{"id":1,"date":"2023-05-05T15:57:00","date_gmt":"2023-05-05T13:57:00","guid":{"rendered":"http:\/\/ahhjgrk.cluster028.hosting.ovh.net\/?p=1"},"modified":"2024-04-09T19:25:27","modified_gmt":"2024-04-09T17:25:27","slug":"bonjour-tout-le-monde","status":"publish","type":"post","link":"http:\/\/www.serval-associes.eu\/en\/bonjour-tout-le-monde\/","title":{"rendered":"Monetary reform: new aggregates as a foundation for the digital age"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"1\" class=\"elementor elementor-1\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-157aa955 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"157aa955\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7104f632\" data-id=\"7104f632\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-240e7096 elementor-widget elementor-widget-text-editor\" data-id=\"240e7096\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><!-- wp:paragraph --><\/p>\n<p>The limited space of the 'traditional' aggregates M1, M2 and M3, which make up the money supply, has now been replaced by an unlimited space, defined by new analytical tools, M5 and M6, based on the infinite amount of data and cross-referencing made possible by digital technology.&nbsp;<br>This is the new paradigm developed by Jean-Fran\u00e7ois Serval and Jean-Pascal Trani\u00e9 in an article published in the April 2023 issue of Revue Banque (No. 879), which takes up the thesis developed in their latest book, \"Innovations financi\u00e8res et R\u00e9forme mon\u00e9taire ou comment sortir du pi\u00e8ge de la dette\" (Lextenso).&nbsp;<br>The authors explain that this new framework for analysing the monetary sphere using data is an essential prerequisite for implementing a monetary reform that redefines a revamped regulatory system. The latter will pave the way for a proactive policy of controlling public deficits and reducing debt. The cross-referencing of data, they emphasise, should not only provide a precise map of exchanges, but also improve the rules to ensure the fluidity and security of monetary circulation, the regulation of which is the responsibility of the State.<\/p><p>file:\/\/\/C:\/Users\/dba\/AppData\/Local\/Microsoft\/Windows\/INetCache\/Content.Outlook\/C9SPS2UX\/RB879-TranieServal%20(003).pdf<br><\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:file {\"id\":1156,\"href\":\"http:\/\/ahhjgrk.cluster028.hosting.ovh.net\/wp-content\/uploads\/2023\/11\/REFORME-MONETAIRE.pdf\",\"displayPreview\":true} --><\/p>\n<div class=\"wp-block-file\"><object class=\"wp-block-file__embed\" data=\"http:\/\/ahhjgrk.cluster028.hosting.ovh.net\/wp-content\/uploads\/2023\/11\/REFORME-MONETAIRE.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"REFORM-MONETARY\"><\/object><a id=\"wp-block-file--media-69544559-7672-46d7-a762-37269dee5389\" href=\"http:\/\/ahhjgrk.cluster028.hosting.ovh.net\/wp-content\/uploads\/2023\/11\/REFORME-MONETAIRE.pdf\" target=\"_blank\" rel=\"noopener\">REFORM-MONETARY<\/a><a href=\"http:\/\/ahhjgrk.cluster028.hosting.ovh.net\/wp-content\/uploads\/2023\/11\/REFORME-MONETAIRE.pdf\" class=\"wp-block-file__button wp-element-button\" download=\"\" aria-describedby=\"wp-block-file--media-69544559-7672-46d7-a762-37269dee5389\" target=\"_blank\" rel=\"noopener\">Download<\/a><\/div>\n<p><!-- \/wp:file --><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>In the limited space of the \"classic\" aggregates M1, M2 and M3, which make up the mass...<\/p>","protected":false},"author":4,"featured_media":456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[12,19],"tags":[],"class_list":["post-1","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-article","category-infos"],"_links":{"self":[{"href":"http:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/posts\/1","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"http:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/comments?post=1"}],"version-history":[{"count":10,"href":"http:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/posts\/1\/revisions"}],"predecessor-version":[{"id":1809,"href":"http:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/posts\/1\/revisions\/1809"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/media\/456"}],"wp:attachment":[{"href":"http:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/media?parent=1"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/categories?post=1"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.serval-associes.eu\/en\/wp-json\/wp\/v2\/tags?post=1"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}