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On Introduction of Sound Money

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  • Volodymyr Vysochansky

    (Uzhhorod University)

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.

Suggested Citation

  • Volodymyr Vysochansky, 2012. "On Introduction of Sound Money," Finance vysochansky_volodymyr.522, Socionet.
    • Handle: RePEc:nos:wuwpfi:vysochansky_volodymyr.52267-270312_01
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    References listed on IDEAS

    as
    1. Laurent Deville, 2008. "Exchange Traded Funds: History, Trading, and Research," Springer Optimization and Its Applications, in: Constantin Zopounidis & Michael Doumpos & Panos M. Pardalos (ed.), Handbook of Financial Engineering, pages 67-98, Springer.
    2. repec:dau:papers:123456789/903 is not listed on IDEAS
    3. Laurent Deville, 2008. "Exchange Traded Funds: History, Trading and Research," Post-Print halshs-00162223, HAL.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    money; commodities; exchange-traded funds; monetary system regulation;
    All these keywords.

    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • G1 - Financial Economics - - General Financial Markets

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