From Freedom To Fascism Summary
--------------------------------
American Government
------------------------
10/1/11
“From Freedom to Fascism” by Aaron Russo
I decided, rather than to write a play-by-play, I would write more of an overview of the entire video. I believe that the main points of the video are more clearly shown in this form of review. The video examines the Federal Reserve System, including how it was established and what it does. The video states that the Federal Reserve System (FRS) is privately owned by for-profit corporations. Even though it is not a government agency, it was commissioned to print money for the federal government, at a fee paid for by the personal income tax. The video also says that the American dollar is no-longer backed by any amount of gold. This means that the money we use today, is essentially worth no more than the paper its’ printed on. It also says that the American dollar represents debt more than wealth, currently this point could be argued, but it is obvious that it will eventually come to this. …show more content…
This is accomplished by printing new money into circulation to make it easier to get credit, in-turn devaluing the money just printed. The video shows that the American dollar is worth a mere 4% of what it used to be worth in 1913, when the FRS started. It states that the FRS is the main cause of this inflation, which leads to devaluing our money. The video pretty much states that the FRS can control the value of money, and use this power in whichever way they like, because congress has no control over it. This means that congress has no control over money, which is required by Article of the United States
American Government
------------------------
10/1/11
“From Freedom to Fascism” by Aaron Russo
I decided, rather than to write a play-by-play, I would write more of an overview of the entire video. I believe that the main points of the video are more clearly shown in this form of review. The video examines the Federal Reserve System, including how it was established and what it does. The video states that the Federal Reserve System (FRS) is privately owned by for-profit corporations. Even though it is not a government agency, it was commissioned to print money for the federal government, at a fee paid for by the personal income tax. The video also says that the American dollar is no-longer backed by any amount of gold. This means that the money we use today, is essentially worth no more than the paper its’ printed on. It also says that the American dollar represents debt more than wealth, currently this point could be argued, but it is obvious that it will eventually come to this. …show more content…
This is accomplished by printing new money into circulation to make it easier to get credit, in-turn devaluing the money just printed. The video shows that the American dollar is worth a mere 4% of what it used to be worth in 1913, when the FRS started. It states that the FRS is the main cause of this inflation, which leads to devaluing our money. The video pretty much states that the FRS can control the value of money, and use this power in whichever way they like, because congress has no control over it. This means that congress has no control over money, which is required by Article of the United States