Financial Times/Gillian Tett/3-3-2022
“We are dealing with pipelines here — financial and real,” [Credit Suisse’s Zoltan Poszar] recently told clients. “If you jam the flows by making [Russian] banks unable to receive and send payments, you have a problem [like] when a tri-party clearing bank did not return cash to money funds for fear of ending up with an intraday exposure to Lehman.”
USAGOLD note: Gillian Tett posts a warning about the flow of credit saying “it would be dangerous to be too complacent.”
