True economic growth requires decentralized money creation via small local banks rather than central planning.

“Because growth means more transactions this year than last year. That means more money is used for transactions this year than last year. That's only possible if you've got more money creation. But you've got one institution to create all the money. The central bank is not going to work because that”

Large-scale asset purchases were successful in restoring financial market function during the global financial crisis and the pandemic.

“And I think in the first instance they were both both e efforts were successful at restoring market function and at restoring financial stability.”