Josef Hoover: Sovereign Currency: Beyond the Reserve Banking System

Money. Why does finance seem so difficult? Money and finance are also very difficult to understand. In fact, the reason is that many economics textbooks are conveying real and bizarre myths about money and finance. The book presents a new alternative currency system and a way of doing it, based on the analysis and criticism of these myths. The essence of money is not the exchange, but the cancellation of debt. The book develops a discussion critical of the content of the economics textbook's explanation of the nature of money. Economic textbooks teach that money was born by the people who exchanged materials, making arrangements to trade certain goods, so as to relieve their discomfort. But there is no historical evidence to support that claim. In real history, people did not trade money for goods but they did deal with credit/ Debt relations. And money was born after a long time as the ultimate means of ending credit/poverty. The private bank is publishing money. Then the author asks who is now publishing the currency. Many people think that the country or central bank is publishing money. But our everyday currency is bank money, which is a record of bank accounts, and the amount of money that the central bank has issued is only 3% of the seniority. Banks are not financial institutions. Economic textbooks explain that banks are financial middle - school organizations that collect depositors ’ deposites and lend them. But the fact that cash is a very small percentage of the currency is clear that banks are not just institutions that are going to be able to pay loans.

Korean title: 주권화폐: 준비금 은행제도를 넘어서

Korean author: 조세프 후버

Korean publisher: 진인진

ISBN-13: 9788963475769