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The Father Of Quantitative Easing - Richard Werner | PBD Podcast | Ep. 161
PBD Podcast
Is Germany the Most Hidden Champions in the World?
Germany has so many small local Community banks 80% of all banks in Germany are not-for-profit local community banks corporate of banks savings banks that lend only to these Small firms locally. That's why job creation is so strong now Japan is a similar system And the US historically has had a similar system It's strongest in Germany because it's it remained unchanged in Germany for 200 years and none of these small Community banks has ever gone bustNone has ever needed a government bailout and they never changed the formula. They only lend locally once you start to change the formula like in Spain where big banks started to dominate. You know you bust the system now in Japan and that's what you mentioned earlier
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