Proof Banks Create Money Out Of Thin Air. Dark Secrets, Banks Don't Want You To Know

Proof Banks Create Money Out Of Thin Air. Dark Secrets, Banks Don't Want You To Know
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The Shocking Truth That Few Understand, and That You Were Never Meant To Know...
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RICHARD WERNER:
"LEGALLY, THERE IS NO SUCH THING AS A BANK DEPOSIT. IT DOES NOT EXIST"
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Richard Werner Explains How He Proved Money is Created Out of Thin Air
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The City of London is Ground Zero for the Creation of the Modern Day Banking System. aka Babylonian Money Magic.
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The Law Stipulates: When you make a deposit into your Bank Account, THE BANK OWNS YOUR MONEY Because You Gave The Bank a Loan.
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Isn't Babylonian Money Magic Great? You are NOT a Depositor of the Money you OWN, but a CREDITOR who Lends their Money to the Bank.
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Yeah, NO. That is some FFFFed up shit
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Aug 24, 2022
Professor Richard Werner
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Professor Richard Werner explains how commercial banks create money out of thin air. He explains the experiment he ran with a German bank to prove that the Credit Creation Theory (as opposed to the Fractional Reserve Theory or the Financial Intermediation Theory) is correct.
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***This is poorly understood by economists today and therefore means that banks are not appropriately regulated.***
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I don't share this to validate the libertarian or Bitcoiner perspective that it is therefore fraudulent. Sound money has positive and negative features. And in the same talk Werner shows that there are powerful alternatives to the Gold Standard. Germany's strong industry was supported by a de-centralised banking system with lots of small, community banks. These banks could create money out of thin-air, but rather than creating a ponzi, they lent to small businesses, the core of Germany's export economy.
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This also shows that the notion that central banks, like the Federal Reserve, create money is misplaced. A Central Bank Digital Currency would mark a fundamental shift, however.
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Full video:    • Conversation with Prof. Richard Werner  
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FAIR USE FOR EDUCATIONAL PURPOSES
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Mirrored From:
https://www.youtube.com/@notbbcnews