Zoltan Pozsar: Famous Banker Discusses the Possibility of Third World War; Industry and War

This article was written 5 months after the Russo-Ukrainian War.
Zoltan Pozsar, was a senior adviser at the U.S. Department of the Treasury, was an expert on global macroeconomic affairs, central banking and finance. At U.S. Department of Treasury, Mr. Pozsar was responsible for developing the framework to monitor risk and collateral intermediation activities in the financial eco-system and evaluate their impact on macro-financial conditions. He also served as Treasury’s liaison to the Financial Stability Board on matters of financial innovation.
Pozsar was deeply involved in the response to the global financial crisis and the ensuing policy debate. At the Federal Reserve Bank of New York, he played a key role in gathering market intelligence for the Fed Open Market Committee. He led the effort that backstopped securitization markets in the aftermath of Lehman, and pioneered the mapping and understanding of the shadow banking system. At the International Monetary Fund (IMF) he crafted policy responses to shadow banking. He consulted G7 policymakers and various G20 working groups.
Pozsar has written extensively on the global economy, shadow banking, wholesale funding and Treasury debt management. More recently he co-authored with Paul McCulley on the changing role of fiscal and monetary policy in a liquidity trap. His work has served as the basis of policy initiatives and was cited in the Financial Times and The Economist. In 2015, he left the U.S. Treasury department to join Credit Suisse Bank as a director, and was later promoted to a managing director responsible for this bank’s short-term interest rate strategy. At Credit Suisse, Pozsar correctly predicted a major shift in U.S. purchase agreement markets that occurred in 2019.
He left Credit Suisse Bank in May 2023. The following month, Pozsar announced the launch of his own advisory firm called Ex Uno Plures, a reversal of the Latin phrase ‘e pluribus unum’ that means ‘out of one, many,’ where he would offer clients insight into the dollar system.

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