Arcadia Economics: If Russia Accepts Gold for Oil, Silver Quintuples (w/ Rafi Farber)

Arcadia Economics Premiered Dec 9, 2022 Zoltan Pozsar, Head of Short Term Interest Rate Strategy at Credit Suisse, is at it again with his monetary musings. This time, he says that Russia may respond to a $60 price cap on its oil by only accepting payment in gold. Read if for yourself here: Doing that would double the gold price almost overnight, he says, and he’s probably right. By implication, it would also quadruple-to-quintuple the silver price. But why would Putin offer a discount for oil if paid in gold? To answer that question, just answer this one first: In…