DesideriScuri
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Joined: 1/18/2012
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ORIGINAL: joether
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ORIGINAL: DesideriScuri
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ORIGINAL: KYsissy
A little off topic but related to currency. There is an artist who draws his own money and then goes out and spendsbit.
The only way this works is if the seller believes his money to have a value equal to the goods being purchased. Imagine you own
A store and this scruffy looking guy comes in with a hand drawn piece of paper that somewhat looks like a formbof currency.
Would you exchange a shirt and a pants for it?
Oddly enough, this guy has quite a following and some of his "money" is in the Smithsonian, or some other well known museum.
After he spends his money, he posts online where and when he spent it and collectors race to the store to scoop it up.
Any shopkeeper who takes a chance and accepts it, will make a nice chunk of change.
I guess his point is that money has value only because we all believe it to have value.
Google Bogg's bills if you want to know more
"Eventually Boggs was acquitted. His lawyers persuaded the jury that even “a moron in a hurry” would never mistake his drawings for pounds sterling. In truth, the threat posed by his art had nothing to do with counterfeiting. If the Bank of England had reason to be anxious, it was because people knowingly accepted Boggs bills in lieu of banknotes"
http://www.forbes.com/sites/jonathonkeats/2013/01/18/j-s-g-boggs-counterfeit-money-is-worth-more-than-the-real-thing-are-you-buying-it-book-excerpt-2/
That is funny, actually! Thanks for posting it.
Essentially what the shopkeepers are doing is bartering, or, perhaps, investing. That might make for an interesting tax report, though (depending on where this action takes place and the local taxing laws).
From a business perspective the accountant would tell you its a 'curiosity'. Bartering implies both sides are getting a fair trade for un-like goods (which has never been an accurate science or art). If the shop manager accepted the 'currency' they might know of the artist and what usually happens when some 'spending' is taking place; this could be considered an investment if other people come to barter for the 'currency' with real green backs. If the shopkeeper is unaware of the artist, they will usually say 'no deal'. Most non-managers that accept money from this artist without approval from their manager prior to the 'transaction' will generally be fired.
But the artwork is pretty neat!
1. No one is forcing the shopkeeper to take the artwork in trade, so there has to be some acceptance of fairness by both parties.
2. A shopkeeper that knows the "typical" rush for others to buy the art from the shop (with real greenbacks), that would be investing.
3. Without approval, the non-managers that accept the artwork in lieu of actual payment should be fired, if that's within the employment agreement's terms and conditions.
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What I support:
- A Conservative interpretation of the US Constitution
- Personal Responsibility
- Help for the truly needy
- Limited Government
- Consumption Tax (non-profit charities and food exempt)
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RE: "We did raise taxes on some things" - 
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