New Money for a New World by Bernard Lietaer & Stephen Belgin

Author:Bernard Lietaer & Stephen Belgin [Lietaer, Bernard & Belgin, Stephen]
Language: eng
Format: epub
ISBN: 9780983227403
Publisher: Qiterra Press
Published: 2011-12-15T00:00:00+00:00

When the U.S. dollar started playing the role of a global currency, these priorities were reversed. As Paul Volcker stated when he was Chairman of the Federal Reserve: “Americans are paying my salary, so I am managing the dollar to the benefit of America.”275 We claim that both these outcomes are undesirable.

The Terra solves the quandary between national and global interests by leaving all nations free to manage their currency as they please, without any detrimental effect to their own national economy or to that of the world. By virtue of being privately issued, with all participants enjoying equal benefits of use, participation in the Terra system eliminates the lopsided effects of granting preferred TRC status to any single nation or group of nations.

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