Business and Personal Finance Dictionary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 

• GLOBAL REFERENCE CURRENCY (GRC)
  
  A proposed currency which would use a fixed basket of a dozen commodities as a reference and backing of a currency designed for international trade. The cost of storage of the commodities backing would be passed along to the bearer, and functions therefore as a built-in demurrage charge. This features reverses the tendency to discount the future, and therefore realigns corporate financial interests with long-term sustainability.
  
  Back