5 ms·

I wonder about the translation, is "real money" an accepted economic term for this concept? Because "Voll" as a prefix usually means complete or whole, rather t

I wonder about the translation, is "real money" an accepted economic term for this concept? Because "Voll" as a prefix usually means complete or whole, rather than "real", as in "Vollmilch" (whole milk) and "Vollkorn" (whole grain). (Source: I'm German.)

sarabande 8y ago
I think 100% money is the original economic term for this concept, used by Irving Fisher (see http://realmoneyecon.org/lev2/images/pdfs/100percent_money.pdf http://realmoneyecon.org/lev2/images/pdfs/100percent_money.p...). Also, I think Vollgeld comes from an abbreviation of vollwertiges Geld (full-fledged money), and seems like an appropriate translation of 100% money and sounds good, as well.
- beefhash 8y ago
  Interestingly, this note was apparently lost on the Swiss government, which uses "sovereign money" as English translation instead[1]. https://www.admin.ch/gov/en/start/documentation/votes/20180610/Sovereign-Money-Initiative.html https://www.admin.ch/gov/en/start/documentation/votes/201806...
lordnacho 8y ago
Seems wrong to me as well. I think the point of the translation is to say "non-fractional reserve" money, for which "real" is a defensible but not fantastic shorthand. "Fully backed" might make sense.
- alter_eco123 8y ago
  > "Fully backed" might make sense. "Real" is accurate. When gold was used as (real) money, it wasn't "backed" by anything. It's just gold.
neffy 8y ago
I think it´s the german version of the 1932 Fisher Full Reserve proposal.
- blattimwind 8y ago
  *Swiss version
  - majewsky 8y ago
    German as in language, not German as in the country. Vollgeld as a term also appears in German economic discussions (though mostly on the left, not so much in the mainstream).
    - deleted 8y ago
      [deleted]
- fauigerzigerk 8y ago
  I think you're right. It's full-reserve banking vs fractional-reserve banking. https://en.wikipedia.org/wiki/Full-reserve_banking https://en.wikipedia.org/wiki/Full-reserve_banking

sarabande 8y ago

I think 100% money is the original economic term for this concept, used by Irving Fisher (see http://realmoneyecon.org/lev2/images/pdfs/100percent_money.pdf http://realmoneyecon.org/lev2/images/pdfs/100percent_money.p...). Also, I think Vollgeld comes from an abbreviation of vollwertiges Geld (full-fledged money), and seems like an appropriate translation of 100% money and sounds good, as well.

beefhash 8y ago
Interestingly, this note was apparently lost on the Swiss government, which uses "sovereign money" as English translation instead[1]. https://www.admin.ch/gov/en/start/documentation/votes/20180610/Sovereign-Money-Initiative.html https://www.admin.ch/gov/en/start/documentation/votes/201806...

lordnacho 8y ago

Seems wrong to me as well. I think the point of the translation is to say "non-fractional reserve" money, for which "real" is a defensible but not fantastic shorthand. "Fully backed" might make sense.

alter_eco123 8y ago
> "Fully backed" might make sense. "Real" is accurate. When gold was used as (real) money, it wasn't "backed" by anything. It's just gold.

neffy 8y ago

I think it´s the german version of the 1932 Fisher Full Reserve proposal.

blattimwind 8y ago
*Swiss version
- majewsky 8y ago
  German as in language, not German as in the country. Vollgeld as a term also appears in German economic discussions (though mostly on the left, not so much in the mainstream).
  - deleted 8y ago
    [deleted]
fauigerzigerk 8y ago
I think you're right. It's full-reserve banking vs fractional-reserve banking. https://en.wikipedia.org/wiki/Full-reserve_banking https://en.wikipedia.org/wiki/Full-reserve_banking