Should every American watch the documentary "Money, Banking, and the Federal Reserve?"?

Question

video at:
http://video.google.com/videoplay?docid=-466210540567002553

Money, Baking, and the Federal Reserve is a documentary that exposes the Federal Reserve as a fraudulent counterfeiting cartel that is destroying the dollar and harming the poor and middle class.

Should every American watch this documentary?

Answer 1

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Every sucker who has no clue about currency markets should feel right at home.

I haven't watched such a big pile of crap since "Bounce".

Answer 2

I haven't watched the documentary. I have, however, read many books on Money, Banking, Federal Reserve, etc.

To the previous poster:
Nothing about the gold standard precludes loans. On the contrary, acting as an intermediary between borrowers and lenders is one of the most basic functions of a bank. The problem arises when the lender loans out money... that isn't there. If a bank is permitted to make $10M in loans, but only has $5M that lenders were willing to deposit... The bank has essentially created currency from thin air. As the borrowers spend the loaned money, individuals, firms and other banks redeem the payments (cash the checks the borrower wrote) and the lending bank runs out of specie/reserves. The bank is bankrupt.

If, on the other hand, the bank received $10M in deposits, and made $10M in loans, there is no problem.

Incidentally, in the first instance, because there is too much money being loaned out the interest rates are too low for the level of deposits, leading to an excess of investments (the boom cycle of business). As the money runs out, many investments have to be liquidated because they can't be finished. Half-built houses are sold for lumber and land in order to pay back the loans. People are laid off when the employers can't afford to pay them. Money supply contracts, and unemployment rises. (The Bust cycle of business)

In the second instance, there is no Boom-Bust, only growth being paid for by savings, (reduction of immediate consumption leading to increased capital stock)

Answer 3

ZOMG it's like a bunch of Mises people funded a Ron Paul friendly documentary! Oh wait, it is...

First of all, that is 11 years old, so start by ignoring many of the trends and statistics that it includes, things change in 11 years. Second of all, Mises is uber-Austrian. They are the epitome of free-market thinking in Economics and use almost no math. They are a bunch of thought experiments. Valuable in their own right... But when you can't back it up, don't expect entire governments to come listening.

Ok. That's all I got after watching the first 2 minutes, back in a bit with more...

And we're back. 11 Minutes in now and it appears that we should all be walking around with gold coins and no one gets to take out a loan ever again (opps, there goes all those houses, furniture, appliances, and anything else you have with a loan, mortgage or credit card).

25 Mins in now, only a small headache. It seems that reserve requirements are evil too, again, no loans for you! Also, apparently an inflated money supply means that the poor get hit by inflation. The only problem there is that inflation hits the economy at the same time for everyone, as well as the fact that all their examples use a gold backed money to explain things... and yet we aren't gold backed anymore. I am sure this is going to lead to one of these guys saying that means we never know how inflated our money supply is, which is true. But we also don't know how inflated our money supply ISN'T. Which is exactly the point.
Also, the FOMC no longer uses all three of it's operations to control the money supply. Of course they wouldn't tell you that because they want to make it seem super-duper complex (don't worry, it's only super complex, luckily people at the Fed all that PhDs).

Hmm, apparently the end of Bretton Woods was a victory for the Fed. It also happened to save this country. I have yet to see them claim how a gold standard would prevent monetary fluctuation or solve floating exchange rates, especially with most other countries also using a fiat currency. I've got another 8 minutes though, let's keep watching... Maybe they will solve everything.

Ah, showing it's age again... "No US budget has been balanced since BW was abandoned..." Made your movie a few years early guys...

Umm, having the President appoint governors would completely undermine the process. You would be left with an economy crippled by political whims. Also, the meetings have to be closed door, or every little word would move the markets too much. These people are watched by too many eyes and need to have time to discuss and digest before people go reacting to what they say.

So again, we are back to a gold standard that will save us from all the ills of humanity. Never mind the fact that it would stop our economy in its tracks, and with it the rest of the world. We can just look at the happy land where if we had had a gold standard things would be roses.

Finally there is this. Inflation exists under the Fed. Inflation existed before the Fed. Inflation existed before the United States. Inflation existed before.... Maybe, just maybe, inflation isn't the Fed's fault.

Oh, and I still didn't hear exactly how this is all supposed to work. Like I said... no math, just thought experiments.

Answer 4

No one should sue the government over these frivolous things. It is the most virulent form of self abuse. WE, the people, are the government. Your and my taxes are wasted every time some weirdo files a petty lawsuit over things that are part of our history without regard of how many millions of dollars it is costing the taxpayers. Michael, The Bible does not say money is the root of all evil, it says the LOVE of money is the root of all evil.

Answer 5

Yes! They should also vote for Ron Paul!


His first order of business is to abolish the Federal Reserve.


Wake up America!

Answer 6

I am always amazed at how some people want to blame all our problems on some powerful institution or organization such as the international consipiracy of Jewish bankers, the Masons, large multinational companies, the Federal Reserve, the UN, etc. etc.

Answer 7

Yes. Especially those who do not believe you when You try to tell Them about how the financial world really operates.

Answer 8

Thanks for posting that video. It was hilarious.

I'm not sure which is funnier, the actors' collective ability to deliver such a stupid message with such straight faces or the fact that that there are so many retards who believe it!

Answer 9

YES!

Multiply that by the 186 countries around the world that have central banks under the control of the IMF & you'll realize exactly who the NWO is.
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