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Will a new world monetary order emerge from the Ukraine crisis?
What is money, when even 'safe' money can be taken away?
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While the international monetary system has proven its limits, there is no immediate alternative in sight, says the writer.
PHOTO: REUTERS
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Is the world about to witness a new monetary order?
Mr Zoltan Pozsar thinks so. The Credit Suisse strategist and former United States Federal Reserve and US Treasury Department official, said the current Bretton Woods II order crumbled when the G-7 countries froze Russia's foreign exchange reserves last month.
