by  Joseph Huber & James Robertson

A monetary reform for the information age basically simple. It is in two parts:

1. Central banks should create the amount of new non-cash money (as well as cash) they decide is needed to increase the money supply, by crediting it to their governments as public revenue. Governments should then put it into circulation by spending it.

2. It should become infeasible and be made illegal for anyone else to create new money denominated in an official currency. Commercial banks will thus be excluded from creating new credit as they do now and be limited to credit-broking as financial intermediaries. We refer to this as “seigniorage reform”.