Editorial

Banking Nightmare

07 Jul 2023 Editorial

Implications of the Bank Account Closure Trend

PT Introduction

Last week’s announcement by Nigel Farage that his bank was closing his accounts – with no further explanation given – caused a sensation-storm on social media. Regardless of people’s personal views on the former Ukip leader, thousands rallied in his defence, with little doubt that the actions were politically motivated. The bank in question is Coutts, the famous centuries-old private bank owned by NatWest.

Coutts belatedly offered the explanation that his account was being cancelled because Farage fell below the financial threshold required to hold an account with them. But such ‘commercial’ explanation rings increasingly hollow given Nigel’s insistence that at no point in the last ten years was he required to have a minimum threshold with Coutts, who are looking increasingly red-faced with the further disclosure that many customers of the prestigious bank are now saying they fell below financial thresholds but, unlike Mr Farage, have not been threatened with account closure.

Equally worryingly, Farage disclosed that three other members of his family have also recently had accounts closed by UK banks. Other significant bank account closure stories have since come to light (see News page). 

In the past few days, a number of government ministers have expressed the need to scrap current EU rules which allow to discriminately close customers’ accounts because of their political views - raising hopes that this will soon be enacted under UK law.

The ‘cancellation’ of Nigel Farage’s bank account raises very worrying questions indeed. But as Colin Wilson makes clear in the account below, it also reveals a series of other massive issues.

Wake-up call

The headlines in the UK should have been screaming at us 18 months ago when President Trudeau froze the bank accounts of the Canadian truckers and their supporters who were protesting the government’s vaccine mandate. But, of course, the report lay buried in the Canadian section of the BBC’s website. Never for The 6 o’clock News this story (nor, notably, was the Farage story for that matter).

Accordingly, if Farage’s plight serves as a much-needed wake up call, then that has got to be good.

However, and aside from the legacy media’s role in ignoring or covering up important developments and the public’s ignorance of same, there is also the failure in the UK Christian community to root out and latch onto these vital developments; not that is until they finally appear on the mainstream news. It is little wonder then, that Jesus warned regarding His second coming, that people will again be complacently ‘eating and drinking, marrying and giving in marriage’. Accordingly, if Farage’s plight serves as a much-needed wake up call, then that has got to be good.

The screw is tightening

In the refusal by numerous other banks to handle his funds and Coutts' refusal to come clean on why they have taken the same stance, the now-cancelled city trader/politician/media presenter posits a variety of reasons for his plight. These range from ‘false’ accusations of links with Russia, to having fallen foul of ‘politically exposed person’ rules, to his Brexiteer activities. (Indeed, two former Brexit Party MEPs also had their bank accounts cancelled when elected to the EU Parliament in 2019.)

We can expect to see the imposition of ‘Environmental, Social and Governance’ (ESG) dictats moving companies to adopt such discriminatory policies which will be used by potential shareholders in making investment decisions.

High Street banks are commercial operations and they, like any other company, can make their own rules. A couple of weeks ago the Wickes’ chief operating officer declared that trans-critical shoppers “are not welcome in our stores”. More recently, the Yorkshire Building Society has reportedly cut ties with a client who questioned the use of Pride flags in their branches. We can expect to see the imposition of ‘Environmental, Social and Governance’ (ESG) dictats moving companies to adopt such discriminatory policies which will be used by potential shareholders in making investment decisions. The screw is tightening all the while.

Following China

But it is not just banks and companies we need to be watching out for1 in our woke-infested, politically-correct, neo-Marxist world. Indeed, if truth be known, the UK government is well on its way to introducing a Central Bank Digital Currency. When this is tied to an individual’s Digital ID – being adopted by the EU and (incrementally) heading our way – it will allow any government to ‘switch off’ access to funds for anyone who challenges the mainstream narrative2. Along with Ofcom, one of the main arbiters of what is ‘right think’ is likely to be the newly-launched BBC Verify unit. Welcome Orwell’s ‘Ministry of Truth’. And all this before AI-moderation kicks into high gear. Heaven help us.

Behave yourself and you can live a measure of normal life; stray from the government’s ideological path and you will be punished.

This dynamic exactly matches the Chinese Communist Party’s Social Credit System. Behave yourself and you can live a measure of normal life; stray from the government’s ideological path and you will be punished. Access to travel, goods, services, education, community and government facilities will be restricted or barred. The more serious the ‘offence’, the harsher is the punishment, and the longer the duration before rehabilitation if subsequently evidencing sustained ‘good’ behaviour.

Alongside Orwell’s ‘1984’ and ‘Animal Farm’ sits Huxley’s ‘Brave New World’. These can be conflated as a summary of the globalist’s Agenda 2030 ambitions. To quote Mr. Farage himself: “If they can do it to me, they can do it to you too”.

Christ warned His disciples then: He warns them now. “What I say to you, I say to everyoneWatch!’" (Mark 13:37).

Notes
1. Thankfully, the banks have had a shot across their bows.
2. While there has been much speculation regarding the ‘Mark of the Beast’ (Rev. 13:16-17) and the form it might take, there can be little doubt that these developments are indicative of the direction of travel. (Cf Ezek. 9:4; Rev. 7:3; 9:4)

Colin Wilson is on the editorial board of Prophecy Today and is Editor of the website ChristiansTogether.

Additional Info

  • Author: Colin Wilson
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