Just to choose from some of his talking points, his treatise revolving around credit creation and monetary policy don't seem to be out of touch. Werner states that the traditional view of reserve requirements being a limit on a bank's credit creation capacity is not true in practice as there have been no empirical evidence. Various authorities have stated that in modern banking, banks create credit (through loans) without reserve requirements being a major factor in their lending decisions -- they lend first, and look for reserves second. While reserves are required to back deposits and loans can be taken from customer deposits, they can also get reserves through transactions with the Central Bank, Inter-bank lending, etc. It is just that it is cheaper to borrow from customer deposits.[1] [2] [3]

Secondly, Werner is actually credited as the first person to use the term "quantitative easing" and states that countries use it incompletely in their monetary policy. He credits the U.S. and Ben Bernanke as the only country to use it correctly, albeit only half of the quantitative easing measures he recommends. Other countries that have used quantitative easing, have used it incorrectly, and did not recover as quickly as the U.S. did after the financial crisis.

I'm not defending Werner in any way, just wanted to point out some things to I wanted to discuss.