Bob Murphy Show Ep. 435 Adam Haman Asks Tough Questions About Richard Werner on Banking
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Aug 15, 2025 Adam Haman, a frequent guest and writer on the HamanNature substack, dives deep into the complexities of banking and money creation in his latest discussion. He questions Richard Werner's theories presented on Tucker Carlson, highlighting the disconnect between public perception and actual banking mechanics. The conversation critiques contemporary economic models, explores the implications of decentralized banking, and discusses the consequences of malinvestment due to low interest rates. Expect intriguing insights into the role of private banks and the Federal Reserve!
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Different Kinds Of Money Creation
- Banks can create money in a different sense than nonbank firms like Tesla, because banks can expand deposit balances when they make loans.
- But central bank money creation is a stronger, legally-tender form of money than private bank bookkeeping entries.
Three Theories Of Banking Explained
- Werner framed three banking theories: intermediary, fractional-reserve, and credit-creation where loans create deposits out of thin air.
- The empirical point that banks mark up deposit accounts when lending is correct but needs context.
Goldsmith Story That Swayed Tucker
- Werner told a vivid goldsmith story that convinced Tucker and many viewers about how deposit notes circulate like money.
- Murphy concedes Werner explains double-entry bookkeeping slickly and made the idea click for some listeners.
