Thomas Edison, Henry Ford's commodity backed currency concept revisited
Thomas Edison "crops hold their value best over time" In 1921, Edison and Ford called for a system that used crops and a variety of other commodities as backing for the nation’s money supply.
The Terra is a global complementary currency designed to provide an inflation-resistant international standard of value; to stabilize the business cycle on a global level; and to realign stockholder’s interests with long-term sustainability. From a legal viewpoint, the Terra is standardized “countertrade” (international barter), which is routinely used for over one trillion dollars worth of transactions per year. Legislation on countertrade exists in about two hundred countries, including all the major trading nations. Introducing the Terra would therefore not require new international governmental agreements. The TERRA Trade Reference Currency is a paper / document proposal that lacks a transaction protocol like Bitcoin. Bitcoin blockchain micro payments pair perfectly with the TERRA TRC's demurrage charges to offset costs for temporary storage and transfer of goods.
The TERRA Trade Reference Currency: complementary, privately issued, demurrage-charged, backed by inflation-resistant, standardized basket of the dozen most important commodities, services and operates in parallel with national currencies. Terra The Trade Reference Currency, TRC "world currency". 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 world wide trade). Terra = reference unit defined as standardized basket of key internationally traded commodities & services. Macro to micro reporting is key to establishing a value index for the Internet of Everything IeT through use of reliable time stamping by Org_ID, URN Uniform Resource Name
The Trade Reference Currency (TRC) TM is a new currency privately issued by the TRC Alliance, with a built-in circulation incentive that could play a significant role in getting the world out of recession. Its unit of account is the Terra. It would systematically stabilize the effects on the business cycle and re-align financial interests with long-term sustainability. Terra: demurrage-charged currency acts like parking fee, incurring cost over time to holder estimated at 3.5%-4% per annum corresponding to costs incurred for storing physical commodities in the Terra basket.
Monetary Instability: Over $1.3 trillion is traded per day in foreign exchange markets, a figure that is 100-fold the trading volume of all of the world’s stock exchanges combined.
TERRA TRC White Paper http://www.terratrc.org/PDF/Terra_WhitePaper_2.27.04.pdf .
TERRA TRC LINK: http://p2pfoundation.net/Terra
The TERRA TRC focus is crops
http://sawconcepts.com/index/id39.html /
