Euro Architect's Solution To Jump Start Economy
Jump Starting the Economy - Key Euro Architect Offers a New Solution -
FOR IMMEDIATE RELEASE
Dunne, Director Public Relations
(303) 442-4330 Jacqui.Dunne@accessfoundation.org
Interlocken, CO, (October 29, 2003)--A new monetary initiative was launched today that will play a significant role in getting the United States, Europe and Japan out of recession.
This internet-based Trade Reference Currency (TRC)™ was announced by renowned finance and currency expert and author Bernard Lietaer, who was one of the key architects of the ECU -- the convergence mechanism that lead to the Euro. The TRC™ is poised to dramatically change barter and counter-trade along with creating, stability and predictability in the financial and business sectors by providing a standard of value for international trade. This will be the first time since the gold-standard days that a robust international standard of value that is inflation-resistant would become available. Most importantly, it will resolve the current conflict between short-term financial interest and long-term sustainability. This mechanism would work in parallel with national currencies. Finally, this proposal would need no new legislation or international agreements to become operational.
"This supra-national complementary currency is uniquely designed, unlike national currencies, to provide a stable international mechanism for contractual and payment purposes worldwide. This mechanism would automatically work to reverse the boom and busts of the business cycle and stabilize the economy by providing more cash during downturns, and cooling off inflationary pressures in the peak of an upturn," said Mr. Lietaer, addressing the Future of Money Summit. (www.futureofmoneysummit.com)
Three recent events over the past 30 years have fueled monetary instability globally. The Baker Plan, the uncoupling of the dollar from the gold standard and 24/7 computerized foreign trading that have brought about no less than 87 monetary crashes in the past quarter century.
"This mechanism has the potential to address such diverse issues as joblessness, developing nations' debt and ever increasing environmental concerns," he added.
"Many have a wait and see attitude to innovative proposals of this nature, but they shouldn't with the Terra. The TRC™ reduces risk, stabilizes the world economy and is a more cost effective approach for international business," said Takashi (Tachi) Kiuchi former CEO of Mitsubishi Electric America and Chairman of The Future 500.
This project is an initiative of the ACCESS Foundation, an international non-profit educational organization dedicated to the betterment of humankind through the understanding and use of complementary monetary innovations. For more information visit: http://www.terratrc.org.