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The Rise of the Barter Economy

With banking systems reeling, credit shrinking and tariff walls rising, customary trade channels began faltering in 1932. In their place, global and local barter economies developed.

“Following the lead of the United States and Brazil, which traded wheat and coffee, Germany has begun to obtain coffee in exchange for coal, Danish cattle for agricultural implements, and Russian petroleum for electrical machinery,” the Wall Street Journal reported in September.