KPMG Iceland presents new report on Sovereign Money
Christoph Hensch
On September 5th, the consulting company KPMG released a new report commissioned by the Prime Minister of Iceland aiming to clarify the main features of a sovereign money system as advocated by the International Movement for Monetary Reform. The launch event in Reykjavik featured a very supportive speech from the Financial Times’ chief economics commentator Martin Wolf and was commented on by the Governor of the Central Bank of Iceland.
One knows a subject is being taken seriously when the world’s biggest consultancies and accountancy firms such as KPMG start looking at them. The monetary reform movement just passed this milestone this week after KPMG Iceland released a new report entitled “Money Issuance: Alternative Monetary Systems”. The ~40 page report (pdf) was commissioned by the Prime Minister’s office. It provides an overview of the sovereign money proposal, including a summary of the latest political developments and the academic debate. While the report is quite accessible to read, it does not provide any recommendations on whether sovereign money should be implemented or not.
"The important thing is not to stop questioning. Curiosity has its own reason for existing."
- Albert Einstein (1879 - 1955) German/American atomic physicist