THE ROLE OF GOLD IN THE CONDITIONS OF TRANSFORMATION OF THE WORLD MONETARY AND FINANCIAL SYSTEM

Pavlova Anastasia Vladimirovna

The relevance of the article is due to the fact that at present the main reserve currency is the US dollar, but there are important signs that the dollar in this role should be replaced by another payment unit. These circumstances cause a broad discussion about the structure and functioning of the international monetary and financial system, and also updates research on the role of gold in the context of the transformation of the global monetary and financial system. As research methods, systematization and generalization of theoretical concepts of the formation and transformation of the world monetary and financial system were used; comparative and logical analysis to clarify the role of gold in these processes. The article shows that gold, as one of the most valuable precious metals, played a key role in the development of world monetary systems. The article presents an analysis of the role of gold in the current conditions of transformation of the world monetary and financial system. The evolution of these processes is shown, statistical data on gold and foreign exchange reserves in the world are studied. It is concluded that today the definition of a new dominant currency is impossible. At the same time, a new monetary system based on gold will mean an acceleration of the regulatory mechanism in relation to the real value of existing currencies.

Keywords:currency order, dollar, public debt, gold and foreign exchange reserves, currency value