Popular Articles
Today Week Month Year


Biden administration may ban bank withdrawals amid decline in M2 money supply, Hugh Hendry warns
By Laura Harris // May 16, 2023

Hedge fund manager Hugh Hendry has warned that the Biden administration is mulling a freeze on U.S. bank withdrawals amid the decline in M2 money supply – a benchmark measure of how much cash and cash-like assets is circulating in the U.S. economy.

"Sometimes it's kind of relevant to panic. I would recommend you panic," he said. "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. Hendry further warned that it could reach a point where the Department of the Treasury and the Federal Reserve will restrict the rights of Americans to withdraw their money. (Related: Health Ranger Report: Desperate U.S. banking system will LIMIT cash withdrawals to stop bank runs.)

He recounted that back in 1934, the federal government confiscated gold held by U.S. citizens in a private capacity by means of the Gold Reserve Act. It was only in 1974 that citizens were allowed to freely own and deal with gold once more, thanks to an Act of Congress signed by former President Gerald Ford.

Biden insists banking system is "safe and sound"

Hendry's warning followed hard on the heels of the failure of First Republic Bank (FRB), the third such institution to collapse in the past three months after Silicon Valley Bank and Signature Bank. Still, President Joe Biden is insisting that the U.S. banking system remains "safe and sound."

The chief executive encouraged Congress to provide federal regulators with all the tools they need to sell the distressed FRB and ensure all bank executives are accountable for the second-largest bank failure in U.S. history.

Human knowledge is under attack! Governments and powerful corporations are using censorship to wipe out humanity's knowledge base about nutrition, herbs, self-reliance, natural immunity, food production, preparedness and much more. We are preserving human knowledge using AI technology while building the infrastructure of human freedom. Speak freely without censorship at the new decentralized, blockchain-power Brighteon.io. Explore our free, downloadable generative AI tools at Brighteon.AI. Support our efforts to build the infrastructure of human freedom by shopping at HealthRangerStore.com, featuring lab-tested, certified organic, non-GMO foods and nutritional solutions.

"These actions are going to make sure that the banking system is safe and sound, and that includes protecting small businesses across the country who need to make payroll for workers and their small businesses," the president said. "We have to make sure that we're not back in this position again, and I think we're well on our way to be able to make that assurance."

Biden also assured the public that the banking system has "strong capital and liquidity levels" and is "well positioned to absorb potential losses." He also praised the Federal Deposit Insurance Corporation (FDIC) for its swift and effective response to the crisis. Responsible for insuring bank deposits, The FDIC worked quickly to ensure that depositors' funds were protected and that the bank's assets were transferred to a healthy institution.

"The rescue comes less than two months after a deposit flight from U.S. lenders forced the Federal Reserve to step in with emergency measures to stabilize markets," according to Fox Business.

Several laws had been passed, including the one that gave birth to the Consumer Financial Protection Bureau, to avoid a banking collapse similar to the ones in 2008. But the truth is that these laws failed – leading to the collapse and tighter government control that Hendry warned about.

Follow Collapse.news for more news about the American banking system's collapse.

Listen to the full segment of the "Health Ranger Report" where the Health Ranger Mike Adams talks about banks limiting withdrawals to stop bank runs.

This video is from the Health Ranger Report channel on Brighteon.com.

More related stories:

Top 25 US banks lose $89.7B after withdrawals surge following collapse of SVB and Signature Bank.

The next Great Depression begins: Bank run in China being ignored by Western media could be precursor to massive economic collapse.

Hyperinflation meets the Great Depression – Andy Schectman warns Mike Adams about the catastrophic banking collapse now accelerating.

Sources include: 

WND.com

FederalReserveHistory.org

TheEpochTimes.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.