Popular Articles
Today Week Month Year


Expert warns: Banks will claim that your money is no longer yours, may freeze bank withdrawals
By Belle Carter // Apr 19, 2024

Hedge fund manager and macro-economic expert Hugh Hendry has alerted the banking system and the American economy as a whole.

"President Joe Biden's administration may be looking at ways to lock down your checking account, literally ban withdrawals from the banking system," he warned.

In a new interview on Bloomberg Markets, Hugh Hendry said that mass panic and capital flight away from the United States' banking sector is entirely justified. He added that a further decline in the M2 money supply could convince the U.S. government to step in and prevent citizens from taking their capital out of the banking system. M2 is a measure of the money supply that includes cash, checking deposits and other deposits readily convertible to cash.

"Sometimes it's kind of relevant to panic. I would recommend you panic… You’ve seen the biggest waterfall decline in M2 right now," said Hendry. "M2 is deposits, not loans. That's the deposits fleeing the system and going into money market funds."

He pointed out how the administration has been driving the economy to this situation. Hendry added that the bureaucrats Biden has installed in the federal government have already moved to force Americans to buy electric cars, limited the kinds of appliances they can buy, censored the questions they can raise about fair elections and much more.

"Now the next step could be your bank account," the economics guru said. "This could reach a crescendo where the Treasury and the Fed may have to come in and actually restrict your right as a U.S. citizen to pull money out of the U.S. banking sector."

We are building the infrastructure of human freedom and empowering people to be informed, healthy and aware. Explore our decentralized, peer-to-peer, uncensorable Brighteon.io free speech platform here. Learn about our free, downloadable generative AI tools at Brighteon.AI. Every purchase at HealthRangerStore.com helps fund our efforts to build and share more tools for empowering humanity with knowledge and abundance.

He also explained that capital flight from banks is not solely about fears of whether the Federal Deposit Insurance Corporation will insure deposits above $250,000, and a blanket guarantee on deposits would not solve the problem. According to Hendry, there is capital flight, deposit flight from the banking sector seeking yield. He said he is scared that as in 1934 the Federal Reserve Act confiscated gold from U.S. citizens. And so, he advised that when it comes to where Americans can place their capital amid the uncertainty, his go-to are U.S. Treasuries and potentially Bitcoin.

"It's time to own the most reviled security in the universe, the ultra-long Treasuries. I know you all think we've got an inflation problem. It was a supply shock, and a supply shock needs the manifestation of more and more bank printing of loans to propel it into the future. We're getting the opposite. The ultra longs are trading two to three standard deviations below the ETF," he said.

Even former President Donald Trump has long been warning that once people put their money in banks, the money is no longer theirs and the system will find a way to not give it back.

"Our currency is crashing and will soon no longer be the world standard," Trump said. (Related: 1.8M fraudulent transactions led banks to close accounts of innocent customers without warning or explanation.)

Shock-proof assets

Treasuries are considered more reliable and safer assets since the government backs them and they come with a fixed interest rate for the life of the bond. Bitcoin is a potential winner as well, with Hendry predicting it could trade three or four times higher in the next five years.

"There is no other asset class that I could make that determination," he said.

An article on Moneywise suggested two more shock-proof assets. First is real estate, which has long been an excellent hedge against inflation and it could be a safe bet when other financial assets face turmoil. While you could become a landlord and rent out a spare room for some passive income, there are other ways to invest in real estate that don't come with the hassles of hosting. For example, real estate investment trusts own various properties such as apartment buildings, shopping centers and cell towers, and many are publicly traded on the stock exchange. Also, crowdfunding platforms, which allow investors to own a percentage of physical real estate.

Another one is the precious metal, gold. There are several ways for you to bank on gold while cash could veer out of reach. The first tried-and-true method is to just buy solid gold, whether that's in jewelry, bars or coins. Just keep in mind that prices can be notoriously difficult to predict, and you'll also need to pay extra fees if you're keeping your gold with a special custodian or broker. Your next option is to buy gold mining stocks or invest in gold ETFs through an investing app or broker.

Watch the video below that talks about an incoming banking crisis.

This video is from Thrivetime Show channel on Brighteon.com.

More related stories:

CASHLESS DOWN UNDER: Australia gears up for CBDC rollout, with major banks banning OTC cash withdrawals.

Iraq to BAN cash withdrawals and transactions in U.S. dollars starting next year.

NatWest bank issues further de-banking measures with new cash limits, prompting criticism from de-banked Nigel Farage.

Sources include:

DailyHodl.com

100PercentFedUp.com

Finance.Yahoo.com

Brighteon.com



Take Action:
Support NewsTarget by linking to this article from your website.
Permalink to this article:
Copy
Embed article link:
Copy
Reprinting this article:
Non-commercial use is permitted with credit to NewsTarget.com (including a clickable link).
Please contact us for more information.
Free Email Alerts
Get independent news alerts on natural cures, food lab tests, cannabis medicine, science, robotics, drones, privacy and more.

NewsTarget.com © 2022 All Rights Reserved. All content posted on this site is commentary or opinion and is protected under Free Speech. NewsTarget.com is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. NewsTarget.com assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published on this site. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

This site uses cookies
News Target uses cookies to improve your experience on our site. By using this site, you agree to our privacy policy.
Learn More
Close
Get 100% real, uncensored news delivered straight to your inbox
You can unsubscribe at any time. Your email privacy is completely protected.