As part of the upcoming film ‘CBDC: The End of Money‘, The big pictureJames Patrick interviewed the 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, states that each individual bank creates money out of thin air. So in 2014 Prof. Werner set out to conduct an experiment to determine which theory was true.

What his experiment showed is that the third theory is true: banks create money out of thin air.

Professor Werner is the father of the monetary policy concept of quantitative easing, the author of the bestselling Princes of the Yen: Japan’s Central Bankers and the Transformation of the Economy, and the author of a major study of the actual activities of banks. You can follow Werner on Substack HEREhis website HEREand you can read his bank document from 2014 HERE.

In this ten-minute interview, Professor Werner discusses his groundbreaking paper on the banking sector, in which he presents three theories of bank credit creation and demonstrates through empirical research that banks actually create money out of thin air.

Banks are not channeling our savings into loans because most people think they are not practicing fractional reserve banking, but in fact they are taking collateral and creating money completely out of thin air. This is shocking when you understand it, and is a complete and utter fraud. If you do not repay your loan, they will take the collateral, even though they did not put anything up to begin with!

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

The video above was recorded as part of the film ‘CBDC: The End of Money‘. You can watch the trailer of the film below and make a donation to the production HERE.