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The Birth Of Barter: How One Greek Town Dropped The Euro And Moved On
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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Like someone said above... alternate currency maybe, but not barter.
Much thanks.
It is barter but with a record of credit. They barter services as well and then can use the credit so they don't always have to perform tango lessons to pay for child care.
.
This is not true barter.
Who the hell cares? They are ACTING!
They can always improve their system, move to a different one, or whatever. But the failure to START - where all the brilliant talkers fail - has been overcome! They are alive.
Long Drakhma, Sohrt EUR
I buy 100 puts on EUR/TEM @market GTC
When in Greece - Drop the Euro, not the soap!
I wonder who operates this account database. Will they sell out?
It's only a matter of time before the operator realizes he/she/they can print their own 'Tem' and live for free.
Goldman Sachs is probably looking at it already!
There is a simple solution to this. A truly transparent system that shows how many "credits" there are in the central account, that is publicly accessible, and updated daily (weekly, whatever) so that people know not what each individual has but how large and quickly the system is growing in aggregate. Then, they can say, we will "cap" the credit here and if need be expand it minutely with the approval of the participants. If they get feedback and the people want to keep the cap they can.
What will really be the problem is when people aren't spending their TEM fast enough and want to get interest on it. It is not truly a bankster system until there is interest accruing and fractional reserve accounting.
any system can be secured from undetected tampering, even from someone with full access
Demitrious PapaBernankous?
"One is forced to produce in order to consume" should be the ZH Header. Goldbugz and SilverBugz take notice.
You don't need to call us out or rub it in our face. Noone is paying closer attention. I junked you because money is convenient (store of value, multi-party transactions where barter is inefficient) and history shows people choose gold and silver as money. Admitedly, it is a cost to the system and theoretically bitcoin or its ilk could be more efficient. There will probably be a place for both and hybrids such as digital gold.
You know, the only way I get gold or silver is to first produce something - I can't just create it out of thin air the way the govt makes money. Then I use the gold/silver to store the value of my production for later use. You really need to think a little more before you start typing.
Produce something? Why don't you just steal it?
Worked for FDR.
Free markets are headed underground...
Hey look, it's Mr. Panos!
Fuck You, Malakas!
http://www.youtube.com/user/mrpanosblog
I thought of that guy when I saw the headline. Specifically "Never trust a Greek who is broke. He has money in the basement, ALL DRACHMAS!"
Greece has a problem? No, you gave Greece the money, you have the problem!
You think the Bernank will allow an alternate currency in the US? About the same chance that we get the truth on 9/11 or a US Congress that represents the people.
Fascism in the US is far too ingrained to allow any threats to the existing order. Learn to bow to your lord and master, the Fed. And the paper dollar. Keep drinking that flouoridated water. And eating the toxic food.
There are always gray markets ... one just has to not attract embarrassing attention.
Black market revolution.
Oh please. First of all, he's an errand boy. Second of all, as long his currency retains usefulness, it will stay. The moment it's no longer useful, it and he are gone.
The fascism you mention, which manifests for example as the NDAA and in other forms is not sign of strength, but of fear. These guys are deathly afraid of something....do you know what it is (they do)?
for the greek speaking folks, here their website
http://www.tem-magnisia.gr/index.php
regardless of what wailing banksters proclaim, there is life after default. fuck the euro, central banksters, and the totalitarian politicians doing their wills....
And this is exactly why I believe that they will eventually resort to attempting mass extermination of people... as a burnt offering (ahem, holocaust) to their one-eyed god.
They burn sacrifices to their dicks? Who knew?
That's a mighty Icelandic attitude...
"Yes - it can be done, especially since one is forced to produce in order to consume..."
Hey, hey, hey, hey, hey....HEY!!!
EASY on that stuff...wouldn't want anybody to be gettin' any IDEAS now, would we?
Yup, in the end it always comes down to that, doesn't it. There will be many a welfare lard ass on BOTH SIDES of the economic spectrum, that are going to learn that lesson the hard way...
It wil be interesting to see who the elitist globalist deficients con into attacking Volos militarily. After all one cannot tolerate examples of people who are successful at throwing off the evil banking empire (doom. doom, da doom doom ...). I am surprised Iceland has not been infiltrated and attacked by (what do they call the Al Qaeda dupes in Syria?) freedom fighters.
Maybe Al Qaeda will magically appear in Volos.
I lived in a small town that had an informal barter system.
We traded everything from raw milk to legal assistance.
Fortunately, those who drank the raw milk never needed the legal assistance.
Homebrew, hay, sewing, gardening, construction, fruit/veggies, chiropractics, massage..damn near everything but traditional medical care.
It was (still is) a thing of beauty.
Keep the name of your town secret. Or the Feds will descend like a plague of locusts and the town will owe millions in taxes.
Good luck with your endeavor. More power and freedom to you.
Yes, you're right.
I moved, but is is still going strong from what I hear...it's been operating for decades and has an institutional memory that fails when authorities come close.
Do I have to report to the FED if I bring salad to a grill party and get some beers in exchange? We do it on a regular basis.
You didn't mention weed, but I'll still guess northern California
No. Not NoCal. You'd likely be surprised.
I was never in the market for weed myself, so I dunno. Neither did anybody else.
Good to hear that barter systems can thrive elsewhere. I've only seen them active when intertwined with the black market. Weed makes up a huge part of NoCal's economy, and some trickles down to the barter system. Maybe it's a safer means of exchange? [To Utah data center: I don't live in NoCal or make my living illegally].
Right on Flattrader. Some people realize what they produce can actually be traded for something they need. I have done it as well. You do not always need greenbacks if you and the other person can come to a mutual agreement. You all ought to try it sometime. Total freedom from the government as no money was exchanged.
I always see stop buying crap to starve the beast. Barter system is much better!
GCT,
It was quite sophisticated in that in addition to the barter system, a buying co-op had been established for things that couldn't be produced by individual members and services needed from the outside...but only to a limited extent.
In the end, we were purchasing things at just slightly above wholesale...to cover the costs of running the co-op and any profiit went back to the members.
Funny how communities can flourish... but only in absence of a strong government.
Are there good resources or teaching tools to learn how to set up a local barter system?
Try alternativemarkets.org Pretty sure that is the address.
The system was established when I made the scene. Like minded people invited like minded people.
After a few successful barter trades you suddnely discovered you were part of a vast network that crossed county borders. Referrals were easy. Three-way trades easily arranged over time.
This was strictly word of mouth. Formal records didn't exist.
The folly is NOT in failing to keep a second set of books...The folly is in keeping ANY books at all.
Without records, everything is at best hearsay, rumor, innuendo or BS.
Just start talking to people to see what they can do and what they are willing to do for others.
Citizens of Volos,
We salute you!
Who run Bartertown?
In the situation I was involved in--no computer, no records, nobody knew nothing...and everything.
If you screwed a fellow member, you were out...shunned.
Kinda Amish.
Once again, another example of a functional community.
Spartans did not carry/own money In fact, only slaves were allowed to carry money. Sounds vaguely familiar.
Spratans just beat whatever they wanted out of you, or killed you.
Send in the the Gestap... i mean german tax collectors.
I wonder how many credits the guy/gal running the central computer has, and if people are being paid in said credits to run the operation?
Non the less, it is nice to see this happening.
It will be interesting to re-discover Life before the internets.
I just 'bartered' for auto repair work, an old Ruger ranch rifle .44 mag I really didnt have much use for, trade, straight up.
If to a good man, there could be future benefits to you on the other side of the deal as well.
He's my long time friend from grade school.
I'll trade you three 9mm bullets for one .45acp bullet. Or Bullets for bread.
Exactly, I have a few .38 specials and ammo set aside that I picked up super cheap from pawn shop searches. If and when things get really bad, what will 1 .38 and 50 rounds for it be 'worth' to someone without? A truck? A bunch of food?
the worst and most terrifying nightmare for elite bankers and politicians is people discovering their ability to create value and exchange these values with each other and hence discover that there is no absolutely no need for the leadership as we know it.
People MUST NOT discover their abilities and gain trust in themselves, they shall be frightened and fearful and spend their lives in submissive agony, awaiting help from 'above' to get them out of the mess they are in.
And that's why all kinds of silver was accepted in the early USA. It had an intrinsic value and was easy to carry around and divide (pieces of 8).
Silver was the People's money until the evil bankers voided it, I think, in 1873.
Same thing in Argentina a few years ago:
http://www.youtube.com/watch?v=dsn_cCXHAvE
According to the blogger FerFAL, these barter markets eventually switched over to normal currency and their "creditos" became worthless.
Whatever Greece, 2009 is calling.
Well these Greeks in the town of Vanos must be a bunch of raving anti-semites to pull such a dangerous and subversive stunt.
'Anti-semites', lol I knew someone would bring it up eventualy. These Greeks must obviously hate Jews.
Just the jewish mafia
These Greeks must obviously hate Jews.
I know that was sarcasm and all that... but you'd be surprised how much antisemitism has been growning in Europe, etc. over the past decade or so. It's scary.
Carl Menger, you were right. Love you.
Indeed he was.
Also, as he indicated, barter does not scale well, which is why money emerges. No worries though, it wont take very long for the banksters to be starved out. You dont produce (i.e., add to social totals), you dont eat. Bankers are many things, but productive (i.e., a social contributor) is not one of them.
Exactly :-)
Time Banks have been around for a long time and are currently being used in Maine. Hour Exchange Portland. Earn time credits for doing work. Time banking can pay unorthodox dividends, too.
Last time I heard, a Rockefeller was promoting time credits (I think he owned one of the exchanges). No thanks.
Institutionalized = Controlled
Please site a reference to your claim.
In the meantime, everyone else can check this out:
http://www.hourexchangeportland.org/howitworks.php
How do you pay pensions in barter? and how do you pay for free medical services in barter and provide for free university educations and food stamps and section 8 and disability insurance? how do you bail out too big too fail banks when you barter? how do you pay for social security with barter?
so selfish that they want to trade their effort that has market value for other people's effort that has market value without thinking of all the people who put in no effort into creating market value.
The State Of Utah Monetizes Silver And Gold .........http://www.youtube.com/watch?feature=player_embedded&v=WCbrOzhwkXc
This is what happens when bankers forget money exists to serve the economy and not them.
Beautiful. Almost brought tears to my eyes.
How do they pay for their ZNGA accounts or purchase anything through FB? LOL
Good for Volos!
In a barter town, who own fuel, rules.
Ethanol. Very versatile. A fuel, an antiseptic, a cleansing solvent, a cocktail, a Moltov cocktail, etc.
But ... but ... but if they are bartering crap, how are they going to pay for the Mercedes they import from their financing vendor?
It's only a matter of time before the bankers send in their Russian mercenaries to tear down the markets and re-introduce worthless paper currency. Coming to a town near you in Amerika.
That's some badass shit right there. Awesome.
We should try this in the USA
F*CK ben and his crappy helicopter.
The Greeks gave us democracy and the root words for many of our words.
I am betting on the Greeks!
Why are these terrorists not arrested yet?
Doing all their free trade and barter, ignoring the fiat money and institutions that promote it. They should be locked up indefinately.
On a serious note, it's quite interesting to see how people manage to go back to what always worked, when technocrats / fascists have taken over their country.
2012 potato project is planted, beyond that completed task I could care less who does not barter cause eventually everyone will, though they may not have a good or service to trade.
see what 'paper' money is?? CONFIDENCE, JUST CONFIDENCE
And guns:
Definition of FIAT 1 : a command or act of will that creates something without or as if without further effort 2 : an authoritative determination : dictate <a fiat of conscience> 3 : an authoritative or arbitrary order : decree <government by fiat>Speaking of guns. What are the gun laws like over in Greece? Are the citizens permitted to have personal firearms?
Yes/No. They have lots of stuff stored away from dubya-dubya 2 and Greek Army vs. Communists, in addition to whatever NATO stashed there during Gladio.
"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."
Greece? The first country ....? hmmmm, maybe not, please see below or, better yet, do a little research on the history of financial crisis.
Please, see:
http://www.xolimited.com/download/rpt/26.pdf
Read it, if cognitive dissonance allows you.
TEMS have been given non-profit status and encouraged by the Parliament. Imagine Congress doing that?
http://www.freakonomics.com/2012/03/22/greeces-new-currency/
when the macro solutions fail, micro solutions will present themselves and life will go on.
this town is full of evil do er individualists.
non team playing subversives.
just like the evil do er assad in syria.
it will be the turk that will correct this,treat this localized disease before it spreads.
the turk will help his pink friends in the hope he will finally be allowed to join the club.
a regional war and land grab should correct this decadence this treachery against the godly goldman sack of's.
in time this brotherly greek love will be divided conquered.
it will traded for internicine bestial violence,murder,rape theft and death.
the benign red shield will always prevail.
So, when does the Wehrmacht show up?
We get to do the "Guns of Navarone" again!
"No mas" to judefetzen!
They should totally barter for some advertising, as I'm sure there are a lot of people that would want to join an honest system like this.
Coming to Amerikuh!
How 'bout some o these here silver dimes fer those .22's Pilgrim?
Bless them for their courage. But the "Holmes" of southern Europe?
During the US depression in the 1930's many stores, companies, and municipalities issued their own scrip because Federal money was so scarce.
I am sure the Greek equivalent of the IRS is happy about this - I am assuming nobody even remotely considered paying any taxes on those barter transactions. Yet I believe there is something in the tax code of most countries to the efffect of barter revenue still being taxable (and the tax being payable in "real" currency), based on the market value of the goods/services exchanged.
Tax is on income. There is no income on an even exchange as long as you don't do something stupid like declare a "market value".
The fundamental reason profit can be taxed because it is prima facie an unfair bargain. It is the amount gained in excess of the cost. As opposed to an even exchange.
Interesting. I agree with you. Now, here's how the IRS looks at things:
http://www.irs.gov/taxtopics/tc420.html
Local solutions bitchez!
Haggling bitchez!
Nothing to do with Greece but surprised I haven't seen it mentioned anywhere. Syrian gold at 15% off? I don't get it.
Syria selling gold reserves as sanctions bite: sourceshttp://www.reuters.com/article/2012/04/18/us-syria-gold-idUSBRE83H0RZ201...
way to shine a light on them... this will probably get shut down sooner than later.
She said, "This is how it worked before money was involved."
Really. Must be a tax related issue.
As if a thousands year old society needs the ECB to survive. As if a young "Democracy" needs a central bank either.
The whole world has converted to Barter.
Has anybody noticed how much electronic money gets created, goes to Primary Dealers, goes back to the Fed computer and never leaves the computers at the Fed and ECB?
Nobody wants that money. China and Brics and doing Swap bilateral agreements that are basically Barter agreement.
WORLD BARTER FOR YOU. That's what Fed+ECB+BOJ+BOE+BOC did for you.
Most people's ideas about debt and barter are dead wrong , check out
Debt the first 5000 years
http://www.amazon.com/Debt-The-First-000-Years/dp/1933633867
maybe now the anti Ronulan's can catch a wake up.
The latest i'm hearing is about Ron Paul wanting a '1 world gold currency'. Such BS.
This 'tem' is EXACTLY what Ron Paul is wanting to LEGALISE... COMPETING currencies. These people have spoken, this is what they choose to transact in. Yes its still paper/digital, but its chosen by these folks to trade in.
I'm sure if you went there with silver or gold coins they would also provide services to you in exchange.
Whatever your opinion on gold/silver though, the main point is FREEDOM TO CHOOSE.
Coming to a theater near you soon!
.
Barter system is much more efficient than generally claimed. For starters, there is no inflation. The main benefit comes from pushing the government out of equation. Value added taxes in Europe are generally around 19-23%, so by a barter system one can easily save 20% vs. fiat money. That evens out nicely some of the inefficiencies of bartering.
The governments keep on pushing fiat money, because it enables them to leech more efficiently. After all, somebody has to pay for that cognac and crème brûlée.
Who runs Barter Town? MASTER BLASTER!
Great idea - at the same time you can save taxes - something what is very popular in Greece.
For sure the Germans will compensate even that.