1. Price Discovery Only. Construct several reliable national and world-wide indexes of the (ownership common) stock of corporations above a certain size. Debate how to evaluate ownership shares which are not for sale, family-owned businesses, etc. Identify and choose the characteristics to be used for a common standard, and how much they probably matter to the issue. The goal is to defend an index achieving the closest possible approximation to the aggregate real value of the base economy under consideration, as well as the world economy, and to disseminate their price discoveries widely. Nations which fail to achieve this sort of index may have to be excluded from participation.
2. Assessing the Effect of Long-term Escrow. When the product seems perfected, conduct several representative trials of index funds using this standard as an escrowed partial replacement of existing standards. The purpose is to see if price distortion occurs and why, and whether the new standard is superior, equivalent, or inferior in some way. It may or may not be desirable to test these conclusions by observing an effect of termination by later re-instituting it. Permit permanent switch-over by nations who wish to do so. Try to assess the underlying forces at work tending to deviate from accurate valuation, and to quantify their power.
3. Assessing the Effect of Non-Escrow as a Short-Term Surrogate. The purpose of long-term escrow is to force these funds to be long-term investments. Short-term funds would have
4. Assessing the Effect of Combined Escrow and Non-Escrow in Various Proportions. This would include a search for evasions, arbitrage, collusion and other distorting errors in design, and attempting to correct for them, if necessary.
5. If results Seem Favorable, use the results to promote voluntary implementation by nations of this standard for the conduct of international trade as a storage of value . The whole process might take several years.