A new initiative recently proposed by the Royal Canadian Mint proposes to create the MintChip, a digital currency that’s similar (to BitCoin), but is backed by the Canadian government.
Aiming to become “the digital equivalent of the coins we use every day,” in the Canadian Mint’s own words, the MintChip will target micro- and nano-transactions conducted both online and offline, whether at the physical point of sale, on mobile devices, or among peers. Via
posted by infini
on Apr 20, 2012 -
Sure, the follies of art-speak are easy to laugh at, but often criticism of it begins and ends with a dismissive chuckle – which ignores profounder problems. Why should academic terminology be the default vehicle for discussing art? Why is there such an emphasis on newness, schism and radicality? Even when the art itself may be enjoyably throwaway, language pins it to deathlessly auratic registers of exchange. This suggests a subliminal fear that, if the subject in question is not talked up as Big and Culturally Significant, then the point of fussing over it in the first place might be called into question, bringing the whole house of cards tumbling down
- Dan Fox, the associate editor of frieze magazine, discusses the contemporary art scene in detail.
posted by The Whelk
on Apr 12, 2012 -
India tells Britain: We don't want your aid According to a leaked memo, the foreign minister, Nirupama Rao, proposed “not to avail [of] any further DFID [British] assistance with effect from 1st April 2011,” because of the “negative publicity of Indian poverty promoted by DFID”. But officials at DFID, Britain’s Department for International Development, told the Indians that cancelling the programme would cause “grave political embarrassment” to Britain, according to sources in Delhi. Further embarressment ensues
. Emma Boon, campaign director of the TaxPayers’ Alliance, said: “It is incredible that ministers have defended the aid we send to India, insisting it is vital, when now we learn that even the Indian government doesn’t want it.”
posted by infini
on Feb 5, 2012 -
Note Worthy: [guardian.co.uk]
Global economic meltdown, the euro crisis and Occupy protests – this year has been dominated by financial issues. But what is money anyway? We invited writers and artists including Jonathan Franzen, Margaret Atwood and Naomi Klein to invent new currencies and banknotes for a changed world.
posted by Fizz
on Dec 17, 2011 -
Glengarry Glen Ross endures mainly as a spectacular display of verbal warfare and alpha-male gamesmanship. There’s a musical quality to it, with a great composer and a great chorus hitting the complicated runs of broken dialogue and solos that weave into profane poetry and nuggets of philosophical wisdom. Perhaps the greatest sign of the movie’s success, owed equally to Mamet’s script and this cast, is that it does a great sales job in itself, convincing us that there’s nobility to men who lie for a living — a bill of goods we’re all too happy to buy. [more inside]
posted by Trurl
on Sep 29, 2011 -
is a site that enables the user to enter transactions and track their bank balance via SMS. People sharing a bank account can also get updates when money is spent from the account by the other person. [more inside]
posted by reenum
on Sep 19, 2011 -
In an investment manager's view on the top 1%
- referring to the richest Americans by wealth and income - we learn that one needs $1.2 million in net worth to barely slip in the door of the top 1%. But that's just a start: the real power and influence in the U.S., the author argues, resides in the top 0.1%. You can guess who you'll find there: bankers and large-cap CEOs. Relevant quotes include... [more inside]
posted by mark7570
on Aug 4, 2011 -
Denmark is the happiest place on Earth! At least according to 24/7 Wall Street
, which has released their list of the 10 "Happiest" Countries in the World
. Determined using "11 measurements of quality of life including housing, income, jobs, community, education, the environment, health, work-life balance, and life satisfaction," the United States did not make the cut. The US, however, made it to #1 on the list of the 10 Countries with the Most Millionaires. [more inside]
posted by eunoia
on Jun 6, 2011 -
According to Financial Blog TooMuch,
a new white paper from AdAge claims that the era of "Mass Affluence is over". This means that because the middle-class no longer have the dominent share of disposable income that marketing directly to the super-rich is the future of advertising. This means that if you're over 35 and make $100,000 to $200,000, Madison Avenue no longer really cares about you.
Apparently no one in America really realised what it meant that "The top 10 percent of American households.. now account for nearly half of all consumer spending, and a disproportionate share of that spending comes from the top 10’s upper reaches."
It reminds me of that Steinbeck quote, that 'Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires.'
posted by rudhraigh
on Jun 1, 2011 -
Out of thin air?
"Have you ever said something like 'Let me buy you a beer next week'? I'm sure you have. We all issue promises of this sort. And we frequently use such promises as a form of currency... I have just described a simple credit exchange. Societies rely heavily on promising-making and promise-keeping. It is the foundation of all financial markets. I'd like to point out something about the promises you make. They are made 'out of thin air.' " [more inside]
posted by kliuless
on Apr 14, 2011 -