Abstract
Abstract From an analysis of the uncertainties, deficiencies and negative effects of the present monetary system the necessity and the requirements for a new monetary order are derived. These requirements are fulfilled by the presented regulations of a monetary order, which is based on the proposals of Joseph Huber (Vollgeld), Henry Simons and Irving Fisher (100 %-Money), Milton Friedman (Chicago Plan) and others (Allais, 1988; Gödde, 1985; Benes / Kumhof, 2013). The new monetary order requires another cash management, adapted payment systems and a different monetary policy of the central bank. Results of the new monetary order are legally protected money, no bank runs, a substantial reduction of the public debt, self-regulated smoothing of economic and stock market cycles, stabilization of the monetary union and other advantages for the economy. By also addressing open questions and alternative solutions this paper intends to stimulate a discussion of the proposals and the further development of a new monetary order.
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