Shortly after Hollywood writer/director/actor Peter Antico read my book Who stole my pension? Last year, he called me on behalf of a group of SAG/AFTRA members, including Ed Asner (of TV fame Lou Grant) and Titanic movie star Frances Fisher. The group of actors were outraged that in the midst of a global pandemic, the union was cutting healthcare coverage to nearly 12,000 mostly elderly union members who had contributed to the scheme for 20 to 50 years.
As the pandemic raged, the group met regularly for months via Zoom to file a class action lawsuit to protect rank and file members. Contrary to popular belief, most SAG/AFTRA members don’t lead lavish lifestyles – they struggle to earn even $30,000 a year. For many, the loss of health care coverage last year was devastating.
Finally, in December 2020, we filed the class action against SAG/AFTRA. “They can’t get away with it,” said Asner (now deceased) BNC News. “It’s criminal.” On the day of filing, Eleven Films released a short public service announcement about the SAG/AFTRA healthcare plan cuts featuring Morgan Freeman, Whoopi Goldberg, Connie Stevens, Amy Schumer, Martin Sheen, Elliot Gould, Matthew Modine, Mark Hamel and Asner.
The Hollywood crowd isn’t necessarily known for its financial acumen, but Antico stands out for both its passion and knowledge of the investment world.
So when I learned that Antico and Sean Stone (Oliver Stone’s son) were working on a 2 hour documentary film that Antico directed and produced with Stone, I was intrigued.
The film, The Money Paradigmopens in Los Angeles on Friday, December 3 at Laemmle Theater in North Hollywood, Calif., for the qualifying round of the Oscars Documentary Feature Competition. It is also available to stream on www.theparadigmofmoneyfilm.com. Here is a trailer for the film.
Compared to The big court on steroids, The Money Paradigm penetrates deep into the infrastructure of the global financial system and exposes the corrupt policies that enable the transfer of wealth from the middle class to the 1%. The film points out that the one percenters now own more wealth than the entire middle class.
Today, the message that our financial system is unfair and corrupt is receiving more attention than ever.
It’s no secret that the global pandemic has been devastating for low- and middle-income Americans, as the wealthy have seen their stock market portfolios increase.
It’s no secret that many Americans work for less than the living wage.
It’s no secret that the overwhelming majority of Americas have little or nothing saved for retirement and will likely spend their golden years in poverty.
It’s no secret that company pensions are nearly extinct and 401k’s have failed to provide comparable retirement security to private sector workers.
It is no secret that public pensions are seriously underfunded and civil servants are threatened with benefit cuts almost daily.
It’s no secret that, like the Pandora’s Papers exposed, the wealthy are hiding billions in offshore accounts to evade US income tax.
But there are secrets to tell. The Money Paradigm The documentary exposes that due to corporate greed, widespread systemic corruption and regulatory capture, this transfer of wealth comes as no surprise.
In short: if you think the financial system isn’t rigged, you don’t know the financial system.