FEI -A Market-based Super Currency

Abstract

Ever since fiat currencies became the global norm, economists have debated how to achieve a stable international monetary unit. From John Maynard Keynes's Bancor (1942) to Mark Carney's more recent plan (2019), proposals have varied in design and governance but generally assume a government-led approach. This paper offers a different path: a privately issued global currency called the FEI, created by top-rated banks, backed by free-floating currencies, and bounded by a global cap to avoid excessive expansion. A private company would enforce transparent rules and consistent oversight. The objective is clear: to secure a stable monetary asset that fosters international trade and investment without relying solely on government sponsorship.

Keywords: JEL: G30, G35, B24, O16 Super currency, FEI, Exchange rates, Global money, Financial Markets