Friday, 15 March 2013

The Fed is Coming to a Theater near you

"Money for Nothing" is a film about the Federal Reserve that will soon be coming to theaters in the U.S. According to the website (my bold):

MONEY FOR NOTHING is a feature-length documentary about the Federal Reserve - made by a Team of AFI, Sundance, and Academy Award winners – that seeks to unveil America’s central bank and its impact on our economy and our society.
Current and former Fed officials, top economists, financial historians, famed investors and traders provide unprecedented access and take viewers behind the curtain to debate the future of the world’s most powerful financial institution.
Digging beneath the surface of the 2008 crisis, Money For Nothing is the first film to ask why so many facets of our financial system seemed to self-destruct at the same time. For many economists and senior Fed officials, the answer is clear: the same Fed that put out 2008’s raging financial fire actually helped light the match years before.
As the global financial system continues to falter, the Federal Reserve finds itself at a crossroads. The choices it makes will greatly influence the kind of world our children and grandchildren inherit. How can the Federal Reserve steer our nation toward a more sustainable path? How can the American people – who the Fed was created to serve – influence an institution whose inner workings they may not understand?
The key tenet underlying Money For Nothing is our belief that a more fully and accurately informed public will promote greater accountability and more effective policies from our central bank - no matter the conclusions any individual draws from the film.
Good news that the movie could make more people aware of the Fed But based on what is stated above the movie could turn out to be a big disappointment for those of us wanting to expose the Fed for what it really is (a banking cartel) and shut down the Fed (in due course): the Fed did not "put out 2008’s raging financial fire", it merely transferred money and purchasing power from ordinary tax payers to the banks and postponed the inevitable and necessary correction and adjustment to the malinvestments made in the run up to the 2008 crisis.

But, look forward to seeing it anyway.

Visit the Money for Nothing website here.

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