Terra (the Trade Reference Currency, TRC) is the name of a proposed "
world currency
In international finance, a world currency, supranational currency, or global currency is a currency that would be transacted internationally, with no set borders.
History First European Banknotes (17th century)
The first European banknotes we ...
". 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
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins.
A more general ...
is meant to be based on a
basket
A basket is a container that is traditionally constructed from stiff fibers and can be made from a range of materials, including wood splints, runners, and cane. While most baskets are made from plant materials, other materials such as horsehai ...
of the nine to twelve most important
commodities
In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.
The price of a co ...
(according to their importance in worldwide trade). Lietaer opines this would provide a
currency
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins.
A more general ...
that wouldn't suffer from
inflation
In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduct ...
:
The basic principle emerged from early concepts presented in an article in the
French
French (french: français(e), link=no) may refer to:
* Something of, from, or related to France
** French language, which originated in France, and its various dialects and accents
** French people, a nation and ethnic group identified with Franc ...
newspaper ''
Le Fédériste'' on 1 January 1933. The idea to establish a ( en, Europe - Money of peace), was given birth. The idea was enthusiastically picked up by Lietaer during an educational journey.
See also
*
ISO 4217
ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual ...
currency codes
*
History of money
The history of money concerns the development throughout time of systems that provide the functions of money. Such systems can be understood as means of trading wealth indirectly; not directly as with bartering. Money is a mechanism that facili ...
*
World currency
In international finance, a world currency, supranational currency, or global currency is a currency that would be transacted internationally, with no set borders.
History First European Banknotes (17th century)
The first European banknotes we ...
*
Commodity currency
A commodity currency is a currency that co-moves with the world prices of primary commodity products, due to these countries' heavy dependency on the export of certain raw materials for income. Commodity currencies are most prevalent in develop ...
*
International dollar
The international dollar (int'l dollar or intl dollar, symbols Int'l$., Intl$., Int$), also known as Geary–Khamis dollar (symbols G-K$ or GK$), is a hypothetical unit of currency that has the same purchasing power parity that the U.S. dolla ...
*
Stelo, a 1946
alternate currency
A complementary currency is a currency or medium of exchange that is not necessarily a national currency, but that is thought of as supplementing or complementing national currencies. Complementary currencies are usually not legal tender and th ...
intended to be stable by linking to the price of bread in the Netherlands.
References
Bibliography
*
*
External links
The Terra TRC white paperL'Europa/die Europa – das Geld des FriedensStudienreise Hr. Lietaer im Heimatmuseum Wörgl
Further reading
*
*
{{DEFAULTSORT:Terra (Currency)
Alternative currencies
Proposed currencies
2001 introductions
2001 in economics
2001 in Belgium