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The Father Of Quantitative Easing - Richard Werner | PBD Podcast | Ep. 161
PBD Podcast
Is There a Third Theory?
Theory that banks are just intermediaries? They gather deposits they lend out those deposits and we can use therefore bank capital Requirements as a tool to keep the banks under control is playing wrong. We've got three theories. Which one is true? What's the scientific thing to do? Let's look at the facts. Let's do an empirical test. So I conducted the first empirical tests of Banking and how do banks actually work and which of the theories of banking is true? It was the first empirical test in the 5000 year history of banking if you want you can actually get this online if you just Google One paper is entitled Can banks individually create money out of nothing? Yes individually. But
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