Wednesday, June 11, 2014

Waiting For Money

This golden cylinder on Graben is a temporary installation by Austrian artist Axel Stockburger - "Quantitative Easing (for the street)". With this art project Stockburger wants to point out the financial and banking crisis. "Quantitative easing" is a strategy in an extreme crisis of confidence in which banks restrict their function as lenders and become barriers within their own ecosystem. In order to prevent a collapse of the money circuit, central banks buy financial assets at the public expense and thus introduce new money into the ailing financial system. The golden cylinder represents the “central bank,” which randomly distributes euro coins in the street. When I passed by yesterday evening unfortunately the cylinder didn't distribute any money, there were only these three men watching and waiting...

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