Richard Werner
speaker
4,694 appearances
9 recordings
3 series
first heard Jul 2025
last heard 22 May
Richard Werner’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 8 in all, peaking in Apr 2026 with 6.
Appearances
And so this credit guidance system was also used by the Thai Central Bank to exacerbate this crisis or this impending crisis.
And then once the crisis happened, everyone, oh, we need the IMF to come in.
And what did the IMF demand?
Well, you have to restrict credit creation now.
You have to tighten everything up.
and restrict fiscal policy.
Everything has to be restricted.
So recession, get a huge recession.
Industrial output collapsed by 25%.
The Thai baht now without foreign exchange reserves just fell and fell.
Thailand became very cheap and the IMF demands, well, we'll help you, but there's conditionality.
You have to now sell your assets to foreign strategic partners.
I advise them, don't do that.
Get out of the IMF program.
Here's how you can get back on your feet.
um it took them maybe two years but then they took the advice and they ended the imf program because it was it was clearly um a system to take down yeah it's a control mechanism to take the country yeah take the country down so
The Belt and Road Initiative offered and continues to offer alternatives to this fairly predatory system run via the IMF and the World Bank and other institutions that has not helped developing countries.
And so many countries think, well, let's try that.
At the same time, it offered China the possibility to diversify its dollar reserves.
Because as part of this initiative, it would give money to other countries, but for particular projects that build up infrastructure and therefore also helps these countries.
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