Ruch Prawniczy, Ekonomiczny i Socjologiczny, 1970, nr 2
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Browsing Ruch Prawniczy, Ekonomiczny i Socjologiczny, 1970, nr 2 by Author "Zajda, Józef"
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Item Złoto, dolar i międzynarodowy pieniądz fiducjarny(Wydział Prawa i Administracji UAM, 1970) Zajda, JózefThe main thought of the article is the opinion of progressing phenomenon of demonetization of gold as international reserve currency. Gold as world currency is a restrictive element in the range of international trades' turnover. It is the restraint of the expansion of world trade that has always had the increasing tendency. In that way you can explain the increase of the position of the United States' dollar as the key currency. National currency performing a duty of international currency in the longway perspective is an embryo of currency crisis and the source of conflicts and contradictions in capitalistic countries. Gold and dollar as international currency can be replaced by international fiduciary currency. Precursor of this conception is Keynes. The author discussed the mechanism of regulation the exchane rates and mechanisms of accomodation in the range of deficits of payments and analised the role of International Monetary Fund. The author pointed that in that range the role of gold is not of basical importance. The essential role of gold is its function as the comparative measure of currency. Price of gold is of conventional character. There were discussed modern international conceptions of fiduciary currency of Prof. R. Triffin and the plan of reform of the International Monetary Fund that depended on introduction of Special Drawing Rights (SDR). Special Drawing Rights are based on international account unit that equals one gold dollar. Finishing his article the author distinguished international fiduciary currency from supranational fiduciary currency. The supranational fiduciary currency is above all the political conception not only organizational or economical one.