Saddam Hussein, it was reported after the fall of his regime, had golden toilets, or at least gold-plated toilets.
.. The conceptual piece advanced two ideas that were becoming fashionable at the time: How to create work that was entirely immaterial, rather than a physical object; and how to create work that called attention to the capitalist economy in which art was bought and sold, like any common commodity?
.. The Guggenheim contretemps also has both immaterial and conceptual elements. The immateriality is in the chatter it provokes, the jokes, the pleasure some will take in seeing the president humiliated, and resulting insiders’ discourse about contemporary art and irony. The jokes just seem to make themselves. But it also carries with it a conceptual element based on the exchange, or nonexchange, of one thing for another... The Guggenheim has said no to the president of the United States, which is a powerful gesture in itself. But it has also presumed to offer him something “more” valuable according to the value system it imputes to him: a tawdry love of gleaming gold fixtures, common to vulgar despots all the way back to Midas himself. The subtext here is: We assume you only want the van Gogh painting as a status symbol, which we refuse to endorse; but we will give you what you really crave, which is crass gold.If he accepts the golden toilet, he confirms their view of him. If Trump declines the golden toilet, by implication he would seem to believe that there are things (such as van Gogh paintings) that transcend money and commerce. And thus, he may undermine his own worldview, in which all things have their price and anything can be exchanged for something else if the money is right.So the artwork here is not by Cattelan, who is merely instrumental in this game. Rather it is the work of Guggenheim curator Nancy Spector, who made the offer to the White House. Curators may be talented and creative, but they are not often in the business of making art itself. But now the Guggenheim owns a new work, a Spector original, which will add if not luster at least levity to the museum’s collection.
Roy Moore: Gladiator
Blood sport was also entertainment, of course, but with a political purpose. By extolling violent victory in battle as the highest aesthetic value, the Romans kept the populace committed to imperial expansion (many of the most popular games were “reenactments” of glorious Roman victories). By legitimizing and glorifying cruelty, emperors had a convenient tool for terrorizing their enemies, keeping the people in line, and satisfying their own sadism, as when Commodus tied prisoners together and clubbed them to death, pretending that he was Hercules slaughtering “giants.” Or when a heckler in the stands jeered at one of Domitian’s favorite gladiators and the emperor responded by having him pulled from his seat and thrown to wild dogs in the arena.
.. With the exception of MMA and boxing, which are weak substitutes for watching dudes disembowel each other with pikes and swords, we don’t have literal gladiatorial games in America today. But we have plenty of figurative ones. Lots of movies, video games (“Finish him!”), and TV shows all serve a similar function, even if our political rulers don’t play anything like the kind of role the emperors did in dictating the stories they tell.
.. we carry ideas across all of these borders, in part because that’s just how language works. (For instance, sports, journalism and politics are a battleground of martial metaphors: campaign, over the top, ceasefire, crossfire, besieged, firestorm, salvo, hotshot, friendly-fire, launch, collateral damage, decimated, firestorm, and on and on).
.. Well, have you noticed how ads from the NRA and gold bugs have changed their tone of late? No doubt in part because a Republican-controlled government poses little plausible threat to gun rights, the NRA is now investing heavily in partisan tribalism and paranoid fear of social unrest.
.. Now, I should say, there’s a lot I agree with in the ads, but the tone and overall message strikes me as exploitative and creepy coming from a gun-rights group. I have the same feeling about this odd battleships-and-bullion mash-up of patriotism, nostalgia, militarism, and paranoia from our friends at Rosland Capital.
.. When you lower the barriers between politics and entertainment you get more politics in entertainment, but you also get more entertainment in your politics. It’s like the old Reese’s Peanut Butter Cup commercials, “Hey, you got your politics in my popular culture!” “You got your popular culture in my politics!”
..Donald Trump leapt into politics from the worlds of reality shows and professional wrestling. In those worlds, the most important thing is holding the attention of the audience. In wrestling, if you can be popular playing the “face” — the good guy — great. But it’s far better to be a ratings-grabbing “heel” — the bad guy — than to be a boring face. The same goes for reality shows. Puck from the Real World and Richard Hatch from Survivor proved long ago that compelling a**holes are better than boring nice people. As far as I can tell, all of the Desperate Housewives are horrible people.
.. Most of the people who voted for Moore don’t actually agree with him. They find him entertaining.
.. I have no doubt that many of the people who voted for him are decent people. I’d also bet lots of them don’t agree with Moore’s shtick. Do all the patriotic Alabamans who voted for Moore believe that 9/11 was God’s wrath on a sinful America? Or that America is “the focus of evil in the world?” I very much doubt it. Do they all think evolution is “fake”? Some? Sure. All? No way.
.. Moore is like a right-wing version of the “Progressive Liberal” heel. I’m sure many like his brashness and forthrightness and his unapologetic defense of Christianity. And while I haven’t run a focus group or anything, I strongly suspect his real value-add is that he horrifies all the right people. Like that other political stock character with the same last name, Michael Moore, his appeal lies in the fact he’s a living Internet troll.
.. we also know that Moore won in part because voters were led to believe that this would be a hilarious way to screw with Mitch McConnell and “The Establishment.”
.. The Republican brand will be tarnished even more as mainstream media outlets and late-night comedians gleefully broadcast Moore’s asininity to the broader public. But, yeah, sure: It’ll be entertaining for people who now follow politics like it’s one long pro-wrestling kayfabe... The more unproductive and dysfunctional Washington is, the more it seems irrelevant to, or incapable of improving, the lives of regular people, the lower the stakes become in treating politics like entertainment. If “The Establishment” can’t deliver the goods, why not just treat it like the straight man for clowns like Moore?
Bitcoin’s Wild Ride Shows The Truth: It Is Probably Worth Zero
The digital currency’s value depends on it becoming digital gold—or on criminals
There is no chance whatsoever that bitcoin can displace the dollar, for the simple reason that it is badly designed. Bitcoin can handle a pathetically small number of transactions, and uses an inordinate amount of electricity to do so, making it entirely unsuitable to replace ordinary money.
.. Even if bitcoin worked better, it is in a Catch-22 because of Gresham’s law, the nostrum that bad money drives out good. Given the choice of spending inflationary government-issued money or something which holds its value, everyone would spend the bad paper stuff and hoard the bitcoin. You wouldn’t want to be the person who spent 10,000 bitcoins on two pizzas in 2010, when a bitcoin was worth a fraction of a cent. Those bitcoins are now worth $40 million. But if no one spends bitcoin, it will never get established as a currency.
.. There are two somewhat less ambitious claims for bitcoin that could give it value.
- The first is that it is a limited form of money because of its usefulness for dealing illegal drugs and dodging capital controls.
- The second is that it is a form of digital gold: an insurance that will keep its value even if governments confiscate or inflate away the buying power of the currencies they issue.
In any currency, the money supply multiplied by how often it circulates equals
- the price level times
- the number of transactions.
For bitcoin we can estimate three of the four variables
.. Assume that all drug dealing moves online, that bitcoins circulate as rapidly as ordinary currencies and estimate a $120 billion-a-year market for illegal drugs, and the formula spits out an ultimate value of $571 for a single bitcoin. The more drugs traded, the higher the value, and the more bitcoin hoarded rather than spent, the higher the value.
.. On this basis the recent price of $3,950 is mostly speculation, and J.P. Morgan Chase & Co. Chief Executive James Dimon’s comparison to the 17th-century Dutch tulip mania is apt... the potential to replace gold gives us some figures to work with. Thomson Reuters GFMS estimates there were 2,155 metric tons of gold held in exchange-traded funds. Switch all of that into bitcoin and it would justify a price of about $5,500 for the 17 million bitcoins currently outstanding.
Switzerland’s Niche in Global Gold Trade Draws Scrutiny
Argor-Heraeus and other Swiss gold refiners are starting to be held accountable for their industry’s alleged role in unlawful transactions and mining abuses.
All four Swiss-based refiners have been accused in recent years of lapses related to the alleged facilitation of money laundering, human rights abuses and war crimes… a parliamentary proposal made last year for new restrictions on the industry’s acquisition of gold. Voters may have a say in about two years on a measure that could force refiners and other multinationals to disclose data on the human-rights records of their suppliers... Switzerland imports gold in quantities nearly equal to the amount officially taken from the earth in any given year. Last year, Switzerland imported the equivalent of 81% of the world’s gold production from mines
.. According to a decision Swiss federal prosecutors issued last year, gold looted in the Democratic Republic of Congo to fund armed conflict was refined by Argor roughly a decade ago. Argor “provided assistance” to war crimes