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 Interest rates affect GDP growth, right? WRONG!  Richard Werner reveals why ... You won't believe this Full interview here: Finance Manager Interview #001 - Rich...   Richard Werner, the author of 'quantitative easing' and a leading banking expert in the world: on interest rates being a provenly false driver of economic growth and the damaging policies of central banks, on centuries old misconceptions about money creation and the actual role of banks in creating money out of thin air, which keeps ravaging markets and hurting the economy via boom bust cycles, about ECB whose policies managed to help destroy 5000 banks in Europe by 2020, about meeting Alan Greenspan who got an instant amnesia about credit creation as the only correct money making theory, etc. However, professor Werner also proposes straightforward solutions for a stable and long-term sustainable growth and development of society in the broadest sense.  The interview with the professor, who doesn't beat around the bush, was recorded on October 15, 2020. The printed version of this thought provoking talk has been published at 'Finance Manager', the leading business weekly magazine in Slovenia.
 

There was a time when one earner could support an entire family. However, due to escalating costs in the 1970s, it became necessary for wives to enter the workforce. By the 1990s, even two incomes were insufficient, leading families to abandon savings. By the 2000s, with both partners working and no savings, families began borrowing well beyond their means to cope with inflation.  This documentary traces the global economic crisis from the Bretton Woods Agreement to the Nixon shock and the Occupy Wall Street movement. It reveals how the U.S. Federal Reserve has led not only the American economy but also the global economy to function much like a Ponzi scheme.