The Wizards of Money

This series discusses the workings of the international financial system in a playful way. The title comes from "The Wizard of Oz."



The series was recorded 2002-2003. It predicted much of what happened in 2008. Your hostess, Smithy, was purportedly a financial risk consultant who did this series anonymously to protect her career.

Smithy and her website, wizardsofmoney.org, have disappeared from the internet. A few underground sites continue to mirror the audio files.


How money is created
Most currencies are not backed by anything and are created out of thin air by private banks.
Financial risk transfer
How taxpayers have been set up as the guarantors of last resort for speculation and risky loans.
Banking on poverty
Monetary policy not only ignores the poor, it silenty promotes their explotation.
Wizards and warlords
Financiers need war and generals need financing.
Monetary terrorism
How financiers and speculators move money to influence political decisions.
Democratizing money
How capital markets undermine democracy, and the use of alternative currencies
Money Cycle - Water Cycle
How the financial system interferes with the functioning of the environment
Trading Nature and "Cooking the Books"
How creative accounting makes the financial system more profitable, but less stable
Jack and the Sweatshop
GE's CEO, Jack Welch, and his influence on corporate culture
Back to the Twenties Through the Looking Glass - Steagall
Comparing the pre-crash eras of late 1920s and the early 2000s.
House Lever-Edge at the Derivatives Casino
The world of financial derivatives and leverage
The Imperial Budget and the Mythical Lock Box
The biggest budget in the history of mankind: the US government
Bankruptcy Bill's Shoot-Out at the Social Safety Net
How the credit system pushes users toward bankruptcy, then makes it unavailable.
The Trade Federation and the InterGalactic Banking Clan
A "Free Trade" agreement, GATS
Homeland Securitizations and Overseas Vacations
Financial securitization and regulatory relief in off-shore havens