News for hackers. Stuff that matters.

A comment on London's National Gallery purchases a painting by an unknown artist for $20M. Parent comment

Re:London's National Gallery purchases a painting by an unkn... by victorbjorklund on Saturday May 03, 2025 @03:27AM (#43877428)
The seller now has 20 million to spend. The money just moved from A to B.
[ Parent | on HN ]
Re:London's National Gallery purchases a painting by an unkn... by demosito666 on Saturday May 03, 2025 @04:07AM (#43877561)
Most likely they will not be spent, rather they will be put into some fund with the only observable effect of further increasing financialization.
[ Parent | on HN ]
Re:London's National Gallery purchases a painting by an unkn... by cejast on Saturday May 03, 2025 @06:00AM (#43877976)
That is a very broad generalization. Even if it was 'put into some fund', that equates to a capital investment which can be used to deliver value elsewhere.

Money is complicated - the only way in which I would see it get truly wasted is if you took it out as cash and burnt it. Even then you'll be (marginally) raising the value of all other money left in the system.

[ Parent | on HN ]