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2002
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Jean-Marc Clerc, « La question de la légitimité monétaire : le Patacón argentin », Revue Tiers Monde, ID : 10.3406/tiers.2002.1630
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Jean-Marc Clerc — The question of monetary legitimacy : The Argentina Patacon case. During 2002, more than twenty parallel currencies are in circulation in Argentina. These are debt bonds used to pay public servants ;. yet they are not converted into local currency despite their potential liquidity and the remuneration they may procure. The Argentina crisis shows that the acceptability of these titles expresses a lack of reserve values for two reasons : as merchandises, they are structurally dominated by national money, and yet the latter no longer has the confidence of agents, due to its loss of social and political legitimacy.