# Crédito

The Crédito was a local currency started on 1 May 1995 in Bernal, province of Buenos Aires, Argentina, on a garage sale, which was the first of many neighbourhood barter markets (mercados de trueque) that emerged in Argentina during the economic crisis. The operator of this currency was the Red Global de Clubes de Trueque Multirecíproco (RGT), literally "Global Network of Multi-Reciprocal Exchange Clubs" or more simply the "Global Exchange Network" (GEN). The currency started as a Local Exchange Trading Systems (LETS) system but was soon replaced by a number of printed currencies and, after further experimentation with a LETS called nodine (from no dinero, "not money"), finally became the Crédito, a printed currency again.[1] The RGT was organized as a chaordic network of barter clubs, which had a clientele from a well-educated middle class that had fallen into unemployment during the Argentine recession of the late 1990s.