Just In: Biden Admin Could Freeze Bank Withdrawals, Amidst The US Dollar Attacks
We saw this on several news sources today. If you have any faith left in the US banking system, the question to ask yourself is… WHY?
Now might be a good time to reevaluate things.
Hedge fund manager and macro economic expert Hugh Hendry just issued a major warning on the US banking system and the American economy as a whole.
In a new interview on Bloomberg Markets, Hendry says mass panic and capital flight away from the US banking sector is entirely justified.
Hendry says a further decline in the M2 money supply, which in part tracks money in liquid checking accounts, could convince the US government to step in and prevent citizens from taking their capital out of the banking system.
“Sometimes it’s kind of relevant to panic. I would recommend you panic… You’ve seen the biggest waterfall decline in M2 right now. M2 is deposits, not loans. That’s the deposits fleeing the system and going into money market funds.
That could reach a crescendo where the Treasury and the Fed may have to come in and actually restrict your right as a US citizen to pull money out of the US banking sector.”
