The Secret of OZ

[z31maniac]

Please watch this documentary, then quit talking to me about "fiat" money or the Gold standard.

[Farbin Kaiber]

Could you point us to it? I checked Netflix, but it's not there.

EDIT: NM.

[rwh11385]

So other people didn't study the allegory of bimetallism in the Wizard of Oz during high school? It's only a "secret" if no one cared to teach it. (Just like how fractional banking worked or that the Fed is private) It would be better if more people were learned about it and politicians/pundits could mislead people less. But someone sharing what is unknown to some doesn't make their argument inherently valid.

I take this as the post-recession redux of "The Money Masters"? This update was probably driven by, as mentioned in the first moment, "Foreclosures are everywhere, unemployment is skyrocketing - and this may only be the beginning." And funny as it sounds, 2009/2010 was a wild time for grabbing up the fearful's money. [Aftershock anyone?] Even if the complaints have changed since then, people were still unhappy at the time. Then the internet boom happened... (And everyone celebrated until the dot com bust, then the economy recovered on credit boom and negative savings rate until the mortgage-backed crisis).


But... I wouldn't go believing all the quotes used so quickly:

On August 20, 2011, on the radio show Erskine Overnight on GCN, William Still stated: "I have kind of disassociated myself with The Money Masters, because the guy who actually controls the business side of it won't let me fix it. And there are about a dozen fake quotes in there."

Source: [William Still states this at the 15:30 mark] http://archives2011.gcnlive.com/Arch...th/0820112.mp3

Some of the fake quotes are repeated in Secret of OZ though...

As much as gold standard talk is for the crazed, Bill Still's stuff is what Zeitgeist builds on. And even in the Secret of OZ mentions issues of debt-free monetary inflation, and turning over control of money to Congress IMO would be WAYYYYYYYYY worse than a collection of third-party economists who have clearly defined goals. Better structure the Fed, don't trust Congress. (and I think that much of the past sins of the Fed was them listening to the quest of politicians to put everyone into a house)

Heck, even the source of the solution used in this video was apparently recanted by its creator:
http://www.garynorth.com/public/department141.cfm

She's certainly changed her tune about the Fed a bit. But even when Milton Friedman supposedly (mentioned on Still's site) advocated for the reform from Money Masters, he wanted a systematic money supply grown according to population and other metrics, which could be done by the Fed.

The common theme seemed to have been that banks somehow control the entire economy and trigger recessions for profit. From the aftermath from the shit hitting the fan, I'm not really sure I would ever imagine that the destruction was purposely self-imposed. In the archived radio show, he also attacks Austrian approach and says that the rich would still control the money... and that government should control the money so that the banks no longer control the government. But I don't think killing the Fed will make lobbyist's from being the influence of Congress vs. the people and would only give the politicians who can't seem to come to a fiscal cliff solution more of an opening to make a money supply to cater to their interests, rather than having a group of experts watch over inflation.


Apparently he took Bob Dole's pen shaking style as his own in the video.
But some portions are word-for-word the same between 2009 and 1996.

Obviously the big banks are self-interested and Congress are full of worthless jerks, but people feeding youtube with fake quotes and catering to people unfamiliar with history aren't the solution either. The ultimate answer probably is somewhere between a more systematic Fed and Austrian economics. I have a bunch of Hayek's works to read. Hopefully people will take to the classics and being informed, rather than impressionable and angry like the caller towards the end of the radio show. [Ron Paul rEVOLution guy] Oh well - finding viewpoints, questioning them, and then researching further can only help better understand an issue, so watching it is quite helpful in that regard.

[bmw325csi]

Here I thought it was about the awesome show "OZ".