The Barter System

RICHARD GIEDROYC

• Is there a place where barter rather than a monetized economic system exists? A direct trade of goods to get services is still practiced even in the United States. Iran and China are considering bartering oil for other goods. When bartering is practiced privately between two parties, no one else is aware of the transaction. There are organizations in the United States through which you can barter. • Are the barter organizations in the United States legal, and can anyone participate? The organizations are legal and report transactions to the IRS for tax purposes. Among these groups are Craigslist.org, BizX.com, GoSwap.org, Listia.com, and BarterNetworkInc.com. Understand none of these networks are attempting to skirt taxes but are a substitute for monetizing financial transactions. • What does the IRS require if…

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World Coin News (Digital) - 1 Issue, March 2025

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