NEMO Green DTS
Discusison
A policy proposal by By Jean-Christophe Duval:
"Unlike the IMF's Special Drawing Rights (SDRs), which are a global currency distributed in return for debt, the NEMO Green DTS is a temporary, or even ephemeral (because immediately converted into national currency), currency distributed as income in return for recognized commons regeneration activities and their contributions to preserving ecosystem services and sustainability. Unlike traditional money philosophies, NEMO Green SDRs are not backed by materials or marketable goods and services, or debts. Instead, they represent the essential basis of everything ; if the com- mons collapse, so does this foundational base and, consequently, the entire economy.
• Unit of Account : NEMO Green SDRs are units of account backed by urgent and essential activities that are overlooked by standard market mechanisms. Monetizing these non-market activities eliminates the need for future taxation, freeing us from the "economic Sisyphean myth" previously described and providing governments with greater budgetary flexibility.
• Purpose and Verification : NEMO Green SDRs compensate for extra-financial activities and the regeneration of the commons, such as ocean depollution, reforestation, biodiversity preservation, and fulfilling UN sustainable development goals. These services are defined by precise specifications and undergo rigorous and impartial verifications.
• Conversion and Income : NEMO Green SDRs are converted by NEMO SWIFT into national currencies at a fixed exchange rate and are delivered directly as income to the demand deposits of service providers, similar to conventional international trade operations.
• Ephemeral Existence : The existence of NEMO Green SDRs is ephemeral, only spanning from their issuance to their conversion/destruction by NEMO SWIFT. They can be considered as units of account issued by the virtual country of the GAIA Economic Symposium and are destroyed upon conversion into a service provider’s national currency, much like other currencies during foreign exchange or international trade operations.
• Exchange Rates and Distribution : Fixed exchange rates between NEMO Green SDRs and national currencies follow the NEMO Exchange Standard (parity 1:1). These rates also de- termine the exchange rates between the NEMO Exchange Standard and national currencies. The quantity of NEMO Green SDRs distributed annually is decided democratically by the GAIA Economic Symposium, central banks, and national governments, and distributed ac- cording to national quotas. These criteria consider the demographic situation of nations and the urgency of transforming their productive infrastructures, proposing growth for emerging countries and strategic degrowth for developed nations."