SafetyTat- Temporary tattoos designed designed to be used as identification devices for children. Includes several designs for non-verbal and autistic children. Via That's Fit.
"Ten Thousand Cents" is a digital artwork that creates a representation of a $100 bill. Using a custom drawing tool, thousands of individuals working in isolation from one another painted a tiny part of the bill without knowledge of the overall task. [more inside]
Pay to play. The children of big-donor Harvard alums are systematically given preference over legacy offspring of lesser means. Additionally David Karen, now a professor at Bryn Mawr, concluded that alumni children at Harvard lose most of their admissions advantage if they apply for financial aid.
Inflation in Zimbabwe recently reached 160,000%. Get in on the ground floor now by purchasing a $50,000,000 bill (currently selling for 20,000x its value). Dare to become a millionaire!
The Most Important Article You Did Not Read This Week Now, it is true that the most important article you probably didn’t read contains all the usual hair-raising things you’d expect to see about the real estate market, including “developers under siege,” “signs of weakness in key markets,” developers “slashing prices,” and the head of a major builder advising “that people wait three to four years before purchasing a new home.” But the most important article you probably didn’t read is not about real estate markets in Naples, Florida, or Sacramento, California. It is about China. [ full WSJ article here]
Little by little, millions of Americans surrendered equity in their homes in recent years. Lulled by good times, they borrowed — sometimes heavily — against the roofs over their heads.
Now the bill is coming due.
Now the bill is coming due.
Columbia Business School doesn't like Ben Bernanke. The Previous Link is a Music Video from Columbia Business School. No Billy Joel, but it is a music parody. You might not like music parodies which is A-Okay, but this is a financial focused music parody from a business school improv group. It made me smile wanely a few times, but I still enjoyed it. You might not. I am sorry if you do not. If you don't, maybe you would like a video about munchkin kittens. [more inside]
Payback is a b*tch. Former presidential scandal Gennifer Flowers is putting the tapes of her recorded conversations with Bill Clinton -- which she was previously offered $5 million for -- up on the auction block. [more inside]
According to the latest biweekly numbers released last Thursday by the Federal Reserve, for the two weeks that ended January 16th American banks had negative $1.3 billion in non-borrowed reserves. This is, historically, extremely unusual; just two months ago they had $30 billion (positive, of course) in non-borrowed reserves. The only reason some banks haven't been shut due to insufficient -- negative! -- reserve requirements is that the Federal Reserve is currently loaning them enough money through the brand new TAF (Term Auction Facility) program (also running in Canada and Europe) to make up their shortfalls. Today's TAF press release says that 52 American banks or institutions are currently receiving loans totaling ~$40 billion -- but the Fed refuses to name who they are. [more inside]
While the US equities markets were closed on Monday for Martin Luther King Day, stock markets around the world took a nosedive, losing billions in equity; the markets in Australia, South Korea, Japan, China, Indonesia, Hong Kong, Germany, France, the UK, and more countries have dropped at least 5% each (Canada only fell 4.75%), even though most of those markets had already been seriously down for several days prior. India has been hit particularly hard, at one point down a whopping 11%, tripping their markets' automatic "circuit breakers" for a mandatory time-out period, before scraping back up to close at 8% down. US futures markets are currently predicting a 650+ point drop just at the open Tuesday morning, before even a single trade goes through. [more inside]
Money as Debt. Paul Grignon's 47-minute animated presentation of "Money as Debt" tells in very simple graphic terms what money is and how it is created.
The Economic Consequences of Mr. Bush. "The next president will have to deal with yet another crippling legacy of George W. Bush: the economy. A Nobel laureate, Joseph E. Stiglitz, sees a generation-long struggle to recoup." [Via Firedoglake.]
Is the high end Art market finally tanking? A week or so ago, it sure looked like it. An important van Gogh piece did not sell, Sotheby's stock price went into shock. However, all is well this week as both Christie's and Sotheby's kicked it into high gear and set some new records. [more inside]
As the Writer's Guild of America strike wears on into its second week, it seems appropriate to remember why they're striking in the first place. If you ask me, the terms seem almost too reasonable. But in the defense of the studios, I'm sure the businessmen involved have gotten used to spending those millions of dollars, and wouldn't want to see them go. Now that Broadway has shut down in allegiance to their Hollywood compatriots, things are looking grim for anything to be resolved without more financial bloodshed.
Do you know a young 20 something hipster who is too busy spending their parents money on beer, poorly fitting clothes and blogging about the newest band reinventing music from 20 years ago? Is their waiter/bartending existence causing you to worry about their long term investment habits? Do they need some fisical responsbility in their young lives? Well you're in luck my friend! Thrasher Funds now offers the first mutual fund targeted to hipsters. With holdings in Apple, Gucci, H&M, and Louis Vuitton, this fund not only has it's pulse on your young hipster's generation, it also dresses the way they want! Get in on it today! via
The total value of all your mines, mills, money bins, and so fourth is one multiplujillion, nine obsquatumatillion, six hundred and twenty-three dollars and sixty-two cents!
A miniature of Scrooge McDuck's money bin. (in the words of the model maker) This is a set of images documenting a model of the world's richest duck's money bin, built by me, using blueprints created by the great Don Rosa and Dan Shane.And remember Carl Barks - the mind behind the idea of a man storing all his money in a giant concrete bin.
What is the most important antipoverty program in the world? The surprising answer is remittances, the earnings sent from overseas workers back home - which, according to a new study, totals over $300 billion a year. There is an interactive map that shows you the impact per country: over 10% of the GDP of economies such as Morocco, Jordan, and the Philippines comes from these payments, which are often the largest source of investment for most developing countries. The New York Times has a neat feature showing how global migration and remittances are tied together.
Stephen Barnwell makes meticulous bills for fictional worlds, such as the Dream Dollars of a lost Antarctic colony, complete with symbolism and backstories. He has introduced several new, more politically controversial fictional currencies for less ideal worlds: the United States of Islam, the State of War, and the Empire of America. He is not the only artist who imagines currency, there are the beautiful notes of Kamberra and the strange work of JSG Boggs [prev] who hand-draws almost real bills that subvert the lines between money and art, occasionally running into issues with the Secret Service on the way. On the borders between reality and fantasy is the new currency developed by foreign exchange specialists Travelex, the Quasi Universal Intergalactic Denomination, introduced to solve some of the problems in money in space, and which may actually be used by space tourists. [prev.]
At a time when fed-up American citizens are petitioning Congress to end the imprudent financial practices that caused the
housing bubble sub-prime mortgage crisis liquidity crisis impending recession -- including the banning of SIV's and refusing any bailouts for Wall Street, banks, or mortgage companies -- the United States Treasury Department has just announced the creation of a giant-mega-ultra SIV called "M-LEC" made up of assets from several of the largest American banks. Already unofficially nicknamed "Sivie Mae" (or worse, "the Frankenstein Fund"), it would be an off-balance-sheet way for these banks to pool and price the ABCP's that they've lately been having trouble pricing and thus selling -- i.e. the liquidity crisis. [more inside]
I Can Get Your Kid into an Ivy. A look at the practices of college admission consultant Michele Hernandez, who boasts a 95% acceptance rate for fees of up to $40, 000.
Billions over Baghdad. "Between April 2003 and June 2004, $12 billion in U.S. currency—much of it belonging to the Iraqi people—was shipped from the Federal Reserve to Baghdad, where it was dispensed by the Coalition Provisional Authority. Some of the cash went to pay for projects and keep ministries afloat, but, incredibly, at least $9 billion has gone missing, unaccounted for, in a frenzy of mismanagement and greed. Following a trail that leads from a safe in one of Saddam's palaces to a house near San Diego, to a P.O. box in the Bahamas, the authors discover just how little anyone cared about how the money was handled."
Watch the K Foundation burn a million quid. Google Video link to the full documentary, skip to 13:30 for the "money shot". [more inside]
On Tuesday, the Federal Reserve cut interest rates by 0.5%. Wall Street aggressively demanded the cut to stop the sub-prime mortgage contagion from triggering a credit crisis among large US and foreign investment banks and the collapse of their over-leveraged hedge funds, which ultimately threatened to drag the US economy into recession. The market rallied this week in response to the Fed's move. But there is no free lunch. [more inside]
Parity - The Canadian Dollar is (almost) at equal value to the American Dollar for the first time since 1976.
Is there a link between donations given and bills passed? MAPLight.org aims to help you find out, giving you the ability to compare contributions with how legislators voted. [Via]
In Silicon Valley, Millionaires Who Don't Feel Rich [NYTimes Link] Mr. Kremen estimated his net worth at $10 million. That puts him firmly in the top half of 1 percent among Americans, according to wealth data from the Federal Reserve, but barely in the top echelons in affluent towns like Palo Alto, Menlo Park and Atherton. So he logs 60- to 80-hour workweeks because, he said, he does not think he has nearly enough money to ease up.
Australian art student Nicholas Manion has hit upon a clever idea: delicately cut paper currency forming the skyline of major cities. Via.
Online coin generator. Sure, it's in German, but you can figure it out.
Dear Friend, I am a Swiss Banker currently in possession of over $ 1 Billion in funds stashed away by the late dictator Mobutu Sese Seko of the Congo. Our Swiss Confederation President Micheline Calmy-Rey said her government is holding just $6.6m frozen in accounts. "We discussed the question of Mobutu's funds and my government is prepared to restore the money to the DR Congo as soon as possible," Ms Rey told reporters in the DR Congo capital, Kinshasa, after talks with Mr Kabila. But we can help you get the rest of the 92.4 million dollars if you will just send us your bank account number and call to confirm your ID and pin number.
The "same people who attacked us on 9/11"? It may be the very latest talking point from the Administration, but it's actually true--altho it's not Al Qaeda in Iraq, but Saudis. Although Bush administration officials have frequently lashed out at Syria and Iran, accusing it of helping insurgents and militias here, the largest number of foreign fighters and suicide bombers in Iraq come from a third neighbor, Saudi Arabia ... A historical note: 15 of the 19 hijackers on 9/11 were Saudis.
Banknote art by Justine Smith. Alternating currency: by Marshall Weber, portraits in money by Mark Wagner, a Ganesh out of Rupee notes by CK Wilde (a spectacular previously). Beautiful banknotes at the World Paper Money Image Gallery. Unusual coins. Unique banknotes, like the 100 Million Dinara note from Croatia. U.S. currency and the pictures behind the portraits. Mildenberg's Dream Collection of Greek Coins at the Money Museum.
"I'm all outta dollars, you got any Berkshares?" Several Great Barrington, Massachusetts businesses have developed a local currency to promote local business.
"I just like to have the hottest of the hottest. Whatever's hot at the time" In the spring of 2007, Lauren Greenfield conducted interviews with Los Angeles teenagers on the subject of money and how it affects their lives. The link is a 15-minute selection of those interviews.
Proof that artistic inspiration can come from any walk of life, Anthony White has turned his former life as a stockbroker into inspiration for a series of Stock Code paintings. Also available - paintings depicting different values of British, American, Australian, and Euro currency.[via ArtNews Blog]
Moneygami is origami made from U.S. currency; the subtle genius lies in the way the artist incorporates the prints on the dollar bills into the facial characteristics of the finished figures. More moneygami here. Via.
Make My Movie Online Be A Producer Help me raise the money to produce My Movie! For a minimal donation of only $2, YOU can receive a Producer`s Credit (PC) in the end credits of my film! Not only will you receive a credit, in exchange for your donation, you can also have a vote in some of the decisions such as casting, crewing and storyline! AND, not only that, but you also will have the opportunity to participate in the PROFITS of the film when we distribute the film.
Bling h2o is the invention of Hollywood producer Kevin G. Boyd. It;s water in a frosted glass bottle with a cork and emblazoned with Swarovski crystals. At $24 a 750ml bottle, it's targeted at the super-luxury market. Is water from Tennessee really worth that much? Apparently, for some celebs, it is: "A lot of times when you have some water, people are like, 'You're drinking water?' Instead, you say, 'Naw man, I'm blinging." -- Jamie Foxx
The Money Maker :"On the 1000 guilder note, it became a “sport” for me to put things in the notes that nobody wanted there! I was very proud to have my fingerprint in this note – and it’s my middle finger!"
Taxgirl is a tax lawyer who invites you to ask her offbeat and unique questions about federal taxation in the United States, as well as Philadelphia-specific tax questions. She also covers the fun side of taxation and the not-so-fun side of tax evasion, usually the domain of Posse Comitatus and white supremacist groups, but lately extending in bizarre ways to celebrities like Wesley Snipes and Ron Isley.
Marjoe Gortner, world's youngest preacher kicked off his religious career by performing a marriage at the age of four and a half. Although he eventually left the evangelism gig and became a hippie, lack of cash led him to take it up again part time as an adult. That is, until a crisis of conscience precipitated a documentary where he exposed the business of evangelical ministry. "Marjoe" won the 1972 Oscar for "Best Documentary" and has been recently re-released. An interview with Marjoe. You tubery inside.