Review
America
Culture
Film & TV
5 min read

Cutting America to the bone

Civil War warns against worshipping civic and political violence.

Chris Wadibia is an academic advising on faith-based challenges. His research includes political Pentecostalism, global Christianity, and development. 

An explosion occurs at the Lincoln Memorail
Civil War's finale in Washington DC.
A24.

The president of the United States is dead. The film Civil War culminates with soldiers of the Western Forces (a fictional secessionist group composed of California and Texas) posing for pictures with a presidential corpse just minutes after executing him. It’s a chilling climax, with optics reminiscent of American soldiers capturing deposed president of Iraq Saddam Hussein in 2003. The film ends with a warning. No democratic country, no matter the perceived strength of its institutions, is immune from tyranny, civil violence, and the bloody process of state failure. Collapse follows when states lose the capacity to provide solutions to the linchpin challenges negatively affecting their citizens. 

A strength of Civil War is the way it articulates a universal political message without defiling itself with the toxic hyper-partisanship asphyxiating real-world American society.  

It features a number of loyalist and secessionist geopolitical groups each motivated by a distinctive combination of social, economic, and political interests and goals. These groups include the Western Forces, Florida Alliance, New People’s Army, and Loyalist States.  

The film’s storyline prioritises a violently unfolding near future civil war in a United States whose president bucked constitutional tradition by remaining in office for a third term. The president, whose character is modelled after Donald Trump, is the villain of the film, despite being supported by over half of the 50 American states. The Western Forces function as the film's hero group. Unlike the mercilessly murderous and viciously xenophobic soldiers affiliated with the Loyalist States, the soldiers of the Western Forces treat an eclectic team of journalists and war photographers (the film’s main protagonists) with kindness and respect, allowing them to accompany them during the final stages of their assault on the White House and entrance into the belly of the beast, the Oval Office. 

The film includes shocking scenes that would make the most patriotic Americans shudder. Shortly after it begins, a suicide bomber associated with the Loyalist States, proudly carrying a large American flag, sprints into the centre of a group of vulnerable people, pleading with agents charged with guarding a water tanker, and detonates a bomb. Dozens of people including children are killed, many of whom were non-White Americans. This scene's power is that it bring home the threats Americans associate with foreign lands. Suddenly the menaces Americans instinctively link with states like Afghanistan, Burkina Faso, and Venezuela exist in cities like Charlottesville, New York, and Washington DC. America is no longer safe, and the threats have come from within instead of from abroad.  

The message of Christ applies to theocracies and secular states alike. Every state, regardless of its attitudes toward religion, has an interest in its people living together peacefully.

As an American watching this film from a cozy cinema in Oxford, I thought about how the violence, polarisation, and civic rage depicted in the film already exists in many forms in the country I love from a distance. Shootings, many of them mass in nature, happen every day in an America whose citizens are comfortable with violence but afraid of each other. The United States suffers from an embarrassingly high association with mass shootings, far more than whichever county manages to claim an ignominious second place. Whilst it is unlikely tanks and attack helicopters will surround the White House anytime soon, the casual spirit of violence that has overtaken American society already fosters a level of violence far above the threshold any twenty first century democratic state should tolerate.  

I watched this film as a proud American and as a committed Christian, a faith I share with many of my fellow American citizens. My Bible, and theirs, does say we are citizens of heaven” destined to enjoy an eternal posterity in a New Creation marked by perfect peace and prosperity. However, until Christ returns, and God remakes the cosmos, Christians do have a vital role to play in their everyday civic communities. Whilst Civil War offers a grim view of America’s immediate political future, that message of Christ contains the content needed to cure the gravest challenges bedevilling the United States. I remain optimistic. 

Not all Americans identify as Christians or even with organised religion; nevertheless, twentieth century history confirms that states that altogether ignore God will soon wither into an ecosystemic abyss of state-sponsored moral relativism that endorses the use of violence for an increasing, arbitrary range of unsuitable, injudicious, and illegitimate purposes. The message of Christ applies to theocracies and secular states alike. Every state, regardless of its attitudes toward religion, has an interest in its people living together peacefully. Humans need a moral system to provide them (as well as their societies at large) with at least a perceived sense of moral structure. Christ’s message articulates a concept of civic love that challenges the existing worship of civic and political violence. Christ argues that violence in moments of disagreement or dismay is never the appropriate option; the mark of genuine Christian devotion is revealed in the avoidance of violent action even when the use of violence would not categorically be condemned by observers. 

Civil War explains how multiple, competing Americas exist. These Americas have different cultures, economic capacities, and sociopolitical ideologies. It teaches that America’s main problem is Americans only love other Americans like them. A number of enclaves exist across American society. Cut off from each other, the development of these enclaves has led to the emergence of micro-Americas so distinctive from each other that some of them no longer view formal geopolitical ties with other micro-Americas as in their best interest.  

The same enclavisation portrayed in Civil War exists in the nonfictional, real-life America. However, unlike in the America depicted in the film, the real-life America still has time to solve its sociopolitical troubles and stop the American state from collapsing. I recommend Civil War to anyone interested in being entertained and warned by what a dystopian, worst-case-scenario of near-future American political activity might actually look like. 

Article
Culture
Economics
Ethics
6 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?
A montage shows Trump with a raised fist against other images of him and the phrase 'fight fight fight'.
$Trump coin marketing image.
gettrumpmemes.com,

Donald Trump’s “liberation day” tariffs may have driven sharp swings in global financial markets, but his actions in markets a few months earlier were in some ways even more peculiar.

On the Friday before his inauguration as the 47th US President in January, the Republican surprised many with the launch of the $TRUMP memecoin, described by its website as “the only official Trump meme”. The cryptocurrency token, in which Trump’s family business owned a stake, initially soared in value to more than $14bn over that following weekend. 

Then, on the Sunday, Trump’s wife Melania launched her own memecoin, $MELANIA, which reached a value of $8.5bn. Even the pastor who spoke at the president’s inauguration subsequently launched his own memecoin. 

For those wondering what exactly a memecoin is, you are not alone. In short, they are a form of cryptocurrency - an asset class that itself has attracted plenty of questions about its substance and purpose - representing online viral moments. They have no fundamental value or business model and, according to the US securities regulator, “typically have limited or no use or functionality”. 

Donald and Melania Trump’s coins subsequently plunged in price, but still have a value of around $2.5bn and $214mn respectively, according to website CoinMarketCap. 

There are plenty of others in existence. PEPE, based on a comic frog, has a value of around $3.6bn; BONK, a cartoon dog, has a market cap of $1.5bn; and PNUT, a reference to a squirrel euthanised by authorities in New York and about which Trump was allegedly “fired up” (although doubt has since been cast on the president’s involvement in the matter), is still valued at around $174mn, despite having fallen sharply in price.  

Dogecoin, seen as the world’s first memecoin and originally created as a joke, boasts a market value of around $25bn. (There are other memecoins which may not be suitable for these pages). 

Some people’s willingness to buy an “asset” with no use or fundamental value may seem strange to more traditional investors. But it can be viewed as just one manifestation of the speculative investor behaviour evident since the onset of the coronavirus pandemic and, indeed, at times throughout history. 

The price of Bitcoin recently rose above $100,000, despite many investors still viewing it as having little or no value (in 2023 the UK’s Treasury select committee described cryptocurrencies as having “no intrinsic value, huge price volatility and no discernible social good”). In early 2021, shares in GameStop - a loss-making US video games retailer that some hedge funds were betting against - rocketed as much as 2,400 per cent, as retail investors piled in, many with the aim of inflicting pain on the hedge fund short sellers (in that respect at least, a highly successful strategy that became the subject of the film Dumb Money). The huge rise in AI and other tech stocks in recent years - until the recent tariff-driven volatility - has also been described as a bubble by some commentators. 

Whether or not such episodes can be compared to infamous bouts of speculative mania in history depends on your point of view (and often can only be judged with the benefit of hindsight) - be it the 17th century Dutch tulip bulb mania, shares in the South Sea Company in the 18th century or the dotcom boom and bust of the late 1990s and early 2000s. 

But it does give rise to the question of when investment should start to be described as speculation or even as gambling? And what are the rights and wrongs of any of those activities? 

There can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources... 

Gambling can be thought of as risking a stake on, for instance, the result of a game of chance or sport in the hope of a bigger payout. While often the result is purely down to chance, in some cases a strategy or an element of research (for instance of a horse or football team’s form) can be used. Investment, in contrast, tends to involve purported economic utility and assets believed to have some sort of underlying value, and holds the hope of future profit (although there are also plenty of bad investments or those that have gone to zero). While an investor must be prepared to lose their entire stake, in some cases such an event is relatively unlikely (for instance, if they buy a fund tracking the performance of a major stock exchange). Speculation is harder to define, but is generally seen as shorter term than investment, with more chance of a bigger gain or loss, and dependent on price fluctuations. Rightly or wrongly, the term has a more negative connotation than investment. 

One writer who explored the ethics of these activities was Oswald von Nell-Breuning, a Jesuit theologian and economist who served as an adviser to the Pope and who was banned from publishing under the Nazis. 

While he found that “one general definition cannot capture all the nuances” of speculation, he identified two different types of speculative activity - one that was purely trying to make a profit from financial market trading, and one based on trying to create a viable business. (See this article in the Catholic Social Science Review for a fuller explanation of Nell-Breuning’s views on speculation). 

As the CSSR article shows, Nell-Breuning found that there can be positive effects from speculation - one might think of better liquidity and price discovery in a market, while, in commodity futures markets, speculators allow producers to hedge risk

But he also argued that there can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources away from production. 

And whereas gambling typically takes place within a circle of players who have chosen to take part, speculation, he wrote, can affect a greater portion of society - for instance, if it affects the price of shares or bonds they hold. 

The Bible - on which Nell-Breuning’s faith and analysis was based - does not take a prescriptive approach to such activities. But it does provide some interesting guidance.  

An entrepreneurial approach to business and investment is applauded, for instance when the writer of the book of Proverbs (traditionally believed to be King Solomon) praises the virtues of “an excellent wife”. These include investing in a field and using her earnings from business to plant a vineyard, and feeding her family from her gains. 

Jesus tells a story of a master who, before going on a journey, gives his property to his servants, each according to their ability. To one he gives five “talents” (a large unit of money), to a second two and to a third servant he gives one. 

The first servant trades with his talents and makes five more talents - a 100 per cent profit - and is applauded by the master on his return. The second servant also trades and similarly makes two more talents and is again applauded. 

But the third servant, being afraid and believing the master to be “a hard man”, hides the money in a hole in the ground. He is condemned as “wicked and slothful”, and told that he should at least have put the money in the bank. 

While Jesus’s story may primarily be about how we view God’s nature, how we use our God-given abilities and whether or not we can take risks in faith for Him, it is also hard not to see investment and indeed wise speculation as being virtuous activities here. Putting the money into a bank account is, in this story anyway, more of a fallback option. 

But the Bible also warns us against putting money above all else in our lives. The love of money is, famously, a root of all sorts of evil, while we are also told to be content with what we have, and that “wealth gained hastily will dwindle”. 

Nell-Breuning similarly warns that a “get-rich-quick” mindset, when this is placed above all else, can be harmful, and advises caution in situations where the lure of big profits can lead the speculator into market manipulation or fraud. 

After all, both gambling and crypto trading have the potential to become dangerous and damaging addictions needing treatment

Ultimately, Nell-Breuning struggled to come to a simple conclusion on the question of whether speculation, in and of itself, is morally wrong. It is, he wrote, a judgment call for those involved. 

When making such decisions ourselves, his - and the Bible’s - warnings may be worth bearing in mind.