Demystification Committee “Echo FX”
The Demystification Committee studies the intensities of late capitalism. Established in 2016, the Demystification Committee is chaired from London and Berlin.
230616 2200. As polls close in the UK’s referendum on EU membership, Nigel Farage, a former commodities broker and the global face of Leave, immediately concedes defeat.
230616 2252. In a Foreign Exchange market imbued with Remain sentiment, the network effect of Farage’s concessions pushes the pound to its highest point against the dollar in six months.
240616 0409. Nigel Farage declares June 23 “UK independence day”
240616 0528. The pound reaches its lowest point in three decades, loosing 12% of its value against the dollar.
ECHO FX replays Brexit night through the echoes of misleading information spread through networks with the aim of inflating the Pound. As the market sentiment was shaped by these repetitions, City traders with access to insider information pointing to a Leave win made millions from the pound’s collapse.
- Lechuga Zafiro