Patacones were issued by the govt. of Buenos Aires province. While they are widely accepted,they still are a provincial money.
There is another phenomenon in Argentina with a currency (the unit of which is called a "crédito") which has been created by a very extensive network of barter clubs (Red Global de Trueque, http://trueque.org.ar). These clubs were formed as a popular response to the recession. All sorts of goods and services are bartered in these clubs, which are distributed all over the country. It has more than 350,000 members and it is estimaded it did more than $600 million (pre devaluation) in business last year. The currency used in this network is now being accepted by a few municipalities in the interior of the country for tax and other service payments. What is perhaps interesting here is that this money existed long before any local state recognized it, and it is now becoming acceptable for tax purposes. This does raise many interesting questions regarding who controls money, the role of the state and popular organizations, etc. There also many examples (if more localized) in the US, Syracuse comes to mind. Alan At 1/9/2002, you wrote: >I just was handed a patacon from someone who just returned from >Argentina. The first thing that hits you is that it looks so much like >their peso. The patacon was issued and used to pay government worker >salaries. They key state power here was the declaration that patacones >would be accepted in payment of taxes. Of course, then there is another >state power implied there--the power to tax. An the power to issue the >patacon. And the power to set prices for goods and services the >government purchases. So any state power theory of money must recognize >at least these powers: 1) power to tax; 2) power to issue currency; 3) >power to declare "public receivability" (what will settle obligations at >state pay offices); 4) power to set certain prices. This is straight >chartalist monetary theory. Mat _________________________________________________________ Do You Yahoo!? Get your free @yahoo.com address at http://mail.yahoo.com
