Money for Nothing (2013)

Money for Nothing: Inside the Federal Reserve is a documentary film which premiered in 2013. The topic is the economic crisis and collapse of 2008. Here is some basic information about this film:

** Writer and director: Jim Bruce

** Narrator: Liev Schreiber

** Run time: 104 minutes

Many persons are interviewed in this film. I will not mention all names, because the complete list is too long. Here are some of the names (in alphabetical order):

** Peter Atwater – former head of Asset Finance, J. P. Morgan

** Alan Blinder – vice chair of the Fed 1994-1996

** Michael Bordo – professor of economics, Rutgers University

** Dave Colander – professor of economics, Middlebury College

** Paul Volcker – chair of the Fed 1979-1987

** Janet Yellen – vice chair of the Fed 2010-2014 and chair of the Fed 2014-2018

Archive footage is used between the talking heads. Archive footage is used to illustrate historical events and to show us old clips and old interviews with public figures.

What do reviewers say about this film? Here are the results of three review aggregators:

** 57 per cent = Meta

** 62 per cent = Rotten Tomatoes (the critics)

** 82 per cent = Rotten Tomatoes (the audience)

** 74 per cent = IMDb

On the US version of Amazon there are at the moment 50 reviews of this product. The average rating is 4.1 stars.

As you can see, the ratings are good, but not great. They hover somewhere between three and four stars on Amazon. When you look at Rotten Tomatoes, you can see that there is a significant difference between the professional critics and the general audience. The critics offer only three stars, while the audience offers four stars.

If you ask me, all these average ratings are too high. Why do I say this? Because this film has some flaws. Serious flaws. Let me explain:

What we have here is a bunch of people talking about the Fed. What the Fed did in the past and what it has done recently. Many of the talking heads used to work for the Fed. It is not surprising that they are positive when they talk about their old place of work. There are a few critical voices as well, but they are few and not very critical.

On IMDb there are some very critical comments. One reviewer says this film is pure propaganda for the Fed. Former employees of the Fed admit they made some mistakes; but they are sorry for that; and promise they will do better in the future. Is this OK? Can they still be in charge of the economic system? No, says the reviewer. This is not OK!

A second reviewer says it seems the Fed made a film about the Fed. The name of the institution is highly misleading. It is not federal and it has no reserves. It simply prints money. As much as it wants.

A third reviewer has a question for the director: How can you make a film about the Fed and not mention Ron Paul’s book End the Fed that was published in 2009?

Whether you agree with what is in this book or not, it is wrong to pass it over in silence. The book should be mentioned, even if you want to condemn it, but it should not be ignored.

According to Ron Paul, a former member of Congress, the Fed is not an indispensable institution. It should be abolished, because it is corrupt and unconstitutional.

The Fed was established in 1913. The origin of the Fed can be traced back to a secret meeting that took place in 1910 on Jekyll Island off the coast of Georgia. During this meeting the participants prepared legal documents that would lead to the establishment of the Fed three years later. The film was released in 2013 in order to mark the 100-year anniversary of the Fed.

I understand the critical comments posted on IMDb. And I agree with them. This film is far too positive and far too sympathetic towards the Fed. It is not convincing. It is not credible.

This is why I have to go against the general trend. This film is fatally flawed. And therefore it cannot get more than two stars.

PS # 1. For more information, see the following books:

** The Creature from Jekyll Island by G. Edward Griffin (first published 1994, fifth edition published 2010)

** Collusion: How the Central Bankers Rigged the World by Nomi Prins (2018)

PS # 2. For more information, see the following items:

** Inside Job (2010)

** The Flaw (2011)

** Heist: Who Stole the American Dream? (2011)

** Too Big to Fail (2011)

** Hank: Five years from the Brink (2013)

** Abacus: Small Enough to Jail (2016)

** Inside Lehman Brothers (2018)

PS # 3. Meltdown: The Secret History of the Global Financial Collapse is a four-part documentary film produced by Canadian television (CBC), which premiered in 2010. Each episode runs for ca 45 minutes. All four episodes are available online.

PS # 4. The title of this film Money for Nothing is borrowed from a famous song by the British rock band Dire Straits, which was released in 1985.

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