The Monetary System: Analysis and New Approaches to Regulation (Wiley Finance Series, 1, Band 1) - Hardcover

Über die Autorin bzw. den Autor

Jean-François Serval is President of Serval & Associés, a European accounting practice and a founder and head of United States operations of Constantin Associates, a multinational accounting firm. He sits on several boards including European League for Economic Co-operation, and the International Fiscal Association.
 
Jean-Pascal Tranié is President of Aloe Private Equity. He has held senior executive positions at Veolia Énergie and was head of Vivendi's Media and Multimedia divisions, before becoming CEO of the Viventures Partners venture capital arm.

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An important guide to how money works and a new model for financial health

The recent global financial crisis raised questions on how to balance actions based on short-term decision making against the uncertainty of impending long-term change in the economic environment.The Monetary System outlines the conceptual basis required to build a new and more stable financial system, paving the way for an economic policy model that places emphasis on rotation rather than on inventories of financial instruments that would result in improved policies.

In this important text, Jean-François Serval and Jean-Pascal Tranié explore the historical context of money and reveal how transactions work in today's global economic environment.The Monetary System is a compelling work that answers a number of key questions about our current financial situation: What underpinning of democratic society facilitated a transition to the uncontrolled creation of money? What were the major drivers and what are the consequences that characterize the current economic impasse? How can one forecast future trends? What can be done to "fix" the present economic system?

Based on exhaustive research, the book offers an overview of the present economic situation throughout the world that is defined by slow growth, rising debts, and low inflation. The authors envision a healthy economic future and put forward a new model for the global economy.

The Monetary System is a comprehensive resource that gives banking professionals, auditors, financial advisors, policy makers, as well as others interested in the topic, keen insight into our current economic situation and offers an understanding of the factors that can help shape a sound financial future.

Aus dem Klappentext

The Monetary System offers a clear understanding of how the world financial system works and addresses a number of key issues facing today's society. Because of increased life expectancy and longer retirement periods the new social pattern we live in requires the development of new money policies by governments. This book outlines the conceptual basis required to build a new and more stable financial system, paving the way for new fiscal policy.

Jean-François Serval and Jean-Pascal Tranié provide an in-depth analysis of the definition of money and show how money operates both in a historical context and within complex modern day transactions. The authors take a courageous and controversial stance in presenting the contemporary implementation of money as a social contract, governed by laws and regulations set by our culture. Serval and Tranié present an analytic approach that distinguishes those financial instruments that are freely transferable and those that can be classified as securitization and CDS.

This book suggests a new model that aggregates the M5 category encompassing all financial instruments including cash from the Central Bank. In essence, all receivables that are in counterparty relationships are recorded as debts on balance sheets, the M6 entry being the total of balance sheets from where the data has to be collected to compare them with revenues. By employing derivatives of M5 and M6, the book covers all underlying collateral classes, thus allowing a type of comprehensive economic modelling that is innovative in its approach.

Additionally, Serval and Tranié reveal the social role of monetary contracts not only because they are grounding exchanges as it has always been in the past but because it is a sampling tool for redistribution between actors including "sectors" through taxation, inflation, and deflation and finally between generations.

The Monetary System offers bankers and anyone else concerned with today's global economic condition an understanding of the key distinguishing factors that can help shape a financially stable future.