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National financial systems: A path to sovereignty. Part 2 (Resource standardization)

Received: 9 November 2023

Received in revised form: 18 January 2024

Accepted: 1 February 2024

Available online: 30 May 2024

Subject Heading: FISCAL SYSTEM

JEL Classification: G10, G15, G17, G18

Pages: 1017–1035

https://doi.org/10.24891/fc.30.5.1017

Subject. The article addresses national financial systems and the global financial system.
Objectives. The purpose is to examine the possibility of forming the international financial system, in which member States exercise sovereign control over their national financial systems.
Methods. In the study, we used the projection of systems and metrological regulations, norms, and rules for the mechanisms of financial systems functioning .
Results. The paper shows that it is possible to form a decentralized international financial system, in which all participating States have an opportunity to sovereignly regulate their national financial systems.
Conclusions. The real way out of the current totalitarian, monopolized, centralized global financial system is a transition to a decentralized international financial system, in which member States sovereignly determine the value of their national currency through “resource standardization”.

Keywords: financial system, value of money, resource standardization

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