Translation (google):
After Milei decree: Argentine companies will be able to pay their employees with milk or meat instead of money Chancellor Diana Mondino confirmed that employers and workers will be able to agree on contracts in any type of currency, including bitcoins, kilos of beef or liters of milk.
The Argentine government announced a series of economic deregulation measures that will come into effect starting this week, among which is the possibility of agreeing on contracts in any type of currency, including food such as beef or milk.
The information was provided by the Minister of Foreign Affairs of Argentina, Diana Mondino, who announced on Twitter that “we ratify and confirm that in Argentina contracts can be agreed in Bitcoin and also any other crypto and/or species such as kilos of steer or liters of milk”.
In addition, the chancellor referred to article 766 of the Civil and Commercial Code of Argentina, reformed by decree of President Javier Milei, which details that "the obligation of the debtor is to deliver the corresponding amount of the designated currency, whether the currency is legal tender in the Republic as if it does not have it.
It should be noted that this is not the first time that Argentina has had to resort to barter: already during the economic crisis of 2001, during the government of Fernando de la Rúa, the exchange of goods and services without money became popular in the trans-Andean country.
The statements on the inclusion of cryptocurrencies and other species in financial obligations, within the framework of Article 766, pose interesting challenges. The incorporation of these assets into financial legislation is a topic of global debate, and their impact on the economy and transactions requires careful consideration.
How do you think this proposal can affect the economic and financial outlook in Argentina?
Can labour notes be used as a form of exchange?
Apparently everything can, but i very much doubt they had this in mind.
Another point for my “all paths leads to communism” theory
I think you’d need state-backing for it to be anything better than scrip.
I think you would need to be quite far into the building of socialism for labour notes to be meaningfully used, none of socialist countries even arrived there so far. Otherwise it would be just currency with a fancier name.
What’s a labour note?
Basically IOU for a number of hours of my labour.
So you’d create these notes and trade them for goods and services. Then the recipient can cash those in when they need labour.
It’s been proven to work by the person who invented them. However, there’s no way to exploit workers with these, since labour is currency, so nobody uses them.