Native American Traditional blanket trade, what is the term for that? It refers to a blanket...If you have an item to trade, you lay it down on the blacket and back away. A person interested in the item can move it over/lay thier item next to it...if you wish to trade for that item, then you can pick up thier time...they yours. Sound familiar? I just can't think of what it's called. I knew it this am but am drawing a blank now.