Last month I posted a review of Mervyn King’s book “The end of Alchemy”. One of the central ideas in King’s book was that all deposits must be backed 100% by liquid, safe assets. It appears that the Swiss are being asked to vote on a proposal labeled “Sovereign Money Initiative” that may not be exactly the same as King’s idea but comes from the same school of money philosophy.
It is not clear that there is any popular support for the proposal but it would be a fascinating money experiment if it did get support. Thanks to Brian Reid for flagging this one to me.