Conversation with Prof. Richard Werner

Dialogue of Civilizations Research Institute
Published on Oct 12, 2018

Renowned Central Bank Watcher and Investment Strategist
Moderator: Stefan Grobe

Scientific Macroeconomics & The Quantity Theory of Credit


One thought on “Conversation with Prof. Richard Werner

  1. Basicly all banking theories are false, looking at the original question “Where does money come from?”
    It represents the time (momentum) difference between the consumer space; which is the only one giving value in terms of money; and that of labor, which is more restricted being time energy efficient. So it does not belong to labor, as a “profit” at all and it cannot create anything else, seperate from what it is. Money (capital) is an illusion.

    Because money is percieved as begin energy necessary for anything, it has started to live a life on its own though, which is superficial but nevertheless has become a group function for determining its behavioral pattern.
    Of course there is a distinction between lending money creating asset bubbles, which is counter productive and lending money to productive labor.
    But since it is actually based on consumption needs, after which anything can be done, it is not up to banks at all to take these important decisions for society.
    The only practical function it has is determining the fit between supply and demand, so that it proves that. Which can be monitored by banks for statistical evidence/ not for their own income.

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