Sure, there are quite a few things to agree with Prof. Werner.
My main difference with him is not in banking, the need to limit bank loans to production not speculation, or in decentralisation of ba...
All reasonable .. but won't this nice strict isolation of money from the state fall over easily as soon as some state "needs"/wants to go to war?
War needs large amounts of money and if a state that is heavily indebted already just borrows more, it's credit rating especially when going to war will suffer and the debt would become too large to handle.
If that were to happen, the state would immediately propose to allow financing by the central bank again.
All they'd (the state) need to do is "convince"/propagandize the public that all this is necessary because this war is imperative/"forced upon us by the enemy" .. which unfortunately works too often.
War needs large amounts of money and if a state that is heavily indebted already just borrows more, it's credit rating especially when going to war will suffer and the debt would become too large to handle.
If that were to happen, the state would immediately propose to allow financing by the central bank again.
All they'd (the state) need to do is "convince"/propagandize the public that all this is necessary because this war is imperative/"forced upon us by the enemy" .. which unfortunately works too often.
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