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Bank of America A W Clausen on petrodollar flow and risk
A W Clausen president of Bank of America and head of the Federal Advisory Council explains the limits of private banks in recycling surplus funds from oil rich nations. He warns of political risk, inflation, and the need for government as well as private financing while defending banks’ role and profitability.
MENTIONED IN THIS ARTICLE
A.W. Clausen
Bank of America
Federal Advisory Council
Middle East Nations
Imf
United States