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What makes a mutual credit accounting system, into something like a money system is the contractual obligation of account holders to close all accounts at zero, which is to say, to depart the system neither owing nor owed. The credit theory of money says clearly that money does not need to be, or be backed by, commodities like gold.
Silent trade, also called silent barter, dumb barter ("dumb" here used in its old meaning of "mute"), or depot trade, is a method by which traders who cannot speak each other's language can trade without talking. However, Benjamin Orlove has shown that while barter occurs through "silent trade" (between strangers), it occurs in commercial ...
Economists refer to a system or network that allows trade as a market. Traders generally negotiate through a medium of credit or exchange, such as money. Though some economists characterize barter (i.e. trading things without the use of money [1]) as an early form of trade, money was invented before written history began. Consequently, any ...
Although any accounting framework can be used, there is one approach that fits naturally for multilateral exchange. It is the simplest possible database/spreadsheet design, single-entry bookkeeping rather than double-entry bookkeeping. [citation needed] All accounts begin with a balance of zero, meaning they owe nothing and are owed nothing.
An association of businesses formed for the purpose of trading with one another, using mutual credit to keep account. Typically the lead business will run the exchange, performing a brokering services and providing (or renting) an online marketplace for members to meet their reciprocal needs and register their transactions.
A traditional economy is a loosely defined term sometimes used for older economic systems in economics and anthropology. It may imply that an economy is not deeply connected to wider regional trade networks; that many or most members engage in subsistence agriculture, possibly being a subsistence economy; that barter is used to a greater frequency than in developed economies; that there is ...
The mentioned six items are derived from a hadith [citation needed] i.e. gold, silver, dates, wheat, barley, and salt and were used as money in barter system. As the items mentioned in hadith, therefore, also known as Sunnah money.
Round-tripping, also known as round-trip transactions or Lazy Susans, is defined by The Wall Street Journal as a form of barter that involves a company selling "an unused asset to another company, while at the same time agreeing to buy back the same or similar assets at about the same price."