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"In this article the author addresses the question of the ontology of power and rule-setting in the international monetary system. By distinguishing between two dimensions of monetary power - autonomy and influence - he offers an innovative approach towards power in the international monetary system. Within this context he examines and analyses different developments, outlining a diffusion of power among states as well as between states and non-state actors rather in the dimension of autonomy than in the dimension of influence. The author introduces the concept of leaderless diffusion, meaning that leadership in the system has been more scattered than relocated. He argues that a power shift has taken place from few very powerful states towards a growing number of autonomous actors, especially when it comes to rule-setting abilities within the monetary system. Furthermore, he outlines that on the level of governance, a distinction should be made between the individual state and the global system and thus offers an elaborated approach towards understanding monetary and economic power in the 21st century." (author's abstract)