Here are a few of the highlights as reported by the Canadian Press:. Art will take its place next to big-game hunting, armed paragliding, and adventure slumming. Someitmes on Investment ROI The rate of return a company gets from its own investment. Currencies: Euro, Japanese Yen, British Pound Sterling. Initial Public Offering IPO The first sale of shares of a company to the public. There will be ample explanations about how the index works and we will break down the formula in order to provide a better understanding of the function and weight of every component. In fact, higher or lower fluctuations simply imply a net increase or decrease in the demand for commodities and raw materials.
Is art a currency? Investor Stefan Simchowitz thinks so. During the ongoing crisis, investors were showered with tax money, which then went into freeport collections, tower mansions, and shell companies. Quantitative easing eroded currency stability and depleted common resources, entrenching a precarious service economy with dismal wages, if any, eternal gigs, eternal debt, permanent doubt, and now increasing violence.
This destabilization is one reason the value of art looks more stable than the prospects of many national GDPs. In the EU this takes place against a backdrop of mass evictions, austerity, arson attacks, Daesh run amok, and Deutsche scams. Results include child poverty, debt blackmail, rigged economies, and the fascist scapegoating of others for widely self-inflicted failed policies.
Meanwhile, reactionary extremism intensifies in many places. Authoritarian neoliberalism segues into just authoritarianism. A permanent fog of war is fanned by permanent fakes on Facebook. Already deregulated ideas of truth are destabilized even further. Critique is a troll fest. Crisis commodified as entertainment. The age of neoliberal globalization seems exhausted and a period of contraction, fragmentation, and autocratic rule has set in.
Art markets seem not overly concerned. In times in which financial institutions and even whole political entities may just dissolve into fluffy glitter, investment in art seems somehow more real. Moreover, as alternative currency, art seems to fulfill what Ethereum and Bitcoin have hitherto only promised. There are markets, collectors, museums, publications, and the academy asynchonously registering or mostly failing to forex dkm so exhibitions, scandals, likes and prices.
Value arises from gossip- cum -spin and insider information. Fraudsters and con artists mix helter-skelter with pontificating professors, anxious gallerists, and couch-surfing students. This informal ecology is eminently hackable, but since everyone does it, it sometimes evens out—even though at highly manipulated levels. Further down the food chain, media art, like Bitcoin, tries to manage the contradictions of digital scarcity by limiting the illimitable.
As to the encryption part in art: art is often encrypted to the point of sometimes being undecryptable. Encryption is routinely applied, even or especially if there is no meaning whatsoever. Art is encryption as such, regardless of the existence of a message with a multitude of conflicting and often useless keys. It is a fully ridiculous, crooked, and toothless congregation and yet, like civilization as a whole, art would be a great idea. In practice though, art industries trigger trickle-up effects which are then flushed sideways into tax havens.
They bleach neighborhoods, underpay, overrate, and peddle excruciating baloney. The lifestyles of many art workers also support a corporate technological and antisocial infrastructure that whisks off profits into fiscal banana republics. Apple, Google, Uber, Airbnb, Ryanair, Facebook, and other hipster providers pay hardly any taxes in Ireland, Jersey, or other semisecret jurisdictions.
Predictably, this leads to resentment and outright anger. Art is increasingly labeled as a decadent, rootless, out-of-touch, cosmopolitan urban elite activity. In one sense, this is a perfectly honest and partly pertinent description. Authoritarian right-wing regimes will not get rid of art-fair VIP lists or make art more relevant or accessible to different groups of people. In no way will they abolish elites or even art. They will only accelerate inequalities, beyond the fiscal-material to the existential-material.
This transformation is not about accountability, criteria, access, or transparency. It will not prevent tax fraud, doctored markets, the Daesh antiquities trade, or systemic underpay. It will be more of the same, just much worse: less pay for workers, less exchange, fewer perspectives, less circulation, and even less regulation, if such a thing is even possible. Inconvenient art will fly out the window—anything non-flat, non-huge, or remotely complex or challenging. Intellectual perspectives, expanded canons, nontraditional histories will be axed—anything that requires an investment of time and effort instead of conspicuous money.
Public support swapped for Instagram metrics. Art fully floated on some kind of Arsedaq. More fairs, longer yachts for more violent assholes, oil paintings of booty blondes, abstract stock-chart calligraphy. Personalized one-on-one performances for tax evaders. Male masters, more male masters, and repeat. Art will take its place next to big-game hunting, armed paragliding, and adventure slumming.
Yay for expensive craft and anything vacuous that works in a chain-hotel lobby. Plastiglomerate marble, welded by corporate characters banging on about natural selection. Religious nailpaint will slay in all seasons, especially with a Louis Vuitton logo. Genetically engineered caviar in well-behaved ethnic pottery. Bespoke ivory gun handles. Murals on border walls.
Good luck with this. You will be my mortal enemy. Just like institutional critique was overtaken by a neoliberal Right that went ahead and simply abolished art institutions, the critique of contemporary art and claims for an exit from this paradigm why are stock index futures and options sometimes referred to as derivative products dwarfed by their reactionary counterparts. The reactionary exit—or acceleration of stagnation—is already well underway.
Art will be firewalled within isolationist unlinked canons, which can easily be marketed as national, religious, and fully biased histories. If art is an alternative currency, its circulation also outlines an operational infrastructure. Could these structures be repossessed to work differently? Introducing blockchain public records for the production, transaction, and locating of artworks in order to reign in tax fraud and money laundering?
Or on any offshore art-related transaction? Could art as alternative currency not only circulate within existing systems but even launch not-yet-existing economies publics, institutions, markets, parallel art worlds, etc. But to expect any kind of progressive transformation to happen by itself—just because the infrastructure or technology exists—would be like expecting the internet to create socialism or automation to evenly benefit all forex interview questions answers. The internet spawned Uber and Amazon, not the Paris Commune.
Should any less unilateral sharing be suggested, the bulk of capital will decamp immediately. Whatever emerges will be a new version of art-affiliated autonomy In contrast to the modernist autonomy of art schemes, this autonomy is not solitary, unlinked, or isolated. Nor will it come about by some fantasy of progress in-built into technology. On the contrary it can only emerge through both a conscious effort and exchange among diverse entities.
The links it could build on exist as weak links aka, air-kiss links and reshaping them would need to happen within a compromised mess of contradictory activities. If art is a currency, can it be an undercurrent? Could it work like an Unter, not an Uber? How to do this? People are used to perceiving the art world as sponsored by states, foundations, patrons, and corporations.
But the contrary applies at least equally well. Throughout history it has been artists and artworkers, more than any other actors, who have subsidized art production. But why should one sponsor VIP prepreviews, bespoke museum extensions without any means to fill them, art-fair arms races, institutional franchises built under penal-colony conditions, and other baffling bubbles? This bloated, entitled, fully superfluous, embarrassing, and most of all politically toxic overhead is subsidized by means of free labor and life time, but also by paying attention to blingstraction and circulating its spinoffs, thus creating reach and legitimacy.
Even the majority of artists that cannot afford saying no to any offer of income could save time not doing this. Ask yourself: Do you want global capitalism with a fascist face? Forex erode you want to artwash more insane weather, insane leaders, poisonous and rising water, crumbling infrastructure, and brand-new walls?
How can people genuinely share what they need? How can artistic and art-related autonomy evolve from haughty sovereignty to modest networked devolution? How to make tangible the idea that belonging is in becoming—not in having been? Replace speculation with overflow? Art as alternative currency shows that art sectors already constitute a maze of overlapping systems in which good-old gossip, greed, lofty ideals, inebriation, and ruthless competition form countless networked cliques.
The core of its value is generated less by transaction than by endless negotiation, via gossip, criticism, hearsay, haggling, heckling, peer reviews, small talk, and shade. The result is a solid tangle of feudal loyalties and glowing enmity, rejected love and fervent envy, pooling striving, longing, and vital energies. Similarly, arts venues are already shifting into bonded warehouses and overdesigned bank vaults inside gilded, gated compounds designed by seemingly the same three architects worldwide.
Click to start a discussion of the article above. Apparently this specific market crashed in the meantime. Art markets in general are still rather stable. Now, at the end of this historic moment, art as currency seems to have become even more powerful. There is no point in asking whether they are really fascisms or not because fascism is the underlying entity, which may or may not have anything to do with its derivatives.
However, economic reasons are not the only explanation for the new popularity of derivative fascisms. Indeed, the unemployment rate in Germany has fallen to its lowest level in twenty-four years. But in Portugal, economic inequality is way higher, and unemployment is twice as high not to mention state debt and related austerity policiesyet this country does not have a significant right-wing party or movement, partly due to its recent history.
Even in Greece, hardest hit by crippling austerity, votes for the fascist Golden Dawn are going down, not up. In contrast derivative fascisms are strongest either in comparatively rich European countries France, some Scandinavian countries, Austria or countries that are refusing to take in refugees like Hungary or trying to minimize numbers like Poland.
The economy is most certainly an important reason for the acceleration of fascism. But it is also most certainly not the only reason for the boom in fascist derivatives. In light of hard facts, the correlation between economic hardship and fascist popularity is very much complicated. The latter also requires a part of the population that will, if it feels threatened or just slighted, blackmail the whole of society vote fascist, destabilize, or kill. To make this very clear: art is not a cryptocurrency.
I am trying to point out some structural similarities between art systems and cryptocurrencies, not to suggest art as currency works why are stock index futures and options sometimes referred to as derivative products the same way. Nevertheless, the possibility of art becoming a cryptocurrency is raised in a very informative text by J. In contrast to cryptocurrencies, in art there is not the slightest pretense to decentralized transparency, nor the pretense to an automated incorruptible set of functions.
Art as currency gains its relative stability precisely because of nontransparency, and because of its overwhelming reliance on human relations. This leaves art projects that deal with alternative currencies or financial options or contracts on a double scene. They can become representational and sometimes somewhat misleading because they show something other than they actually already do themselves. The use of blockchain technology in art circulation, criticism, and documentation opens up a huge can of worms relating to the quantification of different art phenomena, the manipulation of consensus, submission to the tyranny of averages, etc.
That said, it would be extremely useful to record the provenance and to a certain extent the authenticity of artworks, and to establish public registries of works and their whereabouts in order to prevent money laundering through art. And in the longer run, this kind of record-keeping could perhaps also support more ambitious projects. Of course, this also creates the potential for the total tracking and secondary data analysis of art works, thus assimilating them on another level into social marketing and metasurveillance.
One of many excellent examples is Neue Nachbarschaft in Berlin, where Berliners—both longtime residents and newcomers—come together for art courses and lessons in German or music. The idea is to use technology to connect workers and service-providers to users through platforms that are worker-owned or organized cooperatives. Blockchains are used in many of the already existing examples.
A lot of art projects incorporate different versions of blockchain elements. Art also contains seeds of a potential future mode of circulation based on sharing, the dissolution of enclosures, locally actualized diverse constituencies, and the creation of parallel economies using LETS and other pre-blockchain alternative currencies. Confluence instead of coalition, a way to let movements move. Overflow: productive loss of control over dynamic developments. Your email subscription is almost complete.
An email has been sent to the email address you entered. In this email is a confirmation link. Please click on this link to confirm your subscription. Chritstie's auctioneers vend a Mark Rothko painting. Hito Steyerl is a filmmaker and writer who lives in Berlin. Quite a bit, it would appear. Historical fascism, too, was a many-headed hydra, and scholarly struggles over exact definitions are ongoing, and will continue, for there is no Platonic Idea, but rather a set of historically grown family resemblances—revolving around tropes such.
During the ongoing crisis, investors were showered with tax money, which then went into freeport collections, tower mansions, and shell companies. Brexit, US elections, Russian elections, Georgian elections: after so many political disasters, the limits and goals of emancipation seem to be blurred. Yet they have to be reinstituted again in the centrum forex delhi of a most dispiriting situation—when the Left has fallen into the trap of populism, when liberals resort to conservative moralism, when neoliberals claim avant-garde subjectivity, and when a reversion to tribalism is mistaken for anticapitalism.
Is there such thing as contemporary fascism? Our major difficulty in trying to answer this question is that we rely almost exclusively on historical analogy. While these days reality, for its part, offers ever more socioeconomic, political, and cultural points of. Ewa Majewska and Kuba Szreder. Our image of happiness is indissolubly bound up with the image of redemption.
The same applies to our view of the past, which is the concern of history. The past carries with it a temporal index by which it is referred to redemption. There is a secret agreement between past generations and the present one. The photographer, who in the run-up to the Brexit referendum launched a pro-EU poster campaign, is the perfect poster boy for the EU and the international metropolitan lifestyle it.
Populism is in the air. Establishment media outlets have struggled to make sense of the unaccustomed turbulence that has seized hold of politics in the US and UK this past twelve months. Trump, Sanders, Corbyn, Brexit: these things were not supposed to even stand a chance of happening. The EU Buffer State. There is nothing related. I suppose big art institutions could see themselves as cities. Exhibitions at commercial galleries.
Exhibitions, why are stock index futures and options sometimes referred to as derivative products and teaching positions at art schools world wide. Please click on this link to confirm your subscription. The information you supply will only be used by e-flux.
If You Don’t Have Bread, Eat Art!: Contemporary Art and Derivative Fascisms - Journal #76 October 2016 - e-flux
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6 IFC Bulletin No 35 4. Underlying assets and derivative products While forwards, futures, options and swaps can be viewed as the mechanics of derivation.
The January Barometer, sometimes also referred to as January effect (although the January effect is a different thing), is the theory according to which market.