Sunday, April 12, 2009

money, money, everywhere, and all the banks did shrink; money, money, everywhere, nor any coins to clink.

jean baudrillard on debt:
when a debt becomes too cumbersome, then, it is banished to a virtual space where it resembles a deep-frozen catastrophe in orbit. debt becomes a satellite of earth, just like war, and just like billions of dollars' worth of floating capital now conglomerated into a satellite tirelessly circling us. and surely this is for the best. just so long as such satellites keep circulating--and even if they explode out in space--the world is not affected by them, which is the best possible outcome. for the suggestion that the imaginary economy and the real one might one day be reconciled is a utopian one: those billions of floating dollars are untranslatable into real economic terms--and that is just as well, because if,
per mirabile, they could be reinjected into productive economies, the result, for once, would be a true catastrophe.

h.l. mencken on money:
the chief value of money lies in the fact that one lives in a world in which it is overestimated.

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