Terra (currency)

Terra (The Trade Reference Currency, TRC) is the name of a possible "world currency". The concept is currently proposed by Belgian economist and expert on monetary systems Bernard A. Lietaer and is based on the historic proposal of L'Europa.

The currency is meant to be based on a basket of the 9-12 most important commodities (according to their importance in world wide trade). Lietaers 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.

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

• ISO 4217 Currency codes
• History of money
• World currency
• Commodity currency

References

• 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. 

External links

• Global Resource Bank
• The Terra TRC (Trade Reference Currency)
• Access Foundation Alliance of Complementary Currencies Enabling Sustainable Societies
• L’Europa/die Europa – das Geld des Friedens
• Studienreise Hr. Lietaer im Heimatmuseum Wörgl
• Interview of Bernard Lietaer on monetary policy and complementary currencies
• The Terra Currency White Paper