Odd Lots Zoltan Pozsar and Perry Mehrling Debate Bretton Woods 3.0
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Sep 11, 2022 
Zoltan Pozsar, a Credit Suisse strategist famed for his insights on global currency evolution, joins Perry Mehrling, a Boston University professor and monetary systems expert. They engage in a lively debate on the emergence of 'Bretton Woods 3.0', questioning the dollar's diminishing dominance and the rise of commodity-backed currencies. The duo explores the complexities of U.S. financial systems, central bank challenges, and the geopolitical shifts impacting global economic stability, making for a fascinating discussion on the future of money.
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Diverse Dollar Forms
- The dollar exists in various forms, including physical currency, bank reserves, and digital forms in the offshore Eurodollar system.
- This offshore system, comprising liabilities of non-US banks and assets of non-US citizens, has become integral to global trade.
Dollar's Geopolitical Role
- Zoltan Pozsar adds another dimension to the dollar's definition by highlighting its geopolitical role.
- The dollar's value can be influenced by factors such as resource nationalism and shifts in commodity markets.
Bretton Woods 3.0 Markers
- Zoltan Pozsar's Bretton Woods 3.0 thesis suggests a shift away from exclusive dollar pricing in commodity markets.
- He observes increased inflationary pressures in the West, unlike anything seen in decades, potentially impacting reserve currency statuses.
