Article
Culture
Mental Health
Music
5 min read

Dark, sweet and subtle: recovered music orientates us

The alt-folk music seeking inspiration from forgotten hymns.

Jonathan is Team Rector for Wickford and Runwell. He is co-author of The Secret Chord, and writes on the arts.

A woman stand at a mixing desk playing a small keyboard.
Lleuwen Steffan plays.

In 2012, musician Lleuwen Steffan first came across a trove of lost Welsh folk hymns preserved in the sound archive of St Fagan’s Museum. Knowing they were not in current hymn books, she undertook further research and discovered they had been excluded from earlier hymn books by the then all-male hymn book committees of their time. Instead, they had been passed on orally, and, although recorded for St Fagan’s by the historian Robin Gwyndaf, had become lost with time and secularization. 

Steffan was particularly attracted to these hymns as many dealt with the dark side of the psyche including addiction and mental distress. She has said that many of these hymns, some of which date back to the eighteenth century, are “conversational and the lyrics feel so current”. She is currently taking these hymns back to where they were born through a tour of 50 chapels in Wales but this is not an exercise in nostalgia as her focus is on their contemporary resonance: “Musically, I’m not interested in recreating something from the past. That’s missing the point. Yes, the words are old but the message is always new. The music is free form.” 

Although the subject matter of these hymns will have been part of the reason for their exclusion from the hymn books of their day, that same subject matter has been part of worship songs from the time of the Psalms to the present. The Psalms are the worship songs of the people of Israel as recorded in the Old Testament and are the first occasion in ancient literature where the voice of victims is heard and valued.  

The Old Testament scholar Walter Brueggemann in his book Spirituality of the Psalms provides an insightful and structured overview of the Psalms using three categories: orientation, disorientation, and new orientation. Orientation is the establishment of structure and order. Disorientation is a place of imbalance and nonsense, which is potentially unjust. New orientation is moving forward away from what was and toward new possibilities. As a result, the Psalms provide us with expressions of suffering and hope in the seasons of everyday life. In his book, Brueggemann explains how Psalms of negativity, cries for vengeance, and profound penitence are foundational to a life of faith, and establishes that the reality of deep loss and amazing gifts are held together in a powerful tension. 

“This eerie, intriguing and enchanting music... is infused with echoes of the past two centuries’ beliefs and threads of spirituality and song.”

Rupert Loydell 

With such a collection of worship songs as the foundation of worship in churches, and with plainsong in Western churches providing a means by which to chant the Psalms on a daily basis, it should not be surprising that later hymns, such as those being reimagined by Steffan, tap into the dark side of the psyche. The success of albums such as Officium by saxophonist Jan Garbarek and The Hilliard Ensemble, together with Steffan’s own collaboration with pianist Huw Warren and saxophonist Mark Lockheart on Welsh hymns Duw A Wyr (God Only Knows) which is in a similar vein, show how such music can be made relevant to contemporary audiences.  

Ghostwriter’s latest album, Tremulant, inhabits similar sonic territory to Steffan’s current Tafod Arian (Silver Tongue) music. Created over several years by Mark Brend, Suzy Mangion, Andrew Rumsey and Michael Weston King, this album has also been borne out of a shared love of antique evangelical hymns and spiritual songs. Using English, Welsh, Scottish and American source material from the nineteenth and early twentieth centuries, the quartet pieced together their reconstructed hymnal through remote collaboration – creating an album that sounds both ancient and modern. 

In his review of Tremulant, Rupert Loydell says it is “a strange ambient gospel album, where what used to be called spirituals and hymns are subverted by echo, wheezing organ and spacious musical interludes, which recontextualise, reimagine, stretch and mutate the very idea of song”.  This, he says, “is eerie, intriguing and enchanting music” with “echoes of classic Nico (the cold beauty of Desertshore)”. It's ”declamatory poetry, alt-folk, noise and gentle discord” combined with “calm vocals” is “infused with echoes of the past two centuries’ beliefs and threads of spirituality and song”. As such, it's not what you’ll hear the local worship band playing, more’s the pity! 

“Something kept bringing me back. That something has always been there. For that I am extremely thankful and am listening to it more and more.” 

Lleuwen Steffan 

Like buses, other revisiting’s and reimagining’s of old hymns and gospel songs are also coming along together. Hymn Time In The Land Of Abandon by Over the Rhine is “Music that we grew up singing, music as present in our formative years as the air we breathed”. Their recordings of hymns have been described as “spare, sweet and subtle renderings that transform the familiar into something fresh and new”.  

The musical reimaging involved in Over the Rhine’s reinterpretations of hymns takes them into the space that Brueggemann defines as new orientation, while the sounds and, in some cases, content of the hymns chosen by Steffan and Ghostwriter are more in the realm of his disorientation category. The music making of Lleuwen Steffan, Ghostwriter and Over the Rhine takes us to places not commonly accessed by the music used in many church services. As is indicated by the story of hymn book committees omitting hymns that tap into the dark side of the psyche, much of the music used in church services can be located firmly in either the orientation or, sometimes, the new orientation categories.  

Given that the arc of Christ’s life, death and resurrection takes us on a similar journey to that which Brueggemann sees occurring in the Book of Psalms, when our music and liturgy fail to go on a similar journey, we are only encountering part of the meaning and message of faith. The recent music of Lleuwen Steffan, Ghostwriter, and Over the Rhine is therefore profoundly helpful in beginning to redress that loss of balance in worship by taking us back to a fuller appreciation for the original songbook of the faithful, the Book of Psalms.  

In speaking about why she has been drawn again and again to church music, Steffan described her teenage experience of drinking with her “mates in Bangor on the Saturday night” then getting “the last bus back home” and rolling “out of bed the following day to go to Sunday School”. She concluded: “That’s a strange paradox but, you see, something kept bringing me back. That something has always been there. For that I am extremely thankful and am listening to it more and more.” It may well be that that something is the arc of orientation, disorientation and new orientation we encounter and experience in the Psalms.  

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.