Banks and Credit Creation

Post Reply
User avatar
Budge
Black Belt
Black Belt
Posts: 1099
Joined: Sun Oct 11, 2020 7:13 am

Banks and Credit Creation

Post by Budge »

A fascinating but very long interview of Richard Werner by Tucker Carlson in which Werner lays out how banks are the key to money creation. It has to do with their perfectly legal creative accounting and the misallocation of the credit that they create into existence.

Werner was on a scholarship in Japan and wanted to unravel the massive Japanese capital flows buying up the world (at the time the top 20 banks in the world were Japanese) and the hugely inflated land prices in Japan. (He estimated that at the time, the value of the Japanese Imperial Garden was worth as much as all the land in California.) He discounted the major prevailing economic theories and confirmed a century old theory that had been "lied" out of favor: banks were special companies that could create money.

He published his findings in his book "Princes of the Yen" in Japanese. It was a best seller but ran into problems when trying to publish in the West.

https://tuckercarlson.com/tucker-show-richard-werner
..whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government..
Post Reply