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Where the hell has Hollywood been hiding its best movies this wildly erratic year? After being forced to slog through the summer’s compost heap of genre and franchise mediocrities, heads were ready to explode. But ever since Alfonso Cuarón’s “Gravity” and Steve McQueen’s “12 Years a Slave” emerged in the fall, audiences have been treated to a steady flow of some of the most visceral and creative film offerings in a long while. Now we can add David O. Russell’s unforgettable “American Hustle” to an already heady mix.

Cynics know the awards season scam of studio’s programming of tony films with pedigreed casts and other bait. But “American Hustle” is something truly special. Yes the 1970s periods details are beyond retro cool. However, what elevates the film is its director, who truly understands the importance of harnessing the energies of an ensemble and production team. The result is a peerless collaboration that has resulted in a modern American film classic.

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Life, liberty and scandal have long been an American tradition and no decade held this truer than the 1970s. With the United States finding its post-Vietnam wounds ripped opened anew by Watergate, the gas crisis and a failing economy, trust and faith were in very short supply. Russell shrewdly sets his “Hustle” against this background, pulling threads from one of the more notorious events of the decade: ABSCAM. But this is no history lesson. Rather, rather, it is a self-described “fictionalization” of events that answers the question, “What would characters designed by author Damon Runyon would look and sound if interpreted by the Martin Scorsese and Oliver Stone of yore?”

Christian Bale stars in “American Hustle” as Irving Rosenfeld, a charismatic con man that has made good with his felonious version of the American Dream. This is someone who sees the big picture, never taking on more than he can handle. Yet when his own mettle is challenged and met by the stunning Sydney Prosser (Amy Adams), Rosenfeld may have reached too far into the till. After the couple’s services are engaged by loose cannon FBI agent Richie DiMaso to sting New Jersey politician Carmine Polito (Jeremy Renner), it is the wild card of Rosenfeld’s wife Roslyn (Jennifer Lawrence) threatens to bring the entire operation to its unsteady knees.

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It isn’t just ego and arrogance that fuels the engine of “American Hustle.” The con is gloriously presented as an intricate game of strategy, but its larger than life participants are also deeply flawed people who want too much – love, power, respect — for their own good. “American Hustle” soars because it is a human comedy in its rawest form, where emotions run too high for anyone to see their motivations are wildly off center. Through it all, Russell’s clear-eyed direction as a knowing ringleader keeps them all under the big top as a unified artistic front by never lapsing into caricatures.

Without question, the ensemble players of “American Hustle” flourish in the impeccable production designed by Russell’s teams. Led by director of photography Linus Sandgren, production designer Judy Becker and costume designer Michael Wilkinson, Russell and company have worked wonders to create an immersive experience for cast and audience alike. It may ape the stylistic and electric dramatic bolts of lightning unfurled by such 1970s titans as Francis Ford Coppola, Robert Altman and Sidney Lumet. Yet, “American Hustle” goes beyond mere homage. Russell stands alone as a 21st century filmmaker because the universality of the narratives he creates apply to us in 2013. Then there is his uncanny ability to bring out the best in his cast.

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With Bale, Adams, Cooper, Renner and Lawrence you will witness the exemplary leaders of a repertory company, pure and simple. The ferocity with which the cast of “American Hustle” disappears to inhabit their roles is what will linger long after the credits roll. Faces are important to Russell, and not one human being in the film ever breaks the spell by being too modern or pretty. It is almost unfair to single anyone out. However, Bale is a marvel to behold, even given his atrocious comb-over hairstyle and paunch grace and style. The same applies to Cooper, whose own talents have flourished in this second outing with Russell. Even Renner, who has yet to define his own place as a leading man, brings great vulnerability to the fray. Yet, “American Hustle” belongs to its women.

Lawrence is getting the lion’s share of attention because she has the showier role as Roslyn, but the attention is positively deserved. Like a hit of an unfiltered cigarette, the Oscar winner grabs you by the throat in a performance unlike anything she’s delivered on screen to date. She’s thrilling to watch, making the most of a supporting role that commands the eye even when she’s standing still. Yet, it is Adams who is the revelation worth championing.

Alluring, sexual and jaw dropping predatory as she swaggers on screen, the multiple Oscar nominee earns her place as a leading lady for our time. Her Sydney is a revealing performance in the literal and figurative sense. The deeper she commits to her role in the con, the less she wears to conceal her truth to those vying for her attention. With Bale, Adams is confidence and power. With Cooper, their combined sexual heat almost melts the screen without ever disrobing. With Lawrence, what could have been the clichéd bitchfest moment is transformed into something achingly human, angry and truthful.

Russell has been in an upward swing since “The Fighter,” but he has reached some vertiginous new heights with “American Hustle.” It’s hard not to want to wax lyrical when films like this show up on screen. But when they do, dare to look away from the mirror they present to us all. What also makes this “Hustle” move so beautifully is the reality it presents. The humor of Russell’s expertly crafted drama will seduce you, but it is the bittersweet reminder of how painfully weak we mere mortals remain that will make your night at the movies one to remember.

‘American Hustle’ is in NY and LA theaters today, everywhere Dec. 20.