{"id":62037,"date":"2022-02-27T18:30:35","date_gmt":"2022-02-27T23:30:35","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62037"},"modified":"2022-02-27T18:30:35","modified_gmt":"2022-02-27T23:30:35","slug":"pozsar-warns-of-another-lehman-weekend-as-russia-sanctions-may-trigger-central-bank-liquidity-flood","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62037","title":{"rendered":"Pozsar Warns Of Another &#8220;Lehman Weekend&#8221; As Russia Sanctions May Trigger Central Bank Liquidity Flood"},"content":{"rendered":"<header class=\"ArticleFull_header__Eyn7V\">\n<h3 class=\"ArticleFull_title__MEgbb\"><a href=\"https:\/\/www.zerohedge.com\/markets\/pozsar-warns-another-lehman-weekend-russia-sanctions-may-trigger-central-bank-liquidity\">Pozsar Warns Of Another &#8220;Lehman Weekend&#8221; As Russia Sanctions May Trigger Central Bank Liquidity Flood<\/a><\/h3>\n<\/header>\n<div class=\"NodeContent_mainContent__t4rGu\">\n<div class=\"NodeContent_body__6iJOI NodeBody_container__hI8PI\">\n<p>In a remarkable show of force and unity, western powers cast aside all their previous concerns about Russian energy supplies and uniliaterally announced the nuclear option of\u00a0<a href=\"https:\/\/www.zerohedge.com\/geopolitical\/devastating-move-us-weighs-sanctions-russias-central-bank-germany-backs-targeted\">imposing sanctions on the Russian central bank\u00a0<\/a>coupled with targeted exclusions from SWIFT of key Russian banks.<\/p>\n<ul>\n<li>*EU APPROVES BANNING ALL TRANSACTIONS WITH RUSSIAN CENTRAL BANK<\/li>\n<\/ul>\n<p>The move has sparked a\u00a0<a href=\"https:\/\/www.zerohedge.com\/markets\/im-shock-russians-scramble-pull-money-atms-bank-runs-begin\">bank run in Russia<\/a>, as locals scramble to pull out whatever hard currency they can get their hands on before it runs out, and is certain to trigger chaotic moves in FX and commodities when markets reopen in a few hours. Already some Russian banks are\u00a0<a href=\"https:\/\/twitter.com\/PaulSonne\/status\/1497987741354799108\">offering to exchange\u00a0<\/a>rubles for dollars at a rate of 171 rubles per dollar on Sunday, compared to the official closing price of 83 on Friday before the European\/US announcement about targeting the Russian central bank. In other words we are looking at a 50%+ devaluation of the Ruble. Additionally, widespread announcements of divestments in Russian equities by the likes of BP pls and the Norwegian sovereign wealth fund mean that the Russian market will be a bloodbath on Monday.<\/p>\n<p>As Bloomberg notes, commodities\u00a0are heading for a manic start to the week as investors scramble to assess how the West\u2019s latest sanctions on Russia will affect flows of energy, metals and crops.<\/p>\n<blockquote><p>The coming days are fraught with event risk for crude, even aside from the sanctions fallout. There\u2019s a\u00a0midweek meeting\u00a0of OPEC+ on output; the Biden administration may tap stockpiles; and Iranian nuclear talks look to be nearing a conclusion. On top of that, American crude inventories at the key\u00a0Cushing hubcould sink to the lowest since 2014 if there\u2019s another modest draw.<\/p><\/blockquote>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pozsar Warns Of Another &#8220;Lehman Weekend&#8221; As Russia Sanctions May Trigger Central Bank Liquidity Flood In a remarkable show of force and unity, western powers cast aside all their previous concerns about Russian energy supplies and uniliaterally announced the nuclear option of\u00a0imposing sanctions on the Russian central bank\u00a0coupled with targeted exclusions from SWIFT of key [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[61,124,281,5415,694,695,1068,821,827,32688],"class_list":["post-62037","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-banking","tag-central-banks","tag-europe","tag-lehman-brothers","tag-russia","tag-russian-central-bank","tag-swift","tag-ukraine","tag-united-states","tag-zoltan-pozsar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62037"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62037\/revisions"}],"predecessor-version":[{"id":62038,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62037\/revisions\/62038"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}