Word: barter
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...private companies and then reselling most of it back to them at scarcity prices, the government was ringing up a fancy profit. Venezuelan Oil Czar Juan Pablo Perez Alfonso, in a deal that would give Argentine State Trader Miguel Miranda a dose of his own medicine, was ready to barter 2 million barrels of Venezuela's high-priced oil for Miranda's expensive beef. Oil-starved Argentines thought the medicine not too bitter...
...Britain's dollars and expendable gold reserve will be exhausted by midsummer. Then Britain will "be driven back upon a policy of immediate self-preservation." Cripps meant that, without further U.S. aid, Britain would have to cut off U.S. food, raw material and machinery imports, fall back on barter pacts with other countries...
...incorrect, too, to say that the General Agreement adds up to more barter and bilateralism and, probably, to a reduced flow of goods. It is true that this Agreement, in itself, will not suffice to reconstruct economies disrupted by the war, nor to correct the serious imbalance that now characterizes world trade. For this, other measures are now being considered by the countries of Western Europe and by the Congress of the United States. Until reconstruction is really under way and the present imbalance in trade substantially reduced, a large measure of bilateralism and even of barter will undoubtedly persist...
...draft [free trade] charter." Then Wilson returned to London and was even more specific: "We shall be working on bilateral agreements instead of multilateral." This meant that Britain, the second greatest trading nation in the world, would still be tied to the ideas of blocked currency and barter agreements that had been developed by Hitler's Dr. Hjalmar Schacht...
Sweltering Paris was deserted except for the Boy Scouts, who were holding their first Jamboree (see EDUCATION) since the war, and the economists, who were trying to implement the "Marshall approach." The Scouts got on fine; their favorite pastime was the barter of their various treasures-scouting insignia, penknives, hats, fountain pens, a flute, a flock of horned toads (brought by delegates from Texas). Essentially, the economists from 16 European nations were engaged in the same activity...