A German produces energy for 35.14 kilograms of bread per day on average. However, he receives money for 76.17 kilograms of bread per day.
A Syrian produces energy for 4.19 kilograms of bread per day on average. However, he receives money for only 0.83 kilograms of bread per day.
“This economy kills”, Pope Francis wrote in “Evangelii Gaudium”. He is right. We all have to change this:
This work presents a new global currency, the “Globo” (GLO). The Globo is created to overcome the dependency on the US-Dollar (USD). It is based on the “Austrian Definition of Money” which fixes Money with a definite value:
1 Money = 3 kWh
The GLO can be launched at any time. The introduction requires only a certain exchange rate to the USD (Primary Exchange Rate). As the GLO is fixed at 3 kWh, it is defined as global energy supply in relation to global population (E/3p). The GLO thus represents the value of energy supply of 3 kWh set by the “Austrian Definition of Money”:
1 Money = 1 l water + 1 kg bread
The current global energy supply is estimated at 670 EJ p.a. and the global population at 8 Billion people. On the other hand the global GDP is estimated at 95 Trillion USD p.a.. Since the USD has no real value, there is no need to know these figures in detail. A currency like the USD can only be an approximation to reality.
Therefore it’s not necessary to own a GLO (3 kWh) and it is not even possible. One can never own energy, you can just store it. The GLO is a virtual storage with a real base (3 kWh). The GLO only serves as a real fixed base, to which all global currencies approach (including the US-Dollar). The approximation is set by every national Central Bank by estimating its own currency. All global Central Banks are entitled to set their exchange rates on a daily base. These exchange rates can always be corrected by the global markets.
By implementation of the GLO every national currency’s value is defined by the national energy production divided by national money supply (E/M). The more energy is produced by a country, the higher the exchange rate will be. The more money is issued by a country, the lower the exchange rate will be. And the more credible the data is, the stronger is the currency.
The following charts are a lineup of all countries worldwide and their relation to the GLO. (The missing countries have not provided the necessary data.) Data sources are the IEA (2019/2020 for energy supply) and the World Bank (2020 for GDP and 2022 for population). Since a currency can always just be an approximation to reality, the countries’ data doesn’t need to be necessarily the latest. (All exchange rates will anyway be corrected by the markets in case of new data.)
The charts show the national Energy Production per capita and the national GDP per capita. The value of the national currencies can thus be calculated (Energy Production p.c. divided by GDP p.c.). The last column shows the ratio of revaluation to the real value (E/GDP). The (dark) green countries are (strongly) overvalued, the yellow (and red) countries are (massively) undervalued. The estimated Primary Exchange Rate of the USD to the GLO according to the provided global data is set at 1.6629.
The introduction of the GLO as a new objective global currency is easy. Once the counties have agreed, the GLO can be launched at any point in time by any Primary Exchange Rate to the USD. The data suggests that this Primary Exchange Rate should currently be in the range of 1.45 to 1.75. From that moment on all global currencies can fix their value related to the GLO instead of the USD. Thus peace will finally be possible.
Peter H. Wurm
Vienna, July 31, 2023 CE
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Download Chart I: GLO sorted by countries:
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Download Chart II: GLO sorted by revaluation:
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Download Chart III: GLO calculated in kilograms of bread per day:
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Download IV: GLO Frontpage:
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Vienna Calling 