Faith In Fiat

In their latest work, Faith in Fiat, Maslen & Mehra have constructed a shrine to currency.

“Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity”. (Fiat is Latin for “let it become”) *
The value of money is derived from the relationship between supply and demand, rather than the value of the material that the money is made of.
 Fiat money is effectively a storage material for purchasing power and a substitute for barter and no longer redeemable
against its equivalent commodity such as gold. The Fiat or global monetary system sees markets and central banks value
the worth of the currency based on perception of a country’s governance, the economy and their effect on interest rates. * Quoted Investopedia

Fiat money is no more than a promise. Is it sustainable to have such blind faith? History suggests not. 
The boom and bust cycle is nothing new and despite the 2008 global financial crisis, the cycle appears set to continue. 

Faith In Fiat also brings to mind our slavish devotion to money today: money for money’s sake, materialism, and consumerism. 


Faith In Fiat
Bespoke trompe l'oeil marble shrine, ink and gouache currency drawings in recycled frames, faux flowers and vase collection, LED church candles. 

Israeli Shekel