Prof. Richard A. Werner Official
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Prof. Richard A. Werner's official telegram channel to encourage and facilitate macroeconomic discussion. Subscribe to Prof. Werner's substack: https://rwerner.substack.com For media enquiries: richardwerner.media@gmail.com
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Channel Posts
| 2 |  Just Because Something Is Logical Does Not Mean It Is True
"Solari Builders: Understanding Money and the Economy with Prof. Richard A. Werner"
By Ricardo Oskam
At the recent gathering in Northern Italy that concluded the Solari Builders pilot course, Professor Richard A. Werner addressed two fundamental questions: What is money? And what problem does money’s existence solve?
Werner, a recurrent guest at Solari, is a German economist who, after training at the London School of Economics and Oxford, spent his formative years in Japan—as the first Shimomura Fellow at the Development Bank of Japan and then as chief economist at the Jardine Fleming investment bank in Tokyo. In the mid-1990s, he coined the term “quantitative easing,” proposing to the Bank of Japan something rather different from what central banks later carried out borrowing the same terminology. Werner’s 2003 book, Princes of the Yen, which described how Japan’s central bankers inflated and then burst a bubble to force through reform, outsold Harry Potter in Japan for six straight weeks.
Before diving into contemporary monetary theory, Werner took the Solari Builders group through one thousand years of history. With the Builders having visited a famous Italian Duomo the day before his presentation—a cathedral that was six centuries in the making—he tackled the question of how some of Europe’s most impressive cathedrals were built. Laborers contributed to structures they knew they would never see completed in their lifetimes, making the cathedrals a true testimonial to a higher culture where one honored God with every brick laid. Today, Werner notes, we would not be able to replicate those buildings at any sane cost, despite having better technology.
Since 1992, Prof. Werner has argued that banks do not pass along existing savings but create money out of thin air—the Credit Creation Theory. Werner used empirical evidence that he painstakingly gathered (rather than rely on axioms or theoretical deductions) to prove his claim to be true and disprove other theories such as the intermediation theory of banking (which claims that banks are just financial intermediaries, both individually and collectively) or the fractional reserve theory of banking (which claims that banks are individually financial intermediaries but collectively create money through fractional reserve banking).
The common thread uniting the historical examples Werner references is the creation of money as an animating force. The stone wheel money of Yap and the split tally stick made of cheap hazelwood (the grain of its split being a unique fingerprint to identify its validity) became money because people accepted them as money. His point, arriving through the back door of history, is that our own money is the same instrument, with the promise thinned out—a claim with no commodity behind it.
The tally stick was also the original accounting method: charge on one side, discharge on the other, cash recorded as it moves, checked afterwards against the counter-rolls kept in the Treasury, making it hard to lie. Double-entry accounting came later, and in Werner’s reading of it, represented not an advance in transparency but a smokescreen. Interest was illegal in Christian Europe, and the goldsmith-bankers had more than interest to hide: they were lending out gold left in their care and writing deposit certificates for gold nobody had deposited.
To truly understand the economy, we must understand what money is and how its successful use is intertwined with our governance system and a healthy culture that supports a fundamental level of trust. Will the rapid influx of newly created money in our economy facilitate borrowing for productive purposes—leading to growth without inflation—or will it further raise consumer prices and spawn asset bubbles?
Full Report: https://solari.com/solari-builders-understanding-money-and-the-economy-with-prof-richard-a-werner/
Subscribe to http://shop.solari.com | 1 045 |
| 3 | On the Michael Knowles Show
https://x.com/MKnowlesShow/status/2085806676452524251/video/1?s=46 | 1 879 |
| 4 | Determinants of High Economic Growth – Empirical Evidence from Germany between 1860 and 1913.pdf | 2 492 |
| 5 | Determinants of high economic growth. New paper with Andre Dragosch. Published in a peer reviewed journal. July 2026. | 2 370 |
| 6 | My new report is out. Bearer not of good news.
https://rwerner.substack.com/p/the-war-against-iran-is-likely-to | 3 251 |
| 7 |  Anita Orbán and the American Influence: The Pro-war Network Behind Hungary’s New Foreign Minister
My latest in Hungary Today: https://hungarytoday.hu/anita-orban-and-the-american-influence-pro-war-network-behind-hungarys-new-foreign-minister/ | 1 799 |
| 8 |  💥💥💥 IMF and World Bank are 'designed to keep developing countries poor' — Economist
Richard Werner goes further on the institutions themselves: the IMF/World Bank system was built to replicate British colonial extraction, not enable development.
🔶 The system functions to keep developing nations as cheap exporters of raw materials — structurally, not accidentally
🔶 Werner describes it as "the modern version of the colonial British Empire, American-dominated"
🔶 Belt and Road offers a functional alternative — which is precisely why Western institutions treat it as an existential threat
🔶 Many African and developing nations have joined BRI for this reason, Werner says — not ideology, but because the IMF alternative traps them
💬 "That system has been designed to keep developing countries from developing, to prevent development, and to keep them poor but effective, cheap exporters of raw materials," Werner told Tucker Carlson.
The West doesn't oppose BRICS and Belt and Road because they're dangerous. It opposes them because they work.
👍 Boost us | Chat | @geopolitics_prime | 2 171 |
| 9 |  🚨💵 1997 Asian financial crisis was IMF-engineered to strip Thailand's assets — economist
Richard Werner — professor of banking and creator of the Quantity Theory of Credit — was sent to Thailand in 1998 as an official adviser from the Asian Development Bank. His conclusion after analysis: the crisis was deliberately engineered.
🔴 Thailand's central bank allegedly worked with the IMF to engineer a boom-bust cycle, then invite IMF intervention
🔴 The IMF's conditions required Thailand to sell its banks and industries to foreign buyers — at deeply discounted prices, with the currency artificially devalued
🔴 Werner names the mechanism: manufacture the crisis, collapse the currency, then force distressed asset sales to foreign elites at pennies on the dollar
🔴 Thailand had been performing strongly before the crisis — the collapse was not inevitable
"I concluded that it was a plot by the local central bank in Thailand against the country, together with the IMF," Werner told Tucker Carlson.
This is how the global elite carries out heists on an international scale.
👍 Boost us | Chat | @geopolitics_prime | 1 663 |
| 10 | My new Tucker Carlson interview is out | 1 560 |
| 11 | Every Major War Begins Under False Pretenses & the Central Banks Are Beh...
https://youtube.com/watch?v=3Wi_zQX--wE&si=L7Z4oxdpnLwX5iS3 | 4 067 |
| 12 |  From cozying up to the Bush family to delivering congressional testimony — a closer look at Hungary’s new Foreign Minister’s ties to the US Government | 0 |
| 13 | Hungary’s New Leadership and the Billion-Dollar Burden of the European Union
https://www.youtube.com/watch?v=z6RbuayhfZA | 0 |
| 14 | Brief analysis of the bad policies of the Hungarian opposition candidate, somebody who has never achieved anything in his life, except creating a big mess, and now wants to lead Hungary based on EU/Ukrainian backing:
https://europeanconservative.com/articles/commentary/hungarys-advantage-at-risk-in-tiszas-brussels-bargain/ | 0 |
| 15 |  Post-Orban Hungary: Economic Implications of Regime Change in Budapest
US Vice-President JD Vance travelled to Budapest to support the Hungarian Prime Minister facing pressure from a foreign-backed challenger who could reshape EU politics
In this report, I examine the economic policies of the opposition — Peter Magyar's TISZA Party.
➡️ Read more: https://rwerner.substack.com/p/showdown-in-budapest-eudeep-state | 0 |
| 16 |  LIVE NOW on PBD: https://www.youtube.com/live/53rigihjVZ8?si=MSOyRRJ0-YPWuCcf | 0 |
| 17 | I'lll be on the PBD podcast today LIVE at 9am Miami/ 3pm Paris!
WATCH: https://www.youtube.com/live/53rigihjVZ8?si=K1Dq4yHUE8yi8G-m | 0 |
| 18 | NEW video out now!
Economist Warns of Europe's Dystopian Digital ID Program
▶️ Watch: https://youtu.be/UvNoZ-yaIQ8?si=IWFLk66jTbfvJgZw | 0 |
| 19 |  💥Explosive Äußerungen aus dem EU-Parlament gehen viral.
„Die Inflation ab 2021 wurde von den Zentralbanken herbeigeführt. Dann inszenierten die Planer eine fingierte Pandemie. Bereits 2017 waren Leute wie Jeffrey Epstein daran beteiligt, dieses System für Investoren wie Bill Gates zu etablieren, damit diese ein Vermögen machen und die Armen loswerden konnten.“
– Richard Werner | 0 |
| 20 |  Prof. Dr. Richard Werner will speak at the European Parliament today in an event hosted by Christine Anderson, MEP, arguing against reliance on Digital ID, the use of central bank digital currency and the planned tokenization of all assets, including nature and the air we breathe.
Prof. Dr. Werner opposes the ongoing creation of a nightmarish digital prison desired by the central planners who work to curtail our rights and freedoms.
WATCH LIVE: https://www.europarl.europa.eu/streaming/?event=20260304-1630-SPECIAL-OTHER | 0 |
