As part of the upcoming film ‘CBDC: The End of Money’, Big Picture’s James Patrick interviewed renowned economist and professor Richard Werner. 

There are three different theories about how banks operate: Financial Intermediation Theory, Fractional Reserve Theory and the third theory, the oldest one, says each individual bank creates money out of nothing. So, in 2014, Prof. Werner set out to conduct an experiment to establish which theory was true.

What his experiment established is that the third theory is true – banks create money out of nothing.

Professor Werner is the father of the monetary policy concept of quantitative easing, the author of the best-selling book Princes of the Yen: Japan’s Central Bankers and the Transformation of the Economy, and the writer of an important study on the actual operations of banks. You can follow Werner on Substack HERE, his website HERE, and you can read his 2014 banking paper HERE.

Related: CBDCs are a solution for a problem we don’t have, and they want to implant it under our skin and Building an Empire – The City of London

In this ten-minute interview, Professor Werner discusses his seminal banking paper, where he presents three theories on bank credit creation and proves through an empirical study that banks actually create money out of nothing.

Banks do not channel our savings into loans as most people think they do not practice fractional reserve banking, but in fact, they take collateral and create money completely out of thin air. This is shocking once you get your head around it, and it frankly constitutes a complete and total fraud. If you don’t repay your loan, they seize the collateral even though they put nothing down in the first place!

If the video above is removed from YouTube, you can watch it on Rumble HERE. You can also watch a longer 30-minute version on BitChute HERE or Odysee HERE.

The video above was shot as a part of the film ‘CBDC: The End Of Money’.  You can watch the trailer for the film below and donate to its production HERE.