Re: The Digital Barter Economy

On Mon, 24 Jan 1994 wcs@anchor.ho.att.com wrote:

accomodate people's expectations. It's certainly better than having one group of people decide that there should be more money in the market, print it, and force everybody to accept it from them.

But this trick was said to work in Portugal sometime between the wars. Some counterfeiters got access to the printing devices used by the Waterlow Bank in London, the official printers of Portugese money at the time. The Portugese economy, obviously in need of more money on the market, prospered. (Source: verbally from a certain Mr Waterlow, grandson of the betrayed banker, Rome 1972.)