The U.S. banking crisis may not yet be over, at least one expert is warning, despite the failures of Silicon Valley Bank and First Republic appearing to be in the rear-view mirror.
Hedge fund manager and macroeconomic expert Hugh Hendry recently voiced concerns that the government could step in to prevent American bank withdrawals.
“I would recommend you panic,” Hendry told Bloomberg, pointing to what he calls “the biggest waterfall decline” in the M2 money supply — which consists of cash, checking deposits and other types of deposits that can be easily converted into cash, such as a certificate of deposit.
“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.”
Here’s why he’s concerned — and where he recommends you put your money.
https://finance.yahoo.com/news/macro-guru-us-government-may-113500447.html
h/t BoatSurfer600