Terra (currency)

Terra (The Trade Reference Currency, TRC) is the name of a possible "world currency". The concept was proposed by Belgian economist and expert on monetary systems Bernard A. Lietaer in 2001, based on a similar proposal from the 1930s.

The currency is meant to be based on a basket of the 9-12 most important commodities (according to their importance in worldwide trade). Lietaer opines this would provide a currency that wouldn't suffer from inflation:

Terra = reference unit defined as standardized basket of key internationally traded commodities & services.

Example: 100 Terra =
  1 barrel of oil
  + 10 bushels of wheat
  + 20 kg of copper
  ...
  + 1/10 of ounce of gold

NB: any standardizable good or service can be included.
Similar stability to gold standard, but with basket instead of single commodity (more stable than any one component)...

Terra is Inflation-resistant by definition.[1]

The basic principle emerged from early concepts presented in an article in the French newspaper "Le Fédériste" on 1 January 1933. The idea to establish a "L'Europa – monnaie de la paix", in English "Europe - Money of peace", was given birth. The idea was enthusiastically picked up by Lietaer during an educational journey.

See also

References

  1. ↑ Bernard Lietaer. The Future of Money New Ways to Create Wealth, Work and a Wiser World
  • Lietaer, Bernard (2001). The Future of Money. London: Century. ISBN 0-7126-8399-2. OCLC 43633316.
  • Lietaer, Bernard (2002). Das Geld der Zukunft. Sonderausgabe. München: Riemann Verlag. ISBN 3-570-50035-7. OCLC 76371515.

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