This Is Zoltan Pozsar's Vision For Bretton Woods III
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 7 April 2022
⏱️ 59 minutes
🧾️ Download transcript
Summary
Over the last several years, most economic crises have been solvable by money. Swap lines. Bailouts. Central bank asset purchases, and so on. But now the world is experiencing something new: A problem that money can't easily solve. When it comes to, for example, avoiding Russian energy, there's no simple solution. Money can't buy an instant energy changeover. This is all part of a new regime that Zoltan Pozsar, Managing Director and head of Global STIR Strategy at Credit Suisse, likens to Bretton Woods III. On this episode, he returns to spell out his framework, and what it means for financial markets, the dollar, and the new world economy overall.
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| 0:53.7 | Hello and welcome to another episode of the Adlots podcast. I'm Tracy Alloway. |
| 0:58.3 | And I'm Joe Weisenthal. |
| 1:00.2 | Joe, you're in Vegas, right? |
| 1:03.2 | I am. I decided to take a little break from life and be in the desert for a couple of days |
| 1:08.8 | in the place. It's pretty nice out here. Yes, so if I sound a little weird, |
| 1:13.9 | it's because I'm not in the studio with you. |
| 1:16.4 | Do you know this is kind of weird, but whenever I think of poker nowadays and poker chips, |
| 1:21.5 | I always think this is probably just me, but I always think of |
| 1:25.6 | Zoltan Posar's analogy of how reserves are kind of like poker chips. Do you remember that? |
| 1:31.4 | We have lots of different kinds of monies in the existing system. |
| 1:35.1 | And they might even have the same name like dollars, dollars, dollars. |
| 1:38.0 | But a lot of them are sort of like all pegged to each other one-to-one, cash, |
... |
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