Creating global reference currency
Synonyms: Terra currency
Resolving the incompatibility between financial interests and sustainability issues
Description: A global reference currency is one both fully backed by a basket of goods and services and internationally backed with the storage costs attached to the bearer of the currency. The storage costs therefore become a demurage fee ("parking charge for money") for this currency. Demurage fee currencies have the opposite effect of positive interest rate currencies, ie they provide an incentive to consider the long-term future as financially relevant today. The use of such a currency would resolve systemically the conflict between stockholders interests and long-term sustainability.
Context: Demurage Currencies Demurage currencies (negative interest rates, not to be confused with inflation currencies) make it possible to re-align financial interests with long-term thinking. Historical precedents are dynastic Egypt and central Middle Ages in Western Europe.
Type Classification: G: Very Specific strategies