The X social media platform has refused to remove a paid – indeed ‘paid partnership’ – ad by an Israel lobby group trying to crowdfund for the abduction of well-known US-Iranian academic Syed Mohammad Marandi.

The Tehran-based Marandi is well known as a commentator on Israel’s genocide in Gaza, the political landscape in West Asia and now the US-Israel illegal war on Iran. He is also well known among anti-imperialists for adroitly dismantling Western pro-imperial journalists and their tactics. As a thorn in Israel’s side, he has already been the subject of death threats from its supporters.

Now, the so-called “Terror Alarm” Israel pressure group has posted its ‘appeal’ on X – one that would rightly be the subject of criminal action if the boot were on the other foot:

This is a reprehensible post for X to allow, targeting @s_m_marandi and putting a bounty on him. It is also a “Paid partnership.” Imagine the outcry if a pro-Palestinian or pro-Iranian group did this with Israelis or Americans. Criminal charges would be filed. pic.twitter.com/CilM8a2eWN

— jeremy scahill (@jeremyscahill) March 21, 2026

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The group appears to be based in Israel – and has advertised ‘work from home’ jobs for “residents of Israel and the European Union”:

WHO IS BEHIND @Terror_Alarm?

They posted a $1M bounty on X which is against TOS but @Safety hasn’t banned the acct. Why?

Terror Alarm is based in Israel with ties to Ukraine. Until recently, their profile showed:
– Israel location
– Israel phone #972
– Job openings for Israelis https://t.co/8uiYD67veG pic.twitter.com/TeB55tCIaF

— GenXGirl (@GenXGirl1994) March 21, 2026

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Despite Marandi holding US citizenship as well as Iranian, the US-based X platform has refused to remove the Zionist terror account:

So Terror Alarm puts the bounty on Dr. Marandi, KNOWING he is an American and @Safety hasn’t banned them? https://t.co/6ZUWovnkdB pic.twitter.com/UYUBOnPh92

— GenXGirl (@GenXGirl1994) March 21, 2026

And, as far as an Israeli account is concerned, it goes without saying that Israel is always the victim:

Hamas destroyed beautiful Gaza. IRGC is destroying beautiful Tehran. pic.twitter.com/Tgo3J0I26a

— Terror Alarm (@Terror_Alarm) March 22, 2026

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Marandi posted his own response to the refusal, commenting that the people behind X are supporters of genocide and imperialism:

So, @X and @elonmusk refuse to remove this. Notice the ‘paid partnership.’ Elon Musk and his employees support terrorism, but no one should be surprised. After all, they support the slaughter of women and children across West Asia. pic.twitter.com/9EhPPm4PPk

— Seyed Mohammad Marandi (@s_m_marandi) March 21, 2026

Featured image via YouTube screenshot

Gen Alpha slang 101

Mid

City boy

Unc

Lowkenuinely

Chopped

Choppelganger

Chat

Mike Newton was Conservative parliamentary candidate for Wolverhampton West, and worked for the Bank of England during his career in the financial markets. 

This past week has seen the greatest level of financial market chaos in this country since the Great Financial Crisis of 2008. This is partly the fault of the Iran war, but more broadly represents a massive political and economic policy failure on behalf of those who we trust to run the economy.

As a former Bank of England staffer, who was there at time of Eddie George and Mervyn King, I am mortified by the lack of a policy response.

The danger we face is serious and affects the stability of everyone’s finances: from you and me to the small businesses we use every day, and to the government. Anyone who borrows or wants to borrow is about to get much poorer. And lenders will worry if their loans are still ‘money good’.

This attitude leads to a credit crunch. Mortgages are being pulled by the bucketload. Private credit, where borrowers and lenders face each other directly to finance things like infrastructure and property, is in a huge mess. No one quite knows how much the banks are exposed to these risks. How long before there is a wider banking system problem?

Short-term interest rates have gone through the roof with Bank Rate hikes now being priced for the Bank of England this year and next with a 60 per cent chance of a 25bp (quarter of a percent) hike next month. 88bp (nearly a full percent) of hiking in Bank Rate is now priced for the full year.

The benchmark ten-year gilt, the price at which the Government borrows, has shot up to levels not seen since the height of the 2008 panic. It closed up nearly 20bp on Friday: a huge one day move.

While the Iran War has been the catalyst, the outcome has been significantly worse for Britain than in the US, Germany, Japan or even Italy and Spain, due to combination of short-term policy mistakes and the UK’s particularly weak fiscal foundations.

The main culprits here are the Chancellor, the Secretary of State for Energy and the Bank of England. But also guilty are the enablers, the Labour backbenchers, willingly blind to the laws of economics in pursuit of open-ended public spending on their client vote. And Reform has gone along with this fashionable fiscal incontinence with its calls for unfunded tax cuts, welfare largesse and strategic stakes in industry.

So, what exactly has happened? I will keep it as readable as possible.

When the US and Israel attacked Iran, the price of oil and gas rose very rapidly. The UK is particularly dependent on energy imports, largely due to poor policy decisions which have been exacerbated by Ed Miliband’s political choices.

This has led to expectations that inflation would rise sharply, which caused what is known as ‘repricing’ in interest rate markets. Interest rates are usually thought of as a ‘curve’ with a different rate of interest for each time point being joined together to form on a graph what looks like a curve.

The ‘short end’ of the interest rate curve, which is the cost of borrowing for two years or less and is heavily affected by expectations of Bank of England policy, blew up as traders abandoned views that the Bank would cut and moved to price hikes for 2026 and 2027. This is a huge reversal and appears to have been also driven by a technical issue of traders being ‘caught short’ in the options market (more on this later as it is important).

The ‘long end’, which is the benchmark n-year gilt, hit levels on Friday not seen since 2008 at just shy of 5.00 per cent. This is very important as much corporate credit, home mortgages and of course government borrowing take the lead from this part of the curve.

So far, readers might wonder why I am blaming the Chancellor and the Bank of England for this? Isn’t it the fault of Mr Trump, Mr Netanyahu and the now departed Ayatollah?

Not really. That is just the catalyst. The Chancellor’s destruction of growth and wasteful spending has left the public finances on a weak footing. The OBR commented on this in its Spring Statement analysis noting the ‘structural vulnerabilities’ from the excessive tax and spend mix in the public finances.

I doubt whether the OBR thought these would be revealed quite so quickly. The Government has done nothing but tax and spend, and over-regulate, since it was elected and it is no surprise that the country is now skint and unable to cope with events several thousand miles away.

The Debt Management Office (DMO) is responsible for arranging the funding of UK government debt and in recent months decided to be ‘cute’ with the markets by moving more funding to the ‘short end’ where it was notionally cheaper to borrow. This looked like a clever wheeze at the time, designed to buy Reeves fiscal headroom.

However, this strategy was more dangerous than the DMO let on given that short-term debt by definition has to be rolled over sooner, and if interest rates are then higher, the taxpayer is on the hook to pay more, and more quickly. It was also reliant on the Bank of England cutting interest further: but the fact that the Bank is now priced for hikes means this particular stout party has collapsed. The Chancellor should never have agreed to such an ill-judged high-risk strategy, nor should officials have suggested it.

On Friday it was reported in The Times that Cabinet had discussed loosening the fiscal rules to allow it to spend more. This was a pointless thing to do anyway, going against a basic law of economics at a time when it was least appropriate to do so with gilts under huge pressure. It would be rather like turning on the taps when your house is flooding.

But the leaking of this discussion by a Cabinet member was irresponsibility of the highest order and almost treasonous for the impact it has had on the country’s ability to borrow money cheaply. It has cost taxpayers a huge amount of money because it pushed interest rates on gilts higher.

Furthermore, where has the economic leadership been during this? Has the Chancellor done anything to try and reassure the markets and public? If so, I must have missed it. Where is she when markets need her most? Why is the Energy Secretary not looking at temporary measures to boost the supply of ‘dirty energy’ from the North Sea? His views are one thing, and we must respect them as political opponents, but his inaction is unforgivable.

The Bank of England held its regular Monetary Policy Committee meeting last Thursday. It meets every six weeks to set interest rates and offer guidance to the market.

The meeting on Thursday was a disastrous failure of communication that frightened already scared markets further. Rather than take a very cautious approach to future decisions, the markets perceived the Governor and Committee to have done a full 180 degree turn from the previous meeting and started pushing interest rates higher, increasing market volatility.

It has also been suggested been suggested by some market participants that the Bank may have failed to appreciate the depth of the exposure of investors to the short-selling options strategy outlined above, which would be a major failure of supervision and surveillance if true.

Indeed, the Bank has form for missing these important technical details with the Liability Driven Investments (LDI) affair.

Last Saturday I was listening to Andrew Griffith MP talk to Nick Robinson on his Political Thinking podcast (outstanding advocacy for Thatcherite values by the way). The Shadow Secretary of State, speaking about his time as City Minister, made it clear that the Bank was not fully cognisant of the risks from LDIs, and needed private sector help before it got up to speed on this existential issue.

I remember similar being said after the collapse of Barings when I worked at the Bank. It will never learn unless it meets more regularly with practitioners and hires more people who understand the details of markets.

So, what is the Conservative response to all this?

Politically, we need to ensure that the guilty parties are held to account for the errors made so far, and in doing that be mindful of the fact that Labour cut us absolutely no slack whatsoever for the economic impact of the COVID and Ukraine shocks.

They have sown the wind and now must reap the whirlwind. Their failure to prepare and manage will likely lead to recession, and soon. And with gilt yields now way higher than when Liz Truss was PM, we have an opportunity to nail that tired piece of ‘whataboutery’ for ever. We should play the hardest of hardball politics with them.

Strategically, the case for fiscal consolidation and pro-growth deregulation is now stronger than ever. A higher bar for welfare, including a review of all expenditure including the Triple Lock, and repeal of anti-business measures such as the Employment Rights Bill must feature prominently. The public finances must be strengthened and hard decisions on priorities taken.

Policy coordination needs to be improved. The Bank of England must be more accountable and aligned with broader macroeconomic objectives. It needs to do its job better.

There is no alternative to the above measures. Under Kemi, the party has shown it is willing to go to the root of a problem and find solutions. These desperate economic circumstances require hard-edged small state policies. We can no longer afford to be stranded on the economic middle ground.

US president Donald Trump has begun deploying Immigration and Customs Enforcement (ICE) agents to US airports to assist with security checks.

The news comes after a partial government shutdown caused major funding issues for the Department of Homeland Security (DHS). In turn, this has led to increasing waiting times at airport security checkpoints.

Tom Homan, Trump’s border tsar, told CNN that ICE is “helping TSA [Transportation Security Administration] do their mission and get the American public through that airport as quick as they can while adhering to all the security guidelines and the protocols”.

Homan claimed ICE agents won’t be directly involved in passenger screenings.

Meanwhile, the TSA agent’s union hit back with a statement that staff:

deserve to be paid, not replaced by untrained, armed agents.

ICE: untrained, armed and dangerous

Showing his characteristic degree of professionalism, Trump first threatened to deploy ICE on Truth Social. On 21 March, he posted:

I will move our brilliant and patriotic ICE Agents to the Airports where they will do Security like no one has ever seen before.

The partial shutdown has dragged on because Trump has tied re-opening the DHS to the condition that Democrats sign off on his ludicrously-named ‘SAVE America Act’. Again on Truth Social, he wrote:

I don’t think we should make any deal with the Crazy, Country Destroying, Radical Left Democrats unless, and until, they Vote with Republicans to pass ‘THE SAVE AMERICA ACT.

It is far more important than anything else we are doing in the Senate, and that includes giving these same terrible people, the Dems (who are to blame for this mess!), a Five Billion Dollar cut in ICE funding, a deal which, even when disguised as something else, is unacceptable to me and the American people – UNLESS it includes their approval of Voter I.D., (with picture!), Citizenship to Vote, No Mail-In Voting (with exceptions), All Paper Ballots, No Men In Women’s Sports, and No Transgender MUTILIZATION [sic] of our precious children … In other words, lump everything together as one, and VOTE!!!

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Because shutting down government departments to force the opposition party to pass a bill removing voting rights and trans rights definitely isn’t a clear sign of fascism.

Vote rigging

This move is a transparent attempt at vote rigging, as Trump himself has admitted. At a press conference on 9 March, he boasted:

They know if we get this, they probably won’t win an election for 50 years, maybe longer.

As such, it’s unsurprising that CNN has called the chance of the act passing “near-impossible”. Meanwhile, the DHS has received no funding since mid-February, resulting in the current TSA shortage.

Everett Kelley, president of the American Federation of Government Employees (AFGE), which represents TSA workers, said:

Our members at TSA have been showing up every day, without a paycheck, because they believe in the mission of keeping the flying public safe.

They deserve to be paid, not replaced by untrained, armed agents who have shown how dangerous they can be.

Here, Everett was presumably referring to the multiple high-profile murders carried out by ICE thugs. Likewise, whilst some TSA members are currently working for free, more than 400 have quit their jobs since the shutdown began.

‘The last thing that the American people need’

Homan is in talks with the DHS to determine ICE agents’ role in airport security. Reportedly, the current plan revolves around having ICE cover entry and exit points, freeing up TSA officers to conduct screenings.

Hakeem Jeffries, minority leader of the US House of representatives, also criticised the use of Trump’s armed militiamen as airport bouncers. He told CNN:

The last thing that the American people need are for untrained ICE agents to be deployed at airports all across the country, potentially to brutalise or in some instances, kill them. We’ve already seen how ICE conducts itself.

These are untrained individuals when it comes to doing the current job that they have, for the most part, let alone deploying them in close exposure in highly sensitive situations at airports across the country.

The US House of Representatives will break for Easter on 30 March, if all goes according to schedule. With no resolution in sight for Trump’s SAVE America Act, and ICE agents already deployed in US airports, the stalemate is set to get worse before it is brought to a close.

Featured image via The Guardian/ David Grunfeld/ AP

A stock market investor took to social media to share the vast benefits of renewable energy, namely solar panels. His electric bill dropped 71% in the week that began on 10 March compared to the same time last year. He is likely to save even more as fossil fuel prices surge because of the war on Iran, given gas largely sets the price of energy bills.

Two weeks ago we had solar panels and a battery fitted. We have just completed our first full week with the system.
Our electric bill for the week commencing 10th March 2026 compared to the same week last year has dropped by 71% from £31.71 to £9.05.

We also have not received… pic.twitter.com/lqRtuI35X5

— Justin Waite (@SharePickers) March 21, 2026

Solar panel scale across the country

The issue is low income people do not have the disposable cash to install a solar panel and battery system, which can cost £8,000 to above £14,000. And the Labour government is predominantly letting the market solve the energy and climate crisis, rather than taking an active and strategic state investment approach.

In Green party leader Zack Polanski’s first economic speech, he pointed to Spain as an example of a country that has “doubled” its renewable energy capacity:

Spain… has doubled its wind and solar capacities since 2019, taking it from having some of the highest energy bills in Europe to some of the lowest. Other countries have been able to learn the lessons from previous crises and prepare – why is our response so weak when disaster strikes?

Spain’s investment in renewables means that gas set the price of electricity just 15% of time, compared to 89% in Italy and around 66% of the time in the UK. The FT further notes:

Spain’s average electricity price for the remainder of this year is forecast at about €66 per megawatt hour, or half the level of Italy’s.

Going backwards?

Meanwhile, the fossil fuel industry and many politicians want to take us into the past with increased fossil fuel usage. Labour MP Henry Tufnell, writing in the Sun, called for ministers to scrap the ban on new North Sea drilling – over 90% of which has already been used up. He attempted to reverse reality, saying that the move away from fossil fuels is “impoverishing our communities”.

Big Oil has long propagandised against renewable energy, despite its own reports from 70 years ago predicting the dangers of climate change.

No-brainer

While the war on Iran is a catastrophe, it is highlighting the benefits of renewable energy.

In 50 years burning fossil fuels will be looked on as being as ridiculous as burning candles for light is now.

It is stone age technology, expensive, polluting and inefficient.

— BladeoftheSun (@BladeoftheS) March 22, 2026

Quite.

Featured image via the Canary