Kostas Kavvathas

Welcome To 2024. Communist Social Credit System Arrives In The UK, Coming Soon To America UK Banks Are Woking With Social Media Companies To Monitor Comments & Suspend Bank Accounts Former European Parliament Member Nigel Farage Has Been Refused By 10 Banks & Can No Longer Get An Account Due To The “WOKE Financial Industry” “If this isn't nipped in the butt we are heading towards a Chinese communist style social credit system because you know, if you're debanked, you cannot exist. You become a nonperson. This whole new woke corporatism has extended so deep into our big financial industry that I've now been refused by 10 other banks this isn't just about my bank account being closed. We've seen several public figures now coming forward since I spoke out to say, and in one case, extraordinarily, the granddaughter of Nigel Lawson, who'd been chancellor of the exchequer 35 years before, the granddaughter had been declared to be a politically exposed person and couldn't get an account. What worries me even more are the thousands of businesses, small businesses, we've been closed down this year with no reason given to them whatsoever. So the idea that banks will have to give a reason closing accounts, I think, is a big step in the right direction. Clearly, a decent notice period matters. Uh, but, also, I think the right to appeal is very important. Now at the dispatch box yesterday, when Rishi Sunak was challenged on this question, he said, well, of course, you can always go to the financial Ombudsman, but there's a bit of a problem there. Friend of mine, a former city trader, was debanked by Coutts 15 months ago, um, he wrote to the ombudsman. He continues to write to the ombudsman. He still hasn't got an answer. So these aren't just normal private companies who are making commercial decisions about who can bank with them. Mhmm. This is industry. It's of its greed and stupidity had to be bailed out by us, the taxpayer, just a few years ago. I promise you this. If the government doesn't act, this will get much, much worse. And here is why. There's a company called Refinitiv. They are a global organization that do credit ratings on all of us. You and me included. Refinitiv are now working with UK banks with modern technology to monitor the social media comments of the bank's customers. If Joe Blogs says something on Facebook that doesn't align with the bank's values and purpose, whatever that's supposed to mean. They now face the danger of being closed down. And this may sound an exaggeration, but I mean it. If this isn't nipped in the bud, we are heading towards a Chinese communist style social credit system.”