Terra (proposed currency)

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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.