marco saba: It is interesting. Here in Italy we are taking a different perspective with the same goal. The core problem is that money created by the banks are not reflected in their accounting because it is not registered as an asset at the time of creation. They only register the money created as a Liability. But if we reform their accounting system, by making it equal to regular firm accounting, then the seigniorage will emerge from the books. I.e. A bank create money (+100) and add it to asset side, then she loan the money WHITHOUT INTEREST and write the sum in the liability(-100). The sum is then zero. When the loan money come back to the bank (any sum between 0 and 100...), the reflux thus obtained can be taxed for seigniorage by the state, the profits can be shared between shareholders. Everybody is happy ! And banks don't face anymore any crises.
Alistair MacIntyre: What about the Bradbury pound?