« CBOT Fed Watch | Main | Innovation »

Thursday, December 08, 2005

Money as Art

A good medium of exchange must satisfy several principles. It must be easy to standardize and to verify its value, it must be widely accepted, easy to carry, storable and durable, divisible, and supply should be controllable. This Swiss currency redesign proposal may come up short on the "widely accepted" principle:

Swiss distressed over currency redesign, Bloomberg News:  The Swiss are in an uproar over the possibility that their new money may feature images of embryos and blood cells. The proposed designs are "horrible, horrible, horrible," said Verena Graf, a retired bank archivist ... "I would rather keep the old ones with the people on them." The designs ... won a central bank competition last month. ... "The banknote is Switzerland's calling card," Jean-Christophe Ammann, 66, the former director of the Frankfurt Museum of Modern Art, who headed the jury, ... " The jury's choice, however, has not necessarily been the people's. The Neue Zürcher Zeitung, a newspaper that is required reading for any Swiss banker, said ... the new design lacked a sense of the "eroticism of money." ... Although the jury preferred Krebs's designs, it is not certain they will be used, The last time the bank decided on a new look for banknotes, in 1991, it chose the third-place design. ... "In theory, the notes should be Swiss, but the problem is that if there aren't people on them, what are we going to put on there - mountains and cheese?" said Thomas Bruehwiler, a Zurich- based computer programmer. ... The design for the new 10-franc note shows a planet on the front whose shape is mirrored by blood cells depicted on the back. The 100-franc note shows an embryo on the front and a map of the continents on its back, with a watermark in the shape of a brain. "In Switzerland, money has a special status," Ammann said. It is "a numbered, signed piece of graphic art." ...

    Posted by on Thursday, December 8, 2005 at 12:06 AM in Economics, Financial System | Permalink  TrackBack (1)  Comments (2)


    TrackBack URL for this entry:

    Listed below are links to weblogs that reference Money as Art:

    » home furnishings from candles, linen, bath

    [Read More]

    Tracked on Tuesday, December 27, 2005 at 08:40 AM


    Feed You can follow this conversation by subscribing to the comment feed for this post.