Earlier this month, former NY Fed repo guru Zoltan Pozsar wrote one of his most important reports of 2022, in which he described how Putin could unleash hell on the Western financial system by demanding that instead of dollars, Russian oil exporters are paid in gold, effectively pegging oil to gold and launching Petrogold. Such a move, Zoltan said, would lead to an immediate overnight banking crisis due to the synthetic gold short held by most western banks.
By Tyler Durden
