Objectives of IIMT
To solve the present economic crisis by linking it to the resolution of the climate crisis
To introduce the concept of the new international currency of the Tierra that is based upon not upon a basket of major currencies, commodities of the Consumer Price Index, but upon carbon emission permits (CEPs). These CEPS would be allocated to every adult in the global North and South using the www.capandshare.org approach. The Tierras are to function as a means of international exchange between governments and business, to represent a store of value based upon the carbon price of the world carbon market, to serve particularly as a reserve currency, and, most importantly, as the accounting unit of carbon credits and debits.
To work towards the establishment of the Terra International Monetary Union (TIMU) which will go into effect after the ratification of the proposed TIMU Treaty by at least three quarters of the 192 UN memberstates.
To introduce a modified balance of payments where carbon balances in the form of Tierras are added to the many existing account lines of a regular balance of payments schedule with its current account and capital flows balances.
To have a world central bank (WCB) established with administrative, monitoring and credit creation functions.
To promote a national monetary structure where besides Central Banks and, in the United States, the Federal Reserve system and its national currency many other monetary systems such as time-dollars and other LETS systems are in existence.
Each participating member state will establish an independent Tierra Administrative Board (TAB) that would be responsible for fulfilling that nation’s TIMU Treaty obligations, particularly the administration of its Tierras.
To engage in other activities that would promote IIMT’s mission including support of initiatives such as the International Clearing Bank, Global Green Dollars, INTOR , Terra and similar efforts of non-emission based international reserve currency concepts as steps towards the emission-based currency concept of the Tierra and its international and national architectures.