Comments (33)

• TGGP

  I've seen the trailer before. While it's good that he's bringing attention to the Federal Reserve, he's a lousy narrator and comes off like one of the "tax cranks" that annoy Kinsella so much.

  I've said it before, but I'll say it again: fascism was a real political movement that had its moment in history and given that pretty much no one refers to themselves as a fascist anymore or knowingly owes them an intellectual debt, throwing around the phrase makes you look either A: dishonest/hyperbolic, which is what Orwell pointed out in "Politics and the English Language" or B: crazy. Call it bad, evil, demonic, inhuman or what ever you feel like, and I'll take you more seriously than if you reference fascism.

  Published: August 26, 2006 12:52 AM

• Turner

  I guess you missed the Economics of Fascism conference held by the Mises Institute in Oct. 2005.

  Russo really doesn't come of as a tax crank, he is much more interested in the big picture. Take a look at the q and a session.

  And, if you don't think anyone owes an intellectual debt to fascism today you might want to look around.

  Published: August 26, 2006 1:07 AM

• jeffrey

  I saw only about 10 mins of it. I found myself annoyed at all the money crank stuff.

  Published: August 26, 2006 7:20 AM

• Mateo

  I like the fact that Russo understands that the federal reserve is the problem and is calling for the return of the gold standard.

  Published: August 26, 2006 4:49 PM

• Karen De Coster

  I thought libertarians - at least most - already knew that Russo was a money crank? He doesn't know what he is talking about. Google him on this subject. He is of -0- interest to Austrians. See his TLE interview, where he says, "I would prefer, if it were possible, not to have any taxes at all. I don't know how you'd have an army and not pay for it—nobody's ever done that, you've gotta have something, no one's ever shown me how to do that. So as far as I'm concerned, what's called for is tariffs and excise taxes, even though I am against taxes and for free trade. I would say that an excise tax, if I understand it, is a sales tax, and so a small sales tax on non-essential goods is what I would choose to support a small government."

  Decisive and intelligant man! And tariffs, too.

  Published: August 26, 2006 5:39 PM

• Karen De Coster

  I thought libertarians - at least most - already knew that Russo was a money crank? He doesn't know what he is talking about. Google him on this subject. He is of -0- interest to Austrians. See his TLE interview, where he says, "I would prefer, if it were possible, not to have any taxes at all. I don't know how you'd have an army and not pay for it—nobody's ever done that, you've gotta have something, no one's ever shown me how to do that. So as far as I'm concerned, what's called for is tariffs and excise taxes, even though I am against taxes and for free trade. I would say that an excise tax, if I understand it, is a sales tax, and so a small sales tax on non-essential goods is what I would choose to support a small government."

  Decisive and intelligent man! And tariffs, too.

  Published: August 26, 2006 5:40 PM

• M E Hoffer

  Could someone help out this young Grasshopper?

  What, pray tell, is a "money crank" ?

  Published: August 26, 2006 5:46 PM

• quincunx

  Hoffer,

  A Real Bills supporter, or
  A 'public', not 'private' central bank (the FED is 'private'), or
  A fractional-reserve-is-not-fraud banking supporter, or
  A ZERO interest rate fetishist.

  I'm sure there are other money crank doctrines. Most of them are repetitions of ones that came in late 19th/early 20th century, and have since been refuted (mostly by Austrian Economists).

  Wasn't there some guy who wanted the government to stamp money or else it expires?

  Published: August 26, 2006 6:21 PM

• jeffrey

  quincunx! Excellent summary. Maybe the final was different but in the version I saw, there was a parade of people complaining about the power of the private corporation called the Fed, etc., with no realization that if the Fed really were a private corporation, it would be no problem at all! It was painful.

  Published: August 26, 2006 9:46 PM

• Thompson

  I haven't seen the film, but the google video of Russo's question 'n' answer period makes it seem like he is very anti federal reserve, very pro gold standard, and very concerned with the direction this country is taking. I didn't see any evidence of him being a "money crank."

  Published: August 26, 2006 10:02 PM

• P.M.Lawrence

  There is a way to fund governments - or more generally, public services - without taxes. It's just not suitable for large revenues.

  If you find your way to the online 1911 Encyclopaedia Britannica - sorry, I don't have a link, but wikipedia has an article on it - look up taxes. There is quite a coverage of the "domain" system which is economically equivalent, but without the built in extortion.

  This involves a pool of revenue yielding assets. For instance, corporation taxes could be commuted to a holding of shares.

  There are quite a few problems apart from a built in limit to how much the take can grow (actually a good thing, in my opinion). You can have overt or covert extortion anyway, as in commuting corporation tax or in obtaining state lands to rent out as in the British Raj. And there is sovereign risk - what happens if a government sells off its holding and a later government complains it is unfair that it is not getting a cut (this happened to the Suez Canal Company under Nasser).

  All the same, it works quite well as a means of funding public services that are not centralised, except that there is a problem rebalancing portfolios over time (governments can do that by printing money, without harm if they adopt a sinking fund approach - but they always screw that up). We see that sort of public service provision in the perpetual cemetery companies, like the one that managed Karl Marx's grave in Highgate. People paid up front, and the money was supposed to provide a permanent revenue for maintenance.
  

  Published: August 27, 2006 5:22 AM

• DavidB

  I have a few concerns with Russo. What is his real agenda? Or does he just not understand marketing? He is going around trying to raise cash to get his movie shown in a theatre. That has to be one of the most expensive ways of distribution I know. Why would he choose that way? Is he just an old time hollywood producer who doesn't understand today's marketing?

  There is a huge network of anti-government, anti-tax, anti-Federal reserve web 'distributors' that would gladly take his movie in the DVD format and push it to their people. If he were to distribute the video via DVD at a few dollars above cost he could very cheaply 'educate' those who are interested in this sort of thing. I know I would buy it.

  If this really was about informing people he could also make the movie available for free via google video or your tube or amongst the many file sharing networks. I notice in the video referenced above he talks about getting everybody 'registered' at his website and getting them on an email list. How is this going to fly among the paranoid fringe? When I heard that I thought, "Are they collecting names here?" It just rings suspicious to me and it brings me back to my original question. What is the real agenda?

  That does lead me to another question for the Mises.org folks. Your video "Money Banking and the Federal Reserve" is, in my opinion, the number one education tool in THE WORLD that people need for getting informed on the banking system. Yet it is only available for purchase or viewing at this site. People can't download it or have it for downloading at their own websites. Why Not I ask?

  If you are going to set free one video from your system THIS IS THE ONE! You should be encouraging people to download this video, copy it and give it to everyone they know. They should be emailing it to their friends, hosting it on their sites, copying it to DVD and handing it out on the streets(and please make a downloadable DVD version available if you do take my advice. Most people have a DVD player and to give them a format that is ready to pop in any DVD player just makes it easiy for them and I find when it comes to educating people the easier it is works best).

  If this were to happen people would be educated a lot quicker than what is happening now and they would be getting the right information clearly stated as opposed to some of the information that is out there that is dubiuos. Not only that but it would be an advertising vehicle for Mises.org

  This is just my opinion but those that champion the anti-copyright belief around here should start with some of their own information.

  I hope I didn't offend, that wasn't the intent. I am just interested in getting to truth to the people as soon and as clearly as possible

  Published: August 27, 2006 10:29 AM

• M E Hoffer

  I suspect DavidB has a really good idea.

  "Your video "Money Banking and the Federal Reserve" is, in my opinion, the number one education tool in THE WORLD that people need for getting informed about the banking system."

  Ignorance of the nature of the Banking System is, to me, probably, the greatest handicap people have in trying to understand the nature of the set-up that has been set up around them.

  Have y'all thought about selling that "video documentary" on itunes or related platforms?

  Anything that'll get rid of the box and allow you to ship the bits would be a major plus.

  Published: August 27, 2006 12:30 PM

• A.J. Gardner

  I love this idea! Where can we post it for greater visibility to the mises.org admins??

  The only limiting factor, I think, would be bandwidth from hosting the file on the site's servers. Seeding the file bittorrent-style would basically erase that problem, though. There might be lag issues at first while people leech the file, but after a while, enough people would have the file to distribute the load completely away from mises.org's servers.

  Yes/no?

  Published: August 27, 2006 12:50 PM

• DavidB

  Thanks for the support.

  Yes, I believe the time is now for taking this to the next level. The market is there, the internet distribution channel is mature enough to handle it and the level of economic ignorance is as high as it has been in decades. The very fact the 75% of all Americans are now in debt is proof of that. Debt is the problem, not the solution and people need to learn why.

  Now is a great time to drop some truth into the hearts of the people before the big money boys give the people solutions that aren't solutions but only non-nutritious economic junk food

  It could also make for a great free market internet experiment (;

  Published: August 27, 2006 1:08 PM

• jeffrey

  That "Money.." video is on google and people are free to put it on their websites. All the beter for us--our bandwidth overages cause me to lose sleep at night!

  Published: August 27, 2006 1:12 PM

• TGGP

  Tucker, I've never been to the actual, physical institute but I did check out some of the recordings of the event held on this site. I enjoyed them and have recommended them to others on the internet. I think it was good to point out the influence fascism had on FDR and the new deal, although I don't consider FDR to be a fascist (just as Mussolini was influenced by communism and anarcho-syndicalism although he rejected communism and can't be considered anarcho-anything). In the present day, we don't even have that. No more western politicians are reading "The Doctrine of Fascism" or "Reflections on Violence" than defences of the divine right of kings. The use of the term "fascism" in contemporary political discourse delivers no real factual content. It is now simply a pejorative. When I say "knowingly owes them an intellectual debt" I mean that you could hook them up to a lie detector or give them sodium pentathol or whatever kind of test you want and they would honestly state they owe nothing to fascism. I look around and see lots of political beliefs I strongly dislike, and I also strongly dislike fascism, but I don't feel the need to lump them together.

  Published: August 27, 2006 4:58 PM

• Peter

  jeffrey: you could probably seriously reduce your bandwidth requirements by offering BitTorrent transfers. And if you offered Speex-encoded audio files, alongside mp3, they'd only be 1/5th the size, for further reductions...

  Published: August 28, 2006 8:48 PM

• anotherJoe

  Lewis v. United States, 680 F.2d
  1239 , United States Court of Appeals, Ninth Circuit, Decided April 19, 1982,
  which states, "Federal reserve banks are not federal instrumentalities...but
  are independent, privately owned and locally controlled corporations..."

  Numerous court cases since have upheld Lewis.

  Now see if you can find out who their stockholders are.

  Published: August 30, 2006 10:21 PM

• John Sotelo

  I'm supprised by the lacksidasical nature of some of these comments. Do you people have any idea how much power the private Fed has in causing inflation and deflation to destroy the wealth of Americans?

  A "tax crank," the current tax structure makes us slaves of the federal gavernment. We are talking about the end of America as we knew it. Have any of you read about the 1930s bankruptcy of the federal government caused by the great depression, caused by destructive fed policies. The Fed serves its own benefit exclusively and will own all of us when the Federal Gov defaults.

  Wake up!

  Published: August 31, 2006 9:35 AM

• RogerM

  In response to DavidB’s suggestion that Aaron distribute his movie in DVD format for a few dollars over cost. This idea would be of no use in awakening the average American and only serve to continue the status quo. Having this movie seen and passed around among the 50,000 or 5 million (or whatever number) of people who already know about these ideas does nothing, and you handing the DVD to someone who is in the dark does even less. It’s a crackpot idea or it would be on TV on the theater is what the average person thinks. No, I want people to see it in a theatre, then it becomes real. It’s not me handing someone a DVD at my kid’s soccer game it’s them saying, “Have you seen that movie about income tax and the Federal Reserve. That’s scary. I always knew there was something wrong�. There is a big difference. If it is seen in the theatre it is real, otherwise it’s just a bunch of crazy people with nutty ideas. Let’s not be to smart by half. This needs to be seen on the theatres.

  Published: September 2, 2006 10:10 AM

• LarryM

  Whatever criticism or reservations we may have about the movie, let's keep our priorities straight.

  WE MAY ALL BE CHIPPED BY MAY 2008.

  It will take a huge public outcry to get this issue into the general discourse. Time is short.
  If this movie helps, well and good. Later for the economics debate.
  

  Published: September 3, 2006 11:07 AM

• Siniy

  Russo has said on Alex Jones radio interview that after theatre release there will, of course, be DVD and online distribution. He's just doing it exclusively in the theatres FIRST because theatre owners will *not* carry any movie that has already been released on DVD or online! It's not an either or proposition but BOTH, in due time, that they are doing here.

  Published: September 5, 2006 3:30 PM

• AmericanX

  http://btjunkie.org/torrent?do=stat&id=432495639c1947b80d12cdfa86251ef547b23ba596d2

  Here is the torrent for downloading what looks to be one of the first cuts for the movie. I think many of the scenes/overlays were improved dramatically before release.

  Enjoy! And spread the word!

  (btw, if another person can host this on a torrent as well it would help greatly)

  Published: September 5, 2006 4:54 PM

• Michael

  You know I frequent a lot of sites where folks are keenly aware of problems not well understood in the mainstream. Unfortunately, most of the discourse on these sites are folks splitting hairs and proving they know more of the subtleties than the next goy (who they often agree with on 95% of things). So these stylistic/intellectual elitism comments towards Russo who is clearly trying to reach large numbers of laypeople on these critical matters should be welcomed not nitpicked.
  The linguistic comments on the use of fascism are interesting and astute. Although I see it has residual shock value that adds urgency and perhaps helps promote the film. The trouble is succumbing to the mainstream vernacular means holding discussions about the US in terms of "democracy" and "representative government". It is laughably far from the former, and while it is a representative government it unfortunately represents very few people/entities. Either way, these terms are as comforting and misleading as fascism is prone to dismissal.

  In any event, I have been awaiting Russo's film anxiously. Not necessarily to learn more, but as a tool for spreading information in an attention starved populace that is rarely treated to an honest (if flawed) perspective on where they fit in to the big picture.

  Published: September 18, 2006 4:07 PM

• Alan Gifford

  I would have to agree with the comments here to the effect that we should be embracing a mainstream wakeup call to people in the U.S. regarding the nature of our money and the Fed, and how this relates to the government's incessant encroachment upon our liberties!

  I must say, after having seen the trailers, and the 37 minute interview with Russo, then checking opinions on my favorite site (mises.org), I was rather surprised at the comments dismissing this movie.

  It seems to me that the detractors posting here are quibbling about relatively insignificant details. As Russo states in the aforementioned interview (though he referred to other issues like environmentalism, etc.), we need to stop worring about the small issues and get our priorities straight. And I would find it surprising if anyone at Mises would argue that deposing the Fed shouldn't be the first major goal of any serious reform in our nation. I can't believe that anyone on the Mises site is upset about an actual, going-to-theater movie attacking the Federal Reserve as the main source of our woes, the minutia be damned.

  Are most Mises supporters so removed from interaction with "regular people" as to think that even one tenth of the population would sit through the "Money Banking and the Federal Reserve" video or come away from it with a seriously shaken view of their nation? I'm sorry, because I like the video; I am the kind of person that can watch that with interest, because I know what they're talking about, and mostly because I can see its immediate importance and significance in my life. The vast majority of Americans will not see this connection, and quite frankly, it reminds me of every other boring educational video I watched in grade school. It has the same *blah* sort of feel to it. I don't have a hard time paying attention and learning from it, but most people do. Believe me, I LIVE and WORK and RECREATE with "most people."

  And if the goal is to raise awareness--and especially if the goal is to alarm people, which I believe is the response needed in our current situation--then the Mises video "Money Banking and the Federal Reserve" fails. Some more enlightened or intelligent and attentive of us will say to themselves, "Wow, I really wasn't aware of that, and it's quite worrisome." The other 90% will say *YAAAAWN* within the first 2 minutes and stop paying attention.

  From what I have seen from the trailers, and from the interview, this will be a very shocking film. This film will be a kick in the gut--I certainly feel sick to my stomach after having viewed the 14 minute trailer. And if there are some minor faults, then so be it. I will not attack this effort, which in my current estimation is more than 90% correct, simply because he didn't give any credit to Austrian economics. And I think that's what this boils down to: maybe the Austrians here are just jealous that someone else is getting credit for bringing these issues to mainstream America.

  F*CK PRIDE, a rose by any other name would smell as sweet, and there'll be time for kudos later. Let's just get done what needs to be done!

  Published: September 26, 2006 11:12 AM

• karkinos

  A few points:

  1. So Aaron Russo isn't an austrian. So what? Sometimes Austrians make me feel like I'm in a 1920s southern baptist convention. You know, the stereotypes that led to all the jokes about baptists believing that they were the only ones going to heaven. To use colloquial logic, don't throw the baby out with the bathwater.

  Whether Russo is a money crank is immaterial to the point of the movie. As one fine poster put it, we may ALL be chipped by 2008. Just as scary, so may be all our money. Ever think you'd have the irs on your back for giving your kids an allowance? or for paying the kid down the street to shovel your snow?

  2. the fed isn't a private corporation. It's a private monopoly. A private corporation has no control over you. A private monopoly does.

  3. Marketing: I disagree that buzz marketing is a better format for Russo. Buzz marketing still has its benefits, but for the most part, it has died down. It would just come across as "yet another kooky low-budget film." Larger venues create credibility in the consumer minds, and that's a fact.

  Look, I'm not a marketing expert, but I've spent most of my adult life in marketing. Hopefully the film in theaters will create "real buzz" and force others to get the DVD, who would never go to a theater.

  I'm forming a group of people to watch the film this weekend in Arizona (phoenix and tucson). I'm also planning on handing out some information, and i'd like to see if i can get some approval for mises.org's stuff. If not, I can write my own money-hack (or whatever you call it) garbage. ;)

  Published: October 2, 2006 7:09 PM

• Caley McKibbin

  The problem is that Russo makes statements that are clearly wrong or dubiously speculative. He's not educating people so much as propounding conspiracy notions.

  Published: October 15, 2006 5:32 PM

• Mench

  Its funny how people will bash things that are hard to believe in the mainstream and then get away with calling it a "conspiracy theory" (even though there can be much evidence to prove there case). At what point do they become the "conspiracy theorist" by yelling "conspiracy theory" at anybody with information not widely accepted by the mainstream.

  
  I have been telling people about the implantable micro-chips for 11 years now and people thought I was crazy, and now that it has been accepted by the FDA and large companies like Applied Digital Solutions (who owns VERICHIP) are producing these things and working directly with our Military and the FDA and GPS technologies (with Digital Angel Corp. their other Subsidiary) people are now starting to see what I was seeing years ago. Just go to the FDA website and do a search for VERICHIP and you will find 3 pages of articles on implantable microchips showing the approval by the FDA.

  Applied Digital Solutions website:
  http://www.adsx.com

  Here is what they are planning with people:
  http://www.adsx.com/people.html
  Here is Applied Digital Subsidiaries (or brands)
  http://www.adsx.com/brands.html
  these include: VERICHIP, and Digital Angel Corp. check out the Digital Angel site pretty scary...

  Now you have a Bill HR 418 passed in 2005 with the Real ID Act which will link databases on a federal level where if you decide not to take the card (pawned off as being voluntary) you will not be able to recieve a drivers license, you will not be able to attend a state funded college, you will not be able to board or use a Commercial airliner or any form of public transportation, you will not be able to withdraw funds from a bank. So in turn it is actually mandatory so don't be fooled when the media comes out and says it isn't because if you don't take it then you will pretty much be a non-person (or citizen).

  But these things are all symptoms of a much bigger problem and that is the formation of a New World Order or One World Goverment formed by the Cartel of Central Bankers around the world which issue currency to control money flow and inflation. People thought you were crazy saying New World Order years ago and now it become at least a bit more mainstream because it comes out of the mouth of these Neo-Cons. Just look at the PNAC documents, SPP.gov, or Council on Foreign Relations, United Nations, GATT Treaty, NAFTA, CAFTA, and you will see there goals in creating world goverment. Once you see this then you will understand our fighting in Iraq and Afganistan, or pushing around of Iran and North Korea. Its not about US interests it is about NWO interests.

  Published: November 1, 2006 12:57 PM

• eric

  this movie will clear up all your questions

  go to google
  click video
  search The Money Masters

  enjoy and you will get a great deal of knowledge

  Published: December 1, 2006 12:13 AM

• Marc

  It's about time someone of this expertise stepped up to the plate. Bravo!!! Mr. Aaron Russo. You are true American Hero. Now we'll see if American people have the guts to stand up and be heard far and wide.

  The spin is already everywhere and will heat up as time goes along but the facts are the facts. Continued denial by the American people about what is presented in this movie is just that: DENIAL. It is dishonest and inexcusable, and nothing but a comfort to the enemies of liberty and the rule of law. Get over it.

  The fact that upon acknowledging the truth of this film will find yourself honor-bound to stand up and do something, is scary. But the alternative is contemptible; and the long-run consequence of a widespread failure to act is a whole lot scarier. Think about it.

  Spread the word.

  Published: February 7, 2007 9:31 PM

• Fabio Bossi

  Hi from Germany,

  I saw the movie on saturday at video.google.com

  Please, American people, stand up! Show the world you`re SERIOUS about freedom, instead of bullying people around but breaking your own constitution at home!

  I find it really saddening to read about that austrian-nitty-gritties.

  It`s like a Monty Python quarrel.

  Hey folks, it`s about your Constitution!!!

  TU NE CEDE MALIS!!!

  Published: March 12, 2007 8:45 AM

• Matt Day

  I think the true power of this film is that it provides a means for those of us who want to educate others to get people interested in what we have to say. Even if it is not 100% factual it is very difficult to claim that it is all bogus. What I like about this film is that if you watch it I imagine that it will be very difficult to walk away from it and not feel extremely angry and uneasy. We should applaud the efforts of this man to get people thinking about these issues. Use this film to open the lines of communications with people by using this tool to generate the first bit of interest. Who really expects that there will be one movie/one book out there that will have the authoritative truth on how everything really works? It's ok that some of it may be wrong. Use that to debate with people. Share what it is you know. Sometimes I think that for those of us who enjoy this website or reading other similar books with similar content forget that there was a point that we were just as ignorant as other people who may never have heard of these concepts. The worst thing that we can do is disregard someones attempts to bring some sanity to the landscape because it may not completely agree with our world view. I say who cares. The joy of being a human comes from our ability to discuss and share knowledge with other human beings. Don't be angry that someone else comes to the table with a different point of view. Teach them. Perhaps maybe you will learn something too.

  Published: March 28, 2007 8:35 AM