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The paper analyzes the reasons for the accelerated accumulation of gold in the structure of Russia's international reserves and the impact of this process on our country's monetary system. The purpose of the paper is to identify the prospects for increasing the role of gold as a collateral asset in the ruble money supply emission. The correlation and regression analysis of the most important macroeconomic variables of the money market, which should be influenced by gold quotations, was chosen as a method of research. The novelty of the paper is the justification of the pattern of accelerated gold accumulation in Russian international reserves. The review of foreign scientific literature has led to the conclusion that the increased role of gold in the international financial market is associated with an uncontrolled emission of currencies by the G7 countries in their pursuit of soft monetary policy. The paper presents the results of the calculation of the intrinsic value of gold and the impact of its stock in the Russian Central Bank vaults on the money supply in the country and the ruble exchange rate against the U.S. dollar. The authors conclude that the way out of the protracted global financial crisis may be a return of one or more major economies (not excluded, the U.S.) to the gold standard system.

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Subject. This article explores the cryptocurrency market and the changes in the three most popular cryptocurrencies currently, namely Bitcoin, Ethereum and Tether, in particular. Objectives. The article aims to answer the question whether it is possible to predict the cryptocurrency rate taking into account the high market value volatility or not. Results. Testing the cryptocurrency market for information efficiency made it possible to choose the most adequate model for predicting the market prices of cryptocurrency, namely the Heterogeneous Autoregressive model of Realized Volatility – HAR-RV model. Despite the simplicity of the structure, the HAR-RV model shows good results in predicting the market prices of cryptocurrency. Taking into account that forecasting the changes in time series using regression models fails with unexpected spikes in market information, the Shannon entropy gets calculated, the values of which warn the researcher in advance about the growth or decline of the cryptocurrency rate. The article proposes to enhance the predictive properties of the HAR-RV model by calculating the Shannon information entropy for the studied time series. Conclusions and Relevance. Currently, despite the high volatility of the cryptocurrency, the changes in its market price can be predicted quite accurately. Cryptocurrency meets all the Austrian School's requirements for money, and in the future, it will be able to compete with fiat currencies significantly. The proposed method of forecasting the changes in time series can be used by analysts and traders concerning their stock, exchange, and money market activities.

The article analyzes theoretical and methodological features of the transmission mechanism of monetary policy and its channels of performance. The complex nature of this phenomenon is substantiated by a qualitative economic approach thus revealing its immanent theoretical contradictions, which cause a number of problems that monetary authorities face while conducting monetary policy. Possible ways of analysis aimed at resolving the mentioned issues are suggested.