Reinventing Banking: From Russia to Iceland to Ecuador
Global developments in finance and geopolitics are prompting a rethinking of the structure of banking and of the nature of money itself.
Sovereign Money
The Grexit Proposal
So what type of monetary framework the Greeks should adopt if they were to part ways with the Eurozone?
Sovereign money: what it is and why it matters
Last week saw another major breakthrough in the monetary reform debate as leading UK economics commentator, the Financial Times’ Martin Wolf, argued that the power to create new money should be stripped from private banks and returned to the state.
The Trillion Dollar Coin: Joke or Game-changer?
The trillion dollar coin actually represents one of the most important principles of popular prosperity ever conceived: the creation of money by sovereign governments, debt-free.
A return to Sovereign Money?
The International Monetary Fund (IMF) recently published a working paper arguing for the removal of private bank’s privilege of creating the national money supply. The so called ‘full’ or ‘100%’ –reserve reform has a long history – but, with the Icelandic parliament actively investigating the proposal and little sign of current reforms rebooting the economy, might its time have come?