Wednesday, October 29, 2008

“Zeitgeist: Addendum”: The new film by Peter Joseph

Google Video
October 29, 2008

“Zeitgeist: Addendum” (Released October 2, 2008)

Part I criticizes the practice of the fractional-reserve banking system and tries to convey, in a simplified manner, how the Federal Reserve creates money, and what each dollar bill represents -- that is, debt. The film goes on to present a case for how "the Fed" loans this newly created "debt money" to the U.S. Treasury in exchange for bonds. According to the film, the money received from the Fed ends up as deposits in commercial banks, which through the fractional-reserve system is multiplied and loaned to customers. The film claims that such a system is "absurd" because the interest that must be paid for the bonds can only create a perpetual cycle of debt -- since the Federal Reserve Note (i.e., the dollar bill) was created according to the "principal" value of the bond, and not the interest.

Part II is a documentary style interview with John Perkins, in which he describes his role as a self-described Economic Hitman (EHM). He claims he helped CIA and the ruling political/corporate elites who have worked to undermine legitimate foreign regimes that put the interests of their populations before those of transnational corporations.

Part III describes the Venus Project, a proposal created by Jacque Fresco. The film promotes the Venus Project as a sustainable solution for mankind on Earth. Its main goal is to produce a "resource-based economy" using modern technology.

Part IV states that everything wrong with the world is "fundamentally the result of a collective ignorance of two of the most basic insights humans can have about reality -- the 'emergent' and 'symbiotic' aspects of natural law."

The film then suggests actions for "social transformation," such as boycotts of large banks, the mainstream media, the military and energy companies; rejecting the political structure; and "creating critical mass."


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