In the theory of Freiwirtschaft, Freigeld (German for free money) is a monetary (or exchange) unit. It has several special properties:
- It is maintained by a monetary authority to be spending power stable (no inflation or deflation) by means of printing more money or withdrawing money from circulation
- It is cash flow safe (a scheme will be put in place to ensure that the money is returned into the cash flow - for example, by requiring stamps to be purchased and attached to the money to keep it valid)
- It is convertible into other currencies
- It is localized to a certain area