**Exhibit
      31.1**





CERTIFICATION





I,
      Donald
      F Mardak, certify that:





1.  I
      have reviewed this quarterly report on Form 10-QSB of International Monetary
      Systems, LTD.;





2.  Based
      on my knowledge, this report does not contain any untrue statement of a material
      fact or omit to state a material fact necessary to make the statements made,
      in
      light of the circumstances under which such statements were made, not misleading
      with respect to the period covered by this report;





3.  Based
      on my knowledge, the financial statements, and other financial information
      included in this report, fairly present in all material respects the financial
      condition, results of operations and cash flows of the small business issuer
      as
      of, and for, the periods presented in this report;





4.  The
      small business issuer's other certifying officer and I are responsible for
      establishing and maintaining disclosure controls and procedures (as defined
      in
      Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small business issuer and
      have:





a)  designed
      such disclosure controls and procedures, or caused such disclosure controls
      and
      procedures to be designed under my supervision, to  ensure that
      material information relating to the small business issuer, including its
      consolidated subsidiaries, is made known to me by others within those entities,
      particularly during the period in which this report is being
      prepared;





b)  evaluated
      the effectiveness of the small business issuer's disclosure controls and
      procedures and presented in this report my conclusions about the effectiveness
      of the disclosure controls and procedures, as of the end of the period covered
      by this report based on such evaluation; and





c)  disclosed
      in this report any change in the small business issuer's internal control over
      financial reporting that occurred during the small business issuer's fourth
      fiscal quarter that has materially affected, or is reasonably likely to
      materially affect, the small business issuer's internal control over financial
      reporting; and





5.  The
      small business issuer's other certifying officer and I have disclosed, based
      on
      our most recent evaluation of internal control over financial reporting, to
      the
      small business issuer's auditors and the audit committee of the small business
      issuer's board of directors (or persons performing the equivalent
      functions):





a)  all
      significant deficiencies and material weaknesses in the design


or
      operation of internal control over financial reporting which are reasonably
      likely to adversely affect the small business issuer's ability to record,
      process, summarize and report financial information; and


b)
      any fraud, whether or not material, that involves management or other employees
      who have a significant role in the small business issuer's internal control
      over
      financial reporting.





Date:
      August 13, 2007





By:
      /s/
      Donald F Mardak


-------------------------------


Donald
      F
      Mardak,


Chief
      Executive Officer