The American Dream (by The Provocateur Network): informative if biased documentary on money and American banking

Tad Lumpkin and Harold Uhl / The Provocateur Network “The American Dream” (2010?)

This is a well-made animated documentary that tries to explain how the American people have been misinformed and exploited by agencies of the US government to support the current financial system and the banking industry’s control of it. Everyday man Pile rejoices in having bought a beautiful McMansion house only for his bank manager to foreclose on it because Pile can barely afford the hefty monthly mortgage payments. Desperate to get his house and dog back, Pile is visited by an old childhood friend Hartman who takes him on a voyage through time and space to show Pile how money and banks originated in response to human needs for the exchange of goods and services, and how debt became part of early financial systems. They find out how Pile’s bank gets its money from the Federal Reserve Bank through the Federal government which then taxes the public through income taxes to pay back the Federal Reserve with interest. Hartman then shows how through the ages banks and financiers profited from lending money to governments to pay for expensive wars. They stop off in Revolutionary America to see how Thomas Jefferson and Alexander Hamilton argued over the merits of having a central bank (Jefferson was against, Hamilton was for). Viewers also discover when and how the US Federal Reserve Bank was established in 1913 after several previous attempts to establish a central bank failed. Owned and operated by private interests, the Federal Reserve took over the power to print money from the US government. Interestingly the film pauses for a moment in 1963 when then US President John F Kennedy signed Executive Order 11,110 to regain US government control of creating money instead of giving that power away; six months later, Kennedy was dead in Dallas and his successor Lyndon B Johnson put the order aside. Since then, successive US governments have ignored Executive Order 11,110 and have continued to borrow money from the Federal Reserve and to pay that money back with interest with US taxpayer monies.

In explaining the basics of the US financial system and how it rips off the American public at a level that most people, even school-children can understand, “… Dream” glosses over many details in an effort to keep things simple and on track to its ultimate message which is that Americans must reclaim their money and the power to print it back from the banks that operate the Federal Reserve. The “elite” that controls the Federal Reserve is portrayed as “the Red Shield” (the Rothschilds); according to Wikipedia, the Federal Reserve’s structure and leadership are complex and involve a Board of Governors chosen by the US government and many member banks throughout the country so the organisation ends up being a mix of private and public owners. A notable flaw in the film is one where the US Mint produces dollars (it actually produces coin). If viewers are interested in finding out more about the history of banking in the United States since 1776, and in particular about how the banking and finance industry came to have such a stranglehold on the nation’s economic direction, they should go to the film’s website www.americandreamfilm.com which has details about some of the real-life characters Pile and Hartman see in the film and which also suggests what people can do to protest against the conduct of banks and how to rein in their rapacity.

The style of cartooning is based on that of Matt Stone and Trey Parker’s “South Park” with less crudely drawn bug-eyed characters moving more freely than Stan, Kyle, Kenny and Cartman. The film’s pace is fast and very focussed which can be a bit inconvenient for some viewers with no prior knowledge of banking and finance trying to digest the information thrown at them. Fractional reserve banking is covered in a big rush without much explanation. The plot builds up to a suitably dramatic climax where Hartman leads an army of everyday folks like Pile against the banks and Hank Paulson tries to inveigle him into changing sides.

Yes it’s quite a biased film but “… Dream” at least attempts to explain to a general audience how the current financial system in the United States is structured and how debt and inflation are incorporated into it. Several myths and misconceptions about how banks operate and how money is created are met head-on and demolished. My main complaint is that the film falls into a good-versus-bad plot stereotype with no suggestion of what alternatives exist to replace the present debt-based fiat money system. The film does not differentiate between commercial banks (the banks that lend for business purposes and provide savings, cheque, credit and fixed-term deposit accounts) and investment banks; a little information about these types of banks and how they were kept separate by the Glass-Steagall Act from 1933 to 1999 would have been helpful so that viewers can see that having banks is still beneficial and that regulating banks’ activities for the benefit of the real economy (that is, an economy focussed on producing and supplying goods and related services) is necessary.

For US audiences, the film is worth watching as many times as is needed to understand the concepts spelled out and families with children will find it helpful in gaining a basic understanding of how debt operates and how banks try to rope in more people into borrowing on credit. The film will be of limited benefit to overseas audiences but its explanation of the role that debt and inflation play in financial systems is still relevant. Funnily, I found out about this film on the same day I read on CommonDreams.org that Citibank in New York tried to get several customers arrested by police for daring to close their bank acounts!

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