Wall Street Issues Zero Dollar Bill

[RebelMan]

Artist prints `Zero Dollar' in dig at Wall Street

Tue Oct 7, 1:18 PM ET

NEW YORK - With the financial meltdown leaving many Americans wondering what a dollar is worth, one New York City artist has an answer — zero.

Painter and printmaker Laura Gilbert is passing out signed and numbered prints of the "Zero Dollar," which looks like a dollar bill except it has zeros in place of ones.

Gilbert will be distributing 10,000 of the fake greenbacks in front of the New York Stock Exchange on Tuesday to call attention to the economic crisis gripping the nation. She says the artwork is meant to be a statement about "the destructive role of many financial institutions, inflation, and the decline of U.S. currency to the point of seeming worthlessness."

[Moshe..]

Don’t expect much more of a devaluation in the currency. You have to index the present cheapness of the dollar on its long run trend curve where it sits right at the bottom of a seven year down cycle. Not much left in it. Credit, and thus the backing for capital inflows which normally offset current account deficits, had evaporated by last autumn, and most of that devaluation effect should have followed through already.

THe pound has a long way to go. Of course britain is the purest play on financial markets. THe euro has peaked at record levels, and now enters the downcycle. If you have assets in euros or swiss accounts (which they've recently started taxing after much pressure from brussels), then now would be a wonderful time to cash them into dollars or sterling. THis simple currency observation is how keynes built up his art collections. Merely waited for the franc to bottom out and held the galleries to ransom.

[Moshe..]

I am nostradamus. The time for exchanging into the dollar has passed. Sterling still has a way to fall, probably throughout next year. The pound is truly a joke currency. It's the nicest opportunity for decades, but maybe one should wait another six months: cashing euro or swiss bank accounts into sterling accounts shall thus entail a ridiculous profit

[Jim Halpert]

I have a bunch of American silver coins, too. One looks like a giant quarter.