Terra (proposed currency)
 |
TRC | |
|---|---|
| ISO 4217 | |
| Code | None theoretical currency only |
Terra (the Trade Reference Currency, TRC) is the name of a proposed "world currency". The concept was revived by Belgian economist and expert on monetary systems Bernard Lietaer in 2001, based on a similar proposal from the 1930s.
The currency is meant to be based on a basket of the nine to twelve 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 (English: Europe - Money of peace), was given birth. The idea was enthusiastically picked up by Lietaer during an educational journey.[citation needed]
See also
[edit]
- ISO 4217 currency codes
- History of money
- World currency
- Commodity currency
- International dollar
- Stelo, a 1946 alternate currency intended to be stable by linking to the price of bread in the Netherlands.
References
[edit]Bibliography
[edit]- Lietaer, Bernard (2001). The Future of Money. London: Century. ISBN 0-7126-8399-2. OCLC 43633316.
- Lietaer, Bernard (2002). Das Geld der Zukunft. Sonderausgabe [The Money of the Future. Special Edition.] (in German). München: Riemann Verlag. ISBN 3-570-50035-7. OCLC 76371515.
External links
[edit]- The Terra TRC white paper
- L'Europa/die Europa – das Geld des Friedens
- Studienreise Hr. Lietaer im Heimatmuseum Wörgl
Further reading
[edit]- Rahman, Abdurrahman Arum (13 December 2021). Initiating a True International Currency. pp. 260–261.
- Corporate and Social Transformation of Money and Banking: Breaking the Serfdom. Springer. 29 October 2010. ISBN 9780230298972.