International Movement for Monetary Reform

The International Movement for Monetary Reform is an umbrella organization for monetary reform organizations^[1] with nearly 30 organizations around the world,^[2]:31 founded in 2013 at the initiative of the British organization Positive Money.^[3] Their political goal is to replace the creation of money by bank lending with a system that creates money free of debt^[4] and create a banking system that works for the people and for society.^[5] IMMR reforms would establish a state and central bank monopoly on money creation and allow interest-free money's use and quantity to be democratically decided.^[6] IMMR takes an idealist-pragmatic approach, not just describing a better form of money but aiming to implement it through advocacy^[7] as nonviolent peacebuilding.^[8]

IMMR affiliated organizations developed sovereign money reform varieties, some country specific.^[9] According to IMMR and other reformers, excessive bank power creates instability.^[10] The IMMR works with countries to promote a steady-state economy, without "too big to fail" banks.^[11] Proponents claim proposals like the Chicago Plan would stabilize the currency and reduce financial damage from boom bust cycles.^[2]:46

The governments of United Kingdom, Iceland, the Netherlands, and Switzerland have taken some steps towards monetary reform.^[12] European members of IMMR provided perspectives on central bank digital currency design.^[13]

See also

• Monetary reform
• Money creation
• Credit theory of money
• Money as Debt
• List of monetary reformers
• Criticisms of fractional reserve banking