In a stroke he has painted himself as standing up against the government, the financial establishment and the mainstream media. It is his normal way of operating to put himself forward as an outsider, even though it is not the case.
It was the financial establishment that gave him his break after he left his public school in South London. He was a commodity trader for 20 years working for a number of City businesses.
And it was the mainstream media that gave Mr Farage all the publicity he has wanted over the past couple of decades, including a record number of appearances on the BBC’s Question Time and his own show on radio station LBC.
The Sunday Express even gave him a rather generous plug for his new financial scheme earlier this month. In other words, he is part of the mainstream media.
Without a doubt, he is the establishment – apart from his failure to become an MP despite 25 years of trying – and to paint himself as otherwise is rather disingenuous.
But that does not mean he cannot be a dispenser of financial advice, does it? After all, why shouldn’t people benefit from his years of experience?
He is quick to point out that he is not offering advice, just “the truth about your money – behind the headlines, jargon and spin”.
Indeed, the small print in his new daily newsletter warns: “The advice we provide is published generally... We do not assess the suitability or appropriateness of any investment.”
So, what will he be telling people? Gold and cryptocurrencies seem to be what they are pushing, from what I have seen so far. One is obvious, the other is highly-speculative.
Financial planner Martin Bamford has plenty to say about Mr Farage’s scheme in a recent blog on his Informed Choice website.
“Financial newsletters like this exist to sell things to their readers,” he writes. “The fear is that they will direct subscribers towards high-risk and speculative investments.”
Mr Bamford’s view of cryptocurrencies? “The only potential cryptocurrencies have, from an investment perspective, is to lose you money.”
I know lots of journalists will be keeping a close eye on Mr Farage’s activities, but financial advisers should be checking that any clients signing up for this newsletter know the dangers and protect them from risking their savings.
Simon Read is a freelance journalist
