Master Blaster, please report to Thailand, you’re needed in Bartertown.

Above, anti-bartering activists take to the streets to insist on a return to currency-backed dealings. FT Alphaville reports this morning that Thailand and Iran have both foregone the money system and are straight-out swapping oil for food:

Thailand on Monday said it planned to barter rice for oil with Iran in the clearest example to date of how the triple financial, fuel and food crisis is reshaping global trade as countries struggle with high commodity prices and a lack of credit.

Expect to see more of this in the future, as emerging-market currencies flounder due to falling commodities prices, flight from their markets, redemption calls hitting the few hedgies still invested in the emerging markets, failure to accomplish much of anything by selling dollar reserves and slashing interest rates, lunar cycles, Arthur Laffer’s declaration of the death of prosperity, etc, etc. Unfortunately, Murray Head was not available for comment on how the new barter economy will affect one night in Bangkok.