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

In: European Union and Monetary Union in Permanent Crisis II

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  • Dirk Meyer

    (Helmut-Schmidt-Universität)

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.

Suggested Citation

  • Dirk Meyer, 2022. "Community Currency with a Purchasing Power Guarantee Based on Capital: The Concept of a Hard Euro Backed by Capital," Springer Books, in: European Union and Monetary Union in Permanent Crisis II, chapter 0, pages 347-390, Springer.
    • Handle: RePEc:spr:sprchp:978-3-658-38646-7_16
    DOI: 10.1007/978-3-658-38646-7_16
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