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An attempt to present the Global Financial Crisis in artist’s language using authentic US-Dollar Bills, the Chinese Renminbi, shredded Euro Banknotes and Gold Leafs.
Triptych published in February 2009 on http://www.worldpaintings.de/en

United States of America: Fact is that the financial crisis began due to the real estate bubble in the United States of America that spread through the world. The American Central Bank, Federal Reserve (FED), founded 1913 by private bankers in order to form a cartel to make “money from nothing” and to lend it for an interest rate, serves the U.S. government with new money, so that they can impose their monetary policy. Barack Obama has secured from Congress a national economic stimulus package worth 798 billion US dollars, to prevent Americans falling into poverty. Some senators have been warning about hyperinflation in advance. Despite all the warnings, the chairman of the FED, Ben Bernanke, announced that money would be dropped out of a helicopter, if needed – which gave him the nickname “Helicopter-Ben”.

In order to stabilize the dollar, the FED intends to corner the market of government securities as a large amount of America’s papers are in the hands of foreign investors. China alone holds 682 billion US dollars of American government securities. If those foreign investors would sell their US government bonds, the dollar would crash and all other currencies would be swept along. Nobel prize laureate Paul Krugman: “The United States of America risk to fall down in a deep economic crisis. We are on the verge of a catastrophe!”

The White House is not only recipient of the newly printed money of the FED, it also follows its policy (see printed words “Novus Ordo Seclorum” on the back of the one-dollar bill). The organ pipes symbolize the American policy where the White House plays music for the whole world to dance.

European Monetary Union: At the time of euro adoption the European Union had 12 member states; by now 15 more states have joined. Brussels has given to all new countries billions of Euros to enable them to restructure their budgets and improve their infrastructures. Many countries facilitated the granting and expansion of money by reducing the interest rate. This has encouraged many citizens to borrow more money for wealth generation. The balance sheet of European banks has 18.1 trillion of bad debt. This would mean that 44% of the assets of European banks are absolutely unsalable due to lack of securities. Bear and bull watch helplessly as the euro is being “burnt”.

Great Britain: The global financial crisis also affected Great Britain. As in the US, it is the real estate bubbles that lead to freezing of credits service. The Bank of England is only a facade. Many are unemployed. The Chancellor of the Exchequer under Prime Minister Tony Blair, Gordon Brown, sold a few years ago half of the British gold reserves to the lowest price. Meanwhile, the value of Pound Sterling has dropped almost to the level of the Euro.

The bear standing in the phone booth symbolizes by lack of confidence in the financial sector and increasing social coldness. According to a report by the CIA, major European cities will face civil unrest – including London. The fate of the unsinkable Titanic is known to all.

State of issue and publication of the oil painting: February 2009

Duration : 0:3:31

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