The man who put the phrase quantitative easing into the world sat down in 2017 to say the version central banks ran was not what he proposed. Richard Werner, 11 March 2017, a lamp, a table, 2 chairs. He coined the term in Japan in the 1990s, watching a decade long stagnation from the inside. Then the term travelled, got attached to a different set of operations, and produced a different outcome. Watch the stretch where he separates the policy he designed from the policy that carries its name. The gap is the whole interview. A checked shirt, a dark suit, no audience. He named it. Then he watched it get used for something else.