“Banks just create it out of thin air, and keep a pile for themselves.”
“The Federal Reserve Bank of New York is hundred percent privately owned. And that is really the center where all the decisions are made.”
In his March 16, 2023 article titled “Should Banks be Allowed to Fail?”, Werner elaborates that during the 1930s the Fed either let approximately 10,000 small banks fail or even “drove [them] into failure”—a failure mode he characterizes as causing significant harm to both economic growth and employment
He emphasizes the Fed’s actions as exacerbating economic collapse rather than shielding sound banking institutions.
Tucker Carlson podcast with Richard Werner
Richard Werner is a German-born economist known for reshaping our understanding of how money and credit work in modern economies. With experience spanning academia, investment management, and policy advising, he challenged mainstream monetary theory—demonstrating that individual banks are the creators of new money and introducing novel policymaking concepts like quantitative easing.
