant to criticise black people. He used to taunt them by proposing nonsense in faculty meetings and watching them agree with him! Black and Asian people should be treated on their merits. To do anything else is to patronise them.
If a black or Asian person needs calling out I will call them out. I spent many years campaigning against apartheid. I well recall spending at entire night outside the South African Embassy in Trafalgar Square, holding a vigil for three nice young black members of uMkhonte we Sizwe, the armed wing of the African National Congress, who were due to hang in the morning.
We were joined by that lovely lady Adelaide Tambo, wife of Nelson Mandela’s law partner Oliver Tambo. I shed a tear when the hour of the young men’s execution arrived. Adelaide, later murdered by the ANC, would have scoffed at Critical Race Theory. She really was delightful – I well recall her diving into the audience at an Anti-Apartheid Movement annual conference to give me a great big hug, causing the mouths of the more left-wing members of AAM to drop. My record on issues of racial justice is there for all to see.
As we saw with the malicious prosecution of Derek Chauvin for the alleged murder of poor old George Floyd black activists are perfectly capable of lying, no offense intended. (As I have explained before on these pages Floyd had taken a fatal or near fatal dose of fentanyl, which would have depressed his respiratory system. He was then placed near the exhaust pipe of a Ford hybrid police vehicle, which may have been wired in such a way that the engine restarted if the battery needed charging, in other words the engine may have been running without the officers’ knowledge. Floyd’s CO level probably built up to a fatal level.)
Regular readers will be aware that I have been privy to important information coming out of the Palace, such as the time and cause of the late Queen’s death. The Cabinet Office have been trying to trace the source of the leaks and may have alighted, unfairly, upon Lady Hussey. (For the avoidance of doubt Lady Hussey and I have neither met nor communicated – my principal contact at the Palace was Prince Philip, who got a message out to me before he died.)
The news, broken here well before it came out in Gyles Brandreth’s book, that the late Queen died of bone marrow cancer, or myeloma, is potentially highly significant. I understand that myeloma can be induced, which raises the question of regicide. If our beloved late Queen was indeed murdered then the consequences will be huge, since GO2, the covert German agency which tried to murder Her in 1982, would automatically come under suspicion. GO2 of course murdered Her beloved Father, King George VI, and husband, Prince Philip, in each case through induced cancer. (That’s what the message was about.)
Assuming that the current regime in Germany is not overthrown confirmation of GO2’s involvement would mean all-out war with Germany. Everyone involved in the regicide would need to be executed, after a fair trial at the Bar of Parliament of course.
The late Cabinet Secretary Sir Robert Armstrong, a truly nasty piece of work, no offense intended, signed off on the 1982 attack and should have been hanged at the time. (Hanging is no longer available, sadly, so the regicides would need to be executed by decapitation at the Tower, nicely of course.) Inevitably Simon Case’s case, as it were, would come under review.
As a constitutional lawyer I am opposed to going down the road of extrajudicial execution, as in the case of the most recent Cabinet Secretary to be executed, Sir Jeremy Heywood, who was taken out in 2018. I am aware of course that his case was considered with great care. He deserved to die, no offense intended, but it should have been done properly, by the State Executioner at the Tower, with appropriate ceremony, after a slap-up breakfast.
The World Cup
We were robbed! The refereeing of last night’s quarter-final with France was a disgrace, no offense to the Brazilian ref, Wilton Sampaio, intended. His finances will need the most careful investigation. The UK should now wage an intelligence war against FIFA – every corrupt official will need to be named and shamed. England should have won 2 – 0, as it happens the same score line as at the Battle of Oran, when we beat the French two battleships to nil.
The British government will do nothing of course. Weak and ineffectual, Rishi Sunak’s administration is no more capable of standing up to FIFA than it is to the Cabinet Office, the ChiComs, Albanians crossing the channel and the unions. We need a new, right of center government, able and willing to stand up for Britain.
Sampaio has done enormous damage to Anglo-Brazilian relations. For at least the next decade we will wish to take advantage of every opportunity to heap hurt and humiliation upon the Brazilian enemy.
Last Wednesday was of course the 81st anniversary of the sneak Japanese/German attack on Pearl Harbor. (Jerry flew the dive bombers, the Imperial Japanese Navy having no experience in dive bombing ships.) The good men who died that day on board the USS Arizona (BB-39) and other fine ships are not forgotten.
I am delighted that SecNav has agreed to name CVN-81 the USS Doris Miller, after Messman 2nd Class Doris Miller, who shot down at least four Jap planes at Pearl, without ever having previously fired an AA gun in anger. He was a brave man, who deserved his Navy Cross. His subsequent death, in combat in the Pacific, in 1943 was a tragedy. He didn’t make excuses. He saw his duty and did it, defending his shipmates aboard the USS West Virginia (BB-48).
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