Amongst all the headlines predicting Theresa May’s demise somewhere between tomorrow and the Tory party conference and possibly a month or so beyond, and there have been many, why is the Evening Standard headline by far the most important?
The article says:
“A top London investment bank has told its clients Theresa May will be ousted as Prime Minister in just a matter of months. American financial services giant Citigroup, which bases its London office in Canary Wharf, sent out a note to its clients urging them to prepare for the PM’s fall from the leadership and another general election within a year. According to the Times, the bank said Mrs May’s current position was “unsustainable” as she faced attack from both hardline Brexit supporters and Remainers. It comes after Mrs May agreed a deal with Northern Ireland’s Democratic Unionist Party to prop up the Conservative Government after the Tories failed to win a majority in the General Election.”
None of this is new information. Most people are speculating that Theresa May’s chances of survival as PM is at best slim.
However, it’s the link with Citigroup and their biggest shareholder that is telling.
How about this from America’s New Republic Magazine last October when Wikileaks were in full swing prior to the election that led to Donald Trump’s rise to the Oval Office.
The most important revelation in the WikiLeaks dump of John Podesta’s emails has nothing to do with Hillary Clinton. The messages go all the way back to 2008, when Podesta served as co-chair of President-elect Barack Obama’s transition team. And a month before the election, the key staffing for that future administration was almost entirely in place, revealing that some of the most crucial decisions an administration can make occur well before a vote has been cast.
Michael Froman, who is now U.S. trade representative but at the time was an executive at Citigroup, wrote an email to Podesta on October 6, 2008, with the subject “Lists.” Froman used a Citigroup email address. He attached three documents: a list of women for top administration jobs, a list of non-white candidates, and a sample outline of 31 cabinet-level positions and who would fill them. “The lists will continue to grow,” Froman wrote to Podesta, “but these are the names to date that seem to be coming up as recommended by various sources for senior level jobs.”
This was October 6. The election was November 4 2008. And yet Froman, an executive at Citigroup, which would ultimately become the recipient of the largest bailout from the federal government during the financial crisis, had mapped out virtually the entire Obama cabinet, a month before votes were even counted.
Citigroup is the 4th largest bank in America – part of the ‘big four’. It has been implicated and fined for numerous illegal activities including involvement in the collapse of Enron, Worldcom and Global Crossing – to name just three of many. It has been fined for money laundering, conflict of interest, stock manipulation, violating federal security laws, misleading investors and non-stop scandals over the years including allegations of theft from its own customer accounts.
So, Citigroup is literally ‘too big to fail or jail’ – it is in the know and at the heart of ‘the establishment’ – over there.
Back in Britain Citigroup said:
“In our view, May’s premiership is not sustainable beyond a few months, perhaps a year at most, and will be under pressure in the face of contentious parliamentary votes from the very beginning,” said the bank’s chief political analyst Tina Fordham in the note.
But – George Osborne – ex Chancellor of the Exchequer is now the editor of the London Evening Standard where this article was published. Other than being being a little mischievous why would Osborne know any more than anyone else?
A few months after being sacked by Theresa May, Osborne’s fees from US appearances in America’s Wall Street during the autumn topped £600,000, including £85,396.24 from Citibank for two speeches.
In addition Osborne then took on a lucrative six-figure role as an adviser to BlackRock, the world’s biggest fund manager.
Blackrock and Citigroup have serious business ties. According to the NASDAQ the largest institutional stakeholders in Citigroup are bond giant BlackRock. Blackrock has more money and assets under management than any company in the world and is in fact larger than the largest bank in the world. Due to its power, Blackrock has been called the world’s largest shadow bank.
So, as insiders go, George Osborne, Citigroup and Blackrock should know what is going on as they are at the political heart of London; so if they say Theresa May is leaving, she’s leaving. You can bank on that!
All images in this article are from the author.