Review
Art
Culture
5 min read

Matthew Krishanu: painting childhood

Portraying family, memories and counterpoints.

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

a painting shows Bengali celebrants of a Eucharist.
Preaching, Matthew Krishnau, 2018.
Peter Mallet.

The Bough Breaks by Matthew Krishanu at Camden Art Centre has been described as the most significant exhibition of his work to date because, by showing the drawings and works on paper that he calls the generative heartbeat of his work as well as the works for which he is best known, the exhibition is the fullest expression to date of the expansive world of his artistic practice. 

His images are primarily personal stories told through layers of memory, imagination, and conversations with the history of painting, in atmospheric, pared-back compositions which focus particularly on his childhood years in Bangladesh growing up with his brother, and their parents who were a British Christian priest and a Bengali theologian.  

He speaks of his images in terms of an ‘I-you-them‘ axis. The work he considers his first painting, from 2005, entitled ‘Boy on a Bed’ was originally a scene of an empty room. He recalls that “late in the night before I was going to be exhibiting it, I sketched in this boy with black hair, brown skin, and a little toy car behind him”. He continues, “I knew that was me, and I knew that there was something I wanted to communicate about the inner world of that child”. In 2012, there came another “fundamental shift” in that “I wanted to paint myself and my brother”. With the first ‘Two Boys’ painting, “I remember it felt like worlds had opened up”. He explains that “when you have a single child, you can project ideas of melancholy or loneliness” but “when you have two, they outnumber the single viewer” and “I think the fact that they are clearly brothers and both have brown skin and often a very direct gaze at the viewer, holds a certain power”. 

He recalls being in a show called Painting Childhood: From Holbein to Freud where the very last room was of the ‘Two Boys’: “Having gone through room after room of European children, white children, then coming into a room where these two boys weren't othered in any way, but were taking centre stage in the narrative, was hugely important.” 

Adults are excised from the ‘Two Boys’ series “because I want the boys to be out on a limb or up on a hill, without parental supervision”. However, within the ‘Mission’ series - paintings of church life in Bangladesh - adults are seen from the perspective of children. As a result, they are in the ‘them’ part of the axis: “I see the adults in the third person. I'm constructing them as in some way other to the child's eye. This brings in the strangeness of performance and ritual, the stiffness of it too, particularly when you're used to being barefoot on the ground in Bangladesh and, suddenly, are meant to sit still and quiet. For me, it was compounded by the fact that I was brown skinned, as was my brother and mother, and my father was white skinned, and he was a priest, and he was a man, and all the power that comes with being a white man in Bangladesh; just the way he is perceived by his congregation, and even strangers on the street.”  

He recalls that: At the time I knew that wasn't right and I didn't like the depictions of God as this white man flying around the sky. As a child, you have quite a raw and immediate relationship to life and nature and spirituality and, for me, it was the religious art that was the fundamental barrier to entering the world of the church. Also, the gendering of ‘Our Father’ or Jesus, the ‘only son’. That's why, as a young teen, I decided I didn't want to be confirmed, because I didn't believe in that construction.” 

‘For me, that is where my faith is, in love, in the love of family, in all that a baby calls upon us to give it.’ 

Matthew Krishnau

In a painting like ‘Preaching’, he is exploring what it is to centre, in a congregation of brown adults and children, “the four nuns and my mother preaching with the two female candle holders and have the men on the sides”. So, “It's all about constructing a world which is both a counterpoint to the world of the two boys and nature, but also a counterpoint to the religious hierarchy we see in the church now”. The ‘Holy Family’ series, “which is of Bengali nuns, priests, and bishops” “is a deliberate response to the white depictions of Christ, baby Jesus, and Madonna”. 

He notes that: “It's part of my painting mission to offer a counterpoint on the widest possible framing of an ‘I-to-you’ axis of a brown child, which isn't seen through the lens of National Geographic or Comic Relief ‘white saviours’, but is taken and centred as the heart of a human story. And if there's any spiritual message, then it's about that; of love, of the divinity of children and babies, and the divinity of our beautiful world, the ecological world of trees, water, glorious sunsets and sunrises, and all that comes with the human form.” 

He thinks that this show has “set up a kind of a world philosophy” for him: “The core, the heart of the show, for me, is family, particularly of my late wife and my daughter. In and amongst the drawings, there are some pictures of our baby, and my late wife holding our baby or, indeed, holding the tree that my daughter is climbing. For me, that is where my faith is, in love, in the love of family, in all that a baby calls upon us to give it. That is the closest thing to divinity. I won't even use the word God because it's too masculine in our language. The closest thing to the divine, I sincerely believe, is in the eyes of children, is in the eyes of babies, particularly.” 

He concludes by saying he would love to expand his practice further in the future, noting “a figure that has really resonated in a way I haven't felt before is the Palestinian priest Revd Munther Isaac and his ‘Christ in the rubble’ sermon”. However, his art always “needs to come from a personal connection to something I've conceptually explored; it needs to have that heart first of immediate one-to-one human connection”. 

 

Matthew Krishanu: The Bough Breaks, 26 April - 23 June 2024, Camden Art Centre, London.

Article
Culture
Economics
Ethics
1 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.