This article analyzes the global causes of the contemporary
crisis and the possibilities to eliminate the most acute
problems that have generated this crisis. It analyzes both the
negative role of the world financial flows and their important
positive functions including the ‘insurance’ of social
guaranties at the global scale. Оn the one hand, anarchic and
extremely rapid development of new financial centers and
financial flows contributed to the outbreak of the global
financial-economic crisis. The latter was amplified by the non-
transparency of many financial instruments, which led to the
actual concealment of risks and their global underestimation. On
the other hand, new financial technologies decrease risks in a
rather effective way, they expand possibilities to attract and
accumulate enormous capitals, actors, and markets. The modern
financial sector also contributes to the provision of insurance
for social funds at the global scale. The participation of
pension and insurance funds in financial operatio