U.S. May Freeze Bank Withdrawals as Currency Fear Rises, Expert Warns

An expert in economics is warning that the Biden administration may be looking at ways to lock down your checking account – literally ban withdrawals from the banking system. . .

Now the next step could be your bank account, according to macro economics guru Hugh Hendry. . .

The report explained, “Hendry says a further decline in the M2 money supply, which in part tracks money in liquid checking accounts, could convince the U.S. 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,” he explained. “That 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.” (Read more from “U.S. May Freeze Bank Withdrawals as Currency Fear Rises, Expert Warns” HERE)

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