Watch CNBC's full interview with Allianz's Mohamed El-Erian

Mohamed El-Erian, Allianz and Gramercy advisor and president of Queens' College, Cambridge, joins CNBC's 'Squawk Box' to discuss inflation, markets and more ahead of the open. El-Erian explain why he thinks we are "nowhere near" the end of our inflation challenge and breaks down moves in crypto and gold. "The concern for the crypto people is that this decline is happening at a time when gold is up and hitting almost $2,000," El-Erian tells CNBC.