I am reading "Interest and inflation free money" by Margrit Kennedy. I have only found this book online (here). It is not in my local libraries or bookshops. The author states (page 39 of pdf):
“Between the 12th and the 15th century in Europe a money system was used called "Brakteaten." Issued by the respective towns, bishops and sovereigns, it not only helped the exchange of goods and services but also provided the means of collecting taxes. Every year the thin coins made from gold and silver were "recalled," one to three times re-minted and devalued on an average about 25 % in the process.
Since nobody wanted to keep this money, people instead invested in furniture, solidly built houses, artwork and anything else that promised to keep or increase its value. During that time, some of the most beautiful sacred and profane works of art and architecture came into existence. "For while monied wealth could not accumulate, real wealth was created."
We still think of this time as one of the cultural culmination points in European history. Craftsmen worked a five-day week, the "blue" Monday was introduced and the standard of living was high. In addition, there were hardly any feuds and wars between the various realms of power. (27)
However, people obviously disliked the money which lost so much at regular intervals. Finally, towards the end of the 15th century, the "eternal" penny was introduced and with it came interest and accumulation of wealth in the hands of increasingly fewer people, as well as the accompanying social and economic problems. The lesson here is that taxes should be levied separately and not connected with the circulation fee on money."
I am looking to read more about such monetary system, but I can get no meaningful hits. The book seems to have a reference to this system (reference 27), but as I do not have the book I cannot check which is. Wikipedia has little mention on this monetary system, similar to what it is in the book. Google Scholar has no relevant result in English (mainly in German).
Are you aware of any study on this monetary system? Could I get some references on this?