Professor Steve Keen: Banks Create Money Out Of Nothing And Here Is The Proof

In this episode, Farzin Irani sits down with Professor Steve Keen — one of the world's most unconventional and outspoken economists, widely known for predicting the 2008 Global Financial Crisis using private debt models that mainstream economics ignored entirely.Steve doesn't pull punches. He argues that the Strait of Hormuz closure is not just an oil story but a food and fertilizer crisis that could affect the entire planet. That banks create money out of nothing and mainstream economists don't understand this. That the AI boom is a classic Schumpeterian bubble with a financial crisis on the other side. That Western housing markets have run out of buyers. And that economics itself has never been a science.This is one of the most intellectually challenging and wide-ranging conversations we've had on Connecting the Dots.✅ The Strait of Hormuz — why this is bigger than an oil story✅ Fertilizer, food supply chains and the coming global food crisis✅ Australia and New Zealand — 20 days of diesel and what that means✅ The false flag playbook and why Trump may try to cancel the midterms✅ Why Israel pushed Trump into the Iran conflict✅ AI — a classic Schumpeterian boom and bust✅ The circular financing structure behind AI and why it will collapse✅ Energy as the real constraint on AI data centres✅ China's energy advantage over America✅ UBI — where does the money actually come from?✅ How banks create money — the truth mainstream economics hides✅ Live demonstration using Steve's Ravel software✅ Why the CPI is a lie and what real inflation looks like✅ How Steve predicted the Global Financial Crisis✅ Western housing bubbles — why they're finally running out of buyers✅ CBDC — a possibility or a political impossibility?✅ Global warming — the next five years look pretty bloody awful✅ Why economics has never been a scienceAbout Professor Steve KeenProfessor Steve Keen is one of the world's leading heterodox economists and author of Debunking Economics. He is widely credited as one of the very few economists who publicly predicted the 2008 Global Financial Crisis, based on his models of private debt and financial instability. He is the creator of the Ravel dynamic monetary modelling software and runs online economics courses through his platform. / @profstevekeen https://profstevekeen.substack.com/ / profstevekeen https://www.skool.com/stevekeen🌐 Connect with Farzin → https://linktr.ee/farzinirani🌐 Business website → https://www.sovereignty.capital/🌐 Free Wealth Diagnostic → https://www.sovereignty.capital/the-d...ProfSteveKeen, SteveKeen, Economics, HeterodoxEconomics, MoneyCreation, Banking, GlobalFinancialCrisis, PrivateDebt, AI, AIBubble, HousingBubble, UBI, CBDC, FoodCrisis, StraitOfHormuz, Fertilizer, GlobalWarming, ConnectingTheDots, MacroEconomics, WealthPreservation, Inflation, CPI, Schumpeter, RavelSoftware, DebunkingEconomics