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"Banks are special. They have a unique power that no other player in the economy has, and that is the power to create money... The money that you're given as the borrower didn't previously exist." — Richard Werner (Explaining the Credit Creation Theory) [00:18:06]
"If banks create credit for productive business investment... that's when you get very high economic…
"[It’s] perhaps not very popular to say this, but the truth is we don't need central banks. The central banks came about originally in every country as a cartel of the big banks." - Richard Werner (Context: Critique of central banking structures) [00:00:00]
"Interest rates are the smoke screen... to divert everyone's attention. It is the alibi." - Richard Werner…
"History has to be rewritten with the understanding of who is creating the money supply and who's buying those politicians. Otherwise historians just study the frontmen... why are they in power? Who's funded their rise? Follow the money and you find out." - Richard Werner (On the necessity of analyzing monetary origins in history) 00:00:00
" The Federal Reserve is supposed…