Ukraine War Accelerates The Fall Of The Dollar

Last week, former NY Fed staffer Zoltan Pozsar sparked a shockwave across Wall Street when in his latest research piece, he suggested that as a result of the Ukraine war, which has resulted in a "commodity collateral" crisis (and which is quickly transforming into an old-school liquidity crisis), China's PBOC will soon emerge as a dominant central bank and as the commodity-backed yuan ascends to a position of power, the world's reserve currency, the dollar, would lose much of its global clout leading to even higher inflation across the western…