THE FUTURE OF MONEY Bernard A. Lietaer - library.uniteddiversity ...

exchange value is expressed in terms of the value of that commodity;
and 'backed' by a commodity when the currency is in fact a claim to a
given quantity of that commodity (which requires to have a stock of
that commodity on hand to meet such requests).
World Bank: Sister organisation to the International Monetary Fund
(IMF), also located in Washington DC. Initially, besides the IMF, two
other organisations were created at Bretton Woods: the Bank of
International Reconstruction and Development (BIRD) and the
Agency for International Development (AID). The World Bank arose
from combining these latter two international organisations. Its main
activity is to finance large-scale development projects in the Third
World.
Website http://worldbank.org/
World Trade Organisation (WTO): Organisation succeeding to the
General Agreement of Tariffs and Trade (GATT) which is in charge of
negotiating and settling international trade issues.
Website http://www.wto.org/
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