Richard Werner on centralization sickness

Richard Werner on how CBDC could be the end of banking and on the Sovietization of Europe --- 3.6K views --- Jun 7, 2022 --- 143 --- Reinvent Money --- 7.49K subscribers --- Paul Buitink talks to Professor Richard Werner again. Richard is author of 'Princes of the Yen' and came up with the Quantity Theory of Credit. He also coined the term Quantitative Easing (QE). -------- Two years ago Paul talked to Richard about how the ECB was trying to become the only bank in town in Europe. In this latest episode Richard tells in more detail how the ECB, through regulation and monetary policy, has destroyed small community banks. Since the inception of the ECB 5000 banks have disappeared. Its policies squeeze the margins of small banks while at the same time they lead to asset bubbles, inflation and crises, which are then used to gain more powers, says Richard.