James Robertson, Creating New Money, Seigniorage
107 page pdf file: [link to www.jamesrobertson.com
Chapters 2, 3, and 4 have the word seigniorage in the chapter titles.
Hummel on creditory money: [link to wfhummel.cnchost.com
Hummel on seigniorage: [link to wfhummel.cnchost.com
In a system of coinage based on circulating precious metal coins traded by weight and purity only the seigniorage is based within the metal and is owned by the bearer.
In a system of coinage where a numaria ( [link to www.abebooks.com
] is embossed to one surface, the number represents an imaginary increment above and beyond the precious metal value. This numaria is claimed to be property of the Senior (thus seigniorage).
However, what I write about is a system of mutual credit based upon hypothecation of promissory notes (the Mandrake Mechanism by Griffin) and it is my contention that a system of mutual credit must be owned by the people and operated for the benefit of the people.
Look for how the Mondragon Cooperative subordinated the bank charter to the overall cooperative management board and thereafter paid rebates back to the people. This is the binary economics principle put to action by an institution.
A full understanding of a communication theory of money will include the principle of competition in media - such a principle of competition allows circulation of precious metal coins operating in a parallel system. Some writers have called for a unit of energy to also circulate. Kilowatt hours of electricity might be the base measurement. Other system already in limited usage use a human hour as the medium of exchange represented by a token and/or paper instrument.
In a mutual credit monetary system seigniorage must be vested in the people.