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Les trous noirs de la monnaie pleine

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  • Laurent Le Maux

Abstract

The present paper examines the proposition in favour of 100% money or plain money, that makes compulsory the full-backing reserve of demand deposits by the central bank money and, hence, prohibits commercial banks from proceeding to « creation » of money. It points out however that the reflexion about the transferability of time deposits or saving accounts into demand deposits remains unsatisfactory, even though such a transferability restarts the process of « creation » of money that 100% money or plain money proposition is supposed to cancel. It then deduces a collection of paradoxes that enlightens the nature of liquidity.

Suggested Citation

  • Laurent Le Maux, 2020. "Les trous noirs de la monnaie pleine," Revue française d'économie, Presses de Sciences-Po, vol. 0(2), pages 51-79.
    • Handle: RePEc:cai:rferfe:rfe_202_0051
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    Cited by:

    1. Samuel Demeulemeester, 2022. "Divorcing money creation from bank loans: revisiting the “100% money” proposal of the 1930s [Dissocier la création monétaire des prêts bancaires : retour sur la proposition "100% monnaie"," Post-Print hal-03938669, HAL.

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