The Big Brexit Short

On the night of the Brexit referendum the British pound went into free fall, but while many watched with horror, a handful of hedge funds were making staggering profits. This is the story of the Brexit Big Short. Featuring Bloomberg writers Cam Simpson, Gavin Finch, and Kit Chellel.
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[@business]

Read the full article on Bloomberg BusinessWeek: www.bloomberg.com/news/features/2018-06-25/brexit-big-short-how-pollsters-helped-hedge-funds-beat-the-crash

[@mikefatah]

Bloomberg Excellent work!

[@haveaseatplease]

Thank you for this important investigative piece. Subscribed.

[@curtiscarpenter9881]

I think even looking at now considering this is a year old, covid-19 has done worse if you look CANZUK and TTP and compensation which we should get from China brexit is half a story to half a true tale.

[@BestGamingChornicles]

I am really glad this kind of investigative journalism still exists in a world where shallow news is usually valued more than deep dive stories

[@Happin3ess]

In the pandemic, journalists were just going to supermarkets at the end of their day and finding stories there. Lazy reporting.

[@adeelhussain2304]

I am really digging this new series from Bloomberg. Quite honestly its shocking how much truth is hidden within the data and how rampant insider trading is.

[@business]

Thanks for watching! More episodes of Storylines will be coming soon.

[@MrAdeelAH]

Hello me?

[@meme-bz6iw]

"Quite honestly its shocking how much truth is hidden " is really painful that you were sleeping before in order to realize this now.

[@colinstephenson5386]

Vivienne I’m not saying its not true, different sides, someone will profit and the best till the last in big letters the ‘ordinary” people want out ? So you’ve just told the world that you are aware of a problem but you’re not willing to investigate the situation because you are ok to believe/follow what someone else tells you and worst of all ‘ordinary people “ are just as stupid as your proudly telling the world you are ,

[@dANNNimal]

The point is farage and boris aint the ones who have the ordinary mans back with people like this behind them. Other than the lib dems all the opposition are still committed to leaving.

[@kk22383]

Now this is good journalism!

[@aweebunny]

I knew this story was crap when they say "Nigel was rude to the waiter just because the waiter was Spanish. BS meter broke the needle.

[@trollop_7]

@Kk L Because it tells you exactly what you think you want to hear?

[@dimiathan]

@@trollop_7 Which part was a lie? The fact that Farage spoke about ''Remain'' win or the freefall of the pound?

[@minimead368]

Yeah but it still won’t make the 10 o’clock news thanks impartial bbc 👎

[@chubeye1187]

@@aweebunny you still doffing your forelocks sooner or later you will have to admit you have been conned

[@watchdealer11]

*How are these journalists far more effective than the securities agencies?!*

[@Ray-md9nr]

if security agencies had investigated or convicted a political figure they would have been categorized as political weapons

[@conors4430]

because the journalists didn't used to work in the same industry nor were they appointed to their position because of the opinions they already heold over the top pf others who might actually do a better job. called corruption. half of the people in the regulators for finance either did work in finance or end up working in finance, or they have been appointed by politicians and people who know they hold a view that will not rock the boat.

[@samwoodward4794]

Because they don't seemingly have the same requirement for needing evidence to substantiate their accusations.

[@NUFCOfficial]

Because they work on speculation and they say all these things without evidence like the insinuation that he was instantly racist

[@mark_zuck]

Everything they talk about in this video is speculation and conspiracy theories, security agencies don't make speculations based off false facts, I get sick of media sources creating these false claims with no evidence, its annoying and stupid but they know people who want to hear it will always bite into it.

[@stevensamuel4634]

Now that's a financial crime that's probably not gonna get prosecuted because rich people....

[@harryburrows2112]

"because rich people."

[@shoulders-of-giants]

Yes. The rich *always* win.

[@IIAndersII]

@Frank Garrett his skin colour doesn't really matter. Please don't bring race into this.

[@andrewduan5123]

Frank Garrett literally has nothing to do with race or gender but ok

[@MegamanTheSecond]

idiots minds are too weak to go and do research on how these things work so race and gender and class are simplifications but more so a public announcement that they are idiots. rich people are smart and know the law thats why they are rich and dont get prosecuted they system is at fault here we dont shoot lions because they kill zebras now do we?

[@thegreatmonster]

And Nigel worked in what... yes, you've guessed it right, the derivatives markets!

[@guillermoibarra2470]

He's literally said it multiple times before and it doesn't take too much time to look it up, you lying eunuch.

[@thegreatmonster]

'... Commodity markets can include physical trading and derivatives trading using spot prices, forwards, futures, and options on futures. Farmers have used a simple form of derivative trading in the commodity market for centuries for price risk management.' [from: Wikipedia]

[@martinkrastev6215]

It's amazing that Nigel Farage, this 2nd generation migrant himself caused the biggest injury onto the Western World - Ever! Now with this step, Europe officially gave its strength and influence to China. Until now all europeans studied English as well. Not appreciated by the grandfathers and grandmothers of England. Pity they betreayed us all.

[@georgesotiriou7051]

Frank Stallone

[@californiadreamin8423]

Brad Smith No of course not.....just the pound in your pocket !! 18% devaluation since the referendum, and David Davis is predicting a further 20% fall for a WTO Brexit . Of course it doesn't mean anything to you , but to the majority of the U.K. struggling to make ends meet, it means everything . Glad I don't live in Swindon.

[@mightbesherwood1313]

Bravo, Bloomberg. Don't let this go. And seriously, be careful when you start your cars in the morning.

[@gazlink1]

They'll be fine, people are targets of political violence when they criticise the left or the EU, not the right or Eurosceptics.

[@Denis5966]

@@gazlink1 Like Jo Cox?

[@josephstalin7389]

Ture

[@alastairbarkley6572]

@@gazlink1 Who has received violence for criticising the EU? Bollox, mate.

[@roro-mm7cc]

@@gazlink1 uh no.. the really rich powerful ppl are the ones who wanted leave the most - I went to Eton and the most elite and rich families were the ones who wanted to leave the most (the more middle class ppl/ academic scholars wanted remain) and they were rubbing their hands together at the referendum result - they could not believe their luck that they had fooled so many poor people into thinking voting to leave the eu would make their lives better.. in fact its only going line the wallets of the rich elite and make life for the poor even worse.. the nhs may even collapse as drug prices rocket - in the uk we have limits on drug prices due to eu law however the US is pressuring the uk to remove these limits in the US drug prices can be 1000% more expensive than the uk... its big business. Nigel farage himself said he wants Britain to move to an insurance based healthcare system.... I honestly cant believe how many people have fooled for their propaganda campaign.. the real sign of great propaganda is when the person thinks that what they are doing is going against the establishment when in fact it is only serving the richest elite in our society who have been held back by eu laws that stop tax evasion ect.. for example Cambridge analytica has engineered so many political campaigns using our data including trump and Brexit - in another country they engineered a campaign which targeted the youth to get them to not vote at all allowing the party they were working for to win - the ppl thought their movement to not vote was anti the political establishment but it was in fact engineered by the richest and most powerful... that is scary.. ppl dont like to admit they have been fooled but yeh I know for a fact you all have.. I know many ppl who come from families who are laughing and rubbing their hands together cant believe they actually managed to get away with it.. they call you stupid common sheep for buying into their horseshit propaganda which they admit themselves... you have been played for fools.

[@kangokidkidd4037]

Wow that had my attention till the very end...BEAUTIFULLY DONE...keep up the good WORK...those inside traders SHOULD ROTT in jail

[@itseveryday8600]

nigel worked in the city in commodities trading for over 20 years. his father was also a city broker.

[@pre1694]

I really like your name lol

[@artificialgravitas8954]

Almost like he's not a working class hero

[@harryburrows2112]

​@@artificialgravitas8954 Nice strawman. He wears tweed suits, went to Dulwich college has a rather posh accent... Its almost like he has never purported to be a working class hero!

[@nntflow7058]

@@harryburrows2112 Because he is traitor?

[@maxcuthbert100]

@@artificialgravitas8954 He's about as working class as a Faberge egg.

[@AK-74K]

Holy shit, that's a hell of an allegation! Hope to hear more on this

[@eduardgherasim2896]

Yeah an allegation.. but no actual proof so seems more like a liberal bullshit misleading propaganda story. Remember how they were totally wrong when it comes to Trump winning the election too?

[@AK-74K]

@@eduardgherasim2896 I am not sure that I agree with the treason part, but the allegation that Farage was financially profiting from announcing twice that remain has won is pretty strong - he admitted himself that he has spoken to his pollster and the excuse of why after his conversation he still said that remain won is absolute horseshit - anyone can see that

[@TheNinetySecond]

@@eduardgherasim2896 It's been established thoroughly that the polls were correct to a very high degree. Practically all of Trump's wins were well within the margin provided by pollsters, thus the discrepancy between his electoral win and his democratic loss. This is all pretty fucking easy to check for yourself. Find three of the "worst" (in your opinion) polls and actually look at the data and the margins they themselves provided. Cross reference that with the final election data, and do some quick math to see if the final results fit within the margins provided.

[@reapthewhirlwind2114]

@@eduardgherasim2896 False equivalence.

[@josephk7946]

@@eduardgherasim2896 they've demonstrated that he misled the markets (2nd statement) based on the information he had to hand. In order to believe he did not do this deliberately we have to believe his story about nerves or whatever.

[@spiritualanarchist8162]

Solid 'Follow the money' journalism

[@Ray-md9nr]

similar thing is happening here in the US

[@theanarchonazbolinquisition]

It's like Rothschild and Waterloo all over again...

[@carlob517]

absolutely correct not the same result however Rothschild's won control of the Bank of England

[@jogriffiths5766]

@@carlob517 OMG !!! First I've heard of this!! Thought there was sommit fishy about the-Oh so straight- Nigel !!!

[@tiddlerz]

why hasnt this story being blowing up?

[@mullerstephan]

because there is nothing to it.

[@davidd.c.9344]

Because it was a bunch of BS.

[@CYCHIATRIC]

Why hasn’t Farage been criminally charged?

[@boum62]

Excellent report !! I am a Brexiteer 100% and would draw your attention to the fact this report does not make a statement that indicates Farage's culpability. What it does now make me wonder is why the polls are so often wrong ! Trump, Conservative win , Brexit referendum etc - this cannot in anyway be put down to Farage but a systemic problem with the money Markets

[@pipster1891]

Why have I not heard anything about this in the British media?

[@artaniskim2120]

@Nobby Heads idiot... you believe this non sense?. Do you know how much money you need to move the market like that ?. You need hundreds of billions or trillions to do that. Hedge funds? psh.. its the big banks you idiot... and they are using hedge funds to blame the game which the banks already won.

[@annoloki]

@@artaniskim2120 You really haven't got a clue. They're talking about futures, derivatives, they're not trading on the value, they're trading on the difference between different predictions of what the value will be, and the point is that he used insider knowledge to spread the right misinformation that would push the pound up, so that future options could be sold at a high price, while illegally knowing the price would be low once the currency traders found out what he already knew. Just like how Rothschild got so rich by creating panic about Waterloo, except completely illegal. You should probably also learn about the role of speculators on "black wednesday" in 1992 before you go shooting your mouth again, idiot.

[@artaniskim2120]

@@annoloki believe whatever conspiracy you want to believe... the fact that you support the very people with Bankers, the EU. = anti-democratic organization, you are just outright stupid.

[@johnrobinson4445]

Because it is owned by Rupert Murdoch, creator of Fox News and destroyer of nations.

[@DaPeePeePooPooCheck]

@@artaniskim2120 How does it feel knowing that you got conned by the Brexiter grifters?

[@MrWeaselwork]

Finally really good journalism guys. I hope someone actually get held to account for this.

[@AtheistEve]

So, what we’re saying is: hedge funds shouldn’t exist.

[@renatagross5959]

How frustrating for the British people to have been so manipulated by such unscrupulous people.🇬🇧

[@Enrygie]

They voted for this madness as in MPs and the referendum . If they had issue VOTE them out of house 🏠

[@billyshears5569]

Yep. I voted leave because I wanted to preserve democracy ( I didn't/don't trust the EU set up). Turns out that UK democracy in itself is pretty dysfunctional. Now we see that the propogaters and drivers of the Brexit movement had their own set of vested interests and cronies in the city profiting from the whole debacle. Interesting how Jacob Rees Mogg runs an £8billion fund. Would be interesting to see how Somerset capital performed on June 23rd '16 🤔

[@barryfowles-zl5ib]

@@jayh1096 It could be worse at least us smug Brits don't have Donnie Bonespur.

[@alastairbarkley6572]

@@billyshears5569 Many Leave voters now realise how cynically they've been conned and manipulated. Brexit isn't anything to do with sovereignty and making Britain successful - it's about making obscenely wealthy people even richer and then avoiding tax on their gains. Sickening, mate. Respect to you for your honesty.

[@billyshears5569]

@@alastairbarkley6572 long story short, our politicians have their own agendas and don't represent the interests of the people. Roughly 50/50 of the electorate are leave/remain, while I'd guess at least 80% of UK politicians are remainers. Hence Brexit hasn't yet happened. Meanwhile, out of the small proportion of politicians who actually want to leave, they are all either super rich old money ( Rees Mogg), plain weird ( Michael Gove) or have far right connections (Farage). Even his initials are NF

[@hacker010010101]

Seems like an interesting series. Cant wait for more!

[@theconversation9103]

High quality journalism. The financial regulator's gonna let you down tho

[@artaniskim2120]

High-quality Journalism?? This is why the majority always drive themselves to repeat the same mistake over and over again throughout history. Have you ever looked into the stories of the 1992 ERM crisis and the Asian currency crisis, and also the Russian Ruble crisis?. The traders are there to profit from the market movement, so they simply facilitate the trend. Is that so wrong?. How many big banks do you think were involved in this big trade?. Does Bloomberg mention any banks?. Do you think Nigel has trillions of dollars to move this market ?. Can you actually think for yourself, other than just believing what the Media says?. You need to ask a lot of questions to yourself before you rush to make a judgment. Did you know that Michael Bloomberg, the CEO of Bloomberg news, supported the Democrats in the US, and he also endorsed the EU?? Do you think the Media is so accurate and unbiased ?. The media has always been the major player to manipulate the market and Bloomberg has been the one to do that... over the past years, i have learned that whenever Bloomberg writes the story they keep using "anonymous source " which most of them were turns out to be false news as Reuters investigate the Bloomberg stories. Bloomberg editors make more salaries if their stories can move the markets.... So they often make false news and obtain inside information illegally. So who do you think is the bad guy here?. Did you ever find out the actual evidence that Nigel had his short position on the British pound ??. I have never seen any media coverage about that... and its pretty easy to find for these people in the media. Please wake up... you have been told lies by the media all the time, and you still think "This time is different?". why don't you just sign to go to war, if the media says All Russians are bad and evil?.

[@gaurishkohli83]

Love the way how Bloomberg laid out this story of Brexit and its unfolding through the experience of select hedge fund managers

[@Fatboy0777]

so markets are all manipulated and full of insiders... tell us something we don't know

[@dafuq1933]

You already know everything. But people have short memory, are too lazy to ask for changes, and it's only by reminding them how things go wrong that lawmakers feel the public pressure to act and do something about it. Change only come through repetition. This is unlikely to be enough, so it will repeat eventually, get denounced, investigated, and repeated. History is a loop.

[@johannesbusch8161]

Seems not enough people knew. Poor Brits.

[@boskee]

@La Corneja Will they?

[@filipebet]

Well, I didn't know that there's a possibility that Farage colluded to help move the markets that night in order to increase profits. That helps me understand his idiotic speech so early in the night.

[@LostieTrekieTechie]

Guillotines when?

[@ulligoschmidt4189]

I start wondering.Sometimes ,comes to my mind, a guillotine is not such a bad thing at all.

[@TheSpynerd]

for who?..they've been smart and profited on stupid people

[@SophyaAgain]

Too fast and painless.

[@mattsyson3980]

Would make great 'reality TV' and act as a salutary lesson to those who abuse 'power'.

[@humblehuman85]

Farage is worst thing happened to modern day united Kingdom.

[@billybeck8169]

These journalists are the best of Bloomberg QuickTake, it would be great to see more of them

[@sharonsuddaby3473]

Share this on facebook and twitter and make it go viral ... people should know.

[@Jamie_Johnson]

It's telling that the big organisations with plenty of money, and the megabanks, also with plenty of money, are all trying to very hard stop brexit. I'm sure it's because they care so much about ordinary people!

[@ParcelOfRogue]

This is potentially illegal under electoral law and under insider trading law.

[@MultiSciGeek]

Top quality journalism right here! Love the behind the scenes interview of the authors. Please do more of these if you can.

[@mk1st]

Farage is like the kid at school who tells lies behind people's backs and relishes when they come together to fight. And takes bets on the fight.

[@shoulders-of-giants]

The rich *always* win.

[@sillylittlemonkey7130]

The sad cycle of Britain

[@omanvictory4011]

They got punished in nazi germany. But ultimately won ww2

[@tehrealfake]

Even when the methods by which the rich get their unfair advantage are illegal, who cares. If you have enough money you're above the law. When you're above the law you can make even more money. And so the cycle continues.

[@kamanashiskar9203]

Well, this the truth. The UK was looted by the British Rothschilds in 1815.

[@gbjohn6826]

Nigel sell Uk he makes money and his family next 5 generations don't need to worry about money UK will recover the money from people who work and pay double taxes /council tax/food more expensive clothes to end life will be more expensive

[@jeromefitzroy]

Well you get what you voted for, we had Trump and now we threw him out. The UK should

[@sqwale7]

follow anyone who shorted the pound and is linked to him. Follow the money, always!

[@fernandor3854]

Imagine waiting 9 months of agonizing pregnant pain just to call the kid Nigel

[@dylanroberts2580]

Imagine waiting 9 months of agonizing pregnant pain just to call the kid Fernando

[@gerbenvanessen]

@@juliusnigelmarturillas3629 Hi my name is Gerben. Nigel is a bad name.

[@jawonsh1592]

Fernando is a worse name lol

[@More_Row]

Stop being so shallow.

[@DinoWinoSaur]

Great reporting Bloomberg. Keep this series going.

[@User-vz4xm]

How is Farage not in jail for this?

[@aneeshprasobhan]

money

[@User-vz4xm]

@sailorashoreprobably if they were being caught and had a featured video on Bloomberg.

[@User-vz4xm]

And how is the 1000s traders happen to be also MEPs (with concerns to public interest) at the same time?

[@josedourado3747]

Farage offshore business says he's a British hypocrite

[@carolynshaw9823]

One of the biggest financial backers was Rober Mercier who is an altra right wing American Christian.

[@carolynshaw9823]

I truly believe this story

[@giraffe640]

K L and French roots

[@erijeh]

Apparently his teeth are being deported in April for not being white enough

[@matthewbrown3420]

@@Dimsum365 German wife actually.

[@nicholascherry5962]

Most interesting piece from Bloomberg! On time and thrilling, thank you!

[@Coolsomeone234]

Looking forward for this series

[@dresdenkiller]

The fact that farage is not behind bars, shows how much protected he is.

[@johnmcgrath200]

I remember reading this story in Private Eye last June. I can't believe this all has not become common knowledge yet.

[@boshengjones1778]

The damdge has already been done. We'll just wait another 40 years to rejoin EU.

[@rja421]

The fact that financial companies were commissioning private polling was widely reported before the vote took place and was said to be considered legal. It is not inside information as anyone can commission a poll of their own. It is plane wrong to say this isn't publicly available information.

[@victornderu143]

I am amazed that you were able to look deep into these events and you got incriminating evidence of this magnitude.

[@bassofclubs]

I’m even more amazed that they weren’t subsequently disappeared.

[@nigelcooper878]

I still cannot believe that so many of the British public were so gullible to believe this little con artist.

[@tundeogunsanya2281]

This is huge!

[@maxcuthbert100]

Should be,but we live in an age of diversions.

[@nicholaswoolfenden5254]

Of course. Yet Brexiters don't get it. They have no curiosity, sheep. A huge con. Mogg Farage etc did splendidly! Which is why Brexiters have lost everything. Credibility, purpose.... An empty vessel. Now they bitterly go for scorched earth, destroying as they go. Bitter losers who "won"! .

[@stdio44.32]

For anyone who follows Forex closely, the GBP pairs are always the most histrionic and melodramatic pairs, just like the British people (which is meant in the most tender way, from an American cousin). The only difference that this news story covers, is an exceptional historical event like Brexit.

[@GordonjSmith1]

Entirely not surprised.

[@manut975]

That man literally sold his country.

[@tristanpatterson3843]

Nice to see some real reporting for a change.

[@Pfromm007]

Remember when they said the British economy will have completely bounced back by now with an advantageous exit deal? Me too, and I won't let anyone else forget it!

[@aphrolith7676]

@Salterino Kripperino Sorry to burst your bubble, UK will never have a booming economy without EU. You are a product of propaganda and brain washing. Also, did you know? It is the working class that will be hit by brexit the most and not the rich :).

[@mineown1861]

Excellent series from bloomberg , the scales have fallen though unfortunately the scales shan't be balanced.

[@tomushy]

I would bet Nigel Farage made quite a pretty penny that night.

[@Penrose707]

Make this into a movie. The world must know.

[@crclayton]

This was a great little video. Please keep it up with this sort of content

[@lesleybyron662]

Why am I not surprised by this?

[@agn855]

Doesn't that mean that he will go to jail for insider trading??

[@Tereyoc]

No, there may not be enough evidence. This is he said she said in a court. But farage is obviously a cute huer.

[@lohphat]

Rich people? Go to jail? HAHAHAHHAAHAHA

[@nyranstanton203]

they also left the campaign immediately after the vote, literally...if that doesnt smell fishy i dont know what does.

[@Anza_34832]

So it took Bloomberg’s report, in order for the British financial regulator to start an investigation..?! ...London based hedge funds must really appreciate such a kind of regulator! How about moving the City of London and, well, the entire island approx. 500miles further west into the Atlantic? Wouldn’t that be great?!

[@alastairbarkley6572]

There seems to be a concerted effort to obstruct and frustrate any investigation into the whole fraudulent, corrupt referendum business. Police, National Crime Agency (British FBI), Electoral Commission and Financial Conduct Authority all moving at a snail's pace and producing nothing despite the very obvious evidence already in the public domain. Someone, or some people, at the highest level is/are suppressing the investigations. I'm 65 years old and I never imagined I'd end up living in a banana republic. This sort of thing only happens in Africa or Central America. So I thought. Never in Great Britain. Hahaha! Silly me.

[@toffeebear7133]

@@alastairbarkley6572 Very well put. Such a dispiriting turn of events

[@bossnian5615]

Please continue this series. A well documented and objective point of view of today’s happenings isn’t so common.

[@fluffyingable]

And guess who's buying up the cheap pound coins now before we end up back in the EU? hahah

[@KazenoniKakuremi]

Difficult calling this insider trading Illegal, yes. Due to exit polling embargo But exit poll sample size at time window for it to be inside trading is small, thereby increasing likelihood of it being wrong Put simply, they guessed right using information that did not rise to the level of providing information asymmetry for as many hedge funds that profited, equaln amount made a loss

[@umarslatif]

Kaboom.... What a huge bloody scoop... Nigel behind bars 👏

[@ELCNUmorFnaMehT]

The whole British political, financial and criminal system is dirty. Farage is going nowhere except to the money he's made out of Brexit.

[@adrianveress]

Quality work. Nicely done!

[@simply2ghetto]

Most Brexit Voters won't understand what a 'short' is.

[@LondonLadsArt]

Oh really...and you do I suppose, don't flatter yourself mate!

[@SloMoShort]

It makes no difference to the outcome of the referendum. The people of the U.K. chose to leave. This is just a bunch of opportunists making a few quid. Sure, they should be investigated. The same way the current government should be.

[@brianfenech10]

Hearing Farrage talking is captivating and you think he makes sense to some degree. My believe is that it was never about UK, it was all about how he can deepen his pocket at whatever the cost.

[@andrewhallam237]

Is there any politician who doesn't do this, they are all the same.

[@brianfenech10]

@@andrewhallam237 You have a point. But some do manage to act on some of their promises whilst the rest are all talk and no action.

[@TheBayzent]

It ALWAYS is. With EVERY politician. But the shortsightedness of this is baffling...

[@mattsyson3980]

Farage puts just enough 'truth' into each of his speeches to hook people in. The 'truth' bit will usually be a very short 'one liner' or a couple to engage your interest but then rapidly descends into massive untruths, again carefully selected and often taken out of context, perhaps appealing to his audience's 'base interests' like for example irrational scapegoating of immigrants or calling on the 'work' of others criticising the EU perhaps over issues that were basically untrue or at least highly selective. Then 'dressing up' to appear as a mildly eccentric 'man of the people' as yet more deception.

[@theCongoleseDude]

I am always surprised as to why do lawmakers put laws in places just for them to turn around and break them.

[@supershellybelly12]

Disappointed - yes, surprised - no.

[@meowmeow1733]

And Spitting Image STILL refuses to make content from brexit out of embarrassment.

[@bigpete4227]

So you’ve actually got nothing whatsoever in the way of definitive proof of actual wrongdoing?

[@MichaelGGarry]

Apart from they claim to have evidence of actual wrong-doing, if you actually listened.

[@bigpete4227]

Michael Garry but do not present it? Perhaps they are keeping it for the big reveal? I bet it won’t be conclusive.

[@MichaelGGarry]

@@bigpete4227 If they don't have the evidence they leave themselves open to a massive slander case. Seeing as the article is originally from December, I guess thats not happening. I wonder why....

[@trollop_7]

@@MichaelGGarry : _" they leave themselves open to a massive slander case"_ No. You're the one who hasn't listened closely enough. They've said nothing actionable in this video. There's only smear and innuendo, which most of you here have enthusiastically lapped up.

[@MichaelGGarry]

@@trollop_7 Of course they have said something actionable in the video, for one they have expressly accused the polling companies of breaking the law on exit polls. Did you not hear that bit?

[@sv-bd5em]

Please please continue this! This was such a lovely and clear format and so so informative. Touched an aspect of a topic that gets brought up a lot but not this aspect specifically.

[@FiveLiver]

I was up all night watching the results on BBC and ITV (and BBC radio) and don't recall Farage making any concession speech - if it was mentioned at all it was briefly and there was no significance attached to it. On results nights like these anything said outside a studio doesn't carry much weight.

[@Joerules]

FiveLiver uuuhhhhhh Twitter?

[@FiveLiver]

@@Joerules - What Farage conceded on Twitter? No wonder only journalists heard about it.

[@johnbull1568]

Same here, I was up all night until the result was confirmed on BBC. Very little attention was given to Farage.

[@mattsyson3980]

It depends WHERE it was said as much as everything. to a London obedience who may include financiers would be entirely different to a bunch of dock workers in Grimsby.

[@sutats]

As almost certainly always, there will be no action from the outcome of the examination.

[@marcysss93]

It was actually the second EU referendum as first took place in 1975 :) So why change it now, when in 1975 British people decided to be part of Europe?

[@lewis4402]

America elected Donald Trump. Why change it in 2020? (Seriously your comment is nonsensical)

[@marcysss93]

@@lewis4402 emm because elections take place every 4-5 years and referendums not? :s so by this logic we can have another referendum now

[@lewis4402]

@@marcysss93 The idea is things change with time. I'm not sure if I missed sarcasm in your original comment but 40 years is a very long time, and the EU has changed massively. Suggesting we don't need to vote on it again because we joined in 1975 is a stupid argument.

[@marcysss93]

@@lewis4402 I agree but the thing is that referendum was in 2016 and it's been 2.5 years now since then and a lot of thing have changed too :)

[@lewis4402]

@@marcysss93 Very little has changed with the EU in that time though. A second referendum now would cripple our country, and it's already fragile political system. Even though I would vote remain, a second referendum would be so divisive as it would be seen as running votes until you get the right result (coincidentally exactly what May is doing with her deal in the commons at the moment).

[@MichaelRogers-mg4ot]

I watched both speeches on the night and thought that something wasn’t right, how can anyone call the result before and thing is counted! Any Hedge-fund that benefited from this, should have its assets seized.

[@ForthviewDevelopments]

Nervous and Anxious my arse, he knew what he was doing, if he was nervous it was about getting caught in the act

[@janverboven]

Brexit is the most stupid move - a referendum, razor sharp - I never had one in Belgium to 'join' the EU, Nor was there a referendum to NOT accept the 'Holy Euro', (which you cannot get out of) nor was there a referendum on the 'Maastricht' treaty as a beginning to lose our identity - when 'globalization' was first mentioned, I knew things would get worse for most of the earth's people. And so it was. At first for the 'third world' countries - but I knew THEN that we ALL would lose our last freedom. Look at Greece (extreme example) - from a happy welcoming self-sufficient state to a 'SERVE'-state. There is no UNION in Europe, only the BIG MONEY has a profit in this FAKE. Bitterness leads to extremism again, not leaning but falling over to right extremism. That's the point of NO return. The EU is a BIG MONETARY JOKE build for the RICH. While Brexit was wrong - because of the loss of a big state the EU couldn't turn the tide anymore. Instead they went stupid, asking money, opposing every offer from the UK, propping up non-existent borders, while not realizing their 'for the rich' Union was going to fail. Kein 'Ode an die Freude' anymore.

[@LudvigIndestrucable]

This is some quite disingenuous character assassination. Note the irrelevant details about being made to eat oysters, as if that makes him elitist despite Sweetings being one of London's most famous fish restaurants (6 oysters from Sweetings cost £20, hardly a King's ransom) and since they'd invited him, Bloomberg would have footed the bill. Nigel Farage's wife is German and he has a history of being quite genial with other Europeans, the idea that he would have criticised the Spanish host is ridiculous and may have actually been a joke that went over their heads. There is one possibility that they didn't raise, which is that Farage could have been played by the hedge funds. I don't agree with Farage's politics, but I agree even less with this sensationalised, gutter journalism that relies so heavily on cheap insinuation.

[@LudvigIndestrucable]

@rdrent It's even more insidious than that, I've had a lunch at my local village pub with my parents and grandparents, there weren't any oysters, but I was still the 3rd generation of my family to eat there....... Even if Farage was landed gentry who sprinkled gold dust on his oysters and flogged Spaniards on sight, it's something of an irrelevant detail to what's supposed to be an article on suspected insider trading.

[@christine_ren]

This kind of financial debauchery seems disgustingly outrageous when you begin to look into it. I really do wonder how it's ok for stuff like that to be remotely legal.

[@SerChade]

Sold a country to short when they could've just bought bitcoin in the same year to make 20x returns without any leverage.

[@javierjp8549]

This was much safer

[@Marko-wi1lb]

the system is corrupt... in other news, grass is found to be green...

[@nicholaswoolfenden5254]

Mogg may well short the UK with his hedge fund as he has inside info. Obviously. Bretards don't see they are being led by elites that they pretend to hate! Mogg in particular is loathsome. Ex Eaton, wealthy, the exact antithesis of a working class man.

[@georgedoorley5628]

but the sad part of it it that the working man cannot see this .................

[@Mr_Makina]

"bretards" look how tolerant you are.

[@harryburrows2112]

Jacob Rees-Mogg doesn't even operate a hedge fund and you spelt Eton wrong.

[@khalidhakimi93]

Should be put in jail for using insider trading, not fair. Make it an even ground, this is literally stealing. What’s the difference between insider trading and the thugs on the streets? I see no difference, everyone wants to put food on the table for their family, the authorities in charge need to seriously investigate such occurrences and serve justice

[@joebradley6864]

Interesting but, Where is the evidence ? Just people speculating so far . No pun intended.

[@kingxjamie1185]

Brexit: Ended the career of 2 prime ministers, completely destroyed the value of the £, and single handedly ripped apart a country

[@ollieraison]

So. Did anything happen? This was almost three years ago now

[@chasemoyn9117]

So what pretty much is happening is the UK pressed the “Article 50 button” about 2 years ago. By the end of the month Britain must create a deal accepted by the UK and EU to leave to EU. If they don’t get a deal a “hard Brexit” will occur. The UK will have to follow World Trade Organization rules slowing down trade to a standstill, a border will be propped between north Ireland and the Republic of Ireland, and the pound is predicated to fall significantly. However the UK and EU might reach a deal preventing this

[@ollieraison]

Chase Moynihan no you silly knob. Did anything happen in relation to this flagrant insider trading scam.

[@chasemoyn9117]

Tom Walton the heads of UKIP stepped down but other than that no

[@More_Row]

Tom Walton Farage took his money and stepped away to the shadows shortly after. He now chimes in from the sidelines once in a while sipping on his single malt whiskey from the 60’s.

[@Markdmarque]

Farage and Odey (odious) and others should be properly investigated for insider trading and if found guilty the money made confiscated plus they should be imprisoned for Treason against UK citizens for profit

[@paulmanley8045]

Do it the Brexit way and get the U.K. Back in our hands !!!!!

[@andrewjones2132]

Not back in your hands, unless you're a city trader

[@TheBayzent]

Boris is on it, what could go wrong?

[@kamanashiskar9203]

So you want the UK to rejoin the EU? It won't happen.

[@CHarveyProductions]

My only problem with this is that they have shown no evidence of the conversation with Farage. It would have been a lot more compelling if they had more than just their own word as evidence.

[@infiltr80r]

Farage probably works for the hedge funds. The idea was to push the market higher so there is liquidity. HFs cannot just start selling because that will give it away and the market will drop to the bottom fast.

[@jameslincs]

At 9.30 he says that he used polls that polled in a way that gave UKIP the edge. Maybe Other parties and media stations do that too.

[@RudieObias]

An example of willfully voting in favor of your own demise.

[@kavitabowry8831]

Thank you Bloomberg. Top journalism.

[@kelvinshow4565]

This might be the first time that there’s a video about Brexit where people aren’t saying that the video is wrong and leftist and buyest towards remainers. I have no problem with people stating their opinion but I do have a problem with people saying that something is wrong without saying why it’s wrong and what their evidence is.

[@krapfantasy]

Biased* sorry had to haha

[@adamchilds9132]

When I heard Farage say remain had won my instinct was trying to set up a short. The more people buying into it the higher volume they can then short.

[@101yayo]

I don't see 52 new hospitals being built every year. You need equipment, doctors, nurses, other staffs and most of all patients. Nigel and his fellow leave voters are laughing all the way to the bank.

[@richardclaxton4418]

You are right

[@Billy2011C]

Because we haven't left yet, genius.

[@MichaelGGarry]

Foreign doctors and nurses at that.....

[@Billy2011C]

They build new ones to replace the old ones and all the staff and patients move into the new ones from the old ones. Like Alderhay hospital and Whiston hospitals in Liverpool that I was fortunate to help build. How is that so hard to grasp?

@@Billy2011C You're the only one struggling with the concept.

[@kartikeya24jha]

This is work of genius. Great job👍🏻