The Birth Of Barter: How One Greek Town Dropped The Euro And Moved On

Tyler Durden's picture

Greece was the first country to defect from the non-default game theory regime of the European Union (a move which ultimately will be in its great benefit, as it is forced, very shortly, to default higher and higher into the 177% of GDP secured debt, until finally even the Troika's DIP loan is impaired). It has also become the first country to demonstrate that people can, contrary to apocalyptic claims otherwise by the global banker consortium which realizes oh too well it will be its death if people stop playing by the broken rules, exist under a barter regime. The video below shows how the Greek town of Volos develops its own bartering system without the aid of the euro. Yes - it can be done, especially since one is forced to produce in order to consume, and borrowing infinitely from the future becomes impossible.

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Seize Mars's picture

I've said it before.





Troll Magnet's picture

ooooh...somebody at BBC will be getting fired any minute now for "leaking" this story.

Pinto Currency's picture


Digital currency time.

This cannot be permitted.


hedgeless_horseman's picture



Disintermediation, bitchezzz!!!

Pinto Currency's picture


... Dick Clark dead after wheel chair squash game with David Rockefeller in NY Fed gold vaults.

Pinto Currency's picture


Permit me to (OUTLAW BARTER and using central banking and legal tender laws) issue and control the money of a nation, and I care not who makes its laws.

Mayer Amschel Rothschild


Roger O. Thornhill's picture

Interesting! And no real way to leech off of the people with exotic "financial products." It works to well and can't be gamed properly.

My bet? This will be declared a new form of terror by the EU technocrats.


Transformer's picture

"Interesting! And no real way to leech off of the people with exotic "financial products." It works to well and can't be gamed properly.

My bet? This will be declared a new form of terror by the EU technocrats."


This is part of the "Secret science of money".  With this technology, any..... ANY...  diverse group of producers could create their own money system.  If the banks were to fail, this "Secret Science" will probably just pop up everywhere.  Money would be based on production and not as it is now on the whim of bankers.  This system of creating barter money and how to make it work, is getting so widely known, I don't know how they will be able to stop it.

Pinto Currency's picture

The Yahoo! link has this displayed this morning -

This Link Is Not Authorized by Yahoo!

That wasn't there yesterday.  - and the .pdf of the JP Morgan report is still there if you continue on.

Harlequin001's picture

"Secret science of money. With this technology..." - What technology? It's medieval, going back to the Stone Age.

If this isn't an absolute fucking calamity on a global scale, I don't know what is?

Pure Evil's picture

Quaint little system, but the IRS has this covered. Barter, or like kind exchanges are taxed in the USSA.

Next thing you know, they'll tax you for having sex with your wife, (like kind exchange.)

Transformer's picture

How do they tax if the people have no money?

AldousHuxley's picture

they garnish future wages, unemployment benefits, social security benefits, any money from life insurance, etc....there are many ways.


similar to alimony and child support where courts force unemployed fathers to get a job and take 30 % of your income.


Thanks to American elites, bartering is considered income. They don't want to leave you alone.


just don't buy anything except necessary goods and try to learn to fix things yourself. or you can steal from others like the elites to pay for stuff.

Harlequin001's picture

'similar to alimony and child support where courts force unemployed fathers to get a job and take 30 % of your income.'

and so they should. Why should I pay for these people's offspring?

FeralSerf's picture

Evading taxes is a jailable offense.

Who's going to pay the jailer?  Beats me -- the system breaks down at some point.  Maybe they'll bring back the rack.

Harlequin001's picture

'How do they tax if the people have no money?'

That's easy, they take the house you 'own', and if you don't have one of them they take your chickens.

Next stop, debtors prisons and the death penalty for well, anything really. That's what happens when you break the law in a society that has no spare cash to deal with felons...

Harlequin001's picture

'Quaint little system, but the IRS has this covered..' So does just about every other taxation system on the planet, including beneficial ownership and benefits in kind both at home and overseas...

franzpick's picture

Here's the current story of a national citizenry suffering 18% inflation who attempted to substitute gold for their national currency (house prices, for one, quoted in gold as well as the currency).

The effort by the citizens to ditch the currency, and the draconian government responce to quash any ongoing use of a currency substitute, look to me like two trends that could spread to other nations, but I'll venture that the outcome for hard money currency substitutes doesn't look good until world financial authorities lose control of their juggling and world and national credit markets collapse some morning, once again: 

Pladizow's picture

Slowly moving up the sale:

Debt/Money is for slaves

Barter is for pesants

Silver is for gentlemen

Gold is for Kings.

Trimmed Hedge's picture

...And rockin' New Year's is for bitchez, BITCHEZ!!  ; )

caconhma's picture

The primary bank purpose was/is to provide services by facilitating & simplifying products & services exchanges.


However, our Jewish friends realized that providing these services they can charge exorbitant fees.


Then came the next step: fractional banking. In other word, creating new money from nothing and then lending them at exorbitant fees kills instantaneously two birds: creating unlimited wealth for bankers and, at the same time, gaining them control over the entire society by providing control and/or ownership over most of

· corporations,

· politicians and governments,

· judicial system


However, this bankers' paradise requires outmost careful and intelligent management since excesses create a chaos leading to the entire system disintegration and destruction. This happens when greed and arrogance are taking over.


This is exactly where we are heading now.




Revert_Back_to_1792_Act's picture

This cartoon might be more appropirate.

There is a new spirit in America.




FrankDrakman's picture

"then came the next step: fractional banking."

Only a moron would blame this on jews. From the first issuance of paper money in China, time and again, people of all races and cultures have found the lure of creating more paper money than there are assets to back it irresistible.

I'm not holding anyone up as a model of virtue, but to suggest that this flaw is unique to jews suggests a certain unexamined world view.

FeralSerf's picture

There seems to be a disproportionate number of Ashkenazi (faux)-Jews in the top echelons of the fractional banking biz.  Only a moron could be blind to this.

FrankDrakman's picture

You seem to lack reading comprehension skills. I said nothing about whether or not jews participate in this process, or whether they are disproportionately represented today. The OP alleged that jews created fractional banking, which is utter tripe.

FeralSerf's picture

Who do you claim created fractional banking?

I've read that the practice was created by the goldsmiths when they began issuing more receipts for gold than was actually deposited with them.  Eastern European or Askenazi "Jews" are alleged to have dominated the gold smithing business in Europe a few hundred years ago.  Maybe that's why their products were called "jewelry", eh?


Colonial Intent's picture

Jews became lenders by default, both islam and christianity banned usury, jews were given a niche market.

Sean7k's picture

While the Chinese were the first to try and fail with paper money, most other attempts at debasement focused on the remaking of coins with lesser weights or mixed metals. The current system has it's foundation in the warehouse slip system of the goldsmiths- one of which is our famous Anschel Rothschiild- A Jew.

It was left to his five sons to create a system of banking that would focus on the control of currency and the buying of governments. This flaw is unique to Jews in the sense that for centuries, because of Church pressure, they were the only ones allowed to loan at interest. They became the bank by default.

To blame jews for the woes of central banking is misguided, to blame the Rothschilds and the Zionist organization they spawned from the gates of hell is not. 

theMAXILOPEZpsycho's picture

how much of this new greek currency do I get for an ounce of gold?

where are the stopguards that the guy with the central database won't inflate

Withdrawn Sanction's picture

where are the stopguards that the guy with the central database won't inflate

Good question and the key one for ANY monetary regime.  The opprobrium of one's neighbors is a powerful disincentive for him to cheat.  He has to live daily w/those folks.  It's not a fail-safe by any means, but more powerful than what we've got over BB.

What happens, however, when there is honest disagreement b/w the database guy and the account holders?  This would seem to me to be a far more likely occurrence.

Cloud9.5's picture

He is within reach of the people he would defraud.  Best be careful, lots of lamp posts in the village square.

Bobbyrib's picture

He is still a banker! /sarcasm.

franzpick's picture


Gold is for Kings and Silver is for Gentlemen - only in the (manipulated) good times.

After the impending world credit collapse, barter will rule for awhile, and hard money black markets will be the method of exchange.

See, as one example, Russia, 1991. From wikipedia:

Shortly after the fall of the Soviet Union in 1991, local currencies were introduced in the newly independent states.


Whiner's picture

He was only...drum roll....82! I thought he was 112. American Bandstand will have to cease programming.

LowProfile's picture

Coming to a community near you!!!


Really...  Please, bring it. The sooner the better.

CPL's picture

Participatory Economics is the word you guys are looking for here.  Go long the Greek towns using them.


Belarusian Bull's picture

That renegade town full of terrorists will be soon purged by armed forces of The Holy Empire of Fiat-loving Bankers.

I pity the children, they were sort of cute :(

CH1's picture

Oh no! There must be an Al Queda cell there!!

Call in the drones! Let the bombing begin!

agent default's picture

You really can't do it for the long run.  You see the government requires taxes and taxes can only be paid in legal tender.  So  eventually you have to somehow have to come up with the banknotes.  And people still think taxation is about paying for the roads.  It is  about keeping you locked into their monetary system.

LowProfile's picture


You really can't do it for the long run.

Says who, motherfucker?!?!

WTFx10's picture

Agent douche bag, use the fiat to pay them their extortion fees and barter for everything else you can. You'll end up have more. Give the criminals their monopoly money.

agent default's picture

Yeah, but where will you get if from in the first place?  Eventually, your stash of paper in a barter economy will run dry as taxes pile up.  This is the whole point of taxation, to keep you inside the system.  Oh, and by the way I was talking to a Greek guy last week, and get this: In Greece there is a virtual income determined by the size of your property, your car, 5000Euro for just being alive(no really he had to explain that to me three times).  So even if your tax return is peanuts, they will tax you on what they think you make.  The only viable system of barter under those circumstances involves sending large quantities of 5.45x39 to the government for free.  But the Greeks do not seem that determined at this point in time.