‘Father of QE’ Says ‘Serious Deceleration’ Of Economic Growth Ahead | Richard Werner

Richard Werner, Professor of Banking and Economics at the University of Oxford, regarded as the "Father of Quantitative Easing", discusses the future of monetary policy.
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*This video was recorded on October 18, 2023
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0:00 - Intro
0:30 - Father of Quantitative Easing
3:54 - Japan and QE
6:20 - Interest rates and growth
10:30 - Money supply
12:16 - Belt and Road Initiative
18:07 - CBDC
#banking #economics #money

[@hollygardner5076]

My Werner’s candor of the world bank and IMF is refreshing. Thank you Mr. Lin for having him.

[@Coooro9]

These were the best 23min spent in my week

[@tomd5202]

Wow! I was really expecting to not like this guy because he created QE. But he understands what QE is and he understands the consequences and he also saw that it wasn't implemented the way he recommended. He knows what's going on. I'm going to start following Mr Richard Werner. Thank you, David. Great interview!

[@stirp3717]

Yep, he's brilliant

[@DegenerateSpeculator]

Professor Richard Werner is legit. Search "Prince's of the Yen" his book about the fall of Japan and the start of QE. He gives plenty of reasons to be skeptical of Central Banks 👍

[@MrAnderson3]

He's got a really good interview on Valuetainment (PBD Podcast) it goes for about 2 hours He also got interviewed by Danielle DiMartino Booth on the same platform explaining it as well, very informative

[@utubesuxxxid]

LOL. QE's good, it just wasnt done right. RIIIGGHHHT. Come on man. Think about what youd think about. Not a joke lolz

[@JesseMessage]

F him

[@eb3Variety]

This is one of best modern economic overviews I am aware of. Professor Werner has a wealth (no pun intended) of knowledge that should be shared world over. A must listen over and over. Thank you David for having such a distinguished guest. A+ video

[@JesseMessage]

F that guy. These banks are ruining our world. F his quantitative easing

[@Brandon-rr9ik]

Exactly F him, look at the guy that supports him

[@curiositycloset2359]

​@@JesseMessagehe's certainly not on the banks side. Watch more of him.

[@JesseMessage]

@@curiositycloset2359 I'll pass. The system is crashing and it's the bankers fault...

[@curiositycloset2359]

@@JesseMessage Well, the man's one of the few living geniuses. Would you blame Einstein for Hiroshima, basically?

[@JasonAmir-qo4uo]

The 1% of rich people think of how to invest their money to increase their wealth during the recession. While 99% of struggling hard-luck people think of how to survive without food and daily necessities in the recession and the coming hyperinflation

[@SeanJohns-ze8ie]

I am a dividend investor for the most part but I have bought Tesla stock a couple of times. However I have bought Tesla stock again and will hold for the long haul this time.

[@TheRothschild770]

I’m so glad I didn’t really make any big mistakes when I started my investment journey last year. So far I’ve just been sticking small amounts of money into companies I’m sure will continue to exist for the next five years and if the stocks do well, I hold on. If not, I reinvest the bad ones into the good ones so I can get higher gains. I gained about $9.5k from putting in $4k into NVIDIA earlier this year so that was pretty nice.

[@RobertDamanii]

Great info, how can I get someone like that?…. I’m bombarded with the “don’t sit on it during the inflation, I wanted to jump in 8/22 and did nothing so far this year I think I need to get my feet wet

[@OwenFlex]

Working Chris Ryan Stewart, I started my first stock in Feb 21, 2022 I noticed the market went down the whole year so now I’m up a lot of money endless we go back to the October lows I will keep putting more stocks super excited for 2024 the payoff will be great 😌😌

[@OwenFlex]

CHRIS RYAN STEWART GOOGLE the name

[@specstreaming6127]

Riveting interview. I remember Prof Werner from The Princes of the Yen. That documentary has a lot of gems in it. Will follow his current work really smart fellow

[@kikolatulipe]

This is one of the best on banking u can get ! Very insightful!

[@Sitti2300]

Great interview!! Very refreshing to see someone who really knows what he is talking about, especially when it comes to China, not another "oh China is so evil totalitarian regime, don't do business with them"

[@scrambaba]

China is an evil totalitarian regime. No doubt Werner is handsomely compensated by his employer for his praise of them. Belt and road is evil pure, China’s empire being built. Werner is astonishingly naive in his full support for belt and road and the Chinese regime. As if the only thing that counts is rapid economic growth.

[@dpie4859]

But they are. Quite literally a communists dictatorship

[@the_Hash_Files]

Does he speak and write Chinese? I don't think he does

[@peterchristianos6503]

This is the most important interview I’ve seen on your channel of which I am a top fan! Thanks David for all of your superior content.

[@zyxwfish]

Best interview on your channel yet.

[@ralphp.3954]

More of this guy please. Listening to someone with first principles thinking and complete competency is so good.

[@TrollFreeInternet]

First principles thinking also means recognizing bs contrarian views…the idea that japan,korea,china,taiwan developed because they rejected washington conseus is laughable…you can look at objective facts…the idea that imf,world bank and washington wants to keep developing country poor is something that china has been pushing to promote its own financial system..how many countries has developed due to chinese loans or projects? One can argue that countries like srilanka,pakistan and many others are objectively worse due to chinese involvement…chinese loans are opaque and often times designed to benefit chinese companies and labor.

[@user-fn2oy1rq5p]

Actually, his contrarian take that central bank interest rate move in tandem with gdp growth, not opposite is based on empirics, not principles. Its the economic mainstream that follows a theoretical principles-based thinking (though thats probably 2nd principles, not surely known first principles)

[@peterkearns2640]

Great interview, Richard is an original thinker and he has insightful and important views to share.

[@glenn9576]

Sir Richard Werner the only Grown up in the Room! Listen up People!

[@PaintMyLifeAway]

This is one of the most informative interviews you have ever done.

[@vanjamalogorski8898]

David: Proffesor, is it true that in China pigs can fly? Professor Werner: Absolutely!

[@plain6255]

David you outdid yourself today! Thank You and Professor Werner for a great session!

[@charlesoleary3066]

In my opinion, Richard is the best Economist out there.

[@diane.moore-]

The economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[@91ScottieP]

Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?

[@mariaguerrero08]

Well I recommend you make a diversification plan because it's been harder to build a good stocks portfolio since COVID. My colleague suggested I hire a brokerage Adviser, and I've actually made over $457k with their help during last market upheaval. They used defensive strategies to protect my portfolio and make profits despite the ups and downs.

[@DanielMullins053]

@@mariaguerrero08 Please tell me how to connect with an advisor, my funds are being depleted by inflation. therefore I'm looking for a more profitable investing strategy to put my portfolio

[@mariaguerrero08]

Sure, the Financial advisor that guides me is “Mary Onita Wier” and she is renowned and has quite a following. So it shouldn't be a hassle finding her. Just look her up.

[@mikegarvey17]

Thank you for this tip, I must say Mary appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, educational background, and qualifications, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.

[@joefuentes2977]

I'd like to see this dude debate Peter Schiff 😊

[@sciagurrato1831]

Schiff is simply not in Werner’s league.

[@joniscoboloski4240]

Best interview David. What an eye opener!

[@moose7611]

So this is the guy that started this musical chair QE sh!t show. We are running out of chairs and the song is almost over.

[@anthonyyawtwumasimensah197]

You didn't listen to the interview did you.

[@horaciotopete7341]

Amazing interview !!! Thanks David for the good work! 👍

[@dominicestebanrice7460]

What an astonishing interview! Q: Why did Blackrock want inflation?

[@uncreativename9936]

It wasn't just blackrock, it was the fed also wanted it just as much. Basically they want 2% inflation a year, which they were failing to get from 2008 till COVID so they're letting inflation run higher for longer to bring the "average" for the past decade or so up to 2%. kzbin.info/www/bejne/iZ7HpWaNoa2oaLM The core reason why they want 2% inflation is because it help's give some margin of error to businesses investments. If you determine that by buying $500,000 worth of equipment will pay for itself in 10 years if you can sell the widgets it makes for $5. Inflation that happens after you buy the equipment will allow you to charge more for the widgets without increasing your debt for the equipment. Whereas if the currency deflated, you're forced to charge less for the widgets which will make it harder to pay back the loan.

[@miltonrue9026]

the blackrock inflation part is mind-blowing

[@virtualtours-rq7ro]

I would say Richard Werner is the best guest you have ever interviewed, David. Very underrated!

[@italianmiltyfriedman6264]

Thank you Dr Werner for expanding every governments ability to spend money they dont have really great idea. its worked out well.

[@rickdoolin9109]

I've been a subscriber to your channel since you went on your own David. I am now a subscriber to Professor Werner. I have listened to him before and imo he is by far the best on the subject.

[@rickjensen2717]

Richard is a fantastic communicator - I wish that I had studied with him.

[@toddsellars4694]

Great show, David and China discussion. I remember US President Richard Nixon's visit to China in 1972 and what China and its leaders were like during the 1970s. History is very clear about this. After Nixon's visit, the West began transferring massive amounts of Western manufacturing capacity, industry, and technology to China. Within 50 years, this created hundreds of millions of jobs and hundreds of Billionaires in China (many in government). Can you imagine China today had the manufacturing, industry, and technology transfer never happened?

[@timgibson3754]

Yes and Rush Limbaugh (until Donald Trump came) was all for shipping our industries to China

[@polcaltieri]

Correct, Kissinger helped to addressed money from American elites into China taking advantage from low wages and no labor rights.

[@MRT-co1sd]

So China will collapse now since factories are moving to India. India will go skyrocket and all thanks to the West 😂😂

[@25Soupy]

I always love to hear from Richard Werner.

[@markytwain6026]

Professor Werner, one of the very few economist who forecasts things that actually are happening. That and the fact that he has a backbone and is courageous enough to speak out against the powerful people and stand up for us, the little guys, is the thing that makes him different and outstanding from all the other economists.

[@ziryabjamal]

Im so glad more people are finding out Prof Richard Werner. Look up his empirical studies on how money is created, taken as a given now, but for a long time many theories fluctuated as to the origin of money creation.

[@ATOM_MORENO]

Absolutely awesome guest. Get him on more often

[@movieultrahd9809]

Hes so happy about the Recession coming in, like hes super excited to be witnessing it.

[@ph318]

It's good for buying assets

[@YouTubeUpdatesAreRuiningIt]

Economies never move in a straight line.

[@Elsa-qy9hr]

I'll check out his blogs & posts. Great show David 👏

[@YankeeStacking]

Wait, this guy’s claiming CBDC is NOT a control mechanism for China? Just an innocent response to WePay and AliPay?? He lost some credibility with me. I’m thinking he may be in the bag for the CCP.

[@user-hq2ml1wn5s]

Nothing big was mentioned about the current real estate concerns in China.

[@jonswanson7766]

The ubiquitous real estate bubble that has preceded just about every economic crisis, is it China's turn to be eviserated?

[@perseus6024]

Yep, you are right.

[@polcaltieri]

It's always nice to hear professor Werner. This time I have to disagree on some things he said: 1- China development wasn't only a product of its policies. Kissinger played a big role on it, addressing capital from the elites into China. And also China was used to slowdown inflation in USA in the 80s moving production chains. 2- In the last 40 years, Ireland moved from one of the poorest countries in West Europe to be the richest one without using Chinese or Japanese economic tricks. Instead they applied policies closer to international organisms. 3- The reason mainly Asian countries have developed in last 50 years is not only a fault from IMF, UN or BIS policies but cultural thinking. Western countries have been prone to implement welfare states, people think government must provide a bunch of services, rights and regulate the economy. Also political corruption is more common in Western (specially in third world countries). And last but not least, Asian countries tend to save more money than Western countries which embrace consumerism.

[@sciagurrato1831]

Look forward to your next peer reviewed paper in the American Economic Review. Unless you’re too busy with your new job running J P Morgan.

[@clemgr]

Stellar interview - Werner is fantastic and brilliant. Thanks David well done.

[@davidsaldivar6735]

I feel like we lived through a huge pump and dump.

[@shansundaram2199]

Fantastic Interview David! 👏👏👏. Thank you.

[@ceectheseraph]

One of my fav channels on this platform, thanks for sharing very insightful info. bless

[@ceectheseraph]

[@TheDavidLinReport]

Do you agree that an a serious economic slowdown is coming? Comment below and don't forget to subscribe! FOLLOW RICHARD WERNER: KZbin: www.youtube.com/@UCdChVgCHytsdI3nZ3dDgQ6A Twitter (@ProfessorWerner): twitter.com/ProfessorWerner Twitter (@scientificecon): twitter.com/scientificecon Website: professorwerner.org/

[@JesseMessage]

They're crashing the financial system to bring in a new one. The bankers are criminals responsible for war, terror and chemical sicknesses...

[@gregorysagegreene]

It'll be a collapse.

[@yougoagogo4843]

It will be an orchestrated cascade that will be designed to look like chaos and the architects will ride in on white horses acting like saviours

[@jurajsuja7706]

I think that trial with not backed credit is on the end .

[@joecarlton6583]

I chart Stocks and Indexes as a hobby and have for a number of years. A rather unknown chart algorithm called "the Devil's Cross" has been in play since August/September and was recently confirmed again. This indicates more pain ahead in the stock market. Consider that the stock market is an input factor to the government's leading economic indicator index, so this may not bode well for the economy.

[@costaselgreco]

Superb commentary by Prof. Werner. Thank you.

[@RSM363]

@TheDavinLinReport this was an exceptional interview. You need to have Richard Werner on more often.

[@danielmunoz5187]

Amazing interview, so insightful 👍🏻 thank you!

[@joecarlton6583]

Great interview! Very enlightening to hear Professor Werner! 10:31

[@yiani31]

So my understanding is this guy is very impressed with himself for (supposedly) coming up with the idea of socializing the losses of everyone participating in bad loans and asset bubbles, and reflating bubbles so the holders don't see their accumulated wealth evaporate as it would in a free market, and so nobody needs to be held accountable. What a genius. Some people I respect have praised his book so I expected more, having never heard him speak before. I sort of assumed he was on my side, but he seems pretty proud of the Fed post 2008. Maybe I'm missing something, but I doubt it, I think he just sides with the bankers.

[@curiositycloset2359]

You are missing something, yes.

[@sciagurrato1831]

This discussion is beyond your pay grade.

[@anthonyyawtwumasimensah197]

You are completely clueless.

[@yiani31]

@@anthonyyawtwumasimensah197 you guys are such twerps. my comment at least had substance, whereas you've said absolutely nothing. I would listen of anyone explained why my reaction is so wrong, but... you didn't

[@sciagurrato1831]

Dr Werner is the supreme economist in the world with an unrivaled knowledge of finance, banking, government regulation and politics…but also one of the most brilliant historians of the west. His two part, two hour analysis of the Carlson/Putin interview is the penetrating analysis of western geopolitics at this moment. His only possibly rival, Zoltan Pozsar, has vanished. But he left some deeply though out papers for Credit Suisse which are imperative reading for those involved in finance or geopolitics.

[@Nick_Henri]

Another fantastic interview David! Keep up all the great work.

[@JHillMD]

Amazing interview. Learned so much. Thank you, Richard and David.

[@graceamsterdam5404]

Great interview 🙏🏼. Excellent choice of guests David ! As usual.

[@jasonclement6305]

Great one david

[@jaysz6924]

He’s the smartest of them all

[@jurajsuja7706]

One of the best Economic thinker !

[@ericshang7744]

Excellent interview. But a few questions: The 2020 QE when Feds buying corporate bonds to create more cash in the system, more money supply should mean much lower price of monies, how come monies became so expensive on 2022 onwards? If 2022 higher interest rate is from economic growth, not inflation, does mean inflation is good, and sign of economic growth? The QE, is it free? If it’s not free, who is actually footing the bill?

[@1flo]

Very interesting interview and valuable insights. One of the best interviews so far, especially the QE part.

[@petesutho]

Thanks David for this really insightful guest. He touches on really in-depth macro knowledge that few people possess. Thanks again

[@Dialin27]

Amazing selection for a guest David , Thank You!

[@crouchhill]

And that's how you explain Macro economics beautifully 😊

[@adtiamzon3663]

Interesting informative interview with Professor Richard Werner. 👏👏Well done, as always, David Lin. 😍🌹

[@tahseengoni5242]

Excellent interview, really appreciate your work

[@kidneypop]

One of my favourite guests. Thanks David

[@vm-bz1cd]

Fascinating interview! a couple of disagreements: the Fed purchased very little corporate bonds; Absent the Huge Fiscal deficits and Helicopter money the money supply would NOT have grown that rapidly; As the professor himself noted the FED DOES NOT CREATE MONEY SUPPLY ON ITS OWN!

[@fubarbrandon1345]

Excellent guest...Thanks David for always bringing such great information.

[@_Thoughtful_Aquarius_]

Another great interview from The David Lin Report!

[@ridzuanali1919]

Wow! What a great guest. Thank you, DL!

[@italianmiltyfriedman6264]

"it wasnt designed to be used this way" yea the road to hell is paved with good intentions isnt it

[@lpslancelot05]

This guy is incredible. How is he not more widely known. He drops truth bomb after truth bomb.

[@curiositycloset2359]

Hes very well known.

[@lpslancelot05]

@@curiositycloset2359 maybe so, I’ve never heard of him before. I’m not a hardcore economics nerd, but I’m decently plugged in.

[@sciagurrato1831]

Everyone in banking and finance at higher levels knows about him - but he’s ignored because his interest is not in making wealthy people wealthier.

[@dankwok3]

mr werner, you have a new fan...finally someone that actually understands what china has been doing all along is different from what the west would do...everything is actually for the people!

[@DahonGone]

Including the total control and surveillance?

[@tttuu3309]

I like how h tells the truth about china instead of using politics

[@glenn9576]

Wake up and listen to reality…Sir Richard nails it!

[@demonridera]

This guy is good. Very good. I will read and follow him. Thanks, David

[@markneilson1044]

Such an interesting guest, im suprised I haven't seen him on any other financial channels

[@lynnybee888]

A great interview! Thanks to both gentlemen.

[@sojoba3521]

I wish Werner was given more attention. He speaks so lucidly about fundamental financial truths that are completely ignored by almost everyone else.

[@ericweis9771]

Great interview Thanks

[@Dietron11]

Best episode so far, what an interview

[@ashsobhani2379]

Fantastic Friday night insight! Learned a lot but somehow corroborated my thinking of the broken west! Thx David professor warner!

[@mikeh3175]

Wow, nice find David, if it was you. My new favourite analyst, he is a great thinker for sure !

[@SpiritintheSky.]

Fascinating. Both speakers on top form.

[@eddy5476]

Thanks David , one of your best interview

[@MYMY-zn2qh]

Great interview and guest David!!

[@azoteapost8734]

Thanks David to interview Richard Werner.

[@Berkdogg79]

This is easily one of your top 3 guests and interviews.

[@Kastra707]

Super interesting interview 🔥

[@motillopryscin622]

One of your best interviews !!

[@trader-xtrader-x2339]

Thanks for interview!! More Knowledge = Greater ROI!! Adding to my Data Bank 🏦

[@vincentmurphy9252]

David thumbs up Absolutely loved the content! This video is incredibly informative and well-presented. The insights shared here are invaluable, and I appreciate the effort put into making such quality content. Keep up the fantastic work!

[@poloelvira]

Good interview

[@markbrzezinski8889]

If these "people", sorry financiers are so smart then why didn't they "prevent!!!" the financial crises rather than offering a solution like QE.

[@utubesuxxxid]

Exactly. But don't point out obvious, irrifutable simple truths to people like this.

[@eric3434]

Are you asking why Blackrock recommended creating inflation? They hold $60b of real estate. Or are you asking why the government created inflation? They hold $33.67T of debt. Inflation helps both of these entities tremendously. At a great expense to the low to middle class income earners. "You'll own nothing and be happy."

[@_Ekaros]

What goes down goes up even more in the economy they are running... Even in proper depression they don't lower their living standards and they get to in future extract more money or pump the value of their holdings higher...

[@markbrzezinski8889]

​@@eric3434I would "hope" the democratic financial world does not work like that, but like you stated it actually did work like that.

[@markbrzezinski8889]

​@@eric3434Look I am 63! You are obviously right but it goes back further than that. To me it started with Dick Chaney an Co and his connection to government supplies to the US military during the Irac war on terror that did not exist looking for WMDs. You have to look at how weak G. W. Bush was and how he justified going to war against an ideology. To me that is when the US went off the rails spending borrowed and created money on a dead end no benefit to society at all project. So it Dick and "Halliburton" before Black Rock was even born is when this nepatism got out of control.

[@Biscuits3000]

Excellent interview

[@KL-nj9oe]

Great guest!

[@mattanderson6672]

Thanks guys!!

[@corneliuschristian6547]

Great interview.

[@eclkt]

Thank you

[@AbbeyRoad69147]

Awesome video David!!

[@TheDavidLinReport]

Thank you!

[@christodegoof2848]

Great interview. IMF has a track record of policies that don't work and end up hurting more than helping. Is it by design?

[@_Ekaros]

It must be malicious at this scale... Designed to keep extracting wealth from there...

[@polcaltieri]

That's not completely true. Most cases the policies are applied in poor countries (which are already in big economic problems) where political corruption is high. So IMF grants a loan and requests some objectives (as insurance to get paid). One of it is cut government spending in order to low deficit spending. The problem is that politicians always take a shortcut to do this raising taxes and generally cut education and healthcare programs instead of doing structural reforms. Then countries applied a second IMF policy which is open capitals markets in order to improve balance of payments. Because the measures that countries take to low deficit spending tend to be recessionary, the opening in capital markets lead to an outflow in capitals. All this lead to high unemployment, low wages and poverty increase. Another aspect is IMF is funded by countries but not strictly controlled by them, so heads are chosen politically. On the other hand, IMF delegations believe in countries numbers while the objectives requested are accomplished. So there is low intention from both sides to really help people.

[@christodegoof2848]

Not completely true, leaves room for maybe true. Take a look at what happened to Greece and the force austerity. It only exacerbated their woes. These effects are generational. Then look at Malaysia during the Asian financial crisis. They said thanks, but no thanks, to the policies that the IMF wanted to impose. And solved the country's financial issues in a relatively short time to the amazement of the international community. The then prime minister made a comment, that you no longer need to be colonised the old way. You can be colonised by economic means. I.e. To do the bidding of your new masters

[@christodegoof2848]

Debt is a business. Debt is part of the system. Without debt the system wouldn't work. IMF/World Bank are not charities. Ask the African nations that were forced to grow cash crops, instead of feeding their ppl and grow their economies They are old institutions run either by Americans or Europeans. The colonisers of late. They may provide stability, but on their terms. To keep the world order stable. A world order they created and control. I.e. Not democratic, not free and not fair. But what do I know,, I could be delusional, and just another crazie on KZbin.

[@polcaltieri]

Debt is not sth bad itself. It's a mechanism to bring future spending into the present. The problem is when you use debt to pay debt or to pay current spending. I agree with you, IMF and WB are not charities, they are lenders funded by Western nations but they are out of control of them. Africa problem is not only those institutions but corruption like in Latin America countries. You have seen many military movements trying to get power funded mainly by France but also by UK and USA. Then you have Argentina case, even with 150% inflation on last year and 100 USD salaries, the most voted party was the one in power. That's people fault not only IMF fault.

[@ruialex7745]

Uauuu This interview is massive!!!!

[@EricsIncognitoAccount]

What does his forecast mean for stocks?