Can central banks create booms and busts by manipulating the money supply? Do they do this in order to create a public consensus for economic, political, and social change? Professor Richard Werner, a monetary and development economist at the University of Southampton, says they can do this, and that they are doing this. This is what the Bank of Japan did in the 80s and 90s, and that is what the European Central Bank is doing at this very moment.
The documentary “Princes of the Yen” reveals how Japanese society was transformed to suit the agenda and desire of powerful interest groups, and how citizens were kept entirely in the dark about this. Professor Richard Werner was a visiting researcher at the Bank of Japan during the 90s crash, during which the stock market dropped by 80% and house prices by up to 84%. He experienced first hand how actors inside the Bank of Japan deliberately adopted policies to further an agenda contrary to the interest of the majority of Japanese society.… Read the rest