Terra (proposed currency)

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:

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 (Europe - Money of peace), was given birth. The idea was enthusiastically picked up by Lietaer during an educational journey.