Monnaie-pleine, alias “sovereign money” à Chicago
Joseph Huber is the key monetary reformer of Germany. Founder of monetative.de, Berlin, a monetary reform initiative. In the ’90s he developed a new currency-school approach to overcome fractional reserve banking. Prof. Huber has been working with James Robertson on UK and European monetary reform since 1999, on behalf of the New Economics Foundation, London (report Creating New Money).
In 2013, his talk was “Modern Money – Interest-bearing Credit or Debt-free Currency?” which challenged assumptions of so called “Modern Money Theory” (MMT), and the views on money, credit, and debt and MMT’s belittlement of the dysfunctions of the present mixed-money system because of fractional reserve accounting. He compares this against the analyses given by contemporary monetary reformers who actually stand for a transition from banks’ credit-created money to debt-free sovereign money. Prof. Huber has launched an important new website at www.sovereignmoney.eu to help explain monetary reform to all. That talk was sent to the 25,000 subscribers to the Real World Economic Forum in January 2014. MMT has been unable to answer it. Prof. Huber “coined” the phrase “sovereign money” some years back. We consider him among the very top monetary reformers in the world.