Assorted links

1. John Gray and many others try to redesign the banknotes, slide through the show.  Some are quite good.  Here is the one from Audrey Niffenegger.

2. More on the euro carry trade, note I am not an optimist on this, I simply note it is a plan of sorts.  Via Interfluidity, here is lots on financial repression, important read.

3. Zizek on Coriolanus, and my 2006 blog post on the individual mandate.

4. “There are even allegations that the Ukrainian justice minister’s official car was illegally appropriated in Germany…A number of years ago, the Ukrainian government decreed that the state could sell confiscated cars that were stolen in other countries or add them to its motor pool. This even applies when the vehicles are on an Interpol list. In other words, Justice Minister Lavrynovych wouldn’t even be violating Ukrainian laws by driving a car that was stolen in Germany.”  Story here.

5. Tumbleweed markets in everything.

Comments

The money isn't even funny.

It isn't funny per se, but it is funny if you've read that New Yorker profile of Naomi Klein that describes how she is texting on an iPhone, chugging either high-priced lattes or energy drinks, and watching CNN on a big plasma screen television at a friends place, and then a few paragraphs down rhapsodizes about how awesome Argentina was because everybody was out on street-corners discussing economics...presumably because they couldn't afford iPhones, energy drinks, or basic cable...

Now, that's funny!

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fun fact: the tumbleweed is not native to North America

Mentioned in the article:

The Prairie Tumbleweed, often called the Russian thistle, was introduced into the United States in the last century hitchhiking in imported grains from Russia.

I didn't realize America imported grain from Russia. Did the Russians have enough to feed themselves? I don't see a comparative advantage.

You don't see a comparative advantage in a country with vast tracks of land to produce grain?

Are you talking about the U.S.?

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Maybe the grains were intended as seed grain for the cold northern plains, whose climate resembles that of the Russian steppe.

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Never heard of "turkey red wheat"? Or, "winter wheat" in general?

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#4: To a thief moving a stolen car to ukraine, how does it matter if the government returns a confiscated car to Germany or retains it itself? I can't see how this would incentivize international theft. Shouldn't this raise the chances of a thief getting caught?

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I thought some of the fake banknotes were excellent. Some of them grasp at the idea that money should represent a claim on actual, non-monetary resources. So it come across as a joke. My favorite was #10.

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On the Euro situation, note that it works better when the banks are essentially bust or will be if the sovereign defaults. So banks buy debt, finance at ECB, govt recapitalises banks with money raised from bonds bought by banks - rinse and repeat.

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For your consideration: "Evidence of market manipulation in the financial crisis" http://arxiv.org/abs/1112.3095

November 2007, really?

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There are 18 money slides. Yes, some are lame, but some are amusing. I like the idea of currency issued by a sperm bank -- might not be any more F* than the euro.

And who wouldn't have confidence in a Mr. Micawber bill?

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How about do it yourself money? The government issues blank paper containing a RFID chip which conveys the value as well as foiling most counterfeiters. You can then decorate it any way you want. Get some blanks when you withdraw money at the ATM and imprint anything you want on them!

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