New book on Monetary Reforms
Posted on 08/12/2019Following former books « The virtual money » (in French, edition Eyrolles 2010) and « The Monetary System – Analysis and New Approaches to Regulation » (Wiley & Co 2014), Jean-François Serval finished together with son co-author Jean-Pascal Tranié the writing of a new book, concentrating as the two first ones on a monetary reform to be adapted, unique and supported by environmental, economic and new technologic institutions. In 2008, as direct witnesses of the financial crisis, JF Serval and JP Tranié already appealed for this reform and to a global approach of money that allows a surveillance by transactions more than by aggregates that do neither allow to follow the creation of mechanisms and of worth variation nor the tendency of behavior of individuals.
They announced the monetary digital constitution above all monetary consideration of commercial banks (the credit). Before the exit of an expanded money which’s real-time appearance of debt balances and debts more and more easy to change because of the development of adapted financial mechanisms. The transformation of demands in insured letters of all forms that authors defined as M5 and M6, central banks lost the essential of their right of seignorage for the profit of markets.
This prediction of loss of control by missing of the vision of central banks that, surely, where not in charge, is now a reality with the Facebook money: « The Libra ». It will result to a change of international political balance for the transposition of the monetary plan for new equilibrium. By new equalization, the size of the markets and the exchange volume will determine major changes in the ranks and the level of relative lifes of populations and nations that keep them. Messrs Tranié and Serval are calling for urgent need of a monetary conference. The new book is called « The Monetary Reform we need for a peaceful World ». It will be published in English and French.