Home  Journals  Finance and Credit  9(837) - 2023 September

National financial systems are the path to sovereignty. Part 1: A systems analysis

Vol. 29, Iss. 9, SEPTEMBER 2023

Article PDF Version

Received: 16 May 2023

Received in revised form: 29 June 2023

Accepted: 13 July 2023

Available online: 28 September 2023

Subject Heading: FISCAL SYSTEM

JEL Classification: G10, G15, G17, G18

Pages: 2035–2051

https://doi.org/10.24891/fc.29.9.2035

Subject. This article examines the issues related to national financial systems, the Global Financial System.
Objectives. The article aims to investigate the features that arise during the functioning of national financial systems as part of the Global Financial System in modern conditions.
Methods. For the study, we used a projection method.
Results. The article finds that the current centralized Global Financial System is characterized by insurmountable (generic) features that make national financial systems vassals of the central body of the global system, and the system itself unstable and super-totalitarian, in principle.
Conclusions. The real way out of this situation is the transition to a decentralized international financial system, in which member States determine the value of their national currency sovereignly.

Keywords: system, financial system, money, currency, value of money

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