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.

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

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