Please follow us on Gab, Minds, Telegram, Rumble, Truth Social, Gettr, Twitter, Youtube
Author of The Creature from Jekyll Island
Mr. G. Edward Griffin is author of one of the most important books in a century. Mr. Griffin clearly states his work is derivative from important researchers who cut trail on the issue of fiat money, The Fed, and other predatory matters impoverishing millions of Americans. Mr. Griffin names and credits those important and courageous researchers in this book:
Recently, Tucker Carlson interviewed Dr. Richard Werner about central banking and related matters. I carefully watched the episode then messaged to Tucker and to Richard Werner, and to Mr. Griffin. (I met Richard Werner at a conference in Netherlands, and I appeared on the Tucker Carlson show, and I appeared twice with Mr. Griffin on his show…thus I have all their numbers.)
Only Mr. Griffin responded. I reprint Mr. Griffin’s exact message with his permission:
Many thanks for giving honorable mention to The Creature.
Yes, the Tucker Carlson interview with Richard Werner on the Fed was fascinating. Werner has a deep understanding of the technical mechanisms embedded in the Fed. Academics thrive on that, and it's comforting to know that there are those on the ramparts who monitor them. As we all know, the Devil is in the details.
Largely because of my lack of a formal education in banking, I am quick to move beyond the technicalities to the larger view of monetary principles and criminality. Both views are essential to fully understand the Fed.
As a consequence of our different viewpoints, it seems that Professor Werner and I have come to different solutions. He appears to be content to allow the Fed to continue pretty much as it is with the exception of adopting a few new policies: (1) restrict bank loans to only productive, business-related loans and (2) avoid the looming economic crisis by simply having the Fed create trillions of new dollars to "buy out" all the existing under-performing bank loans.
Perhaps I am misinterpreting his proposal but. if not. then I would not be on board. Although I agree that loans for production and creation are preferable over loans for consumption, I do not believe it is the proper function of the state (or a banking cartel) to forbid loans for consumption if both lender and borrower agree to the terms. If the state would simply require banks to adhere to the same accounting rules applied to all other businesses and declined to bail them out when they make non-productive loans, new laws would not be required. Dishonest banks would soon be gone. True, investors in those banks would have serious losses, but those would be minimal compared to the ocean of losses that currently are passed on to all citizens under the present system that favors banks to the detriment of everyone else. The free market would finally be allowed to function.
The second point of disagreement is that creating billions or trillions of additional fiat dollars to bail out the banks from the liability of their non-performing loans may solve the problem of keeping them operating without having to pay a price for plundering the American people one more time, but that price would merely be passed on to the general public in the form of that hidden tax called inflation. You cannot pump huge amounts of new money into the economy without consequences.
In short. Professor Werner's solution to our looming economic crisis (caused entirely by the Fed) appears to be merely to change a few procedural policies and to bail out the corrupt banks with money obtained from the common man through inflation and loss of purchasing power. By contrast, my solution is to abolish the Fed and return the nation to honest banking.
To be sure, I would be open to any reasonable effort to make this change incrementally to attempt to avoid a sudden collapse of the whole system, but even if this is not possible, we must remain aware that, if we continue to sustain the existing system, a total collapse is inevitable anyway with the difference being that recovery without the Fed is possible. With the Fed still in place, there is no hope of recovery.
I reserve the right to change my mind about Werner's proposal after a more detailed analysis of what I recall from the interview, but my first impression is that this is a repeat of a solution offered in 1987 by William Greider in his book, Secrets of the Temple; How the Federal Reserve Runs the Country. I commented on this on page 22 of my own book, The Creature from Jekyll Island; A Second Look at the Federal Reserve, as follows:
"[Greider's] book was critical of the Federal Reserve because of its failures but, according to Greider, these were not caused by any defect in the System itself, but were merely the result of economic factors that are 'sooo complicated' that the good men who have struggled to make the System work just haven't been able to figure it all out. But don't worry, folks, they're working on it! That is exactly the kind of powder-puff criticism which is acceptable in our mainstream media. Yet, Greider's own research points to an entirely different interpretation."
Greider's solution was implemented thirty-eight years ago, The Fed may have been severely criticized, but nothing changed except that it was given additional power.
If I am correct in understanding Werner's "solution" to the economic crisis created by the Fed is to give it additional power over what kinds of loans can be made and to bail out the banks once again, then I am not a supporter.
World-renowned economist Richard Werner on where money comes from: banks just create it out of thin air, and keep a pile for themselves.
(0:00) How Werner Predicted the Japanese Financial Crisis (14:16) How Banks Create Money From Nothing (24:09) You’re Being Lied to About the Bank’s Role in Economics (33:59) The Evils of the Federal Reserve (38:51) Why Are Banks Allowed to Create Money? (57:12) Was Leaving the Gold Standard a Mistake? (1:09:30) The Difference Between Banks and Central Banks (1:24:26) How Society and Culture Are Impacted by Banks (1:33:11) Did the US Purposely Destroy the Japanese Economy? (1:35:42) The Central Bank’s Attempt to Blacklist Werner (1:39:03) The CIA’s Threat to Werner (1:47:24) Why Werner’s Research on Credit Creation Scared the Central Banks (2:03:55) The Link Between Central Banks and Warfare (2:18:02) Where Is the US Economy Headed? (2:29:49) The World Bank’s Debt Trap to Exploit Developing Countries (2:35:34) The Dark Truth About Central Bank Digital Currency (2:40:19) Where Can People Learn More About This?
Get the latest on NYC and the Empire State delivered straight to your inbox
