My viewpoints on this are echoed by the makers of "Money for Nothing: Inside the Federal Reserve", a documentary project that's currently looking for funding on Kickstarter (the doc has been filmed and cut, they're simply soliciting funds for the final finishing and production of the ultimate film). If you want to learn more about the Fed (and you should), this seems like the absolutely ideal starting place.
I think the whole project sounds awesome, and the list of people they interviewed for this is impressive—a who's who of Fed officials, financial commentators, academics, and other well-respected industry pros. They also got Liev Schreiber on board as the narrator, so these guys clearly aren't messing around. If you're so inclined (as I was), throw them a donation on Kickstarter, or at least visit their website or blog to learn more about them. I'll give them the parting shot here, with their own description of the film.
Whether you're buying a gallon of gas in Omaha, a loaf of bread in New York, or a condo in Miami, the Federal Reserve is taking historically unprecedented actions that affect your life. But even though Ben Bernanke is in the headlines daily, the average person knows very little about America's central bank.
Narrated by Liev Schreiber, and made by a team of AFI and Sundance award winners, Money For Nothing: Inside The Federal Reserve is the first documentary to take viewers behind the curtain of the world's most powerful financial institution.
The film traces 100 years of Fed history, details the Fed's central role in the 2008 financial meltdown, and asks whether today's Fed policies are sowing the seeds of an even bigger crisis.
Whether you're a Fed novice or expert, Money For Nothing presents an incisive look at this controversial institution, and a much-needed forum for intelligent debate about its role in determining the economic future of our nation.
Join top Fed officials (many of whom are highly critical of recent Fed policies), world famous economists, investors, and traders as they debate the decisions that led the global economy to the brink of collapse - and why we might be headed there again.So donate, watch, or at least take a minute to educate yourselves. Thanks.