5 months ago
1 min read
US Government May Freeze American Bank Withdrawals as Currency Crisis Looms, Says Hugh Hendry
Macro guru Hugh Hendry has issued a major warning about the US banking system and the American economy. In a recent interview with Bloomberg Markets, Hendry stated that panic and capital flight away from the US banking sector are entirely justified. He believes that a further decline in the M2 money supply, which partly tracks money in liquid checking accounts, could prompt the US government to intervene and prevent citizens from taking their capital out of the banking system. Hendry says the capital flight from US banks is not solely about fears of whether the FDIC will insure deposits above