Prof. Richard Werner - Banking Industry Exposed & Solutions Presented - Dublin April 2016
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- Опубликовано: 3 окт 2024
- Detailed Index - Professor Richard Werner’s Talk:
1 - Why is banking so important for the economy, society and the sustainable development of regions and communities?
2 - What causes the recurring boom-bust cycles and crises?
3 - What policies or banking systems have historically been most successful in avoiding these cycles and crises?
4 - What kind of banking system and banking policy do we need?
5 - While we are at it, can we solve the major problems of our time with this?
6 - What are the policies which are being pushed that we need to oppose?
4:40 - Banks create the Money
7:00 - Where is your Money Safe?
8:50 - Trade Secrets of Banking - Banks don’t lend Money, Banks don’t take Deposits!
10:40 - The bank doesn’t pay-out, it will just record its debt to you, which is called “a deposit” and we use it as Money.
12:45 - Credit Suisse & Barclays Bank - Create their own Capital
16:25 - Cash & QE
17:35 - The money supply is created and allocated by Banks
22:30 - Colwyn Report 1918 - nothing’s Changed!
22:40 - Bank Collusion
24:00 - Banking Market Concentration - The 'Herfindahl-Hirschman Index’ - (H-HI)
26:30 - Number of financial institutions (Banks & Credit Unions) - Debate
27:00 - H-H Index for Germany
29:00 - The Creation of Boom-Bust Cycles
30:50 - Credit for GDP transactions - financial circulation credit (Asset Credit Creation)
36:10 - The East Asian Economic Miracle - Credit Guidance
40:30 - Abuse of Power by the Bank of Japan - A warning to All
47:10 - The German Banking System
51:20 - Hampshire Community Bank Project - Local First CIC
56:40 - Dangers of Centralise Money creation & allocation (Central Banks)
58:00 - The Alternative to bailing out the Banks. Ireland - what the Central Bank could have done
1:00:00 - Japanese Bank Restructuring 1945-47 and 1990s
1:06:00 - Iceland
1:06:50 - Activities of the ECB
1:07:00 - EU war on Community Banks
1:08:30 - Negative Interest Rate Policy of the ECB, favours speculators to the detriment of the economy
1:10:25 - War on Cash
1:11:45 - Lower Interest Rates do not stimulate the economy
1:14:00 - Quantity of money not the price of money that drives the Economy - Bank credit for GDP transactions drives the economy
1:15:45 - Current Central Bank War on Cash
1:19:30 - ‘Princes of the Yen’, Central Bank Truth Documentary on RUclips (247,000 views, Nov 2016) & Book plus other Publications.
Prof Werner’s Books on Amazon: www.amazon.com...
‘Princes of the Yen’: Central Bank Truth Documentary • Princes of the Yen | T...
1:20:00 - Irish Government - Stop the issuance of Government Bonds - 12% Vs 4%
1:22:38 - END
This is a lecture of profound clarity and vitally important for the general public. This should be taught on every economics course to reveal how we have been conned and scammed by ideology about money and banking presented as an unchangeable reality.
That fact that banks can dictate the direction of our economy, create asset bubbles that cripple communities and stymie lives and at the margins create death and destruction ( no money for social care in the UK for example) is beyond belief.
Yet banks operate as if they control the air supply and can decide when we breathe!
You are absolutely right, this should be taught in all schools and colleges! I couldn't agree more
Too bad the boys up top run the public education boards too
The reason every one fears China is it may act for people rather than against them as Western banks and politics are
Should be taught in High School over a Semester! That would change a nation.
right now, the anglo powers are setting the world on path to WAR. before our eyes. we think we are democracies. NOT.
This is a great video and should be watch by everyone that wonders why they are poor and houses are too expensive.. and list goes on !!
And what should be done !
Exceptionally compelling thoughts and suggestions! Well done, Prof. Werner! I wish you success with the development of new community banks.
All money is created by private banks when they issue loans with no need for deposits or reserves. Richard Werner proved this empirically and deserves the highest praise!
Thank you, Prof Werner - brilliant! I love the fact that you're not wearing an expensive suit! Love it!
16:30. I can’t even. ‘What about this Quantitive Easing that people are talking about’... if I’d invented QE as Werner did in 1990-91 I’d introduce that so differently. What amazing modesty
This is brilliant - Professor Richard Werner is a genius.
He is explaining is so well and puts blame where it belongs: The financial sector and their tricks and fraud is to blade. That includes the mass media and politicians they bought (95%).
Underrated Living Legend
Who else like him? We need P.R.W. in higher power calling shots.
VVIP
I respect Werner's work greatly, I'm in awe of his 'Princes of the Yen' film, which everybody should see.
But he only mentions two of money's three main problems: volume (too little money for investment, too much for speculation), and credit allocation by technocrats, instead of the community.
But he does not mention the COST of credit: 12 TRILLION per year.
Usury
A friend of mine once mentioned this to him, and he stuck to his guns, but I wouldn't mind debating him on this once.
I agree. Perhaps, low interest rates do not suffice to have a high growth, but I do not believe that high interest rates do not slow an economy. Werner's example is from the US, but in Russia, where interest rates are very high, it is very expensive to borrow money to start a business.
Anthony, Prof. Werner addresses your concerns on the cost of credit, interest and an interest free system in the Q & A Session that followed this conference; watch it here ruclips.net/video/fjomzPU1Zl0/видео.html - The question was asked by your colleague Cathal Spelman.
Thank you Anthony for your comment. For those who don't know Anthony is the creator of the Florijn; more here ruclips.net/video/SXLNKaT0Cp8/видео.html
@@publicbankingforumofirelan5068 Thank you for this comment. I love his answer and his mission. Will spread the message.
And Werner never mentions that bank created money is impossible to repay because only the principal amount is created but never the interest that is due! This makes the debt trap endless because people are forced to borrow more to avoid default.
Bank created money must be repaid plus interest, government spending is the creation of money. How can you have a talk about money creation and not mention the Bank of International Settlements?
What does the BIS have to do with that?
Excellent presentation, very informative. Thanks!
How much of this information if it could and were applied to the US mortgage and foreclosure crisis would actually unwind the foreclosures as the legal standing either did not exist and/or the facts and terms of the loan were misrepresented to the customer.
And don't you think this information could unwind the Central Banker Warfare Model operating in the EU?
When you go to work and deposite your paycheck It isn't really your money your depositing. Its the corporation or private business you work for..When the funds come from your Employer it is then your money.When your employer gets paid 1000 times more than he is paying you it is because he is liable to the bank on contract To complete the job for that contracts stated price. Not because he works or is worth more than you are. When the contractor goes over budget he becomes a debtor.to the bank.90% of business's fail. Is why corruption is complete.
The 8 Rules that make capitalism benefit the masses
1) De-centralized banking system with window guidance.
2) 80% of the banks must be not-for-profit, small scale, local banks or credit unions.
3) The banks can ONLY invest locally and must be owned by the local community (no foreign entities or investors).
4) 50% of the bank must be owned by a charity - that ensures half the profits are used to benefit the community through training, lobbying, social issues etc. and also ensure the bank never gets merged by the banks.
5) The banks can only lend money for productive activities - no loans for speculations or consumption.
6) Land right issues must be sorted.
7) Make capitalism inclusive for all via digital crypto currency and a digital economy.
8) Simple business, land and tax laws.
Although I agree on most of what you said (approx 80% of the money supply in the euro zone is created for assets transactions). How do you finance the government in your system? As long as money creation = debt, even with a decentralized system and a healthy competitive capitalism in the banking sector, the public sector will borrow, create debt and raise too much taxes that will eventually destroy a big chunk of the economy. I really think that sovereign money is an issue we must talk about. Of course, if your government doesnt spend wisely on a sovereign money regime, you will end up inflating your currency, but it would be a way to hold governments responsible of their actions.
Apart on this issue, I agree on 100% with what Dr Werner says: we need to loan for GDP purposes and less for consumption (non long terme GDP purpose) and even ban loans for assets transactions.
@@Bhasmael The issue is debt. As you say, then fractional reserve (counterfeit) printed out of thin air, loaned at interest. It's been figured out long ago. It's just usury
@@Bhasmael All money is created by credit and debt, the problem is the interest charges. Bankers must be not be owned by the government they must be owned by all the people and not by the less than 0000001% of parasites who are bankrupting all the economies of the world and have a plan to kill most people and enslave the others. Interest charges cause mathematically and exponentially growing debts which cannot be paid by the collective people. This is desire of the subversive despotic bankers. Banks have not lent one cent to anyone its all a fraud. The central banks of each nation must create all the necessary money for the public expenses and taxes cancels the debt, this is the cycle of money. Capitalism, democracy is a fraud. Honest men/women elected to govern must repudiate all debts and stare issuing interest-free loans. and abolish speculation, stock markets are another fraud. Every man/woman must own shares in all industries. There is no choice here if we want to survive.
And no fractional reserve banking.
@@stephenburnage7687
We don't have fractional reserve banking. There are no reserve requirements.
This is the reason why i always question the logic of cash flow statement in the Bank published financials.
I don't know about elsewhere but here in the U.S., we have a 'legal tender monetary system' and this necessarily means that our money is defined by law, specifically 31 U.S. Code § 5103. Nowhere in that, or any other U.S. law, will you find the asset-backed, debt-based, private credit generated by the Federal Reserve and the banks designated or even acknowledged as being a legal tender money, or a money of any type, and the only laws associated with their debt-based private credit, resides in the debts incurred with its use. In point of fact, there is no U.S. law that grants to either the Federal Reserve or the U.S. banking system the legal authority to create money, period. I'm sure that the point, 'banks do not legally create money', applies to all westernized banking systems.
So, a giant leap forward in understanding westernized banking systems would be to STOP referring to their asset-backed, debt-based, private credit, as being 'money' and start calling it what it actually is, 'bank debt', and what they owe is the legal tender currencies of each respective country. Understanding this will also cast a giant spotlight on the bankster push to ban cash, which would represent a 'Debt Jubilee' for the banks. Within the U.S. that 'Debt Jubilee' for the banks would amount to $13-Trillion, measured in dollars, gift to the banks by the deposit account holders. For your respective country, just add up the total bank deposit liabilities and that total will be your gift to your banks with the banning of cash. Now, isn't that special.......
Yes, read "The Creature From Jeckel Island.
Why would I read (I have) The Creature From Jeckel Island when all it does is support the banks and Fed?
How does he manage to remain calm knowing how the bank cartel works?
My thoughts as well, it's alot going on, one must not lose focus, he clearly is focused.
Sure on one level your money might be safer with a stockbroker than in a bank. On the other hand, having your money with a stockbroker can be riskier than having your money in a bank. Wait who am I? Where is this place?
The monetary system can be owned by neither private banks nor governments. For the freedom of individuals, a zero tax system is possible. zollar.org
Awesome presentation, great focus on community banks, very clear, and I learned on wiki that mr. Werner invented qe, interesting
Brilliant lecture. Every Irish politician should be sat down and forced to watch this.
won't make any difference. with the power to print money bankers have long since bought all the politicians anyway. its the public who need to wise up as to how banks work because the tremendous wealth the bankers have (which they don't earn cos they don't do any real work) comes directly from them. its siphoned off, vampire-style, to either line pockets, corrupt society or to prepare the ground for saurons final assault against the kingdoms of middle earth. [ my guess is all 3 ]
they work for the ECB.
Small and medium size banks is the solution for the banking problems.
Community Banking in Bavaria ruclips.net/video/r6i3GANUw-o/видео.html
For only in double entry book keeping can one million dollars of bank credit, be simultaneously known as one million dollars of capital.
Magna Cum Laude. 110/110 Academic Kiss, Academic Hug, Dignity of Print. Top marks.
I have sent to many Politician, Academic, Friend etc, To do a so clear presentation you need a lot of knowledge and a lot of courage as is a taboo matter. All is supported with evidence and empiric evidence so no one is able to argue against.
The large majority of population do not have a clue abut the matter as they are confuse by pretending economist that confuse the matter.
The comment he made about growth is what really struck me. 'Energy exists, it cannot be created, it can only be transformed'.
Meaning banks are the primary mechanism by which human beings decide how to expend their energy. It's crucial that we don't allow the jargon of economic language to separate the idea of what banking is from the reality. Otherwise, as is currently the case, banking will be usurped by the powerful for their own ends, namely transferring the ownership of everyone's assets unto themselves.
Richard you are very intelligent & highly clued in-so why oh why pretend that all that has gone on in banking system is somehow an over sight of people in charge of the banks.it is obviouse as day light that the kabal means to own the world -every inch of land, water & indeed the air we breath.if in process millions of human are dispossed or dead ?well be it! as long as they become overlord of the humanity & in charge of the plant.god help us all!
Bravo, bravo, bravo, I would be throwing a bouquet if in a lecture hall. He is that clear fresh breath which will give life to the hearts and minds of many people. We must learn to swim faster than the sharks and our wits have to zero in on our ability to put our collective financial houses in order and stop the bloodletting of Centralized banking. Once we know better we can certainly do better...
So many pennies dropped that I'll have to put them all in a trading account for protection. Brilliant stuff.
Looking forward to hearing more about the launch of the Hampshire Community Bank. Is anyne planning one for up North? If so, I am already in the queue! A quaint British custom.
Ok. I make a small bank . And now next step
I love the lecture, but improve the sound
Bank Credit would be unnecessary if margins were sufficient to grown businesses organically. Bank Credit is a tool to eschew organic growth, used by businesses that gamble that, through credit, they can out-grow the competition now, and pay for it later after the competition has been crushed.
Wow! So educational.
Mindblowing!
How people don't know this is beyond me... Then again I never had cable so I did alot of reading
So Banks Invent Money but Because this means of deposits were not always licensed and regulated anyone could do this in theory inventing book money via issuing notes based on credit Underwriters
Don't rock the boat, rebuild it without the leaks, from First Principle Observation.
Banking "fees" serve to transfer wealth in an economy. unproductive income ( now part of GDP ) a lie
We love him so much for the enlightenment he gives us
14:00 strawman counterparty independent like a bankruptcy remote vehicle
A promissory note is evidence of debt; it is not a security. Only when the bank requires the borrower to sign a mortgage or other instrument that imposes a lien on a particular asset (e.g., an automobile) is the transaction secured by specific collateral and not simply the borrower's apparent capacity to repay the debt.
Edward Dodson here’s why the promissory note is. Security there is only one signature..no contract...if u alleged default on the alleged debt ...the collection is null and void if the car is the collateral when they repossess the car there should be no debt but they continue to pursue the debt...because u bought a note nota car...
@@VillianVon Wasnt it Denning, (so called Lord) who declared that ''A PROMISSORY NOTE MUST BE TREATED AS CASH''??
Very informative.
Update!
'Fighting' yesterday's 'battles'?
Usually the 'economists' who use 'macroeconomic models' 'believe' that the solution to the current macroeconomic problem is the implementation of the 'correct' type of demand side policies. That is, how to increase income/output {'growth'}.
Increase M0, M2 or M3, cut r, or make it negative. Increase G and finance it by 'borrowing' from the central bank or by borrowing from the private sector. Or ensure that private credit is extended only for GDP transactions.
All that is lacking is a 'sufficient' increase in effective demand!
The neoclassical/Austrian economists, who believe that income/output is 'supply determined', will argue that all that is required to generate a large increase the growth of the underlying productive potential of an economy is for taxes to be cut and more 'competition', etc be introduced!
Aside from the negative externalities of 'growth', what they ignore is the 'energy supply side'?
It's 'too late'?
'We' have ten years?
“ . . . our best estimate is that the net energy
33:33 per barrel available for the global
33:36 economy was about eight percent
33:38 and that in over the next few years it
33:42 will go down to zero percent
33:44 uh best estimate at the moment is that
33:46 actually the
33:47 per average barrel of sweet crude
33:51 uh we had the zero percent around 2022
33:56 but there are ways and means of
33:58 extending that so to be on the safe side
34:00 here on our diagram
34:02 we say that zero percent is definitely
34:05 around 2030 . . .
we
34:43 need net energy from oil and [if] it goes
34:46 down to zero
34:48 uh well we have collapsed not just
34:50 collapse of the oil industry
34:52 we have collapsed globally of the global
34:54 industrial civilization this is what we
34:56 are looking at at the moment . . . “
Louis Arnoux.
ruclips.net/video/BxinAu8ORxM/видео.html&feature=emb_logo
Thank you for speaking the truth.
We are being loaned our own credit
I would like to make a clarification: an HHI score of 1800 does not indicate a highly concentrated market. The term 'highly concentrated", in regards to the HHI, is defined by Herfindahl & Hirschman and the US dept. of justice as a score of >2500. An HHI >1500-2500 is considered "moderately concentrated". More details can be found at: www.justice.gov/atr/horizontal-merger-guidelines-08192010
Sure, all that Werner expounds on is basically true. But he misses one critical reality, which is that in _most nations_ (read: about all of them) the "private banks" are agents of government, they get their licence to issue credit from government, they are regulated by government, the government can place them under statutory management, can fire their boards, can nationalize them at any time according to legal due process. So they're only "private" in name (who owns the furniture). In legal terms they are public institutions, licenced by the state. So all the failures Werner talks about are ultimately failures of the regulators, failures of governments to control their agents.
The only real sense in which commercial banks are private is the degree to which governments are "owned" by the private oligarchs and not beholden to the demos.
Also, in some countries governments guarantee 100% "deposit" insurance. That means those loans we give banks can now be treated as secure deposits. It's borderline criminal (or immoral? negligent malpractice?) when governments fail to insure all bank deposits denominated in their state unit of account. In the USA the FDIC only insure up to $250K, with no rationale whatsoever for that arbitrary cut-off.
What's also true is that when a state issues a floating fiat currency, non-convertible, the state unit of account (aka. "the money") becomes a point scoring system for credits and debt. Nothing that can be considered "in reserve" is at stake. No gold is at stake. The points held by the banks are not claims on anything other than what is offered for sale. There is no promise made by the state to redeem the points for anything other than tax liabilities.
In this case (which is _the_ case with several nations, including the USA, UK, Japan, Australia,...) bank "reserves" are not really reserves of anything. The central bank in these cases is the scorekeeper. It's pure legal rules that tell commercial banks what points they are supposed to keep relative to their net equity (of things convertible to these points!). What "backs" the currency is then the power of the state to issue tax liabilities (and later collect on them), That drives demand for these "points" we call _tax credits_ or the _state money units._
This gives a different complexion on the monetary system to that which Werner outlines. We see that state currencies are simple public monopolies, and the private banks play by the government's rules. Financial fragility occurs when those rules are too lax and too laissez-faire.
(In case anyone thinks I'm being unfair, my friend is doing his PhD with Werner, so I'm only correcting here for some important extra nuances.)
According to prof. R.A.Werner.
“This paper has suggested a simple model that can account for the key anomalies of the traditional monetary approach. It disaggregates the quantity of credit into a 'real' and a financial circulation. In time periods, when the ratio of credit in the financial circulation to credit in the real circulation rises, the simple quantity theory must be expected to disappoint, as it is a special case of the more general quantity theorem of disaggregated credit. In such time periods, a financial boom is likely, as asset prices are driven up by speculative borrowing on the back of collateralised assets. This explains why the traditional monetary quantity theory was not popular in the 1920s and 1930s, and again in the late 1980s and early 1990s. Then the traditionally defined velocity of money declines and excess credit creation can 'spill over' as foreign investment. However, during time periods such as the 1950s, when in many countries credit was mainly channeled into the real economy, asset prices remained stable and the traditional quantity theory could be expected to hold. The fact that the model can account for the major anomalies observed in many countries over many time periods demonstrates generality and robustness.
The empirical results for the Japanese case have been unambiguously supportive. The Japanese asset bubble of the 1980s was due to excess credit creation by banks for speculative purposes, largely in the real estate market. The apparent velocity decline is shown to be due to a rise in credit money employed for financial transactions, while the correctly defined velocity of the real circulation is found to be very stable“
eprints.soton.ac.uk/36569/1/KK_97_Disaggregated_Credit.pdf
Crowding out?
“ . . . whereby the coefficient for ∆g is expected to be close to -1. In other words, given the amount of credit creation produced by the banking system and the central bank, an autonomous increase in government expenditure g must result in an equal reduction in private demand. If the government issues bonds to fund fiscal expenditure, private sector investors (such as life insurance companies) that purchase the bonds must withdraw purchasing power elsewhere from the economy. The same applies (more visibly) to tax-financed government spending. With unchanged credit creation, every yen in additional government spending reduces private sector activity by one yen. “
eprints.soton.ac.uk/339271/1/Werner_IRFA_QTC_2012.pdf
A better clarification; when anyone takes the so-called bank loan the bank doesn’t pretend that you have deposited the money, because the promissory note is money; essentially the bankers convert the customer’s assets into a form of money which is acceptable in commerce Its an exchange with the condition that the transaction is reversed at a mutually agreed time in the future.
The bankers routinely conceal material facts in the so-called contract and charges interest it implies that the banker did lend money which is false on its face, because bankers cannot assign their own or the customers money to lend. So logically the money originates from the alleged borrower not the bank. The bankers commit about 27 crimes when they approve the so-called loans. For these reasons all bank’s loan that conceal the true nature of the contract and adds interest the contract is fraudulent. But don’t try to take this matter to the courts because the justice system is owned and controlled by the bankers. And the bankers make the law; they are the de-facto government. These crimes are allowed with the full complicity of the men/women elected to govern. The bankers also own the media and the education system. The bankers control the information in the economic text-books, and economists and the people at large are not aware of the banker’s swindle.
Take this to the bankers.
Obtain your own evidence by requesting in writing the origin of money the bankers supposedly lends. they will ignore you or lie to you. The bankers are fully aware of that the people will not challenge the bankers. Nobody has the stomach and the judges work for the bankers. The only way to change this is for the people to establish The People's Common Law courts similar to a plebiscite or referendum, and issue summons to the bankers CEO or the major shareholders, and have a jury to decide to have them found guilty of High Treason and sedition, and send them to jail for life. If anyone needs help please contact me.
On the subject of higher interest rates. In the Maggie Thatcher era of the UK interest rates sky rocketed and caused the downfall of the conservative party which had brought about the extremely high cost of borrowing that caused bankruptcies throughout the UK
Excellent
This was five years ago. The central banks continue with their criminality with impunity. Isn't this just great.
If they knew they wouldnt agree
Agree to a scam
If you pay a Lawyer enough you get the response you want , just another part of the scam
Whos money is it the Banks are actually are using ?
I have take issue with his assertion that Germany was not effected by the 2008 credit crisis. Deutsche Bank were up to their necks in it. And while I think about it they did not come through 2 WWs unscathed either. In the last 100 years Germany has had 5 currencies. They crumpled under debt of WWI repatriations and they mainly survived post WW2 because they have not paid repatriations.
When he says Germany he means german citizens, which is true, did not experience a big financial downside during the crysis. Yes Deutsche Bank is german, but it is a large international bank with international customers. The whole idea of local, decentralized banking system is to improve the lives of local communities. Let the large banks venture on bad projects and fail and let the small banks lend money for productive purposes and the communities will improve. Slowly but surely people will start to recognize that large corporations are detrimental to communities and only serve a handful of people.
This guy needs to be in charge!
Mar 2008 TOO big to fail
Where can i find the slides for download. I have searched everywhere but couldn't find them. Please! i need it.
The Central Bank in the United States, The Federal Reserve is a privately owned entity that pays guaranteed dividends to their member banks.
I agree we need to rollback the power of all central banks and codify their rules into laws. As you have said they should only exist as a utility of the citizens of their respective countries and to backstop smaller community banks that only lend by law for productive projects to benefit their low communities and no lending should be done to purchase stocks or other financial assets that aren't productive but only drive up financial asset prices.
Is this the same as building societies they dont loan money out and your money in their accounts belong to them.
il credito è virtualmente illimitato...
This is very good but I suggest that it is invalid to support your simplistic GDP explanation with an analogy with the conservation of energy. For a start, energy can be created from mass through nuclear fission or fusion. A country with an 'ideal' (with all the life cycle considerations) cheap nuclear generator selling its electricity could get very very rich. Other examples where energy input can effectively be multiplied and then exported includes geothermal and pumping oil out of the ground. Better would be a chart/equations of how GDP is calculated but I expect that can be found elsewhere. I am a layman concerning banking and using analogies like this weakens your credibility to me.
Energy exists, it cannot be created, it can only be transformed. that is what he said and no you cannot create energy without using already existing energy, you can only derive & amplify it and there is a limit to that too. If there is no mass, wind etc. there will be no energy. If as you say creating energy and therefore generate more energy then the energy used in creating it, would be possible then perpetual motion would also be possible, which it isn't. Nuclear energy might seem cheap to the inexperienced eye but it isn't, it comes at a great cost for the nature, it cannot be disposed of etc.
Question does the same concept apply to a credit union❔
No.
If "economy" means effective and efficient service activities for the community common sense of integrated "good", the social norm, then like all Orientation to the perception of "good", rationality and reasonable logic applies from "certain assumptions", ie assumptions based and begun from the theoretical absolute meaning of self-defining beginning ending, which means "Entanglement", axial-tangential orthogonal-normal relative-timing ratio-rates in terms of AM-FM e-Pi-i sync-duration resonances in holographic QM-TIME, Fluxion-Integral Temporal superposition Calculus Completeness.
This is the inside-outside presence of point-line-circle time-timing Galileo's Musical Mathematical Measurement Methodologies used to quantise general qualities of Reciproction-recirculation Singularity positioning integration, for which the Optical-Aural Apature of entangled zero-infinity beginning-ending sync-duration connectivity is assumed to be No-thing NOW. (
The Authority of Assumptions => theoretical absolute standards of Observable Actuality Conception that is reference-framing pure-math relative-timing e-Pi-i numberness-resonance dominance-probability perceived as empirical laws of Reciproction-recirculation Singularity Math-Phys-Chem and Geometrical Methodologies, by default.
Mathematical Disproof Methodology makes it easy to "spot the mistakes" in a transparent system of Reciproction-recirculation, if actual Sciencing Re-search practices are adhered to.., Actual-Artificial Intelligence In-form-ation and Government responsibility for oversight.
If there's one oversized Elephant in the Room, it's the unregulated aspects of Military Defence and arbitrarily used and misused financial institutions and resources. Observe weapons stocks and irresponsible misuse.
-----
So the holistic approach to Social Stability is based in zero-sum Superspin-symmetry picture-plane containment states of Logarithmic Time coordination that which is the Universal formula-> Contract in qualitative Mathematical Form. This is the context of Actuality Conception recognition of the Social Contracts of Civilisations. Ie starting-ending in entangled superposition identification of QM-TIME Completeness Actuality, ..naming system optional.
Effectively and efficiently, a Central Bank purchasing debts is taking the action of assuming responsibility, ie by the assumption of necessity and neutrality, governance is applied to proportioning a quantitative social policy.
does this mean mortgages are fraud
Yes
Yes
dependent like a promissory note that the debtor (mortgagee)has ability and will filfull promise to repay the debt. 2008, greed, uncreditworthy loans given out by banks. False promises. Also Packaged as misrepresented products, bought by other investors.
This is anti semitic, please remove before I report to the ADL. Thank you.
Carlos Alegría how is a guy talking about how private banks and central banks are rigging the system anti-Semitic
Who has owned the banks for centuries and made banking a tribal specialism? ruclips.net/video/5-_EccciN8Q/видео.html @@conors4430
@@watcheurpathelastbattle5064 OY VEY DELETE THIS ANTI SEMITIC COMMENT RIGHT NOW
REMEMBER THE 80 TRILLION JEWISH LIVES LOST IN WW2!
majés oficial
Stfu you moron
His opposition to Positive Money is based on a misrepresentation of our campaign. Positive Money does not advocate giving money creation authority to the central bank. Our proposal is for an independent, transparent and democratic committee to hold this authority. The central bank will do the bidding of this committee.
I'm sure you know PM's positions better than I, but this most recent paper ("Sovereign Money: An Introduction", top of p. 29) makes it seem that the new "They" in town is pretty much the Bank of England's good old PMC.
You are correct to challenge my comment. I was writing from slightly faulty memory, and I hadn't read that paper, which is a slightly updated verion of the proposal I was expressing. If I could rephrase what I stated I would say that Positive Money proposes giving money creation authority to the MPC, although the MPC would be reformed to constitute greater democratic accountability of its members. This would be an important point of debate, which the Sovereign Money paper points out. This topic is covered in more detail in Modernising Money by Ben Dyson and Andrew Jackson. Werner's implication is that Positive Money proposes that the central bank as it stands now would simply adopt money creation authority, which is misleading.
Thanks for your reply. I think the same thing.
"Werner's implication is that Positive Money proposes that the CB as it stands now _would simply adopt money creation authority,_ which is *misleading.*"
- and you can see that RW (being a basically good'honest man) knows when he's doing that (going out of character for some reason).
Then again, RW used to work directly with the PM founders, and they are all not far from The City. So maybe he knows something there that most of us don't?
Zarlenga at AMI is furious at him, by the way.
CB's want in on the action: In his remarks, Carney stressed that such a transition to these new tools was unlikely to happen in the immediate future, calling a central bank-issued digital currency an "extreme" possibility.
Bank of England Explores Blockchain, Says Digital Currency is Far Off bit.ly/1V2f8G4 via @CoinDesk
Yes, it seems like hype- at least at this time.
Indians do watch.
Present🙋♀️
Well we have Bitcoin now. Unstoppable decentralized uninflatable sound money.
It’s a pump and dump scheme
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buy bitcoin
bitcoin is a ploy by central banks to get you to accept the idea of digital currency that is controlled by a centralized automated system. Why do you think "Satoshi Nakamoto" is a pseudonym?
The Progressive Growth of Money Supply Principle say you how much the Money Supply must growth, i.e., the quantity of money that markets needs: ruclips.net/video/iiKr-i022mY/видео.html If we increase the money supply by an amount equal to the sum of interest generated by the financial system during the preceding period, the market interest rate will be the natural interest (Wicksell) and we won't have bubbles (tulips, gold, stocks, etc.) Thanks to the Progressive Growth of the Money Supply Principle we know today that it is impossible to return to the Gold Standard. The Principle will force Central Banks to change de monetary policies.
Strikingly good, well presented, my respect prof. Werner...
Bitcoin is the solution.