V. Voloshyn. On the particulars of the world’s ‘dollar-goods’ trade.

Abstract

The article represents with the analysis of the world’s trade at which dollar acts as goods. In the article it is substantiated that the USA, possessing an opportunity of uncontrolled issuing of own hard currency, are the only country, that enjoys the right of supplying to the world market in the role of goods. The scheme of crediting of the US economy by the US Federal Reserve System was represented. The rates of growth of monetary aggregates in separate world countries were provided. Also represented was the structure of international
reserves for different world countries. It was shown that nowadays world’s financial and monetary system is constructed in such a way that the ultimate turnover of the aggregate goods mass does not urge the USA to
manufacture any goods. The country makes its payments pays at the world market by means of virtual dollars, which are bound to return, the participants of the world trade only having to accumulate bills of debt of the USA. This financial system can’t have a zero balance and cannot be reduced to it. That is why it cannot exist for ever. It is difficult to predict it’s destiny in the long run. Even, if there won’t be such a force, that will be able to resist it, sooner or later, it is will be bound to decompose into some components. So, at least in this regard, the world’s currency, the part of which dollar is currently playing, possesses a substantial flaw, being an unbalanced means of payment.