Filmmaker Michael Covel on Broke: The New American Dream

"[Politicians and the Federal Reserve] rigged the market," says financial author and filmmaker Michael Covel. "They rigged the market through interest rate manipulation and we're still paying for it today." In his documentary, Broke: The New American Dream, Covel explores the roots of the financial crisis, which he traces back to Netscape going public in 1995.

Covel sat down with Reason.tv's Ted Balaker to discuss the role politicians, the Federal Reserve, Wall Street, and media figures like CNBC's Jim Cramer played in the financial meltdown. Topics include: why Covel is down on "buy and hold" as an investment strategy and the differences between state lotteries and poker.

Approximately 9.18 seconds.

Shot by Alex Manning, Hawk Jensen, and Paul Detrick. Edited by Detrick.

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[SuperAtheist]

if there were no federal reserve, the interest rate would have been set by the free market.

[Buffalo122333]

"From my point of view most politicians have zero value."

He gives them far too much credit.

[frankp12345]

@contactphotographer - He doesn't trade - he just passes on what he's learned from "talking" to traders. Pretty crazy that he's making money of that eh?

[THERollyboy123able]

I know a website that offers a secret code that produces 90% success ratio on gold trading. Go check them out, just google Gold Trading Academy and make as much money as you want.

[contactphotographer]

Does Michael Covel trade himself? Or does he just write and talk for a living?

[Gregoryde]

WAY TOO NEGATIVE about government.

[nottinmatterz2day]

@SuperAtheist END THE FED

watch?v=6wb99zNjpEY

[nottinmatterz2day]

I can't find this movie, where can it be seen

[MarketsandPolitics]

Michael Covel is a weird man with weird ways of describing things.

[scwallac]

Cool, I would watch that documentary. But where can I buy it or watch it?

[Buffalo122333]

@goozdude400

Watch - Keynesian Predictions vs. American History | Thomas E. Woods, Jr.

/watch?v=6XbG6aIUlog

Keynesians are always wrong.

[yakyakyak69]

@CosmosPrivateer

Unlimited Fiat Currency is the ROOT of ALL Gov't EVIL.

Without unlimited debt-currency, tyranny has NO funding and can NOT get out of control. It ALL starts with Central Banking & Counterfeit Fiat debt-currency.