Towards 100% money in OECD countries?

“100% money” is a situation where all money creation comes from the central bank as opposed to banks. Under the conventional model, in contrast, most money creation comes from bank lending. Supporters of 100% money insist that money creation should be controlled by the central bank and that seigniorage (inflation tax) should go to the central bank, not commercial banks. Another argument for 100% money is that if all money is a liability of the central bank, it is easier to conduct helicopter money. We therefore look at: The change in the nature of money creation over time in OECD countries; The nature of 100% money: today, it is quantitative easing; tomorrow, it could be the introduction of retail cryptocurrencies to replace bank deposits.