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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]
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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]
