Dollar ReDe$ign Project

The Almighty Dollar : Mapping Income by Religious Belief (Good)

via awesome.good.is

 

Our Great Rivals : A Bunch of BRICs : Time to Rebrand the Buck!

When it comes to rebranding the US Dollar we feel we can easily beat the competition, especially when you consider the BRICs we’re up against: the Brazilian Real, the Russian Ruble, the Indian Rupee and the Chinese Yuan – it’s an easy win as far as we’re concerned. However, if we all just sit on our hands and do nothing, and keep coming up with lame excuses, eventually someone is going to beat US down.

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Selling Out : Are We Victims of Economic Over Exposure?

Too Much Money Talk. A recent article in the Ukrainian Newsweek magazine – "Vlast Deneg" – suggests that our global financial crisis has moved away from being an economic issue towards a brand issue, which they feel can actually sell anything. However, the article also suggests that once we loose interest in the credit crunch and our mass media moves on to a new topic, the economy might actually get better. An oxymoron of sorts but perhaps they’re right. All this talk of doom and gloom, credit crisis and financial failure doesn't really get us any closer to economic recovery, it's all just talk. Real economic recovery will only happen when we all feel the need to start shopping and buying various goods and services again, until then the global financial crisis will remain a hot topic for everyone. The article also featured some of our Dollar ReDe$ign submissions to illustrate their point. Is that David Bowie shining shoes? (RS)

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The Color of Money : The Billion Dollar Gram

Data visualized: how 'our' money has been spent, in technicolor via informationisbeautiful.net

The US Dollar Has An Image Problem

Watch Harvard Professor Niall Ferguson's PBS Series 'The Ascent of Money'

AdBusters : Economic Thought Control : Dollar ReDe$ign Featured

Our good friend Derek O’Connor’s ‘I’m Lovin’ It’ Dollar ReDe$ign submission has found its way into issue #85 of AdBusters, the Canadian ‘Journal of the Mental Environment.’ Labeled as an activists toolkit to help us go ‘Beyond the Growth Paradigm,’ the ‘Thought Control in Economics’ issue tackles the global financial meltdown head on and points some accusing fingers at the economic establishment. Visit http://www.AdBusters.org to read more and to also learn how you too can be proactive in your fight against the mainstream. (RS)

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Treasury Dept: Vending Machines Stand in the Way of Economic Recovery

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THE SOLUTION TO OUR GLOBAL FINANCIAL CRISIS PALES INTO INSIGNIFICANCE

 In a letter we received over this last weekend, a spokesperson for the Treasury Department of the United States Bureau of Engraving and Printing said that, ‘the cost of reprogramming vending machines would be astronomically expensive and would also put many small manufacturers out of business,’ and therefore, it will not be possible to redesign the currency of the United States ‘at this time.’ Thank you.

However, according to a spokesperson for the National Automatic Merchandising Association (NAMA) ‘their members have had to make changes such as this in the past,’ for instance ‘when the Treasury revised the $5 bill.’ They also said that the cost to reprogram a machine is relatively small, approximately $500, or less, in their estimation – it’s not loose change, sure, but it’s not ‘astronomically’ expensive or financially crippling. As the NAMA spokesperson said, ‘these kind of changes would in fact be a cost that each vending machine owner could in theory write-off.’

‘The government’s bailout of Wall Street is estimated to cost approximately $23.7 trillion.’ – Neil Barofsky, special inspector-general for TARP – ABC News

Regarding design, the Bureau said, unfortunately ‘aesthetic consideration’ is also not placed high on their agenda. Counterfeiting, security and worldwide familiarity ‘with a universally recognized’ bank note is actually their prime concern. In addition, advances in technology and reprographic techniques are also very important, as they should be. But printing processes and security devices are really just technical details, that are very important yes, and should definitely be part of any redesign for sure, but they do not answer the real issue which is that the Dollar’s brand ‘image’ has been broken and the world at large no longer believes in our stability. It doesn’t matter how many bells and whistles you throw at the manufacturing of our currency, if you don’t fix the brand then you’re simply wasting your time.

‘The existing set of reserve currencies, including the US Dollar, have failed to perform their functions.’ – Russian President, Dmitry Medvedev – CNN Money

CLEARLY THEY’RE MISSING THE POINT.

When our campaign actually comes to fruition, everyone in the world will know about ‘our’ story: a ‘US initiative to redesign the Dollar currency as a means of stimulating our global economy’ – it would be on CNN, the BBC, it would be everywhere. Simply consider the global media frenzy over Michael Jackson. In the same way, it would be a story on every front page of every newspaper and every magazine cover for months and months, all around the world. It would be the biggest news story ever. It would simply be a story that would literally sell itself.

‘In 2002, the 4.4% jump in the Euro’s reserve currency status was the direct result of the introduction of Euro banknotes and coins in the same year and of increased international public awareness.’ – Wikipedia

Yes, of course it’s not just about the design. Of course security and public recognition are important, but the premise of our campaign has always been to ‘rebrand, rebuild and revive our country’ and to bring it back off its knees and give everyone a chance of hope and prosperity again. Really, these arguments against redesigning the US currency, in our opinion seem somewhat absurd. They are not insignificant by any means, but when you consider the bigger picture – stimulating the economy and rebuilding our country – these ‘issues’ could very easily be overcome. We figured out segregation, we put a man on the moon, we even put the first African American President in the White House. So why is rebranding and redesigning the US Dollar such a big deal?

THE BIGGER PICTURE – NO LONGER #1.

Towards a New Reserve Currency?

According to many global economists ‘the possibility of the Euro becoming the first international reserve currency’ is quickly becoming a reality. In September 2007, former Federal Reserve Chairman, Alan Greenspan, said ‘it is absolutely conceivable that the Euro will replace the Dollar as a reserve currency’ in the years to come. With more than €751 billion (Euros) in circulation, the Euro has become the currency with the highest combined value of cash in circulation in the world, surpassing the US Dollar.

‘Since its introduction, the Euro has become the second most widely held international reserve currency.’ – Wikipedia

No More Bad Debts Please.

In May, 2009, Russian news agency Pravda announced that Russia had ‘dumped’ the US Dollar as a basic reserve currency, thus loosing its status of basic reserve currency for the Russian Central Bank. In the New York Times, in March, ‘in another indication that China is growing increasingly concerned about holding huge Dollar reserves, the head of its central bank has called for the eventual creation of a new international currency reserve to replace the Dollar. Zhou Xiaochuan, governor of the People’s Bank of China, said a new system is necessary because the global economic crisis has revealed the “inherent vulnerabilities and systemic risks in the existing international monetary system”.’

‘Through its proposal, China was indicating that the Dollar’s long dominance was unfair, allowing the United States to run huge deficits by borrowing from abroad, and that the risks to holders of Treasuries were growing.’ – Nicholas Lardy, an economist and China specialist at the Peterson Institute in Washington – New York Times

SEEKING ‘RADICAL’ IDEAS, AGAIN

The Call to Action.

‘In FDR’s day, the notion that the US government could step into the economic fray of a depressed economy and provide what was hoped to be a far-reaching impact was something this country had never experienced. It was not only controversial it was radical even. Such a move by the government to take a deep, hands-on action to help turn the nation’s sinking economy around was unprecedented.’ – Dr Kristine McCusker, Associate Professor of History, TSU – Suite101.com

Request for Proposal.

‘Our client is looking for a way to pull them out of the gutter and put them back on the global map. Over the last few years, previous administrations and misguided worldwide initiatives have led to a break down of our client’s brand values and global stature. The result? Virtual bankruptcy, economic failure, social unhappiness, and quiet dissatisfaction: need we say anymore.’ – Chief Brand Strategy Officer and Special Advisor to the ‘Person in Charge.’

What Needs to be Done.

- Rebrand our broken vision. 

- Rebuild everyone’s livelihood. 

- Revive our failed economy. 

AND FINALLY

So is $500 really a lot of money? Yes, there are around 7 million vending machines in the US (Vending Times magazine), but when you consider the cost of the government’s bailout in comparison, isn’t $500 for each vending machine manufacturer actually a rather small sum? Yes, we are facing a global economic crisis, yes $500 IS a considerable amount of money to many people, but we also have to consider the global shortsightedness of such claims.

ADDENDUM

When the Boot is on the Other Foot.

On March 13, 2008, the revised $5 bill was introduced. In a report online by the Daily News, Dawn Haley, Chief of the Office of External Relations for the Treasury's Bureau of Engraving and Printing, is quoted as saying:

'Any business that operates machines that accept $5 bills should contact the machines' manufacturers and ensure they get adjusted to accept the new design.'

End of story.

Money Matters : You Gotta Spend $ome in Order to Get $ome ...

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Hindsight is 20/20

Historically economics, or the economy, really only works if you actually buy stuff. But if everyone continues to hold on to their hard earned cash and never spend it – as consumers are doing right now – nobody (consumer or business) benefits: because like they say, 'money makes the world go world.' With this in mind, YumaSun.com, Arizona's online daily newspaper, has devised a fun, local economic stimulus plan which encourages local residents to spend $20 (on July 20th) on local goods or services that they wouldn't have otherwise.

Sun Staff writer, Stephanie A Wilken, also takes us through an interesting history of the $20 bill in her column online (http://tinyurl.com/m8ybgf). Some of the facts she digs up include some bazaar details such as 'reports of a $20 bill burning when microwaved, and that the burns are all in the same place: over one of Andrew Jackson's eye.' However, ‘Jackson did not appear on the $20 bill until 1928.’ Also, Wilken writes, 'the first $20 bill didn't appear until 1861 as the United States struggled to raise money to fight the Civil War. The new $20 notes replaced the $20 piece, which, along with all other federal coinage, disappeared from circulation as people hoarded their money during the war.' Apparently, 'the $20 bill has also undergone many changes in security in an attempt to help make it harder to counterfeit.’ And ‘according to the U.S. Bureau of Engraving and Printing, the $20 bill was the first to be redesigned in the Series 2004 currency.' Really? Redesigned? Or just patched up ... anyway.

In conclusion, Wilken says, 'the $20 bill has had a long journey to the bill used today and will most likely go through more changes in the future.' Interesting (wonder if she's heard about our cause?) ... Some other random '20' facts Wilken discovered include: that 'the number 20 may also be referred to as a score,  as in Lincoln's famous Gettysburg Address – 20/20 indicates normal vision at 20 feet – 20 is the atomic number of calcium – Interstate 20 runs from Texas to South Carolina – and 10-20 is a radio term used to denote location, as in, what's your 20?' All fun stuff. Regardless the most important aspect of the Sun's campaign is that it 'encourages residents in Yuma County to spend $20 on July 20th to help jump-start the local economy,' something we should all consider. Read more here ... http://tinyurl.com/m8ybgf

Socialized Currency : The Ultimate Financial Revolution?

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POWER TO THE PEOPLE OF AMERICA!
How to Make Money During a Recession.

First, decide on a name for your currency. Hours, Shares, Bread or Spuds for instance. Then decide on a ‘motto’ or slogan to stand by, such as ‘In Each Other We Trust’. Then get some local artists to put forward ideas and thoughts on what imagery and iconography to use (something specific to your region is always good). Then engage friends, family and everyone in your immediate locality (local businesses too) to buy into your idea. And finally convince them (and everyone else) to use ‘your’ money everywhere (because it will be financially beneficial to them). And hey-presto: you have a self-sustaining economy, you have cash flow and you have some money in your pocket at long last.

  Imagine, it would be like having a license to literally print your own money, legally (as long as ‘Uncle Sam’ gets his share). Plus you’ll have a say in its value to you, and also be able to control its intrinsic value too, because it’s essentially ‘your’ money. Plus, you decide what it’s worth to others, and, what it can buy – basically cutting out the (middle) ‘man’ and placing the power of exchange back in the hands of the people who really create wealth: citizen you.

  But, wait. Hang on a second. Have we not been here before? Sure ‘community currencies’ (or local currencies) are not a new idea, but in recent years their relevance (and use) has risen to the surface again.

  Susan Witt, the co-founder of BerkShares, has been consulting with officials from Newark, New Jersey, and nonprofit groups in New Orleans, Louisiana, and Alaska on how to start local currencies. "The trouble in our global financial system has people very concerned," says Witt. "They don't know how to fix it. It seems out of their control. The concept of a citizen group taking responsibility for its own regional economy and finding a way to issue a medium for exchange in its own area is such a powerful image." (Source: CNN.com)

  In fact, community currencies sprung up in America during the ‘Great Depression’ for similar reasons they are becoming more popular again today. It’s like America is returning to its fragmented beginnings to find a new economical way forward. It’s as if the people this recession is affecting the most will actually be the ones who take our country out of the mess that we’re in. It’s like a financial revolution and like all revolutions it’s being led by people power.

  People throughout America are waking up to the fact that ‘Uncle Sam ain’t gonna help me so I’m gonna have to help myself!’ (plus Uncle Sam is bankrupt, so …) But as manufacturing businesses and factories close throughout the land, people everywhere are turning towards beginning their own localized ‘cottage’ industries: ‘Grand Ma’s cookies sure taste good, she should sell them!’ Sound familiar?

  And as every economist and every financial institution (that’s left) has an opinion on what got us into this state, and the more we sink deeper into depression the more likely it will be that when we do finally hit rock bottom, it will be the individuals who took it upon themselves to find a solution to all our wows who will be the ones that will succeed and prosper and become the new corporations and conglomerates like Ford and every other American powerhouse did before them. Because America was built on the premise that anything is possible. Therefore, this current financial crisis can only lead, eventually, to a better future for us all. That’s if we can drag ourselves away from celebrity obsessionism, reality TV and materialistic consumerism for a moment.

  So if socialized money is OK, what's wrong with socialized healthcare?