Financial Sovereignty in the Era of Economic Changes

Abstract

This research attempts to identify the main trends in the development of institutions that ensure the financial sovereignty of the country. The issues of monetary policy, the purpose of central banks, the formation of local currency zones are considered. It is argued that the impossibility of sustainable development of the Western world has developed, the means and forms of confrontation between national economies and highly integrated entities are revealed. When countries switch to settlements in national currencies, not only the dollar monopoly is destroyed, but also the question arises about the procedure for providing settlement currencies. In Russia, they are studying the possibility of creating non-emission instruments using the material collateral principle of providing settlements by a group of dual goods. The possibility of returning the monetary function to gold is being considered. There is a high probability that monetary gold will soon regain the functions of world money, which will be accompanied by a revaluation of its value in fiat money. Russia is currently trying to diversify and modernize its economy, overcoming not only natural obstacles, but also market manipulation and internal resistance.