As the world continues to struggle to find its footing amid rising unemployment, constricted credit and crumbling banks and industries — raising questions about how the economic system collapsed — PBS presents Niall Ferguson’s ASCENT OF MONEY. This groundbreaking four-part series examines the creation of the economic system by taking viewers on a global trek through the history of money. (An abbreviated version of the documentary, which focused on the current economic crisis at the advent of the Obama administration, aired in January; it can be streamed in full on the Website.) The four-hour version delves deeper into how the complex system of global finance evolved over the centuries, how money has shaped the course of human affairs and how the mechanics of this economic system work to create seemingly unlimited wealth — or catastrophic loss.
ASCENT OF MONEY is based on Ferguson’s best-selling book The Ascent of Money: A Financial History of the World, which predicted the current economic crisis and was released within weeks of the meltdown of sub-prime loans.
Said Ferguson, “In the midst of a major economic depression, it is often hard to appreciate the historical precedents and truly understand that while a situation may look dire, our system of finance, banking and trade has allowed for unprecedented progress. I’m hopeful the film will allow viewers to better understand the on-going evolution of our financial system and how our economy remains extraordinarily viable even as we are grappling with a crisis of historic proportions.”
For millions of people, the recession has generated a thirst for knowledge about how our global economic system really works, especially when so many financial experts seem to be equally baffled. In ASCENT OF MONEY, economist, author and historian Ferguson offers insight into these questions by taking viewers step-by-step through the milestones of the financial history that created this system, visiting the locations where key events took place and poring over actual ledgers and documents — such as the first publicly traded share of a company — that would change human history. Ferguson maintains that the history of money is indeed at the core of our human history, with economic strength determining political dominance, wars fought to create wealth and individual financial barons determining the fates of millions.
Among the places Ferguson visits are Bolivia, where Spain established vast gold and silver mines — still in operation — and enslaved the indigenous people to create so much currency for the Spanish crown that it eventually became worthless; Italy, where the Medici family transformed the sinful practice of usury into the banking system we know today and in the process became as powerful as monarchs; Paris, where Scotsman John Law created a Ponzi scheme tied to the Louisiana territory that brought France to its knees; London, where bonds trader Nathan Rothschild and his family nearly went bankrupt by helping to finance the British army’s war against Napoleon, then achieved enormous wealth through the buying and selling of war bonds; Scotland, where two ministers established the first life insurance fund, and New Orleans, where the shortcomings of their calculations would be demonstrated to tragic effect in the wake of Hurricane Katrina; and New York, where Ferguson interviews financial wizard George Soros about the concept he introduced of short selling derivatives based on a prediction that they will lose value.
Through this history, viewers learn economic fundamentals that inform the meanings of sub-prime mortgages and credit default swaps and an understanding how the Chinese economy has risen to dominate the world.
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Ya,spider-man three was like the second worst one.I cant belive they did that.I’m hoping number 4 is better.
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Anti indianism; Dear VIJAY sahab, You again missed out my questions; Yes you are right, rupee news tend to put down india and you as patriotic indian understandably try to pay in kind. That is fine with me as long as you write and advance the learning process abt religions/politics;Polemics are dead ends. Akhbar for example is correct.There is no proper education abt islam and its role in india. AS a result hindus are brain washed first by Parents and then also by RSS/BJP. Their anti muslim hatred is well established ;this does n’t wash with a ” muslim president”etc.ABT education many hindus feel that muslims consider king Akbar as ALLAH; ONe hindu lady here in the US cofessed with me; She said i hear this 5 times a day in india from the MOsques; Azaan or call to prayer says ” ALLAH AKBAR “. This is first hand true citation. You said Qoran forbidds Muslim killing muslims; YOU should know that ” ANY KILLING ” is forbidden including all humans; ALLAH says ” BY killing one pserson you kill all humans and by saving one life one saves the humanity”. You can now punch holes in this with examples but that ” does not change the realityQORAN. YOU perhaps dont not know that during muslim period HINDU Brahmins had mastered Arabic language and QORAN; They had a check on on many king’s politics pointing out ” sir this is against Islam”; These learned brahmin scholars knew that ” forced conversion is NON islamic”. There you have it; South asia has retained a hindu majority even after 1000 yrs rule. BUT Islam is impacted by India’s hindu cultur and systemalso a very natural outcome not good/bad. i dont mean to second guess your history data base. Please do read romlla thaper with open mind as a student and not as HINDUISN DEFENDER; MY own work can give some glimpes as to how religions arose. WHY the story of krishna is similar to MOSES and Hanuman is traceable to Enkido of epic of Gilgamesh of Iraq; and why/how words, Indira, mitra etc were written in abt 2000 BC in syria. Humans have one shared birth,religion/cultur/languages, That single religion as Akhbar navees says is called ISLAM by muslims and “SANATNA DHARMA” ( eternal for all time religion) by hindus. There are many ways to reach God/salvtion as swami Viveka nand had it. With the sense of altered faith in ” out of africa ” evolution, hindus will accept muslims just more group among several who kept coming for ” FOOD/SHELTER” in to indiabasic drive for dispersal of man. All muslims are converted is very well documented by DNA studies; Do you become foreigner/outsider with religion change? THIS was indeed the teachings of every hindu leader that muslims are outsiders. You can check out Sarvarkar, bankim chatterji,Dayannand, Golwalker, and even Gandhi. What is your take on it? every hindu will believe in this if he does not become from Indo centric to afrocentic. BUT hindus are brainwasehed ( like all others, muslim,jews etc)in indo-centric creatioism/4-racism. India as cradle of civilization and Sanskrit as the OLDEST MOM of all languages. This is fundamental. DONT you believe in this ?. Thus any deviation can cause a mortal blow the DHARMA.Now you can see the real cause of hindu/muslim hatred and polemics. Hindu nationalistsRSS/BJP can tolerate muslims as ” act of magmanity/grace/kindness” BUT will not accept them as equal indian and will consider as ” desendents of invaders/foreigners. YOU really need to go many miles to alter you basicsINDO_CENRIRISM. That is the problem which i have tended to adress in my book ” urdu/hindi an artificial divideafrican heritage”.
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There were no vidoes, but there were moving cameras. Where do you think all the films of Hitler came from?
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A few years back three young men from a local high school in Victoria, B.C., were charged with the murder of the mother and grandmother of one of the boys. Quite a shock to our small city. The police managed to catch the boys in their lies about their whereabouts. They turned on each other. All three were found guilty and jailed as adults. The master mind, the (grand)son, turned out to be the mastermind, a greedy, twisted person bent on gaining his inheritance of millions of dollars. Anything is possible; people can seem to be of one temperament, but are in fact of another. Ms. Knox’s innocence (or guilt) will likely be determined in the near future as the truth starts to emerge from the contradictions. In the meantime, may all the parents, especially the parents of the murdered girl, find peace.
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I don’t know if it’s a re-run, but David Zinczenko will be on “The Bonnie Hunt Show” again on Monday, March 8th, 2010.