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"Thomas Jefferson and Andrew Jackson understood "The Monster". But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.
Dedicated to Murray N. Rothbard, steeped in American history and Austrian economics, and featuring Ron Paul, Joseph Salerno, Hans Hoppe, and Lew Rockwell, this extraordinary new film is the clearest, most compelling explanation ever offered of the Fed, and why curbing it must be our first priority.
Alan Greenspan is not, we're told, happy about this 42-minute blockbuster. Watch it, and you'll understand why. This is economics and history as they are meant to be: fascinating, informative, and motivating. This movie could change America."
-- Mises Institute
Dedicated to Murray N. Rothbard, steeped in American history and Austrian economics, and featuring Ron Paul, Joseph Salerno, Hans Hoppe, and Lew Rockwell, this extraordinary new film is the clearest, most compelling explanation ever offered of the Fed, and why curbing it must be our first priority.
Alan Greenspan is not, we're told, happy about this 42-minute blockbuster. Watch it, and you'll understand why. This is economics and history as they are meant to be: fascinating, informative, and motivating. This movie could change America."
-- Mises Institute
more on this: http://www.youtube.com/watch?v=ji_G0MqAqq8
I don't know if the gold standard touted in this movie is the answer, but theres a definate problem here that needs to be fixed.
-sb
Congress must never have a hand in managing the money supply. The whole point of the Fed is its impartiality. If you had guys afraid to put the brakes on the economy just because it's an election year, that's quite the conflict of interest.
The Fed's job is to protect the value of money, above all. This may mean encouraging lending, this may mean engineering recession, but in the end it's just to keep money worth money.
Forget about your bank collapsing, the Fed is there to keep the money itself from collapsing. It's terribly scary to have that power anywhere, so a suggestion to automate the process against inflation, take some or all human error out, that I can understand. But managing the money supply can't be a democratic process, whereby we all get representation in what we want: we'll all say we like money, we want more, ignorant of the intricacies of how money is valued, and to what extent this disbursment is damaging the value of the money. Sometimes recession is the only way to maintain the value of money, to manage inflation; and we would never choose recession, we could never endure such a thing by choice, because it's more tangible than suffering inflation.
The ramifications of a failing currency, like clockwork, are unspeakable violence in the streets, sometimes marked by counter-revolutions into war-mongering barbarism. It's a pretty basic human instinct: if what we have is worth nothing, let's go take what they have.
It's for the latter reason that people are reluctant to start pulling blocks out of the Jenga tower that is the Fed. It's been a long time since worldwide economic hardship precipitated an Italian invasion of Ethiopia, a Japanese invasion of China, and a Weimar Germany in which beer cost 4 million marks per glass (France needed those reparations, because it too was hungry).
This video is crazy. "Do you want your money gaining value every year, or losing value every year?" Well, shucks! Didn't realize it was THAT simple! I WANT MORE MONEY, DOG!
http://en.wikipedia.org/wiki/Mayer_Amschel_Rothschild_family
The fact that the Congress has deteriorated into it's current state of a bunch of asshats does not invalid the law. Those of you who want to blame the current administration for everything should look beyond the tips of your noses and see who has really been calling the shots for a long time. That's why Bushy Sr. and Big Daddy Bill Clinton are such "Buds"; they belong to the same country club and we just keep serving them drinks.