Zoltan Pozsar on Russia, gold, and a turning point for the U.S. dollar

Bloomberg/Tracy Alloway and Joe Wiesenthal/3-2-2022

cartoon showing gold as something to be used in times of uncertainty“There is inside money and outside. Inside money are all the claims that are someone else’s liability and outside money is the type of money that is the liability of no one. And you’re absolutely right. Most FX reserves that exist in the world today are all forms of inside money, i.e. are the liabilities of someone.”

USAGOLD note: Credit Suisse Zoltan Pozsar is one of the investment business’ most highly respected commentators. In this interview, he tells why gold is important again and it has to do with its designation as outside money in his description. This is an important read for those who would like to gain a better understanding of how gold could once again play an important role in the monetary and financial systems.

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