Article
Art
Culture
6 min read

St Kilda: sketching sanctuary and struggle

A remote Scottish island’s many meanings catch an artist’s eye.

Alastair Gordon is co-founder of Morphē Arts, a painter and art tutor at Leith School of Art. He works from his studio in London and exhibits across the UK, Europe and the US. 

An artist holds a sketchbook while standing overlooking a deserted village by a bay, sided by jagged cliffs.
Sketching on St Kilda.

Nestled amidst the tempestuous waters of the North Atlantic Ocean, the islands of St Kilda stand as a testament to isolation unparalleled in the British Isles. Located miles out from the Scottish mainland, the islands form an archipelago that rises defiantly, resembling a fortress of solitude amidst the tumultuous waves. 

In 1930, the islanders made a heartfelt plea to be evacuated from their beloved home, as the challenges of survival had become insurmountable. This marked the poignant conclusion of a remarkable two thousand years of human existence on the islands and no permanent community has been established since. Presently, St Kilda stands as a wild and desolate terrain, teeming with a diverse array of wildlife. Amongst the rugged slopes, one can witness the unexpected presence of wild sheep, descendants of the original livestock once cared for by the community. Following the evacuation, the sheep were left to roam freely, adapting to their newfound freedom. Isolated from the outside world for countless centuries, the islands have even given rise to their own unique subspecies of mouse and wren, a testament to the extraordinary resilience of life in this remote haven. 

It took me three arduous attempts, spread across consecutive years, to finally set foot on the elusive Hirta, the main island in a cluster of islets and sea stacks known collectively as St Kilda. Access to this remote wilderness is only granted during the warmer months, and my previous endeavours had been thwarted by relentless bouts of stormy weather. However, these failed attempts only served to intensify my determination, turning the eventual arrival into a pilgrimage of sorts, where the sweet taste of success was amplified by the challenges overcome. 

Standing at the water's edge, I found myself contemplating the concept of an island as a unique form of solitude, a refuge or retreat, perhaps even a hermitage or prison. 

As St Kilda emerged on the horizon, it appeared like a jagged tooth or a mystical axis mundi, a place where the earthly and spiritual realms intersect. Despite its wild and untamed nature, the island is paradoxically dominated by the imposing presence of the Ministry of Defence. Strange listening devices and radars loom over the cliff tops, as if engaged in a silent conversation with the world beyond. Stories of St Kilda often carry an air of romanticism, but the reality of island life was harsh and unforgiving. 

As our boat ventured into the circular embrace of St Kilda, a sudden stillness descended upon the waters, transforming the surroundings into an idyllic oasis of tranquillity. The island, formed from the remnants of a volcanic eruption, boasts a natural harbour in the shape of a perfect circle, its walls rising like a majestic amphitheatre to a towering height of 426 metres, equivalent to the Empire State Building, before plunging abruptly into a sheer drop.  

The village, consisting of a single street lined with stone cottages known as Black Houses, was the epicentre of island life. Daily existence revolved around the rhythms of fishing, agriculture, and church. Each morning, the island parliament convened to allocate the day's tasks, which often involved harvesting birds, tending to livestock, and repairing nets. Every year, the men of the island would scale the treacherous cliffs with nothing more than homemade ropes to gather the young birds from their precarious nests, while their protective parents swooped and dived in an attempt to thwart such pillaging. Winters were harsh, and the traditions of the church were strict. Missionaries were sent to the island to minister to the faithful, imposing a rigid routine of spiritual disciplines that seemed to serve as both law and religion.  

Upon reaching the shore, we were greeted by the island steward, one of only two current inhabitants of the island and resident only in the warmer months. Unless, of course, one counts the Ministry of Defence, whose enigmatic presence permeates every corner of the island. Their satellite dishes and listening posts loom ominously, as if engaged in some clandestine communication with an unseen realm, shattering the illusion of complete wilderness.  

Standing at the water's edge, I found myself contemplating the concept of an island as a unique form of solitude, a refuge or retreat, perhaps even a hermitage or prison. It brought to mind the image of Superman in his fortress of solitude or Edmond Dantès, a victim of misfortune, imprisoned and abandoned until the idea of the Count allowed for a rebirth. 

But deep down, I knew that this fantasy was far from the brutal reality faced by those who eked out a living on the edge of the world 

As a child, I often sought solace on islands during family holidays. There was something about the encircling presence of land surrounded by water that evoked a sense of tranquillity, a sanctuary away from the worries of the world. A sacred space where a weary soul could commune with the divine.  

As I ascended the steep walls of Hirta, my camera in hand and sketchbook tucked under my arm, I couldn't help but feel a sense of purpose. I felt like one of those Romantic painters of the previous century who attempted to bring a taste of the natural sublime to the city dwellers, trapped in their concrete jungles and smog-filled air. In that moment, I released mine is not the task of modern-day Romantic painter, venturing into the wilderness to capture moments of awe-inspiring beauty but to chronicle the mundane moments of domestic sublime as witnessed by this landscape through centuries of human inhabitation. The images I captured and the sketches I made now form the basis of new paintings to feature in an upcoming exhibition at An Lanntair gallery in Stornoway.  

But as I continued my climb, I couldn't help but question the romantic notions that had fuelled my journey. The landscape itself remained indifferent to my perception of it. It cared not for the grand narratives I projected onto its rugged terrain. It simply existed, unyielding and unapologetic. 

And what of St Kilda? Was it truly an idyllic haven, shielded from the political and ecological pollutants of the outside world? Or was it a fortress of solitude, where harsh regimes and a cruel climate ruled? Perhaps it was an oxymoron, embodying both extremes simultaneously. 

As our boat sailed away from the island, I found myself pondering the reality of life on St Kilda. What was it truly like to inhabit such a remote place? At times, I allowed my imagination to wander, envisioning a utopia where crime was unheard of, where the absence of policing was a testament to the inherent goodness of humanity. But deep down, I knew that this fantasy was far from the brutal reality faced by those who eked out a living on the edge of the world. Life on St Kilda must have been a constant struggle, a battle against the elements, made bearable only by the flickering hope of a better future. 

As I packed away my camera and sketchbook, I couldn't help but feel a sense of gratitude for the opportunity to glimpse into the past, to touch the remnants of a forgotten world. The exhibition I will present in Stornoway will be more than just a collection of art; it will be a tribute to the resilience of the islanders, not just in St Kilda but across the Outer Hebrides in times of hardship, to their ability to find beauty and hope in the harshest of circumstances. And as I prepare to share their story again through painting, I hope that it will serve as a reminder of the fragility and strength of the human spirit, even in the face of isolation and adversity. 

 

Alastair Gordon is an artist based in Edinburgh and London. His new exhibition of paintings opens at An Lanntair in Stornoway, Isle of Lewis, 31 May 2024. The exhibition coincides with a parallel two-person exhibition with Elaine Woo MacGregor opening the same night at Cynthia Corbett Gallery, 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.