Mises Wire

Venezuela Turns to Barter

Global EconomyMoney and BanksMoney and Banking

Blog07/19/2018

As planned by Chavez, barter is indeed replacing currency transactions throughout the economy but with hardly the results the late socialist envisioned. 

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Venezuela's New Cryptocurrency Is not Really "Backed by Oil"

Global Economy

Blog03/09/2018

If a currency can't be converted on demand into the underlying commodity, it's not "backed" by that commodity. 

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