Very Interesting Documentary
There’s a very interesting documentary on Google Video – The Money Masters.
It traces the history of money in America and how the Fed is screwing the American people. Incredibly interesting. Its 2 hours long but worth it.
It explains how the standard of living has decreased in the past 25 years and how rampant inflation is caused by the fact that the US Government doesn’t own the money, but rather borrows it from the Feds, who charge interest for this.
The Fed is not a government entity but a group of private banks whose sole motivation is to make the highest return on their money.
Also the banks are able to lend money using “Fractional Reserve Banking”. Basically the same dollar is lent out 10 times at 8% giving them a total return of 80%. Essentially, they use our money to push us deeper into debt. And since good old Bush passed a law making it almost impossible to file bankrupcy, we’re destined to a life of slavery!
Yet another reason to invest in foreign currencies and gold!
To hear a great conspiracy theory by well-known director Aaron Russo listen to his interview about his new movie, Freedom to Facism.
I tried to open an account with an online bank called Everbank. Apparently they want color photos of my passport, a notarized letter from my bank and a filled out W-8 form. This is too much work!!! All I wanted to do was open a CD which invests in foriegn currencies like the Canadian, Australian and New Zealand Dollar.
Instead I decided to open an account with Interactive Brokers. They even have better interest rates and the money is much more liquid.
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September 7th, 2006 at 2:08 pm
Thank you for pointing out that documentary! I can’t believe how little the average person seems to know about how the American monetary system works.
September 8th, 2006 at 7:57 am
Hell, I would rather have banks running the monetary system. Look how Congress screws up the fiscal system.
September 11th, 2006 at 4:25 pm
That video sounds like some conspiracy theory stuff…. a planning on opening an account with IB. Good to hear it is simple as I was under the impression that their process was complex.