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Bob Meyer
 

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Electronic Barter Network Will Fuel World Economy

The competition for capital is going to be dramatic as the enormous needs for infrastructure development of the 3rd world (lesser developed countries) grows in the coming millennium. More barter is virtually assured as the need for trillions of dollars comes to pass. And the emerging sophistication of the commercial barter industry could well be an important adjunct in providing additional "capital" around the globe.

The use of a commonly used unit of account (trade dollar) and adequate computing power, to make sure all transactions could be settled immediately, would provide a liquidity and financing tool of unimaginative magnitude.

Today's major countertrade deals, now bilateral (one-to-one) trades, are often exceedingly tedious and difficult to finalize because of the nature of such constructive, rigid efforts. However, the rudiments of a major worldwide barter currency is developing. There are several possibilities.

The International Reciprocal Trade Association's "Universal Currency" is the most developed, and accepted by barter companies in 23 countries. With a few changes it could be expanded to incorporate other entities.

Multilateral trading possibilities, for the small business owner as well as the Fortune 500 companies are within the burgeoning commercial barter industry's grasp. The creation and development of an electronic barter economy is going to stagger even the most optimistic visionary.

A worldwide barter currency, backed by goods/services and uninhibited by borders, could become larger than any country's central bank. (The coming issue of BarterNews will expand on this staggering notion.)