Central banking systems are very complex, secretive and powerful. In the documentary “Century of Enslavement: The History of the Federal Reserve,” filmmaker James Corbett aims to provide an easily understandable overview of the United States Central Bank. In plain English, Corbett explores the fundamental questions of what money is and how to earn it. It asks viewers whether the national debt is necessary and ultimately explores alternatives that could replace the "fascist collusion" carried out by the current central banking system. Additionally, it explains how the Federal Reserve works and raises many critical arguments against the organization's activities. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay Corbett's documentary is very hostile to the Fed and the "elite banking cartel" that runs it. The Federal Reserve is extremely powerful in that it manages the overall money supply in the United States. It has the power to “create” or “destroy” money and can adjust interest rates. Corbett claims that 90% of the U.S. money supply is created by private banks as loans to the Fed that are repaid to the banks with interest. Therefore, the majority of money in the economy is not created by the government printing money, but by the bank itself. Money is created out of nothing in the form of debt. Additionally, thanks to fractional reserves, banks can lend more money than they actually have in their reserves. Overall, Corbett explores the conflicts of interest inherent in the Federal Reserve System. For example, the 2008 collapse was caused by large-scale institutional speculation and market manipulation. The private banks that orchestrated the financial crisis by bundling and selling subprime mortgages, then in turn betting against these flawed financial packages with credit default swaps, ended up profiting from the “necessary” bailout. to “revive” the economy. . In fact, Corbett says the 2012 GOA report indicated that Federal Reserve board members were tied to $4 trillion worth of loans after the Great Recession of 2008. This massive plan bailout led to record profits for the banks involved in the following years and reveals the importance of reconsidering the role of the Fed and who it supports. Is the Fed working for the American people? It is not accountable to the government and is clearly not a public organization. Overall, the most important question addressed in Corbett's documentary is: will a new global financial system be created? How can we globalize and integrate our financial system? It may be difficult to imagine a post-Fed economy, but the urgency of cryptocurrency is a clear indicator of the changes that might be possible. Bitcoin is a revolutionary new monetary system that some believe has the potential to overturn the current global financial system. Bitcoin offers a decentralized monetary system that uses blockchain technology to remove financial intermediaries. Blockchain makes it possible to send money to anyone anywhere on the planet via a public ledger. Bitcoin is a digital currency or asset that is not backed by any bank or government and is therefore decentralized. Bitcoin can be bought and sold through online exchanges. The mathematical nature of bitcoin imposes a hard limit of around 21 million coins. This means that Bitcoin offers a.