Films about money
31:54Based on the book of the same title by Juliet Schor, The Overspent American scrutinises the form of consumerism ever-pervasive in this current era that is driven by upscale spending and debt; shaped and reinforced by a media system driven by commercial interests. We’re encouraged from all angles to spend money we don’t have, working longer hours than ever before. Illustrated with hundreds of examples, The Overspent American draws attention to both the financial and social costs of this giant consumption machine, where the frivolous and relentless search for “happiness” and identity is espoused by advertising.
54:31The Power of the Fed investigates how the United States central bank’s actions have played out over the years on Wall Street versus Main Street, since the last financial crash of 2008. The film traces how the experiment the Fed began in 2008 has been dramatically ratcheting up, peaking with the COVID-19 crisis in 2020. But, of course, rather than help correct from the huge corruption and financial abstractions that caused the 2008 crash, the fed has doubled down on its policies of “quantitative easing” which have gone on to help widen the greatest inequality of wealth in history, pushing financial products even further removed from the economy, driving inflation, automation, and worsening the impending cycles of boom and bust. The rise of speculative cryptocurrencies and non-fungible tokens (NFTs) has only fueled the mania, as economic volatility increases.
1:18:37By comparing the confluence of ideas about modifying behaviour using shock therapy and other forms of sensory deprivation (which culminated in the top-secret CIA project called MKULTRA during the 1950s) alongside the metaphor of similar shock treatment modifying national economics using the teachings of Milton Friedman and the Chicago School of economics, The Shock Doctrine presents the workings of global capitalism in this framework of how the United States, along with other western countries, has exploited natural and human-engineered disasters across the globe to push through reforms and set-up other mechanisms that suit those in power and ‘shock’ other countries into a certain wanted behaviour. Chronologically, some historical examples are the using of Pinochet’s Chile, Argentina and its junta, Yeltsin’s Russia, and the invasion of Iraq. A trumped-up villain always provides distraction or rationalisation for the intervention of the United States—for example, the threat of Marxism, the Falklands, nuclear weapons, or terrorists—and further, is used by those in power as more justification for the great shift of money and power from the many into the hands of the few(er).
1:18:01The Spider’s Web: Britain’s Second Empire shows how Britain transformed from a colonial power into a global financial power. At the demise of empire, the City of London’s financial interests created a web of offshore secrecy jurisdictions that captured wealth from across the globe and hid it behind obscure financial structures, and webs of offshore islands. Today, up to half of global offshore wealth may be hidden in British offshore jurisdictions, and these are now the largest players in the world of international finance. Based in part on the book Treasure Islands by expert Nicholas Shaxson, and through contributions from former-insiders, academics, and campaigners for justice, The Spider’s Web reveals how, in the world of international finance, corruption and secrecy have prevailed over regulation and transparency, and how the United Kingdom is a pioneer of the modern corrupt global economy.
51:35The Tax Free Tour travels the globe to expose the workings of offshore tax havens and the elite banking systems of the world’s billionaires which operate in extreme secrecy. Using examples from multi-national corporations such as Apple Computer and Starbucks, the film traces sizeable capital streams that travel the world literally in milliseconds—all to avoid local laws and paying tax. Such routes go by resounding names like ‘Cayman Special’, ‘Double Irish’, and ‘Dutch Sandwich’. The Tax Free Tour is a sobering look at how the world’s rich live in an entirely different world than the rest of us…
50:29The Wall Street Code explores the once-secret lucrative world of prolific algorithmic trading by profiling an inside programmer who, in 2012, dared to stand up against Wall Street and its extreme culture of secrecy, to blow the whistle on insights into the way the modern global money market works. His name is Haim Bodek—aka ‘The Algo Arms Dealer’—and having worked for Goldman Sachs, his revelations speak to the new kind of wealth made only possible by vast mathematical formulas, computer technologies and clever circumventions of laws and loophole exploits. Vast server farms and algorithms working beyond the timescale of human comprehension, have largely taken over human trading on the global financial markets for decades. What are the implications of that? The algorithms seem to have a life of their own. Snippets of code secretly lie waiting for the moment that your pension fund gets on the market; trades done in nanoseconds on tiny fluctuations in stock prices. And the only ones who understand this system are its architects—the algorithm developers. The Wall Street Code provides just a small insight into this new world of high-frequency trading, amongst other things…
46:48For more than three decades, transnational corporations have been busy buying up what used to be thought of and known as unbuyable—forests, oceans, public broadcast airwaves, important intellectual and cultural works. Before their commodification, these commons were recognised as things in common to all people, for the benefit of all people. In This Land is Our Land, author David Bollier confronts the free-market extremism of our age to show how commercial interests have been undermining the public interest for years, and how it’s become so normalised that we don’t even notice it anymore. By revealing the commons within the tradition of community engagement and the free exchange of ideas and information, This Land is Our Land shows how a bold new international movement is trying to reclaim the commons for the public good by modelling practical alternatives to the restrictive monopoly powers of corporate elites.
1:08:51Recorded by over 100 media activists, this film tells the story of the enormous street protests in Seattle, Washington in November 1999, against the World Trade Organisation summit. Vowing to oppose—among other faults—the WTO’s power to arbitrarily overrule nations’ environmental, social and labour policies in favour of unbridled corporate greed, thousands of people from all around the United States came out in force to stop the summit. Against them was a brutal police force and a hostile media. This Is What Democracy Looks Like documents the struggle, as well as providing a narrative to the history of success and failure of modern political resistance movements.
51:54War By Other Means examines the policy of western banks making loans to so-called ‘third world’ countries, which are then unable to meet the crippling interest charges—debt used as a weapon. The film primarily analyses ‘Structural Adjustment Programs,’ which are proclaimed to enable countries to compete in the ‘global economy,’ but have the opposite effect of lowering wages which in turn further transfers the wealth from the poor to the rich.