The Exchanghibition Bank Opens
Branch and Minds
AMSTERDAM, June 20, 2011 - The Exchanghibition Bank (exchanghibitionbank.com/) brought its art of turning art into money at its kiosk in the Magna Plaza and the Brakke Grond from June 16-19, 2011. CEO and Founder Dadara along with the Financial Department representatives Messrs. Sommerdijk, Weeber and Sultan were on hand to exchange ideas about money, art and to exchange art for money.
Visitors to the Bank did not really seem to understand at first the mix of physical art and performance art as they spoke with Bank staff. Bank personnel reported a moment you could see an understanding come into eyes of most Bank patrons when you see the penny drop and people understood that this was an art project to which they could contribute. Some chose to rid themselves of dirty currency in exchange for the Bank's Zero, One Million and Infinite Bank Notes. Bank personnel reported receiving mostly euros but also being offered currencies from the UK, USA, the Kingdom of Bahrain, Saudi Arabia and Kuwait in exchange for the Notes.
The Exchanghibition Bank's ongoing business model turns art into money, and the money collected into more art. It provides an outlet for the public to have a dialogue about the value of art and money in a way other than the latest published exchange rates or auction prices. The Bank has also been able to partner with local promoters to allow persons who are willing to "spend their art" by using Exchanghibition Notes for admittance to sold out events. It is intended to evolve based on lessons learned, public feedback and collaborative discussion. The project is slated to continue until at least 2012.
The Bank's Infinite Note was unveiled in a ceremony attended by Black Rock City LLC Board Members Larry Harvey and Marian Goodell where Harvey received the first Infinite Note. Read more at:
Some bank customers reported a sense of cleansing on purchasing the Bank Notes. Others were euphoric millionaires. Bank personnel pointed out that the uniquely numbered Bank Notes have a purity about them and have not been used to purchase weapons or foment ill will. One customer reported that he would try to buy a weapon with the Bank Notes.
Dadara seemed most impressed with someone who chose to tear up a 20 euro note rather than exchange it for the Bank Notes. He was making a point that the value might not be in the paper (though he did pocket the scraps). The bravado that came out for a German television crew covering the Bank did not only affect the customers but also Dadara, who announced that he would be producing alternate Bank Notes in the future.
An unnamed source reported that the Board of Directors of the Exchanghibition Bank met to discuss security, personnel and regulatory compliance issues. The Board also held an emergency late-night meeting to disassemble the Bank kiosk and put it into storage.
The Exchanghibition Bank will be visiting Black Rock City in 2011. Its exact location may be subject to change.