eprints.lse.ac.uk GM/PDF 2017 The social life of Bitcoin – Nigel Dodd
Historically, proposals to reform the monetary system typically involve two kinds of disintermediation of money: from banks, and from the state. Some aim only for one of these” for example, the idea of ‘100 per cent money’ (echoed more recently by – among others – the Positive Money campaign in the UK,7 Gode Penge in Denmark,8 Fair Money in Australia,9 and Betra Peningakerfi in Iceland10) followed the Chicago Plan first conceived by Frederick Soddy during the 1920s and subsequently advocated by Irving Fisher and Henry Simons in the aftermath of the Great Depression sought to take the right to produce money away from banks, 11 while Hayek’s proposals for denationalizing money (echoed more recently by various proposals for ‘monetary freedom’ or ‘free market money’) aimed at disconnecting money’s production from the state.
- digital commercial currencies blockchain, crypto – bitcoin, diem, ether, NFT etc
- eco, energy, ideal, local, next currencies
- money reform B Lietaer M Kennedy
- sovereign digital currencies – CBDC monetary US/UK monetary EU
monetary.org/ 2006 The American Monetary Institute (AMI) is a publicly supported charity, founded in 1996 to present the results of our research in a manner understandable by the average citizen; leading to monetary reforms which bring forth a greater level of economic justice and a more equitable and efficient functioning of government .By Stephen Zarlenga, circa.
monetaryalliance.org Change Our Money-Change Our World. Change the money system TO:
- We-the-People create the national money supply debt-free.
- The power and privilege of commercial banks to create our national money supply stops.
- The ownership of the Fed and its remaining operations transfers to the US Treasury.
monetaryalliance.org Academic Studies on Sovereign Monetary Theory and Reform A-Z of monetary/finance analysis + reform literature
monneta.org/en/ What problems are hidden in our current monetary system? – Money is one of the most ingenious inventions of humanity. Yet at the same time today’s money system causes serious problems:
https://www.positivemoney.eu/about-us/advisory-panel-old/joseph-huber/embed/#?secret=1bLO97NwCI
insideparadeplatz.ch 2018
„Das gegenwärtige Finanzsystem stinkt.“ Für diese Zusammenfassung der Stimmung im grossen Saal des GDI erhielt Martin Wolf, Bestseller-Autor, Chef-Kommentator der Financial Times und einer der höchstdekorierten Finanzjournalisten der Welt, spontanen Szenenapplaus. Der kanadische Ökonom William White, Präsident des „Economic and Development Review Committee“ der OECD, meinte das Gleiche, drückte sich aber ein bisschen vornehmer aus: „Unser Geldsystem hat versagt.“
Erstaunlich, so etwas von von der globalen Teppichetage zu hören.
Die Zahlen, die Martin Wolf präsentierte, sprechen eine deutliche Sprache. Der Aufschwung der US-Wirtschaft werde zwar überall gelobt, aber er sei „der schwächste in der US-Geschichte“. Und die Eurozone habe seit der Finanzkrise ein glattes Jahrzehnt verloren. Der Produktivitätszuwachs der globalen Wirtschaft liegt seit 2004 auf dem niedrigsten Wert seit 1890.
Für Wolf – definitiv kein Linker – ist dies ein Symptom der Akkumulation von Kapital: Anstatt in Investitionen in die Realwirtschaft wandert das Kapital in die Finanzwirtschaft. Und während die Reichen immer reicher werden, kämpfen knapp 70 Prozent der Bevölkerung in den 25 westlichen Nationen seit 2005 mit stagnierenden und sinkenden Einkommen, wie Wolf zeigte.
Gleichzeitig sind die Zinsen seit zehn Jahren nahe Null und damit gemäss Wolf seit 1694 auf historisch unerreicht tiefem Niveau. Die Aktienkurse dagegen lägen so hoch wie nur in den Crash-Jahren 1929 und 1987. Wir befänden uns auf ausserordentlichem Territorium, „das System funktioniert nicht, und ich bin überhaupt nicht optimistisch“, schloss er sein Referat. …”… weiterlesen
worldfuturecouncil.org/pdf 2015 The monetary system in crisis – Monetary reform proposals, and a simple suggestion for a more effective monetary policy – Dr. Matthias Kroll
…”While many established economists are grappling with these fundamental problems, critics propose a fundamental monetary reform. On the one hand, they are challenging the money creation capabilities of the banks because these facilitated credit and finance asset-price bubbles. On the other hand they criticise that new money can only emerge through additional borrowing from banks and that debt-free money creation to fund much-needed and economically stimulating public investment is impossible. Based on proposals from the 1930s, monetary reform advocates have developed concepts in which the credit creation ability of banks is inhibited and new money is fed into the economic cycle by state spending – without incurring debts.
To achieve this goal of “Positive Money”, an extensive transformation of our banking and monetary system is necessary. Consequently, most existing proposals are complex. The United States’ “narrow banking” concept tries to stabilize the security of demand deposits and thus money transactions by enforcing strong restrictions even on very safe and liquid investment objectives. The supply of credit is proposed to occur via separate investment banks or funds. Other critics see the fundamental challenges in the interest system, which they perceive as creating an unsustainable pressure to grow, and have developed alternative solutions involving regional or complementary currencies.
This paper provides a summary of the current challenges our monetary system is facing and offers an overview of the different ideas for reform, discussing their practical feasibility. It will also demonstrate how a simpler monetary policy tool could facilitate the implementation of many of the ideas that reformers advocate, without a complex restructuring of the banking system. The implementation of this monetary policy tool will enable central banks to regain their ability to act effectively.
imf.org/en 8/2012 The Chicago Plan Revisited Michael Kumhof, Jaromir Benes
Summary: At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher’s claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.
neweconomics.org 2000 CREATING NEW MONEY A monetary reform for the technological age BY James Robertson, Joseph Huber
How can the money system be made to work better? How can its workings be made less mysterious — easier for politicians and citizens to understand? This report gives the answers. The existing money system is out of date. In modern democratic societies, the value created by issuing new money should be a common, not a private, resource. New money should be put into circulation as public spending, not as profit-making loans by commercial banks. In Britain, the result would be equivalent to 12p off income tax. Other countries would benefit comparably. In the information age, money has mainly become information, electronically stored and transmitted. Monetary policies that serve the public interest can no longer be founded on a smoke-and-mirrors fiction that “real money” lurks behind the information. The authors propose a simple reform, and spell out its practicalities step-by-step. The economic, social and environmental arguments for it are very strong. The public purse, private households and businesses will all benefit from it.
jamesrobertson.com/pdf 2011 CREATING NEW MONEY
A monetary reform for the information age – by Joseph Huber and James Robertson
sovereignmoney.site/ monetary system analysis and reform – Joseph Huber
goodreads.com 2012 Future Money: Breakdown or Breakthrough? by James Robertson
“Future Money” explains in plain language and convincing detail how our money system is propelling us toward the self-destruction of our species – and what we should do about it. Our present money system frustrates the well-meaning efforts of active citizens, NGOs and governments to deal with our present ills and problems – including worldwide poverty, environmental destruction, social injustice, economic inefficiency and political unrest and violence within and between nations. Failure to reform the world’s money system urgently and radically – that is, from its roots up – could bring disaster for human civilization before the end of this century. “Future Money” shows clearly how our money system operates and how it could be reformed so that it acts for the benefit of people and society rather than the opposite, and describes the obstacles that currently prevent that reform.The world’s financial experts and leaders in politics, government and business, and most mainstream academic and media commentators, have demonstrated that they are not yet able or willing to diagnose and treat the profound and pervasive problems that are directly caused by the money system. “Future Money” speaks explicitly to active, independent-minded citizens, including young people, with the hope that it will help them to understand why people committed to careers in almost every important walk of life today find it difficult to recognize the problem and grasp the nettle. It shows why we have to take the initiative now, and urgently, to get the issue on to mainstream agendas worldwide.
jamesrobertson.com/ A key concern of this website is the need for comprehensive reform of the worldwide money system.
amazon.de 2011 Geldreform: Vom schlechten Staatsgeld zum guten Marktgeld – by Thorsten Polleit, Michael von Prollius
Ob US-Dollar, Euro, chinesischer Renminbi, japanischer Yen oder Britisches Pfund: Sie alle sind ungedecktes Papiergeld, genauer: staatliches Zwangsgeld. Das staatliche Zwangsgeld leidet unter schwerwiegenden ökonomischen und ethischen Defiziten. Es ist inflationär, es ist ein Fremd- und Störfaktor im Gefüge freier Märkte und verursacht Finanz- und Wirtschaftskrisen. Zudem sorgt es für immer größere Schuldenlasten und bereichert in ungerechtfertigter Weise einige wenige auf Kosten aller anderern.
Dieses Buch will aufklären und zeigen, was gutes Geld ist. Wie wichtig gutes Geld für die produktive und friedvolle gesellschaftliche Entwicklung ist und auf welchen, für viele nicht unmittelbar erkennbaren Wegen das staatliche Zwangsgeldsystem die Grundpfeiler einer freien Gesellschaft zerstört.
Die komplett überarbeitete 3. Auflage des Buches soll einen konstruktiven Beitrag leisten, um eine der wohl größten gesellschaftlichen Herausforderungen unserer Zeit zu bewältigen: das staatliche Zwangsgeldsystem zu beenden und durch eine marktwirtschaftliche Geldordnung zu ersetzen.