Another soul-crushing response from the BBC. After a year, they continue to ignore all the key points raised:

- Failed to disclose Alex DeVries' conflict of interest as a Dutch central banker.

- Ignored that his research was debunked at the time of publication.

- Provided no evidence of their own fact-checking.

Instead, they cited other outlets who published the same misinformation.

Stage 1 has officially concluded. This is the end of the road with BBC Complaints. I now have 20 days to escalate the complaint to the Executive Complaints Unit—on to Stage 2.