Just a thought – probably a random one.
* set up a “debt buying currency” – debtgold (DG) or something like that.
* each entity/person investing in this DG agrees that, like any art-linked objects, the material costs less than the selling price. ie to buy DG = 0.0000001 pound, but selling in the exchange market is 1 DG for 1,000,000 pounds.
* each person/entity investing in DG has to agree that the sales of DG will be used to buy and forfeit debt.
Problems?
Sure!
HUH?
Rules are problems.
Which ones? Surely, sometimes elements do not operate by their own volition and as such might require rules?
Hummm.. Maybe sometimes.
The other thing is that the idea is very functional!! Like a tool! I find it boring. A bit like propaganda.
Well.. There is always the chance it will not work. What if exchange markets refuse to buy a DG for an uber inflated price despite it being very valuable according to market-logic due to a large amount of users?
Exactly my point! If it doesn’t “work”, we get a different process which “shows” how the market, its logic and other operations geared for profit are in fact exploitative.
Surely, that will be good to show?
As a leftist propaganda, perhaps. But then its very limited, and not very art..
Who gives a boomboom a bout “art”?? If we can help people out of debt – surely it more important? Artistic or not!)
I don’t know about importance. Not really. I think its subjective at worst and an interesting topic to converse at best. However, I know am not interested to spend time and efforts in functional operations and sequences. It seems for me that if there is an artistic practice, or artistic practices – i’d like to connect with that.
If there are these art practices which you know not of, then how do you know a DG isn’t?
I don’t know but suspect it has something to do with the Then. You said if – then. I said if art practices – the suspicion is just the if..
http://www.investopedia.com/university/ratios/debt/ratio2.asp
http://www.theguardian.com/world/shortcuts/2013/nov/13/can-i-buy-debt-like-occupy-wall-street
https://consumerist.com/2013/01/30/8-things-we-learned-from-ftc-report-on-debt-buyers/
One reply on “lets buy debt art?”
lets buy debt art? http://itchy.5p.lt/lets-buy-debt-art/