First time I'm hearing of Richard Werner, but he said many interesting things in this interview. Does anyone know whether he seriously engaged with Bitcoin yet? nostr:nprofile1qqsw4v882mfjhq9u63j08kzyhqzqxqc8tgf740p4nxnk9jdv02u37ncpzemhxue69uhhyetvv9ujuurjd9kkzmpwdejhgqg4waehxw309ahx7um5wghx6ctvd9hzummwdsq3gamnwvaz7tmwdaehgunnv968vcfwdejhg34qm72 maybe? https://tuckercarlson.com/tucker-show-richard-werner
Discussion
Main concern when listening to him was his insistence on the necessity of credit creation ābut just in the right areasā as the harbinger of prosperity. Aside from that, quite an enjoyable conversation.
If he hasnāt engaged Bitcoin I think itās likely from this angle.
That's the main problem I have with his take: he recognizes that money creation is fraudulent, yet suggests that it can still be good since we could theoretically have a banking system that is forced by regulators to only lend money into existence for "productive" investments.
Watch ā princes of the yenā if you want a deep dive on japanās financial system
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Mmmh, I heard another interview with him in German on Marc Friedrich's show. When asked about Bitcoin, he made up some crazy stuff about Bitcoin being engineered by a 3 letter agency to push down the price of gold after the GFC. Weiss ich nich, Digger...
Glad I asked š
From 2024.
After the Tucker Carlson interview, he quote tweeted a Swan post about a "breakdown" of the interview, however, he hasn't said anything in favor of bitcoin that I could find.
oh boy š
I attended a hosted debate between nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak and Selgin a few years back.
There was a before and after āvoteā from the audience on a question.
Would be fun to do some Werner debate on nostr. Maybe on nostr:npub1eaz6dwsnvwkha5sn5puwwyxjgy26uusundrm684lg3vw4ma5c2jsqarcgz with zaps, polls, audience questions.
More interesting would be cohorts before/after debate
:
-how did nostr people change their position
-bluesky people
-fiat economics professors etc.
The Tucker format is fine. Could be so much better with audience interaction.
From what Iāve found, Richard Werner hasnāt seriously engaged with Bitcoin publicly yet. Heās critical of the traditional banking system, which aligns with Bitcoinās critique, but he hasnāt openly endorsed or discussed Bitcoin in depth.
can someone purple pill Friedrich and Werner please?
He has some inaccurate takes from an Austrian perspective.
Yep. And there were just some contradictory things he said even without needing an Austrian perspective. It was pretty incredible listening to him complain about FRB and then advocate for smaller banks to do more FRB...
Good episode that talks about all of the issues with Werner's takes:
Thank you!
Yeah. I listened to their critique of him.
Absolutely. Some parts were hard to listen to.
you might know him better by high high school nick name - Dick Weiner.
Heās a regular speaker at the Mallorca blockchain days, which is mostly bitcoin. The talks Iāve seen were not focused on bitcoin though
He thinks CIA created it and will use it to ruin the world.
Iām reasonably sure heās controlled op
Heās against it. He believes the money supply needs to be flexible.
nostr:nprofile1qqsxu35yyt0mwjjh8pcz4zprhxegz69t4wr9t74vk6zne58wzh0waycpr9mhxue69uhhqun9d45h2mfwwpexjmtpdshxuet59uq3zamnwvaz7tmwdaehgu3wwa5kuef0xzl5c7 but here he seems to have changed his mind. From 2 mins he explains his opinion of Bitcoin. Previously heās said though that he believes in flexible money and credit creation. https://poddtoppen.se/podcast/1451766883/bitcoin-takeover-podcast/s15-e56-prof-richard-werner-on-bitcoin-cbdcs-banking
Hm. Interesting!
I am a 100% BTC Maximalist but at the same time I think private companies should be allowed to create credit out of thin air, its what the free market wants.
But no lender of last resort/ central bank.
In short, 19th century Free Banking.
Not sure but, I do think he is more into diversified portfolio. āGold longterm. Crypto & Bitcoin short to medium term,ā¦..ā
https://youtu.be/DhDFGNyijecl nostr:nprofile1qqsx5dvc2g3cmjgz4mgelwlk5p2ln2ljrsw23y2ar38z0agd7tefpkgpp4mhxue69uhkummn9ekx7mqpzemhxue69uhk7unpdenk2urfd3kx2u3wdaexwqqyd3x
Thx. Iāll answer Gigi too
The nostr:nprofile1qqs9qp2dql3vmuetzq6hw77eeaeej2j2ughers22wch0m2jm7c05w4gpz3mhxue69uhhyetvv9ujuerpd46hxtnfduq3qamnwvaz7tmwdaehgu3wd3skueqpzpmhxue69uhkummnw3ezuamfdejsvjqmq7 pod with him covered bitcoin
Nostr bubble bois are ngmi, I interviewed Werner twice already
https://www.youtube.com/live/brVohvFNNVA?si=-Ed4hwvwu4_4of4p
nostr:npub12qz56plzehejkyp4waaannmnny4y4c30j8q55a3wlk49haslga2snypdx8 npub?
You're welcome
Where did you get the bitcoin pizza tshirt?
Handmade in Paris by nostr:npub174cf432y5hrjcetx004h8y4fyg9ptswq83c8x84kjthqtlc4fwgsuzwwqh
Nice, thanks! I will check it out. Also, would love if you were able to compress your podcasts down to 100mb and post them on Plebs. Or, maybe did more shortened versions that you could then link the YouTube video if people wanted to see the whole video. This way people who don't want to use Google services could instead use Nostr to watch some of it š
My audio files have 200 MB plus and you want me to compress the video down to 100? š
Not entirely by choice š„² Plebs uploads the videos across numerous Blossom hosts, which most only support 100mb uploads. It's for good reason, as the hash generation would take an enormous time for larger files. Luckily, Plebs does have some auto compression that might work, but would suggest trying to compress it yourself first, if possible. Decentralization isn't always the best, but at least your video is spread across multiple hosts and if one goes down, the hash is used to fetch it from another.
MP3 podcasts at 32kbps (4 minutes per MB) are listenable. 64kbps is perfect.
1:17:40 truth āHonneā
nostr:npub1yzvxlwp7wawed5vgefwfmugvumtp8c8t0etk3g8sky4n0ndvyxesnxrf8q nostr:npub1xtwy7fvu8f7wdtgnpm68wyrf6uxshf49tn5kp7kyusu6872amn8qh06rus nostr:npub147whqsr5vsj86x0ays70r0hgreklre3ey97uvcmxhum65skst56s30selt nostr:npub14ya7n7czu3kyq3m2sn6kjawmtq6ll6kerrlm90gz9yzfjmflmsxq8dsn39
Like I understand he is pro decentralized banking. But he says we can have QE with controlled credits that only go into growing industies and not into investment assets.
There is a nice independent film about princes of the yen
Richard Werner taught me about City of London, how financial metrics can be misused to create narratives to mislead eg GDP, and he believes in lots of small, decentralized community banks.
Helped me to understand the machinations of big banks and how they extract value (loot).
My black pill moment is I'd like to find out the real story, behind the Bank Secrecy Act - because I believe thats where the real trouble lies.
He's never expressed an opinion about BTC on any of the podcasts I've seen.
Thank you for the Tucker Carlson link.
He didā¦ on my interview with him in a panel. I donāt think he gets it.
In this interview (July 2024) Iām asking him explicitly about bitcoin and his vision on more small community banks- challenging him with the fact that heās essentially preaching for more fiat banks, and further fractional reserve banking and from his answer I felt like he doesnāt get Bitcoin, nor that he sees the issues/problems with excessive printing of fiat and fractional reserve / debt creation. I think itās a bit strange to be honest. Also when Philip Bagus challenges his view, he calls it nonsense.
Watch from minute 27:
Not the question but Phillip Bagus got purplepilled, even if not orangepilled.
https://primal.net/e/nevent1qqsdgx6fdzshs6l5nc5xxzlgtqp3vvkenngzg690l65qmkglu66ex3qtf2npf
We live in a time of transition, between the times before Bitcoin and the time after. In decades we cross a divide and on both sides the other world feels so far away. Bitcoin is the technology but it's the people that matter and we can try to help the two worlds be seen at the same time
set an interview with him again in five years from now, when bitcoin is at 1milj$ šš
Thank you! ššš«µš½
FYI nostr:nprofile1qqsywt6ypu57lxtwj2scdwxnyrl3sry9typcstje65x7rw9a2e5nq8sprdmhxue69uhhyetvv9ujucnfw33k76twwpshy6ewvdhk6qglwaehxw309a3xjarrda5kumtp0p5k6ctvd9ehguewdahxc6twv5ag0zn0 šš¼
Shamelessly copy/pasting my response to Marty but echo the sentiment from Efrat and others - the so-called "father of QE" is not incentivized to honestly discuss the problem or the solution.
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It was interesting but it was littered with logical inconsistencies and contradictions. Tucker doesn't have the monetary chops to push back either (not a knock on him, he can't be across everything).
John Haar summarised it well I think
Yup, good summary. Thanks!
It seems he preliminarily touched bitcoin but does not fully get it, yet, so is a bit apprehensive. I think he just needs a few things cleared and he's be on fire about bitcoin.
@Vlad's interview with him shows that towards the end.
What's your assessment Vlad?
He invented QE and is "famous" for his research on the credit creation theory which he proofed by taking a loan at a german bank and audited the banking book an traced where the money came from (out of thin air).
He is the real deal and many austrian fanboys could learn important things from him. What he is advocating is how to use the current system for the benefit of society. I do not see that happening but the information he provides is amazing and very important. I made a compilation post with him here:
https://www.thewayofcoherence.com/post/secrets-of-the-banking-trade-and-rules-of-the-money-game
I first listened to Richard Werner on the What is Money Show by Breedlove and thought he had really interesting things to say about the history of money.
I clipped one sound bite at the time in which he accused the ECB to willingly create a Real Estate bubble (see [1]). Might be worth a listen.
[1] Link to Clip. https://fountain.fm/clip/TYc6ix2PZsRbdhDI8L3K
[2] Link to full 2,5 hrs episode. https://fountain.fm/episode/j25nX0PxkSaYU8kqyMhf