Central banking systems are highly complex, secretive and powerful. In the documentary “Century of Enslavement: The History of the Federal Reserve,” director James Corbett aims to provide an easily understandable overview of the Central Bank of the United States. Simply put, Corbett explores the fundamental questions of what money is and how it should be created. He asks viewers whether the national debt is necessary and ultimately explores alternatives that could replace the “fascist collusion” driven by the current central banking system. Furthermore, 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 Shouldn't Be Banned"? Get an Original Essay Corbett's documentary is very hostile towards the Fed and the "elite banking cartel" that runs it. The Federal Reserve is extremely powerful as 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 says that 90% of the U.S. money supply is created by private banks in the form of loans to the Fed that are repayable to banks for interest. Therefore, most of the money in the economy is created not by the government printing press, but by the bank itself. Money is created out of thin air in the form of debt. Furthermore, thanks to fractional reserve banking, banks can lend out 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 crash was caused by large-scale institutional speculation and market manipulation. The private banks that orchestrated the financial crisis by packaging and selling subprime mortgages and then, in turn, betting against these flawed financial packages with credit default swaps, ended up profiting from the bailout “necessary” to “revive” the economy. In fact, Corbett says the 2012 GOA report indicated that Federal Reserve board members were tied up in $4 trillion worth of loans after the Great Recession of 2008. This huge bailout led to record profits for the banks involved in the years that followed and reveals the importance of reconsidering what the purpose of the Fed is and who the Fed is supporting. Does the Fed work for the American people? It is not accountable to the government and is clearly not a public organization. Overall, the most important question discussed in Corbett's documentary is: Will a new global financial system be created? How to globalize and integrate our financial system? Imagining a post-Fed economy can be difficult, but the emergence of cryptocurrencies is a clear indicator of the changes that may be possible. Bitcoin is a revolutionary new monetary system that some claim has the potential to overthrow the current global financial system. Bitcoin offers a decentralized currency system that uses blockchain technology to remove financial intermediaries. Blockchain allows you to send money to anyone anywhere on the planet through a public ledger. Bitcoin is a digital currency or asset that is not backed by a bank or government and is therefore decentralized. Bitcoins can be bought and sold through online exchanges. The mathematical nature of bitcoin places a hard limit of approximately 21 million coins. This means that Bitcoin offers a new alternative to our current banking system that removes the corrosive flaw inherent in the practice of printing money at the government's whim. The.