Prof. Werner Brilliantly Explains How the Banking System and Financial Sector Really Work
IN-DEPTH VIDEOS, 27 Dec 2021
Power, Privilege, Riches, Control…
Richard Andreas Werner (born 5 Jan 1967) is a German banking and development economist and a professor at De Montfort University. He has proposed the “Quantity Theory of Credit”, or “Quantity Theory of Disaggregated Credit”, which disaggregates credit creation used for the real economy (GDP transactions) on the one hand, and financial transactions on the other. In 1995, he proposed a new monetary policy to swiftly deal with banking crises, which he called ‘Quantitative Easing‘. He also first used the expression “QE2” in public, referring to the need to implement ‘true quantitative easing’ as an expansion in credit creation. In 2014 he published the first empirical evidence that each bank creates credit when it issues a new loan. Wikipedia
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