On Introduction of Sound Money

Volodymyr Vysochansky ()
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Volodymyr Vysochansky: Uzhhorod University

Finance from Socionet

Abstract: World financial crisis unveiled the precarious position of modern monetary system based on a centralized fiat money supply and fractional-reserve banking. The scale of the crisis and the threat of major price inflation, which has already become a reality on commodities markets, confirm the instability of the monetary system. In order to define weak spots of the system and consider possible solutions on how to address them it is necessary to revise the nature of its elements, and in particular of money. The paper is devoted to the issues of money with commodity backing and approaches of its introduction. Model of self-adjusting money creation/redemption based on ETF technology and respective stock and commodity exchange infrastructure is proposed as an incentive to stimulate discussion about potential improvement of the modern monetary system.

Keywords: money; commodities; exchange-traded funds; monetary system regulation (search for similar items in EconPapers)
JEL-codes: E4 E5 G1 (search for similar items in EconPapers)
Pages: 20
Date: 2012-03-27
New Economics Papers: this item is included in nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:nos:wuwpfi:vysochansky_volodymyr.52267-270312_01

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