Hoax! – "Napoleon is Dead"
Podcast: Hoax!
Hosts: Dana Schwartz & Lizzie Logan
Release Date: March 16, 2026
Episode Theme: The infamous "Napoleon is dead" hoax of 1814, examining one of history’s boldest financial cons, the characters behind it, and how easy it is for people—and entire systems—to fall for manufactured truths.
Main Theme & Purpose
This episode dives deep into the audacious financial hoax of 1814, when news that Napoleon Bonaparte had died swept through Britain, causing chaos in the London stock market. Co-hosts Dana Schwartz and Lizzie Logan unpack the story of Lord Cochrane, a real-life naval rogue (and inspiration for literary and film heroes), and how his penchant for trickery and self-importance may have driven him into scandal. The episode humorously yet insightfully examines why people believe things that aren’t true and the mechanisms behind historical scammers and hoaxers.
Key Discussion Points & Insights
1. Setting the Stage: Oceans, War, and the Master and Commander Connection
- Timestamps: 03:16–05:00
- Dana and Lizzie open with a lighthearted discussion about the film Master and Commander, revealing the real-life inspiration: Thomas Cochrane.
- Quote (Dana Schwartz, 05:00): “Okay, so his name is Thomas Cochrane. He's not that well known as a figure, even though I feel like if you're like, he's the guy who inspired the author of the books of Master and Commander, you'd be like, well, that seems like he should be maybe more famous.”
2. The Colorful Life & Personality of Lord Cochrane
- Timestamps: 05:00–10:44
- A vivid character sketch: Privileged and well-connected, but cash-strapped, impulsive, and insubordinate.
- Cochrane’s “naval Nepo baby” status and how family connections expedited his naval rank.
- Quote (Dana Schwartz, 08:01): “He’s never going to be poor. But again, they do have to sell their industrial estate. They're downsizing, they're not doing great.”
- His penchant for rule-breaking—dueling, flippancy, and outsmarting both superiors and enemies.
3. Early Naval Exploits: Pranks, Trickery, and Little Ships with Big Impact
- Timestamps: 12:58–16:40
- Cochrane’s use of literal false flags and strategic deception:
- Outracing and capturing the much larger Spanish ship El Gamo by flying an American flag until he was close enough to strike.
- Outwitting a Spanish frigate with a “plague” ruse and a Danish flag.
- Quote (Dana Schwartz, 14:10): “He flies an American flag and sails really close, allegedly close enough to see the whites of the Spanish cruise eyes... as soon as he gets really, really close. American flag down, Union Jack up. Joke's on you.”
- Reputation as “Le Loup de Mer” (the sea wolf) — even Napoleon wanted him stopped.
- Cochrane’s use of literal false flags and strategic deception:
4. Trickster to Pariah: Cochrane’s Tumultuous Rise and Fall in British Society
- Timestamps: 17:19–23:20
- Despite exploits, Cochrane rarely wins favor or promotion; openly criticizes superiors and fails to play political games.
- Transition to politics—he’s a man of the people in image, but still deeply self-interested; “libertarian” before his time.
- Quote (Dana Schwartz, 22:37): “He kind of has like, libertarian politics... generally just anti-authority populist. Just like, wants his own good things to be recognized and thinks everyone's out to get him.”
5. The London Stock Exchange and the Seeds of Chaos
- Timestamps: 23:31–29:59
- Introduction to 1814’s volatile, barely regulated financial markets.
- Explanation of “omnium” — British government securities, bought often on credit.
- Importance of slow, rumor-based news cycles in a pre-Internet age.
- Quote (Dana Schwartz, 26:08): “The Internet doesn’t exist... you can’t get information quickly. You can’t just Google something.”
6. The Hoax Unfolds: “Napoleon is Dead!”
- Timestamps: 29:59–38:56
- In Dover at 1am, a mysterious man in a red uniform—Lt. Col. De Bourgh—arrives, claiming urgent news for the Admiralty.
- He reports (in writing) that Napoleon was killed by Russian Cossacks and peace is imminent.
- Word spreads by post-boys, landlords, and eager stockbrokers. By 10am, government stock prices spike.
- Quote (Dana Schwartz, 38:32): “Crowds are gathered outside the mansion house, waiting for the lord Mayor to appear to make an official announcement... It’s like a good day on Twitter.”
7. The Viral Effect: Pamphlets, Parade, and a Quick Crash
- Timestamps: 37:55–39:32
- Midday: A decorated carriage of French royalists parades through London, tossing pamphlets, fanning the frenzy.
- Stock prices soar, then crash again after officials declare it’s a hoax.
- Market manipulation and public outrage quickly follow.
8. The Investigation: Following the Money and the Costumes
- Timestamps: 40:29–44:46
- Stock Exchange committee springs into action, seeking:
- The identity of the supposed Col. De Bourgh,
- The “French royalists” in the parade,
- Anyone who made suspicious trades.
- They find a syndicate: Lord Cochrane, “cool uncle” Cochrane Johnson, and their broker, Richard Butt (“Dick Butt”).
- Nearly £175,000 (in today’s money) made in a single day—their attempts to buy even more stock failed only due to clerical delays.
- Quote (Dana Schwartz, 41:43): “His name, P.T. Barnum—what I’m pleased to tell you is Richard Butt. His name is Dick Butt. B-U-T-T. Two t’s. Great.”
- Stock Exchange committee springs into action, seeking:
9. The Cast of Conspirators
- Timestamps: 42:00–48:27
- Uncle Cochrane Johnson: Penniless, corrupt, facing debtors’ prison.
- Broker Dick Butt: The trio’s investment manager.
- The “French royalists”—found almost immediately—confess, albeit claiming independent action.
- Col. De Bourgh’s real identity: Charles Random de Berenger, a debt-ridden “adventurer” with Loyalist roots, under local arrest, and a flair for costumes.
10. The Trial: Trickery, Defenses, and Denial
- Timestamps: 51:12–64:54
- The group’s defense: Circumstantial evidence, claims of coincidence, shaky alibis.
- Cochrane swears up and down he’s innocent, blames a conspiracy against him, submits “voluntary affidavits” (with no legal penalty for lying).
- Uniform switches, sightings, and a damning trail of banknotes foil their protests.
- Defense begins at 10:30pm; verdict at 2am—everyone is convicted.
- Quote (Dana Schwartz, 68:39): “He just cannot keep his mouth shut in a way that really hurts him.”
11. Punishments, Legacy, and Odd Afterlives
- Timestamps: 66:10–75:44
- Sentences: 12 months in prison, £1,000 fine, and the pillory (waived for Cochrane due to hero status).
- Cochrane is stripped of naval rank, expelled from Parliament, but immediately reelected by his constituents. He escapes prison, is rapidly caught.
- Quote (Dana Schwartz, 67:47): “He just cannot keep his mouth shut in a way that really hurts him.”
- His story remains officially disputed (historians differ), but the evidence is largely circumstantial and damning.
- Cochrane’s post-scandal career: Naval hero for Chilean, Brazilian, and Greek independence movements—a statue in South America but perpetual legal feuds in Britain.
- Later restored and honored after a royal pardon, but never receives his back pay in his lifetime.
12. The Lesser Characters: Where Are They Now?
- Timestamps: 79:51–81:17
- Cochrane Johnson: Dies a fugitive, heavily in debt.
- Dick Butt: In and out of prison, always poor.
- De Berenger: Manages a sports stadium, helps run early “Olympic” festivals, dies with moderate success.
13. Reflections: Belief, Hoaxes, and Legacy
- Timestamps: 81:17–end
- Parallels to modern times: Viral rumors, financial trickery, and the enduring power of bold, performative lies.
- Discussion of how historic figures rewrite their own legacies and how the public eventually moves on—or even forgives.
- Quote (Lizzie Logan, 81:49): “She owned her truth. She got out and she was like, okay, I still do exactly what I've always done, but, like, I'm a little bit chiller now…Literally, no one cares that you did financial crimes.”
Notable Quotes & Memorable Moments
- (14:10, Dana Schwartz): “He flies an American flag and sails really close…as soon as he gets really, really close. American flag down, Union Jack up. Joke’s on you.”
- (19:11, Dana Schwartz): “Napoleon himself personally orders his capture and calls him Le Loup de Mer, which is French for the sea wolf.”
- (38:32, Dana Schwartz): “Crowds are gathered outside the mansion house, waiting for the Lord Mayor to appear to make an official announcement because they're waiting to hear that Napoleon died. It’s like a good day on Twitter.”
- (41:43, Dana Schwartz): “What I’m pleased to tell you is Richard Butt. His name is Dick Butt. B-U-T-T. 2 T’s. Great. Dick Butt.”
- (68:39, Dana Schwartz): “He just cannot keep his mouth shut in a way that really hurts him.”
- (81:49, Lizzie Logan): “She owned her truth. She got out and she was like, okay, I still do exactly what I’ve always done, but, like, I’m a little bit chiller now…”
Key Timestamps for Important Segments
- 03:16–05:00: Introduction to Lord Cochrane (naval trickster)
- 12:58–16:40: Cochrane’s early exploits and trickery
- 29:59–38:56: “Napoleon is Dead” hoax July 21, 1814—news, travel, and stock market impact
- 40:29–44:46: Investigation begins; following the money and the disguised Frenchmen
- 51:12–64:54: The trial, defenses, and pressure-cooker courtroom drama
- 66:10–75:44: Sentencing, pillory, public support, later life
- 79:51–81:17: Fates of the co-conspirators
- 81:17-end: Closing reflections, modern parallels, and the shape of legacy
Tone & Style
The episode sparkles with the hosts’ irreverent, playful banter, blending historical rigor with relatable pop culture references (WandaVision, John Adams, Martha Stewart). The deep dives into character and motive are balanced with recurring jokes about costumes, elaborate scams, and the timeless proclivity for believing what we hope to be true. The episode is both entertaining and a savvy meditation on the intersection of personality, history, and how stories become reality.
For Listeners Who Missed It
This episode offers not just a tale of one of history’s cheekiest financial schemes, but also explains how easily institutions and the public can be manipulated—with only rumors, costumes, timing, and a flair for narrative. If you want to understand what happens when an impulsive trickster meets a creaky financial system and a credulous society—this is the story for you.
Final Word:
"Please hoax responsibly." — Lizzie Logan (85:08)