The Ascent of Money on PBS - Preview

In The Ascent of Money, author and Harvard Professor Niall Ferguson takes a 'Money 101' approach to enlightening viewers about what establishes the value of money, and how it is used to fuel the world's financial engine.

Ferguson traces the history of money from ancient times, when inscribed clay tablets were used as promisory notes that gave the bearer the right to collect a sum upon presentation of the tablet, to the present, when paper money still gives the bearer the right to collect a sum upon demand. In other words, there is no inherent value in paper money or, for that matter, the base metal coins we use. As Paul Volker comments in the film, paper money's value is based on "a con game--or a game of confidence" that tests the public's faith in the system itself on a daily basis.

One of several recent documentaries investigating the current worldwide economic situation, The Ascent of Money attempts to enlighten the public about how the money supply is manipulated by the government and by several individuals who control internaitonal monetary exchange, bond issues and hedge funds.

Further, the film details how America has been sold into debt to China, and evaluates possible results of the creation of 'Chinamerica.'

In this period of financial crisis, when people are struggling to preserve their assets, rebuild financial lives that have crashed or, even worse, prevent personal bankruptcy, this two-hour documetary provides extremely valuable insights. See it on PBS starting on Tuesday, January (check local listings for broadcast schedules.)