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153 sats \ 0 replies \ @didiplaywell OP 24 Jul \ parent \ on: How People Experiences The Path Towards Hyperinflation econ
Exactly like that, barter economy became essential. Some barter groups even developed their own internal currency, famously "The Barter Club" in Buenos Aires. It was simply a black and white printed paper, and still stronger than the official currency since it use in closed trusted circles prevented forgery for a long time. When the club expanded, the ability to control emission diminished, and some bad actors started to introduce fake currency. Guess what the result of introduction of unsupported money caused! Inflation. The Buenos Aires "Barter Club" should be a case study.