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Speaking about universal basic income, Professor Richard Werner said: “You will get 2 000 Euros into your account every month.  But of course, to run this efficiently [they’ll say:] ‘We need to use the latest technology so you need the CBDC chip implant’.”

Professor Richard A. Werner is an economist and professor of banking and finance. He is known as the proponent of a new post-crisis monetary policy he called Quantitative Easing (“QE”) when he proposed it in Japan in 1995 as chief economist of a British investment bank. Besides experience as senior managing director and senior portfolio manager at Bear Stearns Asset Management, he has worked as a researcher or consultant at the University of Oxford, the Bank of Japan, the Development Bank of Japan, and the Asian Development Bank, among others. He is involved in supporting the establishment of not-for-profit community banks through an initiative called Local First CIC.

At the Amsterdam Science Summit 2022, Prof Werner gave a lecture on central bank digital currencies (“CBDCs”) and the 2030 Agenda. At the sidelines of this year’s Amsterdam Science Summit, he spoke to Ivor Cummins about CBDCs and how high inflation has been orchestrated by central banks to further their agenda.

There are two aspects to QE monetary policies that Prof. Werner proposed: QE1 and QE2. QE1 is for the central bank to step in and purchase the non-performing assets in the banking system. The central bank buys up non-performing assets at face value and the problem is solved, banks have a strong balance sheet.  But that won’t be enough to get banks to increase credit. 

So, Prof. Werner proposed QE2 which allows the central bank to force the banks to create more money and push it into the economy. This would be accomplished with central banks buying assets, e.g., property, from the non-bank sectors.  The money the non-bank sectors receive from the sale of the property would then be deposited into the seller’s bank account.  When an economy is experiencing deflation, “that’s how central banks can push money into the economy directly,” Prof Werner explained.

QE1 was followed by Japan in the 1980s but the USA disallowed Japan subsequently using QE2.  And then out of the blue and at the wrong time, QE2 was adopted by the US Federal Reserve and other central banks in March 2020.  The intention of adopting QE2 at that time was to cause high inflation.  Why? To move economies onto a CBDC system.

“You have to think of CDBCs as a control system [or a permit system], not a currency,” Prof. Werner explained.

“It’s a conditional currency based on you actually getting that permit. Now, if you happen to be some kind of critic of government policy or a critic of central banks this could be difficult.  Or if you dare to step out of the 15-minute city zone, you know, maybe you’ll find that: ‘Oh [my CBDC is] not working’. Of course, these are things we’ve seen already in China. There’s plenty of videos where somebody tries to use it to buy a ticket and it doesn’t work because his social credit scores are low.”

And, effectively, there’s no real right to appeal.  With very few people controlling the very many, the controllers will use computers and algorithms to run the system.  If you appeal the blocking of CDBCs you’ll be dealing with automated responses.

Prof. Werner explained that the central planners, as he calls them, orchestrate inflation to cover up changes to banking systems.  For example, in the 1970s high inflation was orchestrated to cover up the move of the gold-backed US dollar to the petrodollar.  And the high inflation we’ve experienced in 2021/2022 has been orchestrated to cover up the move from the petrodollar to CBDCs.

In March 2020, the Federal Reserve and other key central banks adopted QE2, a recommendation for deflation or a shrinking economy.  In March 2020 economies weren’t shrinking but the Federal Reserve adopted QE2 and bought up assets from non-banks forcing banks to create credit.  It was very clear it was going to create inflation.  This was not an error in judgement, it was intentional, Prof Werner explained.  It’s a very specific policy that is very rarely taken.

Proof that this was a deliberate action, Prof Werner said, was that “just before covid in August 2019,  there was a conference in Jackson Hole of the annual Central Bankers conference but it invited BlackRock the big asset manager … and BlackRock made a proposal, they said ‘there will be another crisis … but this time we should create inflation’. They never explain why, they just say we must create inflation … and here’s how we’re going to do it and they cited my proposal without mentioning my name, of course.”

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“And, there’s one more factor,” Prof Werner said, “the Federal Reserve hired Blackrock in March 2020 to buy assets … QE was for a deflationary situation but the way they were using it had to cause inflation, there was no doubt.  And they knew it because they even said it.”

“So, this [current] inflation is entirely intentionally created by the central banks, by the central planners. So how are we going to punish them for this? ‘Oh, let’s give them more powers, let’s give them unprecedented powers over everything, over life on Earth through central bank digital currencies.”

“The true reason I think why they wanted this inflation because that is to cover up, essentially, the disintegration of the petrodollar and move to the new system which they want to be CBDC based.”

At the moment there’s talk about CBDCs being used via phone-based apps. “Yes, that is the initial phase. But what was already ready around 2015, is the ultimate goal – what they really want, apparently, I was told by a Central Banker – is CBDC looks like a small grain of rice that they want to put under your skin, which is my view a violation of human dignity.  And they realise there is a hurdle to get people to accept this,” Prof. Werner said.

So, they’re using crises, disruption and unemployment to introduce universal basic income, to soften the public up to accepting a CBDC chip implanted under their skin.

“You will get 2 000 Euros into your account every month.  But of course, to run this efficiently [they’ll say:] ‘We need to use the latest technology so you need the CBDC chip implant’.”

Further resources:

• I Invented QE, But Banks Got It Wrong, Says Economist, iExpats, 23 October 2013
• Video: Richard Werner on CBDCs, How They Prepare You to Be Their Slave, Amsterdam Science Summit 2022 (98 mins)
• YouTube Channel: Werner Economics
• Book: Princes of the Yen – Japan’s Central Bankers and the Transformation of the Economy by Richard A. Werner
• Quantitative Easing and the Quantity Theory of Credit, Royal Economic Society, July 2013