Wow, just watched "The Money Masters"

[giskard]

It's an incredible 2 part documentary. It is historical, and was shown on PBS 10 years ago. It outlines the history of banking, the Federal Reserve, how it caused the Great Depression, how the banking cartel can cause economic booms and busts, the CFR, and the solution (banking reform):

http://video.google.com/url?docid=-8753934454816686947&esrc=sr1&ev=v&q=money+masters&vidurl=http://video.google.com/videoplay%3Fdocid%3D-8753934454816686947%26q%3Dmoney%2Bmasters&usg=AL29H20YcIy-cB0mk7v3oZEmqctPO0kVFA
http://video.google.com/url?docid=-7336845760512239683&esrc=sr3&ev=v&q=money+masters&vidurl=http://video.google.com/videoplay%3Fdocid%3D-7336845760512239683%26q%3Dmoney%2Bmasters&usg=AL29H22Ybsua_00HM6BOKXQhZhjJSmkUXA

Or torrent it:
http://isohunt.com/download/13498984/money+masters

[Mattsa]

It's an incredible 2 part documentary. It is historical, and was shown on PBS 10 years ago. It outlines the history of banking, the Federal Reserve, how it caused the Great Depression, how the banking cartel can cause economic booms and busts, the CFR, and the solution (banking reform):

http://video.google.com/url?docid=-8753934454816686947&esrc=sr1&ev=v&q=money+masters&vidurl=http://video.google.com/videoplay%3Fdocid%3D-8753934454816686947%26q%3Dmoney%2Bmasters&usg=AL29H20YcIy-cB0mk7v3oZEmqctPO0kVFA
http://video.google.com/url?docid=-7336845760512239683&esrc=sr3&ev=v&q=money+masters&vidurl=http://video.google.com/videoplay%3Fdocid%3D-7336845760512239683%26q%3Dmoney%2Bmasters&usg=AL29H22Ybsua_00HM6BOKXQhZhjJSmkUXA

Or torrent it:
http://isohunt.com/download/13498984/money+masters


Yeah. It's an excellent documentry

This battle between the banking dynasties and debt free money has been raging for hundreds of years!

[Magicman]

I find the income tax and federal reserve one of the most challenging arguments to convince someone about Ron Paul. The movie is great and intriguing it hits it to your core, but getting people to patiently watch this is tough. I wish there's a way to oversimplify it to your average American to get the point across...

[G-khan]

I find the income tax and federal reserve one of the most challenging arguments to convince someone about Ron Paul. The movie is great and intriguing it hits it to your core, but getting people to patiently watch this is tough. I wish there's a way to oversimplify it to your average American to get the point across...

You may also like this one a bit shorter but good.....

http://video.google.com/videoplay?docid=-7065177340464808778

:)

[giskard]

Their proposed solutions answered some things I couldn't figure out about going back to the gold standard - such as, how do you handle an increase in population?

Their answer is for the Treasury department to issue debt-free money every year in proportion to population growth in an audited, process (not secretive like today), just like the Greenbacks in Lincolns time. The crucial difference vs. today's system is that no interest needs to be paid on it, and there is no multiplication via Fractional Reserve banking.

They made a compelling argument about NOT going back to the gold standard because the international banks have hoarded something like 75% of the world's gold.

Every major depression in the history of mankind, back to B.C., has been accompanied by an intentional contraction of the money supply, and vice versa. So if the bankers have the gold, they will still have the power to create depressions.


What stand does the Mises Institute have on this movie's proposals?

[giskard]

I found a link on the Mises website on Friedman's suggested solution:
http://www.mises.org/story/2414

[joenaab]

Another outstanding movie along these lines is called "Fiat Empire". The cool thing about this movie is that it features Ron Paul extensively, including outtakes from his interviews appended to the end of the film.

http://video.google.com/videosearch?q=fiat+empire

[SeekLiberty]

I find the income tax and federal reserve one of the most challenging arguments to convince someone about Ron Paul. The movie is great and intriguing it hits it to your core, but getting people to patiently watch this is tough. I wish there's a way to oversimplify it to your average American to get the point across...

There is. That's why well-known movie producer, Aaron Russo, created the new movie documentary: "America: Freedom to Fascism."

http://video.google.com/videoplay?docid=-1656880303867390173

It's easy to understand and has never failed me in snapping people out of their matrix.

[G-khan]

Watch this movie - best explanation of money and ways to fix and change things by getting rid of the Fed and printing our own interest free money.

http://video.google.de/videoplay?docid=-9050474362583451279

:cool:

[rockfree33]

If someone doesn't support Ron Paul on his liberty messages, which I havn't found one person yet, this is how you convince him otherwise:

Me: Well, you could vote for Ron Paul and he would abolish he IRS.

Voter: Abolish the IRS?! Don't we need the IRS to fund the government?

Me: Not really, see the cash you have isn't printed by the government, but by a private bank called the Federal Reserve. The Federal Reserve charges the government interest on all debts, and 100% of your federal income tax goes to paying the interest on debts only, even though the government can print it's own money interest free. So Ron Paul would essentially abolish the federal reserve and IRS, and make the government print it's own money interest free.

Voter: What? This doesn't make sense, who pays for the roads, the schools, and everything else?

Me: Well, theres a gas tax that pays for maintenance of roads, and property tax goes to schools, and everything else is supported by your legal state income tax. See, long story short, the federal income tax is unconstitutional because the constitution doesn't grant Congress the power to levy personal taxes, or else it would have all the power by way of tax. Instead, it leaves the power to the states to tax, which is legal.

Voter: So, I've been paying a federal income tax that can be avoided by abolishing the federal reserve and IRS, therefore making the government print it's money interest free?

Me: Yup

Voter: Where do I go to contribute to Ron Paul's campaign?

[LibertyEagle]

Here is the Mises Institute's version:

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

The Money Masters is a good video, but it ends up with the wrong conclusion. Our paper money must be backed by a precious metal; namely, gold.

[giskard]

I read somewhere, that there isn't enough gold in the country to replace all the dollars? And not enough in the world to replace all the dollars in the world?

[rockfree33]

I read somewhere, that there isn't enough gold in the country to replace all the dollars? And not enough in the world to replace all the dollars in the world?

I researched it and found out that theres somewhere around $80 billion in gold in Fort Knox, while theres around $3.5 trillion dollars in circulation. So if Ron Paul gets rid of the federal reserve and makes the government issue its own money, the new dollar would be worth 40 times as much as the current dollar. So basically you would be making 40 times less than you are now, but everything you buy would be 40 times less also. It all fits to scale. I think thats how it would work anyway.

[RonPaul4President]

Yeah. It's an excellent documentry

This battle between the banking dynasties and debt free money has been raging for hundreds of years!

According to the MM movies, it has been raging for thousands of years. It refers to Jesus chasing the moneylenders from the temple. We are fighting for the same principles as Jesus was 2007 years ago.

Disclaimer: I'm referring to Jesus as a historical figure and nothing more.

[ElGreco]

How would the country adapt to something like that? I'm sure that the average person would flip out if something like that happened no matter how they were reassured.

[giskard]

I researched it and found out that theres somewhere around $80 billion in gold in Fort Knox, while theres around $3.5 trillion dollars in circulation. So if Ron Paul gets rid of the federal reserve and makes the government issue its own money, the new dollar would be worth 40 times as much as the current dollar. So basically you would be making 40 times less than you are now, but everything you buy would be 40 times less also. It all fits to scale. I think thats how it would work anyway.

2 possible problems:

1) Gold would then be worth 40x as much
2) MM says Fort Knox is empty, and is in the hands of the bankers so that
a) the bankers can manipulate the money supply (i.e. gold) and cause depressions
b) and they will become 40x richer

During the Great Depression the USD was on the gold standard, so being on the gold standard can't prevent depressions.

[Mattsa]

Their proposed solutions answered some things I couldn't figure out about going back to the gold standard - such as, how do you handle an increase in population?

Their answer is for the Treasury department to issue debt-free money every year in proportion to population growth in an audited, process (not secretive like today), just like the Greenbacks in Lincolns time. The crucial difference vs. today's system is that no interest needs to be paid on it, and there is no multiplication via Fractional Reserve banking.

They made a compelling argument about NOT going back to the gold standard because the international banks have hoarded something like 75% of the world's gold.

Every major depression in the history of mankind, back to B.C., has been accompanied by an intentional contraction of the money supply, and vice versa. So if the bankers have the gold, they will still have the power to create depressions.


What stand does the Mises Institute have on this movie's proposals?

Check out the article on free market banking in Panama too. It's on the mises.org site somewhere. Panama uses the US doallar as its currency but money supply is rigorously controlled. If the money supply grows too fast, the excess dollars are immediately shipped offshore. Inflation has averaged less than 1% in over 30 years.

Although pegging currency to gold is desirable and an understandable objective in order to constrain the banking system, a fiat currency can be made to work if the banking system resists the temptation to expand the money supply above and beyond economic growth.