Fixed exchange rates

Floating exchange rates are subject to speculation and do not serve trade relations well. Commerce wants predictability and stability in  order to engage in strategic planning. That's one reason that former Belgium banker Bernard Lietaer proposed an international reserve currency that would be pegged to a basket of commodities and that American economist Judy Shelton wants a return to the gold standard. His Terra unit is fundamentally different from IIMT's Tierra unit because the latter is  carbon based and is able to provide an institutional mechanism for transferring funds from the global North to the global South. What both approaches do have a common is their emphasis on the need for fixed exchange rates.