If tings get worse do you think bartering will come back?

Bob Z

If tings get worse do you think bartering will come back? I believe they may have brought it back in Brazil or Argentinia a couple of years ago?

Could it happen here?

Melange

Bob Z wrote: »

If tings get worse do you think bartering will come back? I believe they may have brought it back in Brazil or Argentinia a couple of years ago?

Could it happen here?

Nope. It would require a complete and utter collapse in the store of value that people place in the Euro as a means of exchange, which I can't forsee happening - the Euro is arguably the most stable and secure of the world's major currencies.

bigeasyeah

It still happens!

Bob Z

Melange wrote: »

Nope. It would require a complete and utter collapse in the store of value that people place in the Euro as a means of exchange, which I can't forsee happening - the Euro is arguably the most stable and secure of the world's major currencies.

I didnt meant the collapse of the euro. Bartering already exists. What i mean is would it take of in a bigger way

Melange

Bob Z wrote: »

I didnt meant the collapse of the euro. Bartering already exists. What i mean is would it take of in a bigger way

And I didn't mean the value of the Euro relative to other currencies on the forex markets - I meant the perceived value that Irish people place in it as a commodity that can be traded for goods and services. Unless that perceived value goes out the window (or Ireland suffers from a bout of severe inflation), bartering will not take off.

ednwireland

certainley happens on a local basis i do work for my neighbours and they help me when i need something done (and i get free eggs !)

rivermonkey

I have heard before that bartering is illegal, as it cuts out the taxman.
No VAT, excise or other duties are paid in a barter transaction.
This has been an issue for land/property transactions where stamp duty is due.
I remember a while back reading about a special scheme allowing farmers to consolidate or swop holdings without tax penalty. This was to allow for people who had part of their farm cut off by a road or something to do a land-swap with a neighbour, for example.

Sponge Bob

rivermonkey wrote: »

I have heard before that bartering is illegal, as it cuts out the taxman.
No VAT, excise or other duties are paid in a barter transaction.

They just launched a local currency in Ballinasloe . I take it they care less about the VAT man

http://www.ballinasloecreditunion.ie/LETS.html

One of the major advantages to employers of using the LETS is that they can give staff up to 250 euros P/A worth of the new currency tax- free!

wah HAY !!

ejmaztec

rivermonkey wrote: »

I have heard before that bartering is illegal, as it cuts out the taxman.
No VAT, excise or other duties are paid in a barter transaction.
This has been an issue for land/property transactions where stamp duty is due.
I remember a while back reading about a special scheme allowing farmers to consolidate or swop holdings without tax penalty. This was to allow for people who had part of their farm cut off by a road or something to do a land-swap with a neighbour, for example.

I think that it is legal provided a market value can be placed on the transactions, although the Revenue Commissioners would probably draw the line at full-time barterers offering to clean the government windows to settle a tax-bill.

jhegarty

A credit union printing it's own money.

Anyone have a number for the finical regulator ?

ejmaztec

jhegarty wrote: »

A credit union printing it's own money.

Anyone have a number for the finical regulator ?

He's probably already got some of theirs, no need to remind him.