18 Burst results for "Richard Werner"

Voice of the Martyrs' Todd Nettleton on the Story of Richard Wurmbrand

The Eric Metaxas Show

01:56 min | 3 months ago

Voice of the Martyrs' Todd Nettleton on the Story of Richard Wurmbrand

"The story of Richard Verne brund is just unlike anything I had ever heard incredibly moving. He wrote a book called tortured for Christ, and I'm sitting here with the head of the ministry that he started one of the people with the ministry Todd nettleton here from Oklahoma to share about a film that's coming out, Todd, welcome. Thank you. It's great to be with you. Listen, voice of the martyrs, for ever since I've been a believer. I have just been thrilled to know the existence of voice of the martyrs, and when I heard the story of Richard Werner and got to meet him, I couldn't even believe it. I said, this is a living hero who experienced the most wicked persecution imaginable, the communists who are inveterate atheists. They hate God, they hate the people of God. He lived through that and had to love of Jesus in his heart even for those who tortured him. It is unbelievable and there's a book. There's a movie, tell us what is out right now. Well, as you say, he's an amazing hero of the faith. And one of the things I think is so remarkable is Richard managed to keep separate the sin and the sinner. He would often say, you know, I hate communism, but I love communists because Jesus died for them. We need to talk to them about Christ. And so all through 14 years in prison, three years in solitary confinement, tortured again and again and again, he managed to keep that love even for the people who were persecuting him. And so this book, the film, really we want to tell this story to a new generation who maybe isn't familiar with Richard and Sabine ore brand. Frankly, may not be familiar with communism. Right. We want them to know these stories of, like you say, heroes of the faith. Well, people need to know the evilness of evil.

Richard Verne Todd Nettleton Richard Werner Todd Oklahoma Richard Sabine Ore Jesus
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

04:41 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"Banks community banks credit unions regional banks specialized lenders phenomenal in in a very short time period. Thousands of banks were created and of course the rest is history china than delivered four decades of double digit economic growth lifting. Move people out of poverty than anywhere in any time in history before it's been phenomenally successful and it would not have happened at. They create it so many small local banks and so it seems quite clear the impeccable record that a decentralized system where you could many community banks is superior and it also has all the advantages in august local communities than much more resilient when they're shocks and we all talk about crises whether it's from viruses all the shocks well there's a further justification if we have a risk of various shocks happening whatever they may be whether it climate or weather or whatever. That's just another reason at will cyber attacks. That's just another reason should have a decentralized system consisting of many many small local units and at the core will always be community banks local banks because they do create money when they lend which injects money to these local economies but they also the denotes of these local economies that can then handle shocks much much better than if we have a central centralized system. We had recently this attack. Some cyber attack on a florida software company which then affected a whole bunch of companies in the world for example in sweden. Eight hundred shops were affected. Grocery shops in supermarkets were affected in the shutdown for several days. People didn't get food from these shops. And their food supplies when bad. Well this is because of centralization you know. Their system is very centralized in sweden. And then you just attack one point and you shut down eight hundred trump's in longo these old of risks and costs of centralization so especially in this time of day it should be obvious to everyone. That solution is the to go in the other direction and have decentralized systems and also they mean that much small scale which means them will human scale..

china sweden florida longo
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

03:40 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"Way you've got thousands and thousands of small local banks which all the money creators and they do that job of kicking ties. Tens of thousands of small foams selecting and this interaction also mutual trust and also a sense of responsibility because it's not transaction banking this relationship banking. They know each other at the. Party's know each other. That few responsible people just behave more humane and more accountable and more responsible as a result in a see the effect effectivity on others. They've we automatically have stakeholder capitalism where people want to be careful about what they do because they the effect is immediate and everyone can see how affecting people so if you compare these two systems centralized one would say one bank goals bank like in the soviet union and a decentralized one thousands of small local community banks being the cool of these local economies. Now guess what which. One is better in terms of economic performance which one is better in terms of stability. You get fuel. Crises does austin's which one is better in terms of job creation which one is better in terms of equality says in a very unequal system. And you can go on which one is better in terms of having lower inflation. It's so obvious that the decentralized system consisting of many small community banks is superior to a centralized system and there's many case studies and evidence in history. Let's just look at china. China was originally not really performing that well when it was a soviet style economy and then often mile jamming Died and this this various upheavals than thanks helping came to power in nineteen seventy eight. He looked around and he decided. Well do we really follow. Do we want to follow the soviet path further but as one bank over concentrated and he concluded it's not really performing well enough but he looked at some other countries namely japan eastern neighbour of china having thousands of local community banks and germany which in china and in japan traditionally educated leaders always studied very carefully. I'm a fairly positive viewed attitude too so that they will be aware of the history they found it actually Supporting of economy performing mob loosely. Well and then of course everyone as we know looks at the. Us economy now. If you look at the us economy through the official narrative you wouldn't see any of that banks just financially dmitri's and and so on but when you on china and you studying the us economy you look at the basic facts. The basic facts are the. Us economy has the largest number of banks in the world and that is a reason for its tremendous economic performance..

china soviet union austin japan germany Us dmitri
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

03:12 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"Building will be possible to cross borders and it will be a wanted only one and that's unfortunately what is rational and will be quite efficient in sort of technological since it has Implications for privacy of freedom of movement for 'em vile freedoms in general for human rights. It has severe negative consequences. And it's certainly something that we should be extremely cautious about. I do want to talk about some solutions. So why don't we touch on your work. Establishing and supporting community banks is that an alternative to the proposed paradigm of central bank digital currencies. I think it. I think it's it's a solution in many respects what we're witnessing is in a greater concentration of decision making power as systems get more centralized than concentrated and that is efficient in theory but it neglects human nature and human nature. Being what it is that there's a whole string of downsides of ever greater concentration on decision making power in every few hands so this concentration trend as huge costs which somehow don't seem to get Considered sufficiently the solution is to move in the opposite direction decentralization. So what we need is and of course at the core of all is is the monetary system because without money nothing happens in the economy and big parts of society so we need to decentralize in the best way to decentralize is to And also the best way to make institutions accountable because disadvantage of the big centralized in to become totally unaccountable. Because there's so centralized so powerful. Nobody can actually check what they're doing is just too too much happening. Then the two big. That's the reality museum. This in so many aspects of industries on the solution is to decentralize have many many small institutions. Which are closely linked into the local economy and accountable to local stakeholders and that that works. Because then this true accountability. The small scale local people know what they're doing and this local community bank account come up with crazy projects. That late at turns out a disastrous. It's impossible because you all part of the community and therefore accountability that's better decision-making when you have better accountability but also it actually supports economic growth and job creation. And there's empirical evidence that if you compared to systems one system where there's only one one bank central bank. Let's say super highly concentrated mamaji system and competitive performance of that with a with an economy..

"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

03:27 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"Price can stay at the current level than job done and so that is of course what. Bitcoin of counties happy advertised as the digital gold is the multiple gold will. What have we here. And so that's the second function that it served now having that it doesn't mean we should not necessarily invest a little bit all even more in cyber consciously so i have i have some small exposure I think it makes sense. Because i think the price will go further but you have to be aware i think ultimately in the long run they will disappear when central banks have introduced the center digital currencies Linked together internationally and the civilians in control aspect of central bank digital currency is really being utilized when we've reached that stage and we all been talking about a very totalitarian system. Unfortunately then do not think that they will indulge us by allowing the continuation of the cyber currencies. It's also indicative that initially already many years ago they were really promoted by the mainstream media in bitcoin was essentially unknown. The financial times had one page big articles introducing bitcoin. And also you know all those bloomberg Early started to quote bitcoin as if it was a major acid which wasn't at that time at all so it's clear that the shooting walls very much interested in promoting and i think it's for these reasons. Is there anything to be said for the fact that there has been an obvious push for vaccine passports. Were seeing france implement. This new vaccine passport system. Does that have anything to do with the push for a central bank digital currency. Yes i think that that is really on the cards because you know having digital Given the nature that technology of such digital possible whether it's vaccine possible anything else that nature is that you can link various functionalities and so it seems just rational that once he introduced one type that that will become the platform for the combination of these functionalities and so let's say it is daunted based on an alleged pandemic with kovic vaccination possibles as digital possible. Then it would make sense to to expand the functionality. They become you. You'll possibles not just your digital vaccine possible but actually real possible that is then Knows right because all the functions of possible can then also be in there and if it's already a possible will why not make it your wallet We already at the same time. Have central bank digital counties than it doesn't make sense to have another digital tool and so then of course it's quite rational to lincoln and so we'll be it will be your everything will be okay. house key don't open. It will be a entry into your office..

The financial times bloomberg france lincoln
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

03:43 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"For that is the emphasis on sustainability perhaps a globalist initiative to control the population. Well population control is another interesting concept and of course it has been linked by some to the environmental damage that humans allegedly calls you the narrative. That's being told us that it's really the You know we we. We don't want an economic growth and we don't want people but that's a very Very unhealthy salt process. I must say it said it's anti-human the thought process that the the source of all the problems are humans. I think the other way round in that told you at the beginning Essentially with economists yet just have to take the opposite what they say. The solution is humans humans the creative once. They're the ones that come up with new ideas new patterns new inventions. Nobody else does. and so. If we want more prosperity we need more humans because we need to train them. The education system is very important. But that's how we get prosperity and how historical society is always thrived when we have more people and people are also educated. There's no evidence that having more people is bad for the planet but it is a narrative that's being scantily out there for decades the united nations population fund which is a big international organization. And it seems that despite its name. The actual goal is to reduce the population of the world And one could say that certain policies that have been taken since march twenty twenty seemed to be part of this agenda and that is quite concerning so it is me topic we should look at in the future in great detail professor verner. I know that so much of your work has really challenged the mainstream narratives and accepted concepts within economics. And i understand that you are engaged several lawsuits in english employment courts concerning your employment as professor at the university of southampton and the university of cambridge. Is it appropriate for me to ask about these cases in perhaps if they are in any way related to your challenging the official narrative when it comes to the central banks since the reporters report is happening reporting on this as it is out in the in the public domain. So i i suppose i certainly can state those facts. That are already out there. Which is that. I have made claims against these two universities for discrimination discriminating against me on a number of counts including my belief that a concentrated banking system is not good for society and we need a banking system that is decentralized and has lots of small banks. So i'm i've caused controversy for advocating community banks which i think should really be controversial because suddenly local politicians very quickly get it that when you have small local banks in the vicinity. This is great. You know you are even if you don't understand bank credit creation that these banks actually creating new money which will stimulate your local economy..

united nations population fund verner university of southampton university of cambridge
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

05:52 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"Said very very clearly that we had. No responsibility is domain. We have a voice and we say in this domain in some others what we think and perhaps if we can help in explaining for las hide to the general people that would be better off the apps it would help europe and blocking indies implementation of structural reforms which is so important and there is consensus on that the diagnosis again is a very very very large consensus on this. On this point. That didn't go down too. Well i suspect and maybe the reason why to the second year We were told everyone was told. Oh sorry this. Global leader for tomorrow program had to be abolished full. I dunno what reason sorry but then a few months later we noticed that. Oh they have a new program which they didn't tell us about. It's cold young global leader which is essentially the same. So they just got rid of this cohort by changing the program. We hear a lot about stakeholder capitalism from the w. e f. in front people like swab you have previously said to me that stakeholder capitalism is a positive economic concept which allows for ordinary people notches stakeholders to benefit from capitalism however it seems as if the w. e f. is taking this positive concept and inverting it yes. I was actually surprised when when i found out that couch. Robin his friends at talking about stakeholder capitalism because they ended finishes korea very different. It's a concept that was developed in germany in the first half of the twentieth century in the ideas that is not just shareholders who the owners of the company who should have an influence over things and actually in reality when you have a diverse set of Listed company often the shareholders so dissipated that they don't actually have much influence over the company. And then it's the manages who decide everything but that's also not good because there's other stakeholders Employees employees as the general public often companies. Have very important roles that affect the whole economy society and so the stakeholder concept originally means that companies have a responsibility to society. And when you have or common sense people in the functions in the company actually would probably act in the right way but when you have this sholder in value maximization approach than everything gets very distorted. And the stakeholder capitalism approach says that we shouldn't just look at things that are good for the top management and for the shoulders which is usually about squeezing as much profits out of being very ruthless often very unethical in your policies to put it clearly Into a stakeholder capitalism is about being ethical of thinking about how company affect society and thinking of other stakeholders onery not just.

europe Robin korea germany
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

05:42 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"Which is one of the worst central banks earlier. You mentioned that we could be facing inflation now in germany and the y mar republic after world war one. There was terrible hyper inflation. Could this scenario happened again. The employee has to be yes. I hope it's not gonna happen at the moment. We don't have the necessary conditions in place so that we wait. We don't yet have to expect it. However the awesome parallels because also the weimar republic suffered initially from look downs and up downs over time industries The the big industrial area in germany was the rural area and that was foreign occupied in the first years of the republic and as a result of the foreign occupation which was not really in line with international treaties. Older workers of the companies that started to strike so suddenly production was halted. So you had essentially. What is a lockdown supply-side shock. That was one of the ingredients in this economic mix. That started to happen. Of course. the central bank also played an important role It took policies which were quite irresponsible and the central bank was a key player in both creating hyper inflation but also in the following situation after the hyperinflation getting industry indebted in increasing foreign indebtedness us dollar short-term denominated loans from the west became dominant in the german banking system and industry. And that's a time bomb which was set off in nineteen thirty one and therefore creating the landscape unemployment in exporting essentially the great depression from the us germany so the central bank. The icebound was i a key factor there. But it's clear that this hyper inflation was a combination of supply-side factors and it responsible central bank policies. And well you know. Of course we have experienced similar supply-side factors small films. Being essentially told to shut down thousands of people becoming unemployed and also at the same time central banks expanding money creation very aggressively so these clear parallels. Fortunately it would save at the moment. It doesn't add up to hyperinflation yet. But it's something we need to watch. The hyperinflation scenario is not yet out of question And policy makers can You know decide about this so we need to keep watching. I want to now discuss the world. Economic forum's great reset but before we get into stakeholder capitalism. I want to talk about your experience with the w. f. in two thousand and three. You were awarded global leader for tomorrow by the w e f in even met clash schwab. However you were never invited back today loss now. Few people of course have direct experience with the very people who are advocating for the great reset. So can you please share with us. Your encounter yes so it was. I was thinking actually for two years. i was in two thousand. Three is global leader for tomorrow together with thirty or forty other young people from all over the world selected an and initially. It is quite exciting because you need all these leaders. President clinton was fair. And you know british german leaders. Everyone is there. I met michael and you. She wasn't even johnson's yet. And you see the future leaders. As well i met klaus schwab.

germany central bank us depression schwab President clinton michael johnson klaus schwab
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

03:49 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"But then nothing would have changed. Japan's economic structure would not change. The ministry of finance has been legal in control. For most of the postal era. We've got entrenched bureaucratic structures applications and all these cartels and so on. That was the oldest well. History teaches the system. Changes only fundamentally if there's a crisis of monetary policy is to change the economic structure. Now how do you do that. Well you need a crisis and that's really what they've done our price just out of time. You have to cut you off. Thank you so much positive. Is it possible that this strategy is currently being used to establish a central bank digital currency. Both it seems to be a fact that some influential people have pushing for a so-called great reset and they have said on the record and you know various influential people whether at the world economic forum in political positions or in even i think in ec- high ranking positions have said things like. Oh this isn't opportunity window of opportunity. You know at that. We should use so this. A dreadful and very much. Officially created crisis based on lockdowns is seen as something positive opportunity and that's the usual narrative so used to this narrative that the recession in japan for example the bank of japan's said repeatedly the recession is not such. A bad thing is actually an opportunity. Thanks to the recession. We can now understand that we need deregulation liberalization privatization change the system changed economic structure. to a different system and have political changes and so on this narrative that you've essentially can promote structural change deep transformation of economy of political system and implement changes when you have a crisis and therefore crisis. A good thing is sort of a pattern that we've seen in many places and used by many decision makers and that's shown in great detail in a book princess of the yen which you can get at quantum published dot com by the way and i show this in great detail particularly look at the japanese case the bank of japan but also this chapter on asian the asian crisis. What we say again the same pattern. This happened to korea to thailand and indonesia in the asian crisis ninety ninety seven and as a chapter on the european central bank. And of course the ecb is really being following the textbook. I mean this book was outed two thousand three and at that time. I predicted and warned that the ecb was likely to create bank. Credit driven asset bubbles banking crises launch recessions and lonsdale unemployment in the euro-zone and within a year. They started doing this in political spain and greece and by two thousand eleven it was complete. We had record high youth unemployment fifty percent increase in spain. And so that was because the ecb is not the the continuation of the german central bank bundesbank's which had a very good track record. I explained how the ecp's really revived. Ice spunk the predecessor of the obama era and the Some shocking parallels so. It looks like we're gonna we all moving in the footsteps of the ice spunk..

ministry of finance ecb bank of japan Japan ec japan indonesia korea thailand spain german central bank bundesbank greece ecp obama
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

03:26 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"When you know somehow a will see the results of that so far too early but It's it's predictable that we non-performing assets asses. We know that the unusual restrictions having these sort of soviet style status soviet style restrictions on economic activity that they are really killing small firms. Which because the main customers of small banks and that put spanks into a depression exactly now how would you characterize these economic policies implemented since march twenty twenty including the restrictions and lockdowns as well as public money injections into the economy. Well it's that's a good question. I mean they when we look for precedents you have to in history after look at. While quite a few countries you'll find that you will not see precedents in liberal free market economies. Actually the main presidents that have similar on in totalitarian regimes. So we we seem to have entered the era of extraordinary and very much totally interventions in economy which is quite interesting because we earlier at that the central banking narrative is free markets. But suddenly. we've really pivoted. I'm without you know You know i'm losing a a any old to the opposite extreme where you have complete direct government intervention in an extraordinary range of markets and people's private lives affecting their the freedom of movement and so on and so while the soviet union comes to mind also maybe germany in the nineteen thirties under national socialist policies. And then on the other hand will. I hope it's not going to be like The so-called cultural revolution in china which is another example. I mean maybe this is. What's what what could be up next to help. Not but what happened was the government actually took policies. That could not help. Could not fail to reduce the food supply and created a famine an artificially created famine. That killed twenty million people in china and so while some people say we have early stages of some strange policies that seem to negatively affect you know food distribution and food supply and quite unnecessarily so hoping not moving in that direction but one thing is clear that we have to look for comparison to soviet strong totalitarian regimes. Which is really not good news. N your book princess of the yen which has also been created into a documentary. You suggest that. In order to implement change politically economically or otherwise there needs to be a crisis have also raised this point during several interviews amid one guy who was quite open about that since richard shelby could've could've created a recovery.

depression soviet union china germany richard shelby
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

05:00 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"Ability to be inappropriate sensitive proportionate in a small banks not systemically relevant. They should not have to meet the same standards as a global and and systemically important bank but in europe. That's been totally ignored. Secondly central banks have been adopting monetary policies that have been helping banks toll quite the country namely by pushing down interest rates and pushing down the whole youth cuff and two zero and flattening yield curve or even in inverting the yield curve where in the long and has low interest rates in the short. End these these are the policies that will punish those banks do the productive lending for small businesses for productive business investment that becomes not viable and only the speculated banks that get get money to invest and speculating financial markets in acids only they will make money and so this is also what's been happening so the monetary policy has consistently had small banks spo- productive thanks to the good growth. That's because why economic growth is really being stagnating and will will do that. More as more banks disappear so now comes the further restrictions offi the covert era for march twenty twenty last year onwards and this really plays into the same development not only on the surface. Some people noticed that from march onwards immediately central banks caches bad. The virus could be on cash. We need to switch digital currency and add immediately that withholdings mole seminar about central bank digital currencies trying to get onto the bandwagon. Another reason. Why the arguing full Full central bank district ramsey's and really if you put these developments together so we've got the won't cash won banks an introduction of central bank digital counties Would you see is that the banking system is Is is threatened because when the central bank issues what's called central bank digital currency in a way. That's a euphemism. You could rephrase this and you could say that will. The central bank is now going to offer current accounts to the public. If you have in your current county.

europe
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

05:44 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"We just help the banks and that led to this balance-sheet nominally expansion but it's not money creation. And that's why. I come to the second part of your question because when we now look at what happened in two thousand twenty. It is very different than i did. Point this out. Dirty last in two thousand twenty from april may onwards so it's very different to two thousand eight the qe that was implemented in twenty twenty was cuny that did expand the money supply a lot and therefore iping warning of inflation and we are now seeing the evidence already in that there is inflation Four percent five percent epsom bit more so it's all coming up now and the reason. Well the reason is of course that now. Money was created injected into the economy in most countries the us the uk continental europe euro-zone japan and they are full in. That's according to mike quantity theory of disaggregated credit over general quantity theory based on credit aggregated. You see that when you do that you create more credit for gdp transactions you get mo nominal gdp growth and Since you haven't increased real gdp to some extent you will get inflation. And so that's what happening of course at the same time. We still have the ongoing acid inflation as central banks create money for acid purchases and banking system. Also supporting that So if you if you look at at what's going to happen next. I mean at the moment scenario still tilbury bullish acid markets. It is a bubble but they continue to blow up this bubble concerning inflation at the moment. I believe they've actually reduced the credit creation in order to prevent runaway inflation where you'd You know the current four five six percent inflation moves into double digits. i think they're still saving. That scenario for the future is not quite yet happening. But we need to follow this data very closely. 'cause they you know this could be done and could happen at any.

continental europe japan mike uk us
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

05:54 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"And they did this. Based on policies that that assumed markets are not in equillibrium that a rationed and therefore the opposite of what the the mainstream economists in the central bank narrative which is also supported by the imf and the world bank giving development advice to the whole world What they were saying was the opposite of those policies naming to deregulate liberalizing privatize the successfully developed economies. Did the opposite the world bank. The i'm f- have tried now. Since the early nineteen fifties allegedly to help countries develop which country has actually successfully indecisively moved from developing countries states developed country status will. There isn't a single one that has done this based on. I'm f- while bang advice. We have a handful of countries namely the the east asian high growth economies japan taiwan korea and for the last forty years china and the policies. They took whether the opposite of the imf world bank deregulation liberalization privatization policies. In fact they took policies which were very clever that used design of institutions and incentive mechanisms and also used banks very clearly because banks create the money supply and they also make like everyone in the economy because markets rationed allocation decisions navy. Went up. bank gives out alone. It can decide essentially over something that affects all of us mainly because his new money creation of this lone wolves money be used for productive pompousness that implements new technologies and therefore adds value and therefore delivers new economic growth and prosperity and therefore new new jobs without inflation. That's the ideal scenario. That is possible. But that's only one of several scenarios if banks do that. We get high economic growth with inflation without banking crisis without boom-and-bust cycles. And that's what asia east asian successful economies did But banks can also do something else they can lend money faw consumption then you get consumer price inflation because somebody has more money created demanding things but the same amount of good society you pushing up. Consumer prices and more importantly for the last several decades is being another case namely banks create money through lending and they give this new money if a new purchasing power to those who simply purchase existing assets. Now let doesn't contribute to gdp toll because acid transactions on all even pot of gdp. But what it does is it creates new money. It injected into these asset markets and therefore must be pushing up asset prices quite cloudy and therefore you will get if banks lend a lot for property purchases. Obviously you're going to get property. Boom if they lend a lot for a financial transactions to hedge funds private equity funds that old welcome the bank lending leverage. That's the real souls and the secret of their success. The real source is there. Is this leverage that they create that turns that tiny returns into big returns and it works because of the money creation powell banks money creation injected into these markets where they are purchasing and therefore driving up the prices. But that's a ponzi scheme..

imf taiwan korea japan navy china asia powell
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

04:01 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"Textbooks and so on that's told at leading investi but he's been old narrative from the nineteen thirties to the nineteen sixties. Which is the fractional reserve theory of banking says that yes banks on individually financial intermediaries. But somehow as all the banks worked together linked together something strange happens in that interaction. Money is being created. Now of course is where is the government what money is being created. Money creation and the money multiplier. That's an interesting concept. But that's actually only the second of the three theories is a third theory that one is the oldest was dominant until the nineteen twenties. And that one said that banks are actually not financial intermediaries intermediaries individual in aggregate banks of something else that actually creators of the money supply and each individual bank when it gives out a bank loan is actually adding new money to the money supply. This is the credit creation theory banking. Now when you have different theories of of something and there's a dispute and this has been raging for at least a century with famous economists supporting almost each school of thought some strange cain supporting all three of them in sequence moving further away from the truth as it turns out in any case when dispute. What's the scientific thing to do. It surely is to look at the data independently tests the theories and see which one is actually accurate And so that's what i did. You have to be clear. You provided the first empirical studies showing that banks create money which does support the credit creation theory. Correct that's right. That's right exactly that was published in two thousand fourteen. A second in two thousand sixteen as two thousand fourteen. One you can look up. It's open access. Can banks individually create money out of nothing titled the paper and the answer is yes they can and they do So the credit creation theory banking is correct and both fractures theory. And also the financial intermediation theory of banking is incorrect. It's being rejected by the date. And i think that's now not anymore disputed since i am published that pay of the central banks have been scrambling to quickly also admit yes. That's true we suddenly discovered you want you know what masuda we've discovered a banks create money. Who would have thought back so. They came up with reports falling over themselves to quickly add to my impact because their reports only mia's Asserting for decades the opposite. So how'd we trust that. I think we do have to look in providence. And i'm that's what i like. Papis banks create money out of nothing when they lend and so. This is an important all the pillar of the central banking narrative. That has collapsed. And so and of course that if you go through his narrative it turns out that every single pillar has by now collapsed august inequilibrium markets disequilibrium markets are rationed i write about that in my book new paragon macroeconomics in great detail. But essentially. it's it's a very simple analysis. In order to have limbering. We need all these this long list of completely implausible assumptions to hold. And what's the probability of these assumptions to hold simultaneously because it's joint probability. They all need to all together need to hold up simultaneously. And it's got at least eight assumptions..

masuda cain Papis mia providence
"richard werner" Discussed on The Last American Vagabond

The Last American Vagabond

05:36 min | 1 year ago

"richard werner" Discussed on The Last American Vagabond

"The economy whether it be the great reset vaccine passport programs or the push for central bank digital currencies. The economy may become more centralized in a post kovic world but in order to understand the motives behind the central banks. For example you must understand how they operate but is it possible everything we thought we knew about macroeconomics and monetary policy is not the full truth. I'm independent journalists taylor. Hudek and while much of the discussion surrounding cove in nineteen has been based on medical ethics and the science behind the gene based vaccines many of the measures implemented to prevent the spread of cove nineteen have had a profound economic impact. This all comes at a time. We're over the past fifty years. The central banks have become more and more powerful. Is it possible that the central banks are using the cove in nineteen crisis to advance their efforts to establish a central bank digital currency joining me today to discuss cove in nineteen through an economics perspective. The role of the central banks is professor richard burner. Professor verner is a former investment banker and to university professor and biglou and finance. He holds a first class honours degree in economics from the london school of economics and a doctorate in economics from the university of oxford. He is a founding chair of local first a community interest company establishing not for profit community banks professor verners book. Princess of the yen was a number one best-seller in japan in the documentary has more than two million views on youtube. In nineteen ninety-five. He proposed a new monetary policy. He called quantitative easing a concept. That has become very popular among the central bankers professor. Richard verner thank you for joining me today. The pleasure. Let's begin by dismantling some of the common misconception surrounding the economy. The public discourse concerning monetary policy and macroeconomics has been controlled by the central bankers. So please explain for us. What is the central bank narrative that has become dominant in academia and the media will the central bank narrative could barely be summarized by the following sequence of sort of tenants believes about how the economy works in about how things function and have policies work. In what pose. It should be taken namely the fundamental stopping. Point is is that markets should be left on their own as much as possible because they will be inequilibrium. Domon equals supply and equilibrium. And how do we get there. That demand equals liable prices. Move at give us this equilibriums of prices at key knife. The small print than that actually is only true. If a number of assumptions hold so we actually implicitly assuming sumptious to be true mainly perfect information everyone knows everything nobody needs to watch this. Watch video for example Perfect competition flexible prices. That instantaneously adjust complete markets where everything and the grandmother rational agents that a selfish and only cabinet themselves but not about others and also don't influence of his encounter be influenced by the so any company.

Hudek richard burner Professor verner biglou Richard verner london school of economics university of oxford taylor Domon japan youtube academia cabinet
"richard werner" Discussed on No Agenda

No Agenda

08:03 min | 1 year ago

"richard werner" Discussed on No Agenda

"She say we didn't know what to do. We were given instructions. And definitely people died unnecessarily on ventilators. You imagine imagine the kind of information I got like man oh. Yeah, gross. Yeah. So it was yeah gross grosses is probably a good way to look at it so but you know it was it was so fantastic we had. Service personnel one of our producers, who's there we had his leg in his arm blown off and put back on and he had the rays to show it soon. But he Just, didn't feel good afterwards. Yeah and and we went out to dinner with a Dame Angela and Patrick Kabul and of course, the whole she'll family and was we had a great time. And I realized that every single person had said the following to me that they could not. Speak their mind. Where they worked. The could not speak their mind because they were all afraid of getting fired. And we had media professionals who sit day in day out making complete bullcrap equity equality, black lives matter stuff for their corporations for media for television. They're all frustrated and no one feels like can say anything for fear of their job. And and so I realized. That because we have made ourselves on cancelable with the help of Gitmo nation because we can eat. I simultaneous I've every so often I reflect on. Yes so That made me very happy of course but on the other hand I am truly is deeply deeply saddened. That no one feels they can stand up for themselves and they are trapped and if no one does that now. and. I don't even think it matters who wins the election. If no one does that. You're screwed because you're you're. We all the masks outside of our little party were all chicken shit when it comes down to it. And went and it goes way beyond covert. It's all the just all the social engineering that's happening and people are afraid for their livelihoods and. It. Doesn't matter which president is in place it. We don't have the balls to stand up and say no and be willing to take the consequences it's over really is I think it's done. because you know they're coming for your cash next. And total control, total total total control, and I'm I I need a break because I'm just mentally worn down from it all and I know everybody's mentally worn down but if no one will stand up for themselves well, then we get exactly what we deserve and that really made me sad I'm very very sad about it it here's what makes me said. This is take one step further. The people who are in the industry that are sincerely promoting the sincerely promoting a cashless society. sincerely. Promoting wearing masks time people that are the I would use the old. Soviet useless, idiots. That art are useful. Yes. Of course, it was a Freudian. We ads. Yeah. To go out there and they promote the OH. This is so great in fact we have. Here mechanic near we do use mechanics bank where they recently switched from mastercard for our regular banking to a Visa Card with the smart would the has the regular normal smart chip this has got to the smart capit- chip. And Jay's got you know I didn't implement mine. Yeah. I said wait till my Lincoln putting online until I'm ready until I have to Jason Yes. Really Cool. You can just tap things. You know you tap it has got the chip just looks different guy like. Little. Some some ransom. Induction current in a circuit. Id, it's an RFID chip repair and. And the fuel yet this is so much more convenient and this and that, but we don't need cash and. There's just all in and I'm to tell people that are like you had to meet up or saying Jesus is terrible but this is great. Yeah well, and there are more people that think this is great. Yeah. Then there are realists well, this is out of order but I'll just play a quick one minute and twenty clips in sort since we bring it up here this is Richard Werner he's professor at demand for university in Deutschland he just speech recently about what the central banks are doing and we if we want to, we can talk about how money is created but I think a lot of people already understand how that works. Up on the Federal Reserve or fractional reserve banking but this comes right along with the Fed now it'll be twenty, twenty, three. It's not going to be tomorrow, but it will be in the form of another stimulus and we're going to go to a digital dollar and the same is happening everywhere fi fi lagarde in Europe says, we're doing a digital euro every country is doing it digital. Currency a digital version of their currency Dan Richard Werner took a moment just to explain what that means how the central bank this my last line because my two of minutes just have reacted to the truth coming out. They admit that the they've been telling porkies, and now it took me a moment to figure out porkies and then I remembered my Australian. Rhyming Slang. PORKIE PIE would be a big fat lie. So I guess that's abbreviated to Porky's. Admit. They've been telling porkies and now they propose to increase their power. So? Central. Bank is belatedly admitted Oh. Oh now that you've mentioned it, yes. Banks create the money supply. So let's abolish that now. and. Also, by the way, let's abolish cash. So what should we do well introduced digital cyber currency that central banks issue in control and thereby. Gained total control over all economic transactions decisions and the whole lot. You've just heard from the CEO of the. So the greatest concentration of central bank power in history is really the bid they're aiming. That's the central banks go and of course, digital accounts of. Dissenters and regime critics could switched off be very difficult to even purchase necessities. So this is an alien of total control, the end of any freedoms that's Really what central banks are aiming at several central banks have like the Bank of England already prepared their. MICROCHIP IMPLANT RFID chip. To be implanted under your skin. And why certain discussion about universal basic income from the grassroots in inverted commas, movements and billionaires. us-based bribe for you accept the microchip. Microchip is now in your card, it's going to be it can be under your skin. You know that that's taking it. One step further doesn't matter the chip is there Ben Everyone's okay in the UK they're? Talking about how they're going when they of course, separate from the European Union have a digital pound. and well, cash. Yeah. We still want people to have cash and so this is out in the open We we're GONNA do away with ATM so you don't need to get cash but what we'll do is we'll make sure that you can always get cash back at the supermarket. It doesn't get much nuttier than that that people say, oh, that's great. How convenient? Yes. Tell me by the way I should mention one of my pet peeves..

porkies Microchip Richard Werner mechanics bank Federal Reserve Jason Yes Dame Angela UK Gitmo European Union Europe Bank of England Patrick Kabul president Jay Lincoln CEO
"richard werner" Discussed on No Agenda

No Agenda

08:03 min | 1 year ago

"richard werner" Discussed on No Agenda

"Did she say we didn't know what to do. We were given instructions. and. Definitely people died unnecessarily on ventilators imagine imagine the kind of information I got like man oh. Yeah Gross. Yeah. So it was yeah. Gross grosses is probably a good way to look at it. So but you know it was it was so fantastic we had. Service personnel, one of our producers, who's there we had his leg in his arm blown off and put back on and he had the rays to show it soon. But he Just didn't feel good afterwards. Yeah and and we went out to dinner with Dame Angela and Patrick Kabul and of course, the whole she'll family and was we had a great time. And I realized that every single person had said the following to me that they could not. Speak their mind. Where they worked. The could not speak their mind because they were all afraid of getting fired. And we had media professionals who sit day in day out making complete bullcrap equity equality, black lives matter stuff for their corporations for media for television. They're all frustrated and no one feels like can say anything for fear of their job. and. And so I realized. That because we have made ourselves on cancelable with the help of Gitmo nation because we can eat. I simultaneous I've every. So often I reflect on. Yes so that. Made me very happy of course but on the other hand, I am truly is deeply deeply saddened. That no one feels they can stand up for themselves and they are trapped and if no one does that now. And I don't even think it matters who wins the election. If? No one does that. You're screwed because you're you're know we all the masks outside of our little party were all chicken shit when it comes down to it. And went and it goes way beyond covert. It's all the just all the social engineering that's happening and people are afraid for their livelihoods and. It doesn't matter which president is in place it. We don't have the balls to stand up and say no and be willing to take the consequences. It's over really is I think it's done. because you know they're coming for your cash next. And total control, total total total control, and I'm I I need a break because I'm just mentally worn down from it all and I know everybody's mentally worn down but if no one will stand up for themselves well, then we get exactly what we deserve and that really made me sad I'm very, very sad about it it here's what makes me said. This is take one step further. The people who are in the industry that are sincerely promoting the sincerely promoting a cashless society. sincerely. Promoting wearing masks time people that are the I would use the old. Soviet useless idiots. That art are useful. Yes. Of course it was a Freudian. We ads. Yeah. To go out there and they promote the OH. This is so great in fact we have. Here, mechanic near, we do use mechanics bank where they recently switched from mastercard for our regular banking to a Visa Card with the smart would the has regular normal smart chip. This has got to the smart capit- chip. And Jay's got you know I didn't implement mine. Yeah. I said wait till my Lincoln completely expires I'm not putting online until I'm ready until I have to Jason Yes. Really Cool. You can just tap things you know you tap it has got the chip just looks different guy like. Little. Some some ransom. Induction current in a circuit. Id. It's an RFID chip repair and And the fuel yet this is so much more convenient and this and that, but we don't need cash and. There's just all in and I'm to tell people that are like you had to meet up or saying Jesus is terrible but this is great. Yeah well, and there are more people that think this is great. Yeah. Then there are realists. Well, this is out of order, but I'll just play a quick one minute and twenty clips in since we bring it up here. This is Richard Werner, he's professor at demand for university in. Deutschland he just speech recently about what the central banks are doing and we if we want to, we can talk about how money is created but I think A lot of people already understand how that works read up on the Federal Reserve or fractional reserve banking but this comes right along with the Fed. Now, it'll be twenty, twenty, three. It's not going to be tomorrow, but it will be in the form of another stimulus and we're going to go to a digital dollar and the same is happening everywhere fi fi lagarde in Europe says, we're doing a digital euro every country is doing it digital. Currency a digital version of their currency Dan Richard Werner took a moment just to explain what that means, how the central banks this my last line because my two of minutes just have reacted to the truth coming out. They. Admit that the they've been telling porkies, and now that took me a moment to figure out porkies and then I remembered my Australian. Rhyming Slang porkie pie with a big fat lie so I guess that's abbreviated to Porky's. Admit. They've been telling porkies, and now they propose to increase their power. So Central Bank is belatedly admitted Oh. Oh, now that you've mentioned it, yes. Banks create the money supply. So let's abolish that now. And also by the way, let's abolish cash. So what should we do well introduced digital cyber currency that central banks issue in control and thereby. Gained total control over all economic transactions decisions and the whole lot. You've just heard from the CEO of the. So. The greatest concentration of central bank power in history is really the bid they're aiming. That's the central banks go and of course, digital accounts of. Dissenters and regime critics could switched off be very difficult to even purchase necessities. So this is an alien of total control, the end of any freedoms that's. Really, what central banks are aiming at several central banks have like the Bank of England already prepared their. MICROCHIP IMPLANT RFID chip. To be implanted under your skin. And why certain discussion about universal basic income from the grassroots in inverted commas, movements and billionaires. us-based bribe for you to accept the microchip. The microchip is now in your card, it's going to be it can be under your skin. You know that that's taking it. One step further doesn't matter the chip. Is there Ben Everyone's okay in the UK they're. Talking about how they're going when they of course, separate from the European Union have a digital pound. and well, cash. Yeah. We still want people to have cash and so this is out in the open We we're GONNA do away with ATM, really need to get cash. But what we'll do is we'll make sure that you can always get cash back at the supermarket. Doesn't get much nuttier than that. That people say, oh, that's great. How convenient? Yes. Oh, tell me by the way I should mention one of my pet peeves..

porkies Richard Werner mechanics bank Jason Yes Dame Angela Federal Reserve UK Gitmo European Union Europe Lincoln Bank of England Patrick Kabul president MICROCHIP Jay CEO
"richard werner" Discussed on Mornings With Gail - 1310 KFKA

Mornings With Gail - 1310 KFKA

05:04 min | 2 years ago

"richard werner" Discussed on Mornings With Gail - 1310 KFKA

"As you're aware prices for a barrel of West Texas intermediate crude dropped negative for the first time in history yesterday morning. I mean what it dropped. Thirty seven sixty three at went negative. Thirty seven dollars in sixty three cents. You had traders selling I mean offering to pay people to buy these contracts because the contracts the May contract expires this morning. By the way we're going to check in with Keith. Wineman President Presidential Wealth Management at seven thirty five. Get his insights and analysis. This morning but Yeah this signals drastic times ahead for portions of Colorado that rely on the energy industry for economic stability. Think we're talking about well county there. You're absolutely correct. So as you're well aware it was yesterday around moot noon. The benchmark price for American produced crude hit Zip Nada Zero Zilch and then it got worse dipping to a low of minus negative thirty seven dollars and sixty three cents combination of a month long production battle between Saudi Arabia and Russian. Of course these are the second and third largest oil producers got behind the United States steep decline of demand around the world and a dearth of storage capability as much of the world's largest economies. Tell all stay home as much as possible. Traders desperate not to be left holding the proverbial bag that trading contract. That would require them to take delivery of oil as refiners sounded alarms over dwindling capacity to store newly produced oil and that led to a veritable frenzy of selling leading sellers to pay other people to take on the contracts. Us Energy Information Administration's Rocky Mountain region was at sixty percent of its overall storage capacity as of April tenth according to the most recent data while the national storage capacity was about fifty seven percent for both of these figures were ten percent lower in mid January cushing. Oklahoma is the country's largest intersecting hub of West Texas intermediate oil on the epicenter of the country's oil storage capacity. It was at sixty nine percents capacity as April compared to forty three percent this in mid January negative prices could draw further cuts to capital projects and jobs from major oil producers in Weld County which are rapidly drawing down costs after setting budgets in January assuming oil prices above fifty dollars. How quickly will those oil prices rebound as a lot of those global restrictions relatives to Cova Nineteen are relaxed? We're going to see that happening. Of course if the numbers hold in Colorado. We're going to see that happening with the stay at home order being reduce or phased into a safer at home order on April twenty seventh. Pvc Energy Noble Energy both have cut capital expenditures by fifty percent this year. They've made various layoffs. Whiting Petroleum Corporation filed for chapter eleven bankruptcy. This month in an effort to restructure long-term debt in a statement you have the Colorado Oil and Gas Association saying that the price drop is indicative of the broader global uncertainty in the economy caused by the spread of the novel Corona Virus. Here's what it had say. We need to effectively address. This health crisis get people back to work so that global markets can begin to function again. Richard Werner is president and CEO of the Weld County Area Economic Development Group upstate Colorado he said the inability for oil producers to sell crude fuel on the market poses a dire threat to the county's Tax Base Weld County taxes oil production at a two year lag. So the loss of revenue at the county level will be felt starting in twenty twenty two now. In the meantime Werner expects to see further cuts to production and plan to capital expenditures for new wells which likely mean industry layoffs and affects to other businesses that serve the oil workers such as restaurants restaurants so for impacted by the covert nineteen related closures. In the short term..

Colorado Weld County Colorado Oil and Gas Associati Richard Werner West Texas Weld County Area Economic Deve Pvc Energy Noble Energy Oklahoma Energy Information Administrat President Presidential Wealth Saudi Arabia Rocky Mountain United States Keith Whiting Petroleum Corporation