evidence
He cites Chinese banks' infrastructure lending over the prior twenty years as evidence that banks create money out of nothing to finance real projects.
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Topic brief
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Banks
Protestant asceticism restricts consumption while freeing acquisition, so unspent surplus wealth moves into banks and imperial state power.
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Key Notes
evidence
Jiang presents the rise of major Chinese banks over the previous 20 years as evidence that banks create money to finance infrastructure rather than merely store preexisting wealth.
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model
Protestant asceticism restricts consumption while freeing acquisition, so unspent surplus wealth moves into banks and imperial state power.
Timestamped Evidence
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"Because over the past 20 years, Chinese banks, like the Bank of China, the Bank of Industry and Commerce, the Agricultural Bank of China,..."
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"...how do we know? Because over the past 20 years, Chinese banks, like the Bank of China, the Bank of Industry and Commerce, the..."
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"...of this money. Where's this money going? It's going to the bank. And who's using this money in the bank? The government is. And..."
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"They had access to all this surplus wealth that Protestants weren't spending. On the other hand, it had the psychological effect of freeing the..."
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"...online and control all financial transactions. It can basically program your bank account. So like, you can't buy cigarettes or you can't buy drugs...."
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"...create the game. And these people are the financial elite, the bank of international settlements based in Basel. So what do they do? These..."
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"...pretend to control the global economy. And they are the World Bank, the United Nations, WTO. You make people believe that this is all..."
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"And the financial elite, again, are like the World Bank, you said?"
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"...profession. Economists, weirdly enough, in their mathematical models, do not include banks or debt or money. And they treat money as if it's a..."
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"...well it's going to be jp morgan city group Goldman Sachs banks like that what happens then uh Westinghouse is going to have to..."
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"...to work out in the favor primarily of the wall street banks and then secondarily in favor of the military -industrial complex because you're..."
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"...to have money, well, you have to take loans from their banks."
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Relevant Lectures And Readings
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The first Secret History class begins with Kant and ends with alchemy.
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The first Secret History class starts with Kant and ends with alchemy.
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The Protestant Reformation begins as liberation from priest, pope, and ritual.
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