The Tierrra carbon-based monetary standard with Tierra as unit of account
The carbon-based monetary standard with the Tierra as it unit of account is the foundation of the Tierra Fee and Dividend system. By applying the Standard to national currencies the national currencies become convertible. As such nations do not need anymore to build up their hard currency reserves, because the costly global reserve system is not needed anymore. Another major consequence of this convertability is the reduction in currency manipulation and speculation given that the nations' exchange rates are fixed within a narrow band of fluctuations. For in-depth information on the Standard and the whole TFD consult the Yale/UNITAR formulation of September 2010 in the IIMT Documents section.