After that, the plan is to screen the movie in U.S. theaters in 2013, then release it on television and DVD.
Money for Nothing is narrated by Liev Schreiber. It is an independent, nonpartisan, feature-length documentary film.
The cast includes prominent Fed watcher James Grant of Grant's Interest Rate Observer. Also appearing in the film are former Fed Chairman Paul Volcker; investor Jeremy Grantham; former Vice Chairman of the Fed Alan Blinder; Peter Fisher, former Under Secretary of the Treasury for Domestic Finance; Philadelphia Fed President Charles Plosser; Richmond Fed President Jeffrey Lacker; Vice Chair of the Fed Board of Governors Janet Yellen; and many more.
Money For Nothing covers 100 years of Fed history and in many cases is quite critical of Fed policies. The film asks the question: Can the Fed learn from its past?
The movie pays homage to Volcker and lays out thoughtful and respectful criticism of former Chairmen Arthur Burns and Alan Greenspan and current Chairman Ben Bernanke, among others.
The movie's director, Jim Bruce, says the goal of the film is to create informed debate that exposes the impact of Fed policy on the U.S. economy and on society (from the Greenspan Put to the Bernanke Put). The film questions the rationale behind today's Fed actions and calls for better policies in the future.
Starting with the Panic of 1907 and ending with the risks on the horizon of today's quantitative-easing quagmire, Money for Nothing dramatically and entertainingly reveals the Fed's ongoing reluctance to shed old ideas. The movie is filled with wonderful narrative and fascinating images that capture the world of finance throughout the Twentieth Century.
Above is a three-minute trailer. There are some great quotes which have relevance to our own housing bubble.
"You know... the way a healthy economy grows is people earn money and they go out and spend it.Make a point of trying to see this film, it will be well worth watching.
They way an unhealthy economy grows is people borrow money, and then go out and spend it."
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