The People v. Larry Flynt initiated a public discussion in the United States on 'freedom of expression'. By analyzing reviews and discussion of the movie in US newspapers and magazines, I look at the way in which 'freedom of expression' is constructed as a core American liberty. I argue that this construction is an example of ideological fantasy, which relies on a fetishization of individual expression as proof of freedom. The public discussion I analyze constructs a fantasy of exaggerated 'freedom' by focusing on individual and sexual elements of speech and ignoring economic constraints on speech in the movie and in US political and social life.