Professor Richard Werner joins Hugh Hendry, founder and former CIO of Eclectica Asset Management, for a deep-dive into the world of central banking. They explore the process of credit creation and examine the fundamental role it plays in inflating asset bubbles, the popping of which can wreck whole economies but can be very good for central bankers. They analyze the Bank of Japan’s (BOJ) remarkable record of credit expansion, including its use of lending quotas, through the lens of Werner’’ renowned book, “Princes of the Yen,” which was a number one bestseller in Japan. They also look at the ongoing efforts of the Fed and the European Central Bank (ECB) to provide liquidity during this unprecedented global crisis at all costs, particularly debt monetization and quantitative easing (a term Werner himself coined), which Werner suggests could lead to a widespread bank nationalization – or a “Sovietization” of the banking sector, as he says. Werner argues that the ECB is undemocratic and that it bears a closer similarity to the Reichsbank (1876 – 1945) than it does to the Bundesbank (1957-present). Hendry and Werner conclude their lengthy discussion by looking forward: they scrutinize the current and future monarchs of the global monetary order, who are no longer princes but who may be on their way to becoming kings. Hugh Hendry can be found on Twitter at @hendry_hugh and on Instagram at hughhendryofficial. Filmed on May 15, 2020.
Central Bank Coup Det Tat. The Central Bank Balance Sheet Pandemic. #Covidstroika ITS A DIGITAL BANK PASSPORT NOT A VACCINE PASSPORT #QED. @NAOMIRWOLF @financialeyes @JoeBlob20 @Pathos14658352 @DavidGolemXIV
Six impossible things before breakfast or, the truth? Circular Arguments or the Circular Economy. “La réforme oui, la chienlit non” DeGaulle/Macron Trump/Nixon Xi Jinping/Mao Zedong, The Exorbitant Privilege.
President Trumps Remarks to the New York Economics Club Yesterday. A look back to his pre-election Speech at the same venue. “It’s The Money Power Stupid, The Gnomes of Zurich, it was ever thus! “Ceterum censeo Carthaginem esse delendam, nihil sub sole novum”. #4Pamphleteers @GrubStreetJorno @Survation @wiki_ballot @financialeyes @DavidGolemXIV #MAGA
FREE MARKET CAPITALISM: IT`S THEIR FUTURE, ” I had a brilliant idea for 21st century economics ” A Live Streamed Dialogue on Money, Banking and Political Economy . “TINA” the Village Bike or Temple Whore.
Professor Richard A. Werner discusses the Disaggregated Quantity Theory of Credit and how it relates to economic growth. What is economic growth? Excursion into the mysterious world of banking.
🔺 SORA Economic Forum : https://soranomics.com
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On Informed Consent of the Governed to be Governed.
WTF is Going On Covid19 the long view.@davidgraeber @financialeyes @JoeBlob20 #TruthBomb @DominicFrisby @2013Boodicca
APRIL 9, 2020