_Goldfinger’s flat, hard stare didn’t flicker. He might not have heard Bon’s angry-gentleman’s outburst. The finely chiselled lips parted. He said, ‘Mr Bond, they have a saying in Chicago: “Once is happenstance. Twice is coincidence. The third time it’s enemy action.” Miami, Sandwich and now Geneva. I propose to wring the truth out of you.’ Goldfinger’s eyes slid slowly past Bond’s head. ‘Oddjob. The Pressure Room.’ _
Goldfinger, of course.
So, with that preamble and because James Bond is in the news and because we are talking bonds I thought a drawing of Jeff in tuxedo with Walther PPK is what was called for. He's surrounded by that classic Bond telescoping / vignette / camera lens swirl. Also, as bond prices are falling I was thinking of the classic financial-chart-red-arrows heading sideways-down like in the older Bond movies where blood seeped down over the telescoping / camera lens swirl intro scene. They can start out as seeping/oozing/liquidity but end in straight lines with arrows. Here's the rough draft concept art.
"Bonds, Treasury Bonds"
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Dear Subscribers,
There won't be any videos with your favorite prince of the (monetary) shadows this weekend. However, we will endeavor to knock them out in the first couple of days of the coming week.
Is the delay because of government action? Are we the target of an international conspiracy? Have the technological overlords struck us down? No; not yet at least.
The delay is due to the weather: two consecutive storms blew right through the Cayman Islands. Consequently, the power was out and I couldn't do my hair. I called Jeff in hysterics begging him to delay the shoot until Monday, when the salon will have power and Sasha and his team will be able to apply the berries, extracts and tomato sauce my locks (and viewers) deserve.
Besides, nothing happened this week. Wut? Taper? Huh?
Emil
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"The dogs bark, but the caravan goes on..." is a Arabic / Turkish / Persian / Indian phrase that captures perfectly the recent taper talk by governors and presidents of the Federal Reserve. "Recovery!" woof woof. "Robust!" bark bark. But the caravan? It CANNOT move on, in fact it is clearer with every passing week that the global economy as Bedouin camel train is entering quicksand. Yes, the dogs bark, but the caravan cannot go on.
The next David Parkins, best-in-class illustration is in the oven and will serve monetary satire pipping hot.
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This week's David Parkins' illustration is gunning for the Pulitzer Prize for Editorial Cartooning; below is a rough draft. It will show America's political leaders celebrating economic recovery a la "Mission Accomplished" in the form of a curtain call. So lots of bowing, curtsies, raised fists, clapping hands and a rain of roses onto the stage of an opera. Bravo! Bravo!
The stage setting is Götterdämmerung - The Twilight of the Gods - the last in Wagner's Ring cycle, where Valhalla is destroyed at the end.
Three ladies, three gentlemen.
69 - 5
This weekend's show was all about how the US Treasury bond market has been consistently proven correct regarding the state and direction of the global economy since 2007 (and much earlier) despite protests to the contrary that it is 'broken' or 'manipulated' or 'mistaken' et cetera. These protests come from the mainstream media, orthodox economists and monetary technocrats.
Here was my request to LEGENDARY, PROFESSIONAL GENTLEMAN OF THE EASLE David Parkins:
• The image that came to mind was that of a Zeus-/ Adonis-/ David-like being looking confidently out and up into the future.
• Perhaps a ray of light shining down on him? Or emanating out from behind him? The bond market is not infallible but it wouldn't be unfair to call it a demi-god; Hercules let's say.
• Somewhere on his clothes or sash or belt or strap or crown would be "Bond Market".
• Then around him would be a gaggle of mortals - I am imagining the bedraggled men and women from The Life of Brian - kvetching "I'm not impressed", "His sandals are dirty", "Could use a haircut"
• Somewhere on the clothes / sash / belt / shoes / et cetera would be "media" and "economists" and "technocrats".
90 - 12
How to capture the notion of our modern central banks transitioning from Walter Bagheot Central Banks to Markets of Last Resort central banks? I reached out to the only person capable of capturing such a notion with pen and paper. The man that has illustrated countless The Economist covers, David Parkins. Here was my request and here is how it turned out!
*Panel A
*
Walter Bagehot (the father of central banking) in a late-19th century general store / emporium aisle.
He is balancing on one foot, having caught a falling jar with his other.
In both hands he's also caught jars / cans / sacks / crates / boxes (whatever you think is best).
His face shows effort, concentration, intent, seriousness but not fear or trouble (just like his most famous pose, I suppose).
At the bottom / top (wherever is best) is a title: " Walter Bagehot, central banker, lender of last resort"
*Panel B*
Jay Powell in a grocery store aisle.
He is standing proudly with great satisfaction at the foot of an unholy mess of cans, jars, bottles, boxes, et cetera.
The shelves still have a collection of stocked staples because not everything collapsed (hence the grin on Mr. Powell).
Powell is dressed as a janitor with the broom / mop, a bucket, the Laverne & Shirley-style bandana on the head, et cetera.
At the bottom / top (whenever is best) is a title: "Jay Powel, janitor, market of last resort"
59 - 2
I recently participated in a Environment Social Governance conference in which I was asked to explain how #silver can help the environment. There are many ways in which silver does so. Still, some people may not find that terribly interesting if it was presented... professionally.
So here's a link to LinkedIn (bit.ly/2RWTpv8) where I explain silver's environmental role in a more entertaining (?) fashion while touching on all the usual fare:
• Solar Panels
• psychiatric prison hospitals
• Electric Vehicles
• tachyon grenades
• Nuclear Power
• Collapsar 1A 0620-00
17 - 8
How then to illustrate our latest interview? What will legendary British illustrator dream up to capture the interview of our favorite University of the West of England professor?
The image that keeps coming to mind is of Carolyn holding the scales of justice in one hand and an abacus in the other. I am envisioning her teaching Jeff and I with both of us sitting at a bench. We are scribbling notes and/or raising our hands. Just a classy educational setting where she is teaching and we are listening.
30 - 7
The theme of this weekend's episodes is the constrained balance sheet, the circumscribed balance sheet capacity of Money / Securities Dealers (i.e. banks). How to convey that idea with an image? I thought I would ask David Parkins about a "forced diet". Perhaps a corset? I couldn't figure out how to tie it all together. So, instead to the kitchen with a chef in a straight jacket.
A chef in a kitchen with the pots boiling, the pans sizzling, the mixer whirring, the dough rising, the oven open - a very busy kitchen (i.e. the world economy). And the chef, surrounded by it all, would be in a straight jacket. The chef's hat would read "Banks". The arm loops would have "risk" and "uncertainty" written on them. Off to the side could be waiters Lagarde, Powell and Kuroda. Lagarde: Why isn't Chef serving up credit? Powell: Yeah, his pantry is fully reserved! Kuroda: What if we lower the temperature below zero?
I'm not sure if the banker's face should be one of concern at the state of the kitchen or disbelief at the inanity of the central banker's suggestions
42 - 4
Having a hard time this weekend coming up with a David Parkins' illustration. I went with the idea of multiplication, rehypothecation, cloning, repleding, repurposing, reusing security collateral. Perhaps a magician pulling hundreds of rabbits out of his / her hat (but is it the same rabbit?) Also, thought about a funhouse mirror with a US Treasury Security.
Right now going with the idea of Dolly the Sheep being cloned by bankers. Except it's not cloned, it is just mirrors reflecting the same sheep's image.
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Helping you understand how the 2007 malfunction of the monetary system - and its continuing disorder - affects finance, economy, politics and society.
10 October 2011