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May
27

Monetary transformation in the short and long term

Post By gaia1 in Tierra Currency

 

 

 

The title of book that I have been working on for almost half year called TIMU: The Transformative Approach to Monetarily  Solve the Economic Crisis by Solving the Climate Crisis  has been changed into The Tierra Solution: A Monetary Proposal to Deal with the Ecological and Financial Indebtedness in the Global North and  South. This change in title points to a new focus in the book where monetary transformation is shifted from the long term or ultimate goal of a transformed international monetary system to the  short-term goal of having the carbon-based international reserve currency of the Tierra accepted as a main source of funding for development and mitigation and adaptation measures in the global South. Thus, both countries in the global North and South can settle their ecological and financial accounts by using elements of an international monetary system. This Tierra Solution is based upon the principles of fairness and sustainability. It is fair because the ecological debtor countries in the global North have to settle their debts by transferring resources to ecological creditor countries in the global South. It is sustainable because the Tierra becomes part of the carbon account in a modified balance of payments and thus institutionalized.