Where Did the Money Go? - PBD vs Werner

Prof. Richard Werner joins Patrick Bet-David to share his view on the health of the United States and to explain how central banks can, without cost, buy bad debt from the banks at par value.
Werner argues that buy purchasing bad debt at par, the banking system will be revived and, in turn, the banks can pull the economy out of a recession - all without any inflation! PBD argues that by purchasing bad debt, central banks add new money to the economy and inflation will only worsen.
Werner provides several examples of when a central bank has taken this emergency measure, to purchase bad debt off the banks, without injecting any new money into the economy: Japan 1945 & UK 1914
Where did the money go? Who is right?
Richard is the Chair of Valhalla Network, a DAO whose mission it is to establish a global network of community banks; building a banking system owned by the people, for the people. Richard holds a First Class Honours B.Sc. in Economics from the London School of Economics and a doctorate in Economics from the University of Oxford. In the early 2000s, Richard authored the Japanese #1 best-seller 'Princes of the Yen', and in 1995 he invented the policy tool 'quantitative easing'.
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