Hedge Fund Manager: "US May Freeze Bank Withdrawals," Small Business Sentiment Down, #SBF Files For Dismissal - Read, Share, & Subscribe - SherlocExposes.com
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“Hedge fund manager and macroeconomic 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.’
Hendry says capital flight from US banks is not solely about fears on whether the FDIC will insure deposits above $250,000, and a blanket guarantee on deposits would not solve the problem.
‘There is capital flight, deposit flight from the banking sector seeking yield. I fear that I don’t say this lightly, but in 1934 the Federal Reserve Act confiscated gold from US citizens.
We’re at the point where the Fed and Treasury officials I’m sure are having to consider a gate a lock on US bank deposits.’”
Watch the Bloomberg interview below.
“U.S. small business confidence fell to more than a 10-year low in April on worries about the near-term economic outlook and persistent worker shortages, but there were few signs that businesses were having difficulties accessing credit.
The National Federation of Independent Business (NFIB) said on Tuesday its Small Business Optimism Index dropped 1.1 points to 89.0 last month, the lowest level since January 2013. It was the 16th straight month that the index remained below the 49-year average of 98.
Higher interest rates tied to the Federal Reserve's battle to tame inflation combined with tighter credit conditions following recent financial market stress are stoking fears of a recession this year. A fight over raising the federal government's borrowing cap is also helping to cloud the economy.
While the survey hinted at an economic slowdown, economists cautioned against reading too much into the drop in sentiment.
‘The decline is broadly in line with the weakness in consumer sentiment seen over the past year,’ said Michael Pearce, lead U.S. economist at Oxford Economics in New York.”
“FTX founder Sam Bankman-Fried sought a dismissal of criminal charges against him in a court filing late Monday, saying prosecutors have improperly made federal crimes out of civil and regulatory issues that resulted from an industrywide collapse of cryptocurrency markets dubbed the ‘crypto winter.’
Lawyers for the onetime head of a multibillion-dollar cryptocurrency exchange said in papers in Manhattan federal court that the U.S. government had a ‘dramatic — and troubling’ response to a broad market crash in cryptocurrency last year that affected every corner of the market.
They said Bankman-Fried’s non-U.S. FTX company lasted far longer than others in the industry before it entered bankruptcy in November when the global exchange ran out of money after the equivalent of a bank run. A trial is tentatively set for the fall.
Prosecutors alleged in December that Bankman-Fried cheated investors and looted customer deposits on FTX to make lavish real estate purchases, donate money to politicians and make risky trades at Alameda Research, his cryptocurrency hedge fund trading firm. U.S. Attorney Damian Williams has called it one of the biggest frauds in U.S. history.”
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Here’s the question you should be asking: Will the people with the power to really do something about this act in the best interests of the public… or will they save their own skin?
Interesting indeed.
Know. Your. Foe.
What Does This Mean?
The current economic structure of the world is bursting at the seams and beginning to fall apart.
For the first time in modern history, the UNITED STATES is looking into the abyss economically, and losing its status as the world’s leading economic power.
Combine that with being technically bankrupt, banks all over the world being technically insolvent, and the real possibility of a worldwide economic depression, and you have the perfect storm for YOUR WEALTH to be wiped out, completely.
Should we remind you that Biden killed our oil export status, as well? So, essentially, our currency is backed by nothing and has the trust of no one.
Why Should I Care?
If you don’t believe everything we just shared to be true, then you shouldn’t care… everything will be fine, right?
“There’s no way the world works without the US dollar…”
If you are blessed to have means, start thinking about what you, your family, and your community are going to need, and how commerce will happen in a super local economy.
Tell people about what’s happening. Don’t argue, SHARE. Let them see it for themselves, then get them to subscribe to this newsletter.
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https://www.al-monitor.com/originals/2023/05/lebanons-angry-depositors-demand-their-money-back-banks
People of Lebanon have been dealing with this for 4 years now- their own money on Bail In