I, a native speaker of BrE, have never heard it. On this side of the pond normally means in North America to North Americans and in Britain to British people.
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This is a proverb from Persia and the original is ?? ????? ??? ???? (transliteration: poz-e ali, jib-e xali) literal translation: great pose, empty pocket.
The meaning is basically to say "don't strut around like you have a lot of money when you are really penniless"
it would be used to describe someone who likes to show off, like if you know someone who is drowning in student
Mr. TomI want to know if the idiom is common among native speakers.
It's unfamiliar to me in the UK.