The K Foundation was an art foundation set up by Bill Drummond and Jimmy Cauty (The KLF) in 1993, following their 'retirement' from the music industry. The Foundation served as an artistic outlet for the duo's post-retirement KLF income. Between 1993 and 1995, they spent this money in a number of ways, including on a series of Situationist-inspired press adverts and extravagant subversions in the art world, focusing in particular on the Turner Prize. Most notoriously, when their plans to use banknotes as part of a work of art fell through, they burnt a million pounds in cash.
The K Foundation announced a 23 year moratorium on all projects from November 1995. They further indicated that they would not speak about the burning of the million pounds during the period of this moratorium.
Read more about K Foundation: Context, K Foundation Adverts, Turner Prize Subversion, Money: A Major Body of Cash, The K Foundation Burn A Million Quid, Moratorium, K Cera Cera and The Magnificent
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“If all political power be derived only from Adam, and be to descend only to his successive heirs, by the ordinance of God and divine institution, this is a right antecedent and paramount to all government; and therefore the positive laws of men cannot determine that, which is itself the foundation of all law and government, and is to receive its rule only from the law of God and nature.”
—John Locke (1632–1704)