The Glenn Beck Program Ep 216 | What You Know About Money Is All Wrong | The Glenn Beck Podcast
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Apr 6, 2024 World-renowned economist Richard Werner challenges conventional wisdom on banking and money, revealing banks don't take deposits or lend money. The podcast delves into the real functions of banks, the unknowns in the economy, the potential impact of CBDCs, and the dangers of centralized control. Glenn Beck warns against following a China-inspired route to a central bank, emphasizing the risks of central planning and loss of financial autonomy.
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CBDC Is Centralization, Not New Money
- Glenn Beck frames CBDC as programmable digital money that hands control to the Fed.
- He warns this risks turning free will over to central planners.
Banks Create Most Money, Not Governments
- Richard Werner says about 97% of money is created by banks when they lend.
- Central banks make only a small share and governments rarely issue money directly.
How The Fed Was Quietly Passed In 1913
- Richard Werner recounts Congress passing the Federal Reserve bill on December 23, 1913 when few were present.
- He says insiders used that opportunity to centralize control over money creation.