Peel the potatoes and grate them lengthwise. Place them in a colander or kitchen towel and squeeze out as much liquid as possible. Combine the potatoes in a bowl with the egg, flour, salt, and pepper. Mix well.
Melt 2 tablespoons of clarified butter in a skillet. Drop a heaping tablespoon of the potato mixture into the sizzling butter. Flatten with a spatula and cook for 2 minutes. Turn, flatten again, and cook for another 2 minutes, until crisp on the outside and golden brown. Serve the pancakes hot from the skillet with a dollop of creme fraiche and a teaspoon of caviar.
Note: To make 6 tablespoons of clarified butter, slowly melt 8 tablespoons of butter in a small saucepan. Set it aside until the milk solids settle. Spoon off any solids that rise to the top and then carefully pour off the golden liquid, leaving the milky part in the bottom of the pan. Clarified butter has a higher burning temperature than melted butter.
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