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I would listen, but at an hour 40 and this guy having just wasted my life listening to Stephanie Kelton with no pushback... more than 5 minutes is uncalled for.
Great discussion. Hugh it seems from your repeated comments that you need to get your head around the difference between central bank reserves and money that is in the banks (ie the economy.) Central bank reserves are merely an entry on the central bank's ledger. Money in my bank account is just an entry on my bank's ledger (and that money was created at some point as bank credit, and the process for that is simply the lending bank creating an entry on its ledger.) As Richard says, at no point does money move from central bank reserves to the economy, because that implies the central bank reducing its ledger entry and the commercial bank increasing one of its ledger entries by the same amount. That doesn't happen, ne'er the ledgers shall meet. These are different systems entirely. If you just snapped your fingers and made central bank reserves disappear, nothing else would change, there would still be the same amount of money in yours and my bank accounts out there in the real economy (although you'd then have no system for transferring money between commercial banks, which is what the central bank's ledger enables you to do.) Does that make sense?
The great dolly of so many innocent minded people like Hendry on conspiracy "As all things, it starts with good intentions". The pursuit of power has nothing to do with good intentions despite lies which are stated which fools about 95% of people as they are naive and trusting.
I have been watching macroeconomists and investors dissect the current economic environment post-COVID19 and this has got to be the most insightful explanation of the machinations of the Central Bank's madness that I have come across to date, and here the video sits at barely 43k views. What an absolute shame.
Richard Werner is an inspiration and a benchmark pillar of human kind! Educated, logical, reasonable, accurate, and credible. Every Government and citizen in this world must listen to what this gentleman has to say. The most important message, period!
Any chance you can have a round 2 with Richard Werner Due to time constraint there was not enough time to go into How "Capital Flows" function and "How Exchange rates are determined"... This I believe is a crucial point in explaining why domestic credit creation doesn't result in FX fluctuations etc; and it was glossed over.
Yes, was glad to hear Dr. Werner touch on "Capital Flows" or the lack thereof. Am in agreement, particularly w/ 'development aid'. Too bad he wasn't able to say more.
Yeh this was very interesting. I find Werner very compelling, but also find Michael Pettis very compelling too and he talks a lot about excess savings and capital flows and their relationships to crises. Struggling to reconcile the two positions. Need to get them in a room together somehow.
Learning about international capital flows or “non-flows” and the international exchange rate setting mechanism was very fascinating and interesting. Will be looking forward to learning more from Werner on the subject with hopefully another interviewer!
Best real vision interview up to now. I am a control engineer so I look at the change to inputs and outputs for a variety of systems to determine what happens in the middle. This type of engineering perspective for the dynamics that occur for money printing inputs and economic outputs explained so well in this interview. Thank you so much for all that you do RV!
Professor Werner is an economic genius. His book, Princes of the Yen, is an important book on central banking, which should be promoted and widely read.
I got a mortgage loan in 2018 through Chase, and in late 2019; I experienced financial hardship and fell behind on my payments. I had months of late payments before I was introduce to this business minded credit repair specialist Gerhard. I’m very grateful to SAMHACKSTECHNOLOGY ⏺NET for helping me clear my loans and late payments from my report. I taught it would not be possible for my credit to be fixed within the short period of time agreed on. I want to thank Miss Elizabeth for giving me the information and their contact last month🙏❤....
One thing about the money printing by the Weimar Republic was that the Versailles treaty insisted on reparations being paid in something other than the Mark which forced the Republic to exchange their Marks forcing down an already weak currency which eventually caused the hyper inflation.
1:26:11 HH: Why doesn't the Fed have negative rates? RW: Negative interest rates are nonsense. Negative rates don't promote lending like they say they do. They are a tax on banks that large banks use against smaller banks to absorb them.
Acquisitions and mergers all part of the plan since the 1980’s and probably way before that, but more small businesses/banks created from 1970’s onwards.
The timing would be great to have Prof. Werner back after the Davos revelations Jan - Feb 2021. This interview was an eye-opener thank you. Of course, the smothering of small banks and the emerging one-central-bank scenario needs to be a topic of debate, not censored. Lending money primarily for productive purposes with local monitoring is a brilliant concept. Negative interest rates are a dead-end for small banks and central banks know it in their quest to "Reset" using COVID to consolidate and take over globally.
Wow so much for freedom of speech. Thank you for that book. And Hugh. If I were rich? Id visit your hotel. And have a party, on the house. You guys are unsung heros.
Alright, this was a real good discussion. I prefer this over a traditional interview. This was so much more educational, not only because of the format, but mostly because of the knowledge of these two gents, giants. I could go for part 2,3 & 4. I’d love that.
Werner is great! What he says makes sense of everything and I appreciate that he articulates at a level I can understand. I was not aware that banking consolidation was still ongoing. It does indeed appear the USA is being sovietized - in truth, the entire globe simultaneously under the auspices of a virus pandemic. Covid has killed small businesses and all that will be left is very large corporations, governments, and centralized banking. Thank you for this interview!
Richard Werner is an incredibly clear and incisive thinker, its a shame that he ends up with interviewers constantly interrupting with idiotic points, still well worth listening to!
Werner is describing what we had in the US when thrifts were the source of mortgage financing. No creating of any money, very little asset bubble making.
I got a mortgage loan in 2018 through Chase, and in late 2019; I experienced financial hardship and fell behind on my payments. I had months of late payments before I was introduce to this business minded credit repair specialist Gerhard. I’m very grateful to SAMHACKSTECHNOLOGY ⏺NET for helping me clear my loans and late payments from my report. I taught it would not be possible for my credit to be fixed within the short period of time agreed on. I want to thank Miss Elizabeth for giving me the information and their contact last month🙏❤....
This dialogue was stopped way too early - let them speak on their topics in as much detail as needed. So interesting and great to have someone challenging Richard.
If you want to understand more what Richard is saying you need to watch George Gammon, he explains this very topic extremely clear for us to understand and digest. Kuddos to both Richard and Hugh... I just watched last night Princes of the Yen.
Alot of Hendry haters and I agree there should have been slightly less interruption however, I was happy that Hendry CHALLENGED Werner on his ideas OFTEN. This quality is almost always missing in financial interviews. I agree with Werner's theories almost entirely and this was first interview I saw with him where he was challenged early and often.
@@joythought Agreed... I am not a Hendry hater, this is the best interview with Dr.Werner. I do believe we all would have learned more if Hugh would have let him finish his answers to Hugh's question.
Please get Ed Harrison to do the interview the next time as, not only is he competent, he doesn't have a goat wandering around his home. Hendry takes the conversation off on tangents and down rabbit holes.
Awesome. World needs more men like Richard Werner who dont have the rent collectors/interpreters between what his eyes sees and the conclusions he reaches. ;)
Great interview. However, I think they should redo this whole thing again with a better interviewer. The guest had really interesting points and I wish he had been able to elaborate more on them without Hugh interrupting him all the time.
Do they just get Hendry on to have a laugh at the comments? Shouldn't judge a book by it's cover but how can you take an interviewer seriously who looks as if he's auditioning for Castaway 2 and talks in riddles whilst waving his arms around like he's directing aircraft. Even Werner look bemused by his antics at points.
I don’t know not nothing about this world, but I’m learning. I did enjoy this conversation and the comments. Thank for TH-cam for giving intelligent people a chance to share there knowledge given people like me a chance to learn. 👍🏿
I loved the comparison between the reichbank and the bundensbank (especially as I am reading "Lord's on Finance" on this particular period). Really scary to think that the ECB is structured more like the first.
@@antpoo the CCP is literally evil, what's your point?
4 ปีที่แล้ว +1
@@onecoolstorybro The only evil thing about CCP is it refuses to play puppet of the US like Japan did - the path that lead it down to decades of decline, if you actually watched this interview. The US Empire and its ideology is literally evil.
time 1:26:00 Werner's argument on the negative interest in Euro zone that the negative interest is on the required reserve amount held with the central bank, however the negative interest is on the excess reserve - not on the minimum required reserve the bank have to keep with the central bank
We really loved your long form convo. with Raoul the other day Hugh.. + this one is great also.. we love your laid back style with penetrative analysis.. You have found a 'market gap' :)
Richard was coming to the punchline regarding FX, when Hugh jumps as his usual hyperactive self to interrupt and disrupt. Hugh! Listen for heaven sake!
Schacht was involved with Reichsbank when it was returned to Chancellorship control and subsequently fixed the hyperinflation. When Reichsbank was privatized that is when private banks in the system hypothecated credit to cover currency shorts.
This is the conversation I have been looking forward to...ever since HH made specific reference to Werner's Princes of the Yen in his chat with Real Vision CEO recently. Great. I will definitely help with the sale of the new edition of Werner's landmark book. The very best on Real Vision. Cheers.
TO be honest, who are all these other jokers you've been having on this channel? The ones saying basically the same stuff or nothing at all. There's only two economists I can ACTUALLY listen to, one of them is Peter Schiff, and the other is this man. This has got to be the one of the most insightful interviews on banking I've ever heard.
A meeting of minds. A large German one and a small, possibly chemically altered, Scottish one. Hugh clearly got very lucky for one year and has been living off it since.
Fantastic interview. I agree wholeheartedly with the idea that central bank independence is a myth and generally a bad idea. What this was designed to do from the start was to make the politicians unaccountable for the radical monetary policy initiatives that were, and continue to be, implemented. The failure of politicians to make difficult decisions regarding fiscal policy has forced the hand of the central banks to do ever more radical monetary policy therefore they are not independent. Here in the UK, the fact that it was Blair's New Labour that introduced the independent central bank model tells you all you need to know that this was part of a sinister radical-left plot.
Interesting choice to let a Chief Investment Officer interview a professor who points out everything wrong with Finance Capitalism, which is Hugh's career. Hugh is also trying to portray the power of the central banks as nationalization, which couldn't be further from the truth. All this wealth is not nationalized for the economy, but for a select group of people which is a plutocracy. (Although it's possible he simply didn't understand what he actually said, he seemed to struggle with some topics)
Want to stay on top of the news, Real Vision style? We invite you to join our newsletter for our FREE DAILY BRIEFING to keep up with the latest on coronavirus and its global impact on financial markets. You can find an email sign-up through this link here: rvtv.io/YTDailyBrief
I would listen, but at an hour 40 and this guy having just wasted my life listening to Stephanie Kelton with no pushback... more than 5 minutes is uncalled for.
@@adidabax6809 the real meat came with the shortening of time for the discussion. Some interesting stuff.
,App bio
Great discussion. Hugh it seems from your repeated comments that you need to get your head around the difference between central bank reserves and money that is in the banks (ie the economy.) Central bank reserves are merely an entry on the central bank's ledger. Money in my bank account is just an entry on my bank's ledger (and that money was created at some point as bank credit, and the process for that is simply the lending bank creating an entry on its ledger.) As Richard says, at no point does money move from central bank reserves to the economy, because that implies the central bank reducing its ledger entry and the commercial bank increasing one of its ledger entries by the same amount. That doesn't happen, ne'er the ledgers shall meet. These are different systems entirely. If you just snapped your fingers and made central bank reserves disappear, nothing else would change, there would still be the same amount of money in yours and my bank accounts out there in the real economy (although you'd then have no system for transferring money between commercial banks, which is what the central bank's ledger enables you to do.) Does that make sense?
Can anyone send me the link for the copy of the book WITH the Greenspan chapter in?
finally someone interviewing Richard Werner, his view on Japan crisis was enlightening
Richard is one of those Heros who have courage to say this things publicly, big thanks to RealVison for this discussion.
The great dolly of so many innocent minded people like Hendry on conspiracy "As all things, it starts with good intentions". The pursuit of power has nothing to do with good intentions despite lies which are stated which fools about 95% of people as they are naive and trusting.
I have been watching macroeconomists and investors dissect the current economic environment post-COVID19 and this has got to be the most insightful explanation of the machinations of the Central Bank's madness that I have come across to date, and here the video sits at barely 43k views. What an absolute shame.
Why covid turned up when it did!
I agree 100%
Richard Werner is an inspiration and a benchmark pillar of human kind! Educated, logical, reasonable, accurate, and credible. Every Government and citizen in this world must listen to what this gentleman has to say. The most important message, period!
"Don't listen to what they say, watch what they do!." Richard Werner
Courtesy of Paul Samuelson. What a joker, haha.
Exactly!
Werner is the best out there !!! More people need to be interviewing him
Well hes a honest-pro-people-no-nonsence brilliant, experienced and educated econ.
@@lunarmodule6419 I have been following him for a while now, his econ is a completely new paradigm.
Any chance you can have a round 2 with Richard Werner
Due to time constraint there was not enough time to go into How "Capital Flows" function and "How Exchange rates are determined"... This I believe is a crucial point in explaining why domestic credit creation doesn't result in FX fluctuations etc; and it was glossed over.
Yes, was glad to hear Dr. Werner touch on "Capital Flows" or the lack thereof. Am in agreement, particularly w/ 'development aid'. Too bad he wasn't able to say more.
I wanted to hear the end of this statement also. Very annoying interruption from Hugh.
Yeh this was very interesting. I find Werner very compelling, but also find Michael Pettis very compelling too and he talks a lot about excess savings and capital flows and their relationships to crises. Struggling to reconcile the two positions. Need to get them in a room together somehow.
Learning about international capital flows or “non-flows” and the international exchange rate setting mechanism was very fascinating and interesting. Will be looking forward to learning more from Werner on the subject with hopefully another interviewer!
Yeah Richard was explaining that when buddy cut him off at 47:27 dang !!!
Truly truly enlightening to hear Richard explain the machinations of the central banking system. Excellent stuff
Great! But can you do it again with Hough shutting up long enough for Richard to finish one f’cking thought please.
Agree
yep hugh should be behind the youtube screen
This. 1000x
So f*ing true. Annoying &worst interviewer.
There’s nothing of value lost if you just skip over everything he says and listen only to Richard’s answers
One of the best videos in this sector. Feels like it needs a sequel.
Carefully note my thumbs up is wholly for Richard Werner who is brilliant.
Prof Werner is a legend, what a privilege to be able to listen in on conversations with two men who know this area inside out.
Professor Richard Werner Finally!
Agree!
Please do an interview with professor Richard on specifically the mechanics of banking. This mans words are worth gold!
This is one of the most impactful videos on Real Vision. Thank you!
Best real vision interview up to now. I am a control engineer so I look at the change to inputs and outputs for a variety of systems to determine what happens in the middle. This type of engineering perspective for the dynamics that occur for money printing inputs and economic outputs explained so well in this interview. Thank you so much for all that you do RV!
I learned more from this video than any other in a long time.
Richard Wener is awesome! Can't wait for his next interview!
Cannot get enough of Werner!
wow Richard Werner blew my mind, cant believe this video isn't more popular
DUDE! I just got finished watching The Princes of Yen and this pops up in my notification feed!
Your internet knows all....
GD aliens
The only video real vision ever needed to produce.
Professor Werner is an economic genius. His book, Princes of the Yen, is an important book on central banking, which should be promoted and widely read.
I got a mortgage loan in 2018 through Chase, and in late 2019; I experienced financial hardship and fell behind on my payments. I had months of late payments before I was introduce to this business minded credit repair specialist Gerhard. I’m very grateful to SAMHACKSTECHNOLOGY ⏺NET for helping me clear my loans and late payments from my report. I taught it would not be possible for my credit to be fixed within the short period of time agreed on. I want to thank Miss Elizabeth for giving me the information and their contact last month🙏❤....
Werner lays it all out there for everyone to see ... although he may not be that popular with the Davos crowd. What an outstanding interview!
Richards Werners findings are absolutely incredible....
Ladies and gentlemen, let the system change......
One thing about the money printing by the Weimar Republic was that the Versailles treaty insisted on reparations being paid in
something other than the Mark which forced the Republic to exchange their Marks forcing down an already weak currency which
eventually caused the hyper inflation.
1:26:11 HH: Why doesn't the Fed have negative rates?
RW: Negative interest rates are nonsense. Negative rates don't promote lending like they say they do. They are a tax on banks that large banks use against smaller banks to absorb them.
Acquisitions and mergers all part of the plan since the 1980’s and probably way before that, but more small businesses/banks created from 1970’s onwards.
I did not expect the interview to be that great! Thank you.
I knew it would be!! lol
The timing would be great to have Prof. Werner back after the Davos revelations Jan - Feb 2021. This interview was an eye-opener thank you. Of course, the smothering of small banks and the emerging one-central-bank scenario needs to be a topic of debate, not censored. Lending money primarily for productive purposes with local monitoring is a brilliant concept. Negative interest rates are a dead-end for small banks and central banks know it in their quest to "Reset" using COVID to consolidate and take over globally.
Wow so much for freedom of speech. Thank you for that book. And Hugh. If I were rich? Id visit your hotel. And have a party, on the house. You guys are unsung heros.
These guys stretched my brain in ways that I never knew it could be. Amazing discussion, thanks Raoul!
Fantastic dialogue on macro economics.. wunderbah. Thanks Richard and Henry, keep informing the public..
Hugh has the nicest tie of all the businessmen on RV
Alright, this was a real good discussion. I prefer this over a traditional interview. This was so much more educational, not only because of the format, but mostly because of the knowledge of these two gents, giants. I could go for part 2,3 & 4. I’d love that.
Glad I'm listening to this after 3yrs of learning, makes far more sense than it would have
Werner is great! What he says makes sense of everything and I appreciate that he articulates at a level I can understand. I was not aware that banking consolidation was still ongoing. It does indeed appear the USA is being sovietized - in truth, the entire globe simultaneously under the auspices of a virus pandemic. Covid has killed small businesses and all that will be left is very large corporations, governments, and centralized banking. Thank you for this interview!
sovietized - zio bolshevism.
This was one of the most instructive cast i have seen; thank you.
Richard Werner is an incredibly clear and incisive thinker, its a shame that he ends up with interviewers constantly interrupting with idiotic points, still well worth listening to!
Awesome. Werner is outstanding. Hugh should just shut up and listen.
Hear!!..hear!!
So true!
Werner is describing what we had in the US when thrifts were the source of mortgage financing. No creating of any money, very little asset bubble making.
Big Thumbs Up for this comment!👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍
@911zhenxiang Amen! Other than flat Earth I believe all conspiracies to be true.
I really like the interviews on this channel, but this interview is one of the best!!
I got a mortgage loan in 2018 through Chase, and in late 2019; I experienced financial hardship and fell behind on my payments. I had months of late payments before I was introduce to this business minded credit repair specialist Gerhard. I’m very grateful to SAMHACKSTECHNOLOGY ⏺NET for helping me clear my loans and late payments from my report. I taught it would not be possible for my credit to be fixed within the short period of time agreed on. I want to thank Miss Elizabeth for giving me the information and their contact last month🙏❤....
Amazing - thank you for this thought provoking conversation ! ! ! One of the best in history.
Brilliant education, thank you Prof. Werner
This dialogue was stopped way too early - let them speak on their topics in as much detail as needed. So interesting and great to have someone challenging Richard.
If you want to understand more what Richard is saying you need to watch George Gammon, he explains this very topic extremely clear for us to understand and digest.
Kuddos to both Richard and Hugh... I just watched last night Princes of the Yen.
Richard Werner is the Guru!! ...very enlightening conversation for both
I actually liked the questions as it brought out answers. I would have enjoyed if it had gone on longer.
Agreed.
The Best Technical Interview since...Thanks...
Alot of Hendry haters and I agree there should have been slightly less interruption however, I was happy that Hendry CHALLENGED Werner on his ideas OFTEN. This quality is almost always missing in financial interviews. I agree with Werner's theories almost entirely and this was first interview I saw with him where he was challenged early and often.
Agreed
@@joythought Agreed... I am not a Hendry hater, this is the best interview with Dr.Werner. I do believe we all would have learned more if Hugh would have let him finish his answers to Hugh's question.
Amazing. Fascinating. Enlightening. Please do another one with Richard and Hugh!!!
Fascinating and educational. Werner is solving real problems, Hendry is rationalizing his past actions.
Yes, it seemed as if Hugh was/is suffering from some form of Stockholm Syndrome.
Please get Ed Harrison to do the interview the next time as, not only is he competent, he doesn't have a goat wandering around his home. Hendry takes the conversation off on tangents and down rabbit holes.
the goat was pretty cool though, tbf.....
@@malthus101 Hendry's whole desert island shtick is quite entertaining but he's not the interviewer for me
Yeah boy! Get Ed on this topic with Prof. Werner!
Awesome. World needs more men like Richard Werner who dont have the rent collectors/interpreters between what his eyes sees and the conclusions he reaches. ;)
the absolute state of Hugh's appearance, but great discussion is worth it...
Great interview. However, I think they should redo this whole thing again with a better interviewer. The guest had really interesting points and I wish he had been able to elaborate more on them without Hugh interrupting him all the time.
Do they just get Hendry on to have a laugh at the comments? Shouldn't judge a book by it's cover but how can you take an interviewer seriously who looks as if he's auditioning for Castaway 2 and talks in riddles whilst waving his arms around like he's directing aircraft. Even Werner look bemused by his antics at points.
This is worth multiple viewings.
Dude, let Richard speak!
I don’t know not nothing about this world, but I’m learning. I did enjoy this conversation and the comments. Thank for TH-cam for giving intelligent people a chance to share there knowledge given people like me a chance to learn. 👍🏿
Outstanding! Profoundly enlightening.
Best guest so far.
This is the best ever video on economics. Confirms many things that I suspected
I loved the comparison between the reichbank and the bundensbank (especially as I am reading "Lord's on Finance" on this particular period). Really scary to think that the ECB is structured more like the first.
Hendry: a one hit luckster of 2010.. interviews someone we actually want to listen to.
You should get an interview of Richard with Kyle Bass
No way, Kyle Bass will keep interrupting with anti China rhetoric.
@@antpoo the CCP is literally evil, what's your point?
@@onecoolstorybro The only evil thing about CCP is it refuses to play puppet of the US like Japan did - the path that lead it down to decades of decline, if you actually watched this interview. The US Empire and its ideology is literally evil.
R WG - It’s why Trump is calling covid the China Virus!
R WG they’re all evil and they’re all in cahoots
This is an instant classic. Hugh Hendry is a legend.
More of Mr Werner. Awsome.
time 1:26:00 Werner's argument on the negative interest in Euro zone that the negative interest is on the required reserve amount held with the central bank, however the negative interest is on the excess reserve - not on the minimum required reserve the bank have to keep with the central bank
Interview of the month!
We really loved your long form convo. with Raoul the other day Hugh.. + this one is great also.. we love your laid back style with penetrative analysis.. You have found a 'market gap' :)
Many thanks on this interview a private citizen of Melbourne Australia
Both guys doing great job teasing out each others opinions on the cuff
Richard Werner is effortlessly cool in the manner of Jean-Luc Picard.
LOL ya 😃
Ahaha I new his demeanor seemed familiar - couldn't put my finger on it
Kudos to RealVision for picking this up. I really hoped for this after Raul and Hugh's interview.
The Real Macro! Fantastic
A lot to digest have to watch this one twice and try to absorb
Watch George Gammon he explains this very eloquently
When is hendry Werner 2?
Hugh Hendry bout to give John Mcafee a run for his money.
jimmy He’s an islander now. That’s the life!
@jimmy you're projecting
Central banking alchemy makes me sweat just like Hugh Hendry
Richard was coming to the punchline regarding FX, when Hugh jumps as his usual hyperactive self to interrupt and disrupt. Hugh! Listen for heaven sake!
Fantastic guest, one of the very best.
Great interview. Great guest. Have him on again , he had a lot to say that is very relevent to the current economic Experiment.
I like Hugh he's a cool guy. But the no 1 rule of interviewing is: when you have an interesting expert on, let them speak.
I love these two people so much! Real Vision is a fantastic production.
Schacht was involved with Reichsbank when it was returned to Chancellorship control and subsequently fixed the hyperinflation. When Reichsbank was privatized that is when private banks in the system hypothecated credit to cover currency shorts.
Richard's words were much more interesting than Hugh's interruptions - too much of the latter robbed us of too much of the former
@Thomas Hellberg Ask him - you won't have to speculate
@Thomas Hellberg have faith
What a great interview! Thank you RV
This is the conversation I have been looking forward to...ever since HH made specific reference to Werner's Princes of the Yen in his chat with Real Vision CEO recently. Great. I will definitely help with the sale of the new edition of Werner's landmark book. The very best on Real Vision. Cheers.
Perhaps a part two is called for on this one...!
REMINDER ! True wealth lies within the knowledge of skills.
Excellent interview.
Many thanks
Richard Werner is a genius - and a hero.
I wish Prof. Richard Werner was the Finance Minister of my country. What a legend.
how dare you to interrupt him on the most interesting part. How the currency money amount grow but do not devaluate against other currencies
Richard Werner, fantastic!
Kirstin Strand Professor Richard Werner, yes Godspeed!
TO be honest, who are all these other jokers you've been having on this channel? The ones saying basically the same stuff or nothing at all. There's only two economists I can ACTUALLY listen to, one of them is Peter Schiff, and the other is this man. This has got to be the one of the most insightful interviews on banking I've ever heard.
my man! Werner is next level even to Schiff . I love both too!
only other person is dead. Milton Friedman, He was a genius and love listening to his lectures on yt
A meeting of minds.
A large German one and a small, possibly chemically altered, Scottish one.
Hugh clearly got very lucky for one year and has been living off it since.
Fantastic interview. I agree wholeheartedly with the idea that central bank independence is a myth and generally a bad idea. What this was designed to do from the start was to make the politicians unaccountable for the radical monetary policy initiatives that were, and continue to be, implemented. The failure of politicians to make difficult decisions regarding fiscal policy has forced the hand of the central banks to do ever more radical monetary policy therefore they are not independent. Here in the UK, the fact that it was Blair's New Labour that introduced the independent central bank model tells you all you need to know that this was part of a sinister radical-left plot.
It's far right not far left
Interesting choice to let a Chief Investment Officer interview a professor who points out everything wrong with Finance Capitalism, which is Hugh's career. Hugh is also trying to portray the power of the central banks as nationalization, which couldn't be further from the truth. All this wealth is not nationalized for the economy, but for a select group of people which is a plutocracy. (Although it's possible he simply didn't understand what he actually said, he seemed to struggle with some topics)
I LOVED EVERY SECOND OF THIS INTERVIEW. More Werner and more Hendry please. JUST FKN AWESOME!!!!!
yup. precisely
These guys are fantastic