Abstract
In the article former currency (monetary) systems were reviewed; their characteristics were briefly outlined; their merits and demerits were pointed out. There were examples of countries making complete shifts from “paper” money circulation to “metal” and back to “paper”. The author points out some discrepancies between legislative and actual monetary relations of states-participants of treaties. The author defines reasons why prior currency systems were replaced and describes certain events that, according to the author, lead to those replacements. It was illustrated that treaties between economically developed countries have an impact on the world stability or instability. Major military conflicts were proven to be connected with the change of monetary system in the world. The currently effective system under Jamaica Accords is revealed as far too “elderly”. Given the events that took place 100–150 years ago, supposed ways out of the current situation become clear. The author defines the optimal “chronological window” and legislative “basis” necessary for taking measures.
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