Community Currency with a Purchasing Power Guarantee Based on Capital: The Concept of a Hard Euro Backed by Capital

Dirk Meyer ()
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Dirk Meyer: Helmut-Schmidt-Universität

Chapter Chapter 16 in European Union and Monetary Union in Permanent Crisis II, 2022, pp 347-390 from Springer

Abstract: Abstract The protection of inflation for long-term contracts (wages, rents) as well as special investments (savings, bonds, life insurance) has always been the subject of political and social discussion, especially with regard to the redistribution effects of money devaluation, which are perceived as unfair. The special features of a capital-funded hard euro (KHE) are its constant purchasing power (inflation protection) and its capital funding (sustainability). It is an attempt to transfer the historical idea of the compensated gold dollar to the European Monetary Union (EMU). The capital funding through the mandatory purchase of shares in productive capital (shares) by the issuing central bank gives the KHE commodity money character.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-658-38646-7_16

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DOI: 10.1007/978-3-658-38646-7_16

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