Or just definition for exchange of currencies.
In every State, country or region you define what need avarge person for eating and drinking in one day. So the wort of that currency is: Cost of liveing/Day
You than calculate loans and prices according to that useing currency exchange rates.
This currency would guarantee:
- Everyone get fair payment for accomplished work, non depending of country, politic or any other circumstances.
- International trading is not depending on currencies exchange values, which are subject of speculations and political interests.
- Ecual development of the world.
Obviously there would be plenty of obstacles on way to implement this currency:
- Speculators (institutional, political and economical) wich have any kind of benefits from current state will oppose it. It would shake international markets in their roots!
- Difficulties to define “cost of liveing”. Guidelines should be very definite, but adaptable to local circumstances at same time.