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Deplorable Revelations of the German Bundesbank

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Deplorable Revelations of the German Bundesbank

The Role of Banks, Non-banks and the Central Bank in the Money Creation Process

Authored by Michael Schemmann

The Author, Michael Schemmann, is a Professional Banker, Certified Public Accountant in the State of Washington, United States, and Associate Professor of Accounting and Finance emeritus.

The title "Deplorable Revelations" refer to the bankruptcy of historical teachings in banking, the eternally backward views and orientation of the German Bundesbank including its misconceptions and misrepresentations in its Monthly Report of April 2017.

"Much discussion of money involves a heavy overlay of priestly incantation. Some of this is deliberate. Those who talk of money and teach about it and make their living by it gain prestige, esteem and pecuniary return, as does a doctor or a witch doctor, from cultivating the belief that they are in privileged association with the occult - that they have insights that are not available to the ordinary person. There is nothing about money that cannot be understood by the person of reasonable curiosity, diligence and intelligence." (John Kenneth Galbraith (1975), "Money: Whence it came, where it went.")

Publication Date:
1547166304 / 9781547166305
Page Count:
Binding Type:
US Trade Paper
Trim Size:
6" x 9"
Black and White
Related Categories:
Business & Economics / Banks & Banking

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