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Richard Werner Interview – Covid Measures and the Central Controls over the Economy

Joining me today is Professor Richard Werner, here to discuss COVID-19 from an economic perspective, and the role central banks are playing in this rapidly shifting financial and societal landscape.


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Taylor Hudak
Taylor Hudak
Taylor Hudak is an American-Hungarian journalist based in Budapest, Hungary. Taylor covers issues focused on human rights, free speech, health, and law. She researches, writes, and produces video reports and interviews for The Last American Vagabond, and she is a contributor to Children’s Health Defense Europe. Taylor works closely with Doctors for Covid Ethics (D4CE), an organization of doctors and scientists dedicated to educating the public on health, science, and medical ethics.

13 Replies to “Richard Werner Interview – Covid Measures and the Central Controls over the Economy

  1. I was a Finance major in college (U of Houston, 1984); this is fascinating! Thank you for a great interview. I just ordered his book.

  2. Thats so weird… “Quantative easing” being used in the run up to the great depression but it was only invented in 1995 by Werner, I thought the same when Mark Carney said “never been tried before” 😂

    Check out the Fabian window at the LSE 😉

  3. Sorry but, IMHO, this is another economist with no real understanding of the true nature or history of REAL money. Most schools of economic thought are foolish and flawed.
    Centralized control is not a flaw, or issue. The issue is who is in control! The issue is in how money is defined, its nature and function and purpose. Fractional reserve lending is foolish. National debt is foolish. Private control is foolish. Real money is far far simpler that what Richard describes.
    These are some terms and concepts that most people misunderstand, especially economists: paper, fiat, central controls, digital, made from thin air, gold standard.
    What we all need is REAL money. Sovereign, organic, and just money. Not more convoluted systems.
    I will see if I can hook you up with someone who actually understands the nature of money, and has an idea of a proper functioning monetary system. I would suggest Stephen Zarlenga, but he passed away a few years ago.

    1. Sorry but if you are going to skip over this interpretation of history and wait for one that reinforces your opinions, what have you learned?

  4. Further understanding of the forces behind Empire and Slavery and Destruction:

    1. “This is Neoliberalism” (5-part documentary):

    2. Damon Vrabel | “Debunking Money – How the World Really Works”
    (6-part lecture):

    3. “Princes of the Yen:
    Central Banks and the Transformation of the Economy” (documentary):

    4. “The Spider’s Web – Britain’s Second Empire” (documentary):

    5. The Creature from Jekyll Island : A Second Look at the Federal Reserve

  5. A cynical (but not unreasonable) view on what the rulers/owners/bankers have in-mind re population:

    The first thing the masses need to get a handle on is that elites throughout history have facilitated and encouraged population growth for labor, military and tax purposes — they have done this, and much more that’s good for them and bad for the masses and the planet, through funding & directing (i.e., owning) parsons, bishops, ministers & priests, etc. (i.e., religions), governments (e.g., venal leaders, judges, etc.), publishers/editors/authors, doctors, schools/universities*, professors/teachers/textbooks*, CEOs*, soldiers & police, social influencers (e.g., politicians, celebrities, etc.) and mainstream media (newspapers > radio > tv/movies > internet) — so that fortunes could be maintained, sustained, increased & made through the exploitation of Earth’s resources by exploiting The Masses (aka labor/consumer/soldier/guinea pig/commodity/resource/slave).

    The second thing to grasp is that today’s world, including population growth*, health (bad) and wealth (of elites) is a result of Oil. EVERYTHING, including and especially Food Supplies that fuel & sustain the masses, is a result of Oil (e.g. petrochemical fertilizers, pesticides, antibiotics, machinery, refrigeration, packaging, processing, distribution, preservatives & other chemicals, irrigation/pumps, etc.)… Consider the Earth’s capacity to provide wholesome, organic, natural (i.e., healthy, non-disease causing) food without oil inputs and half a brain will let you see the planet is overpopulated; alas, the debate is clouded with ideological, religious and political perspectives and agendas so it remains a debate and conflict; lucky for elites; not so good for humanity at-large.

    The third thing to realize is: The future will not be Oil-based — from a elite/banker/investment-in-running-the-world point-of-view (50 years +/-), oil is running-out; investments, etc. are being directed elsewhere — and will therefore not support food/water supplies for the masses; the people who own the money supplies, productive land/water & means of production (the elites) know these things and are planning/acting accordingly: You can guess; my guess is: AI, IoT, nano-tech, RFID, digital $, driverless & drones, synthetic foods… All dependent on 5G that will cause a whole new paradigm of electro-magnetic microwave radiation disease that will be managed by MRNA vaccines; thus replacing the current, oil-based disease paradigm that is/has been managed with the long list of petro-chemical pharmaceuticals (and radiation, serguries/excisions and chemtherapies) we know today. Anyway…

    Apply these thoughts to what might really be going-on re SARS CoV2 and the “great reset” and you might start to understand where we’re being headed, by whom and why. Population and ‘disability’ reduction of the vast numbers of workers (as opposed to owners) around the world seems a likely agenda. M RNA vaccines seem a likely method of Human Control. And “5G is the cornerstone to all this [great reset]”
    –Dr. Michael Rectenwald

    A mass-awakening to overcome this status quo and dreadful path we’re on is unlikely — it’s hard for any one at any time to learn or recognize and accept they’ve been duped, used, diminished and abused — but we can each try to learn (and teach our children) and reshape our own lives to go forward knowing we’re not going to help or let a future unfold that is against our will and well being.

    Eat well. Be right. Do good.


    Images & music to visualize & contemplate the world:

    Koyaanisqatsi (Life Out of Balance):

    Powaqqatsi (Life in Transformation)

    Naqoyqatsi (Life as War):


    1. Good comment.
      Felt that something was happening when an economist friend of mine was working on the Nefci’s formula for prediction of recessionary cycles. Worked for FRBNY. Bush Jr. stopped the reporting of the M3 money supply needed to plug into the formula. I always wondered who was still using the data sets for their own purposes.

      1. I appreciate your reply — thank you.

        I forgot to include ‘economists’ in my list of who elites have always been “…funding & directing (i.e., owning)…”. (re economists: central banks specifically)

        Damon Vrabel did a good job breaking-down banking forces here:

        (full lecture: )

        Also, Economist Michael Hudson explains a lot:

        Renegade, Inc. Interview: Micheal Hudson, author, “‘J’ is for Junk Economics”:

        Guns+Butter Interview* | America Host or Parsite?:

        *Do a page-search (ctrl+f) for “Hudson” to find 25 other G+B interviews:

        All the above plus more “Econ.Fin.Money” info I compiled here:

  6. I can see during that interview almost 20 years ago when Professor Werner asked that man from ECB he said “there is a consensus”
    this looks very similar to the “scientific consensus” we see re COVID Plandemic and vaccines.

  7. ‘Fighting’ yesterday’s ‘battles’?
    Usually the ‘economists’ who use ‘macroeconomic models’ ‘believe’ that the solution to the current macroeconomic problem is the implementation of the ‘correct’ type of demand side policies. That is, how to increase income/output {‘growth’}.
    Increase M0, M2 or M3, cut r, or make it negative. Increase G and finance it by ‘borrowing’ from the central bank or by borrowing from the private sector. Or ensure that private credit is extended only for GDP transactions.
    All that is lacking is a ‘sufficient’ increase in effective demand!
    The neoclassical/Austrian economists, who believe that income/output is ‘supply determined’, will argue that all that is required to generate a large increase the growth of the underlying productive potential of an economy is for taxes to be cut and more ‘competition’, etc be introduced!

    Aside from the negative externalities of ‘growth’, what they ignore is the ‘energy supply side’?

    ‘We’ have 16 years?

    “Global peak oil production may have already happened in October of 2018 (Will covid-19 delay peak oil? Table 1). It is likely the decline rate will be 6%, increasing exponentially by +0.015% a year (see post “Giant oil field decline rates and peak oil”). So, after 16 years remaining oil production will be just 10% of what it was at the peak. “

    ‘We’ have ten years?
    “ . . . our best estimate is that the net energy
    33:33 per barrel available for the global
    33:36 economy was about eight percent
    33:38 and that in over the next few years it
    33:42 will go down to zero percent
    33:44 uh best estimate at the moment is that
    33:46 actually the
    33:47 per average barrel of sweet crude
    33:51 uh we had the zero percent around 2022
    33:56 but there are ways and means of
    33:58 extending that so to be on the safe side
    34:00 here on our diagram
    34:02 we say that zero percent is definitely
    34:05 around 2030 . . .
    34:43 need net energy from oil and [if] it goes
    34:46 down to zero
    34:48 uh well we have collapsed not just
    34:50 collapse of the oil industry
    34:52 we have collapsed globally of the global
    34:54 industrial civilization this is what we
    34:56 are looking at at the moment . . . “

    Or, have 5 years?
    “The greatest threat to humanity on Earth is the escalating Arctic atmospheric methane buildup, caused by the destabilization of subsea methane hydrates. This subsea Arctic methane hydrate destabilization will go out of control in 2024 and lead to a catastrophic heatwave by 2026.”

  8. Taking a Cobb Douglass production function: Q = AKa Lb Ec {a, b c are superscripts}. Where ‘E’ is energy input.
    If ‘E’ is regarded as net energy input, then this will fall as ECoE’s increase?
    If there is less energy input, then this will reduce the marginal productivity of labour {and capital}. This will lead to a fall in the demand for labour, a shift to the left of the maximum potential of the economy, and an increase in voluntary unemployment.
    More dynamically, the growth of the potential income/output of an economy will be reduced?

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