Foreign Debt Trap And The Neocolonialist Agenda
October 10, 2023: In the last episode of Declassified, we talked about how the credit creation theory proves that banks create money out of thin air. We wondered whether there’s hidden agenda in downplaying this theory and if it is linked to other economic matters, such as foreign debt trap.
We covered the theory itself in our last episode. You can watch it here:
The second episode here dives deeper into the hidden agenda behind burying the credit creation theory and its link with foreign debt trap. German economist Richard Werner, who invented Quantitative Easing, supports the credit creation theory. He says banks definitely manufacture money out of nowhere.
Now, why is it that the most powerful people in the financial world don’t want the public and governments to realise this? What’s the hidden agenda? Werner feels the whole mystery is connected to foreign debt trap that results from unending loans taken by economically weak countries from multilateral banks, such as the World Bank, IMF, Asian Development Bank, EBRD, etc.
If a country’s domestic banks can produce 97% of the money supply out of thin air, then why go to foreign banks for help? International debt, which is expensive to service, and therefore, the foreign debt, can and should easily be avoided. Watch this special report to know more about this mysterious banking politics.
(Image and video credit for this report: Pixabay, Pexels, Wikimedia Commons, Elsevier, ScienceDirect, Professor Werner’s official website, Twitter, Flickr).
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