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Monday, December 24, 2007

Next to new currency

01.04.07 I wrote in the Oil & gas money post:

"Imagine someone has created electronic money based on oil & gas, which are beyond central bank regulations. Why beyond? Because this oil & gas money is not for making loan based dependency. It's for trading any goods and services (in result) and for the appropriate transactions, only for that.

Here is how it might work.

Need oil & gas? Pay e-money. Don't have it? Give us this and this in exchange ...

As a matter of fact if some wealthy clans could create 100 years ago the world currency and loan based banking, why another structure can't emerge?

The main question is - who can even start thinking about it and where - in Russia, in the Arabic world, in Venezuela, in the US, EU ...?"

22.12.07 RTE News reports:

"Chavez wants to extend barter scheme

Venezuelan President Hugo Chavez has proposed extending a barter scheme used by Cuba to other Caribbean and Central American nations to help them pay for oil supplies with products and services.

Venezuela sends nearly 100,000 barrels of subsidised oil a day to Havana and in return, thousands of Cuban doctors and teachers offer free services in Venezuela.


Also you can read "Venezuela's bad example" by Alberto Cruz.

Mr. Hugo Chaves thinks and acts quickly. But barter scheme needs an infrastructure to grow into new currency.