Hedge fund manager and macro economic expert Hugh Hendry issued a major warning on the US banking system and the US economy; telling people to ". . .panic."
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.”
When it comes to where Americans can place their capital amid the uncertainty, Hendry says his go-to is US Treasuries and potentially Bitcoin.
“It’s time to own the most reviled security in the universe, the ultra long Treasuries. I know you all think we’ve got an inflation problem. It was a supply shock, and a supply shock needs the manifestation of more and more bank printing of loans to propel it into the future. We’re getting the opposite. The ultra longs are trading two to three standard deviations below the ETF…
I’ve not got the bug, but Bitcoin is something I could conceive as an asset class that could trade three or four times higher in the next five years. There is no other asset class that I could make that determination.”
It would not be too surprising if some sort of restrictions of closing large accounts and short selling banking stocks or indexes were to appear.
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Quote:Oh great "guru," surly there is more to say. We beg of thee, please
forbid your ominous ego from consuming us. All heil "guru."
Just by looking at him you can tell he's a devious scoundrel. I wouldn't trust him any further than I can throw him.
Well there you go; it's the devious scoundrel look.
Is this guy NUTS? Why on Earth would I want to buy worthless pieces of paper from a bankrupt government?? Put your excess money in tangible items… and not just precious metals. Things that you can hold in your hot little hands… not toilet paper like government securities!
Sounds like he’s shilling for people to buy Treasury bonds to prop them up for a while longer. Another reason to stay away from them.
Guy’s a useful idiot.
Do you remember Crummer telling everyone to buy Lehman stock when he knew he was being paid to support a dying bank?
I remember 2000 where I couldn't even buy a job.
The one and only time I needed to apply for unemployment, I was denied.
2008 was a tough year businesses were canceling orders like it was the hip thing to do. It was very lean.
This year is shaping up worse than 2008. Prepare accordingly.
My advice, don't expect that it is going to all fall down. However you can mitigate your own personal hazards by cutting back on the extraneous. Do you really need coffee store coffee and treats? Do you really need to buy toys that you only use once or twice a year. Do you really need that 2 weeks on a tropical beach vacation? Is your car paid for? If so maybe repairs vs upgrade is in order. Pay down credit card debt and stop buying stuff with it. Deactivate your online shopping accounts.
If it all falls apart, it won't matter. However if it gets really really tight, you may be able to hold your shit together longer than the next guy.
One thing I have noticed. I am usually EARLY in my plans. Meanwhile, the wheels of this world keep turning and I get older. Life just goes on but with lower quality. A little less each year. I now plan for my family and don't expect to live long enough to fully need the equipment and provisions I have saved up. Rome was not built in a day and it didn't fall in a day.
So, you do the best you can. The sailboat way is good but limited in many ways, storage being one. But having options in location choice is a plus. If and when things go real bad, it's the finances and the ability to transfer those finances that may be a huge hurtle to overcome outside the US for a US citizen traveling abroad. We might not be a welcome guest in many places and the dollar may not be welcome either.
Do yourselves a favor and listen to more credible experts such as Martin Armstrong.
The DS wants a financial panic to add to the cacophony of their border collapse/Rex 84 scenario.
There's no hidin' place down here
You know, there's no hidin' place down here
I went to the rock to hide my face
But the rock cried out, no, no hiding place down here
I wanna tell you that there's no hiding place down here
Don't you know there's no hiding place down here?
Yeah, I went to the rock to hide my face
But the rock cried out, no, no hiding place down here
And when the sinners gonna be runnin'
At the knowledge of their fate
They're gonna run to the rocks and the mountains
But their prayers will be too late
You know, they never thought about Jesus
Not knowing the end was now here
But they'll be runnin' tryin' to find a hidin' place
When it comes their time to die
I said now, no hidin' place
When the water start boilin', no hidin' place
World catch on fire, no hidin' place
Down here, no hidin' place
Yeah, I went to the rock to hide my face
But the rock cried out no, no, no, no hidin' place down here
Don't you know when the world catch on fire
There'll be no hidin' place?
The water start boilin' there'll be no hidin' place
Oh, when the thunder start rollin', there'll be no hidin' place
Sinners start runnin' there'll be no hidin' place
Can't you see the gambler runnin' sayin', "Lord, save my soul!"
And the liar runnin', sayin' "Jesus, save my soul!"
You know, there's no hidin' place down here
There's no hidin' place down here
Yeah, I went to the rock to hide my face
He cried out, no, no, no, no hidin' place down here
Most don't know that under our current monetary system (fractional reserve system) it is illegal for a bank to lend money. It can only issue credit. At the time of a bank loan, money is created out of thin air and your promise to pay it back (usually with interest). Without loans, the money supply in circulation contracts.
During the depression, few banks were lending so money was not being created. "Hey buddy, you got a nickel to spare?" Nope.
How about today? Well, we see the "everything bubble" blow out to historic proportions so we can check that off. Now we are at the "break" stage where banks are upside down and mostly insolvent. So what can we expect next? Credit contraction. A tightening of credit, loan defaults, banks not lending, banks calling in the notes, foreclosures, distressed assets being scooped up pennies on the dollar and bank consolidations.
It's already started. You see a "fractional reserve debt credit system" has a mathematical shelf life. At the time of the loan, the interest money is never generated into existence like the principal. So the money supply is always short the interest. On top of that, the interest is often "compounded" and amplified over time. So where does the interest money come from?
After a while, the interest amount owed becomes greater than the money supply. Game over. When this happens on a national level, you lose your country to your creditors. The "new world order" is an asset consolidation on a world wide scale. The "great reset" is the foreclosure.
Get it now?
Anything connected with the establishment is a potenial tool of their own brand of mis-information to trigger panic..
Walk by Faith and you won't be moved in fear..
33 Reasons To Stop Watching The "NEWS"!
Castrated America ,,, the goal of Globalism,,, Power-Pyramid of Black(Dark) Nobility t=47
A great conspiracy, against the populace, to control the world,,, while concealing mankinds actual history,, but hijacking the clues left via ancient symbols..
M2 definition includes money market funds. When deposits are moved from a bank to a money market fund M2 doesn't change because M2 includes both of those.
As for the gov't blocking bank withdrawals, this is more nonsense. The gov't is the beneficiary of the money moving from the banks to Treasuries. When deposits are moved from a bank into US Treasuries, the gov't is getting a loan.
Add to that the Fed knows the way to quiet a bank panic is to feed the run. They let people withdraw money, they increase lending to troubled banks so the banks can meet withdrawal demands, then when the people see that no one was refused a withdrawal they deposit in the bank again. This is why the Fed recently created a new lending program for banks that does exactly that. The Fed has shown by their actions how they will deal with this problem.
Finally, that this guy is recommending we panic is proof that he's at best ignorant or reckless and at worst a shill for Davos. Either way not a guy you should take financial advice from.
Good additions, DD.
And remember when the Fed stopped reporting M3 in the early 2000s ? That was because it was surging and being too revealing of policy foolishness. Now we are getting that M3 component coming out of the woodwork to combat scarcity and hence cause inflation. That can has reached the end of the road and the Fed can't kick it any farther, hidden or not.
I agree with Hendry that the M2 supply is going down to the abyss lately. I'm not sure whether that is going to be inflationary ( if the Fed tries to print it away ) or deflationary ( because of widespread loan defaults due to crashing velocity of money which isn't there ). But I must say, people pulling out their money simply to put it into money market accounts reveals a basic misunderstanding most people have about money; money in this nation prior to about 1880 was originally a tool primarily to save value for later investment in productive capital, with a skim for living expenses. That's why there was no inflation at all prior to then ( Lincoln's illegal defaulted "greenbacks" during the 1860's war notwithstanding ).
The near-total financialization of the world economy has caused people to lose the plot almost completely. This includes Hendry, who only can see what other financial depository he might put his money into. He seems to be totally unable to think of life as consisting of any real, actual, productive work. Most of us have lost all ability to see the uses for money beyond "yield", whether in this financial instrument, or that.
Hendry is right to advise us to "panic" - the panic necessary is to withdraw from the banks alright, but find uses for the remaining purchasing power of the money in something productive. Yes, there is risk in investing in someone's productive ( meaning of actual use to mankind in living ) enterprise, but do we not think there is risk in investing in the long Treasuries when the Printing Press Fed and Treasury go mad to try to simulate and stimulate value by endless credit emission, taking all Dollars to Zero, including USTs and Money Markets ? Or when the government which obviously has power to prohibit bank withdrawals can also decree the Internet shut down or all data be wiped due to the need for an "emergency" reset ?
Claims and promises are the only substance that the current financialized economy is right now. Hendry can only see transferring make-believe "assets" into other claims and promises. He has been successful only because playing the paper game against other people works for a long time, until it doesn't. When the whole Jenga tower of promises and claims on paper ( or kilobytes ) collapses, the thing that the government will find most inconvenient to confiscate or suppress is a base of real assets that both organically grow the real economy ( which is relatively unaffected by currency nonsense ), and may be defended physically.
That's probably where he belongs. He looks about as trustworthy as a swamp alligator.
The big benefit is that you can prove that a given amount of crypto is actually valid and there. This is difficult with current currencies and money. It can be difficult to determine if a physical dollar is real or counterfeit or whether the funds in your bank account are actually there. Even with physical gold or silver you have the issue with determining if it is real or fake, and if it is real, has it been diluted?
Our economy is crashing and most people have no clue.
They cast their silver into the streets, and their gold is like an unclean thing. Their silver and gold are not able to deliver them in the day of the wrath of the Lord. They cannot satisfy their hunger or fill their stomachs with it. For it was the stumbling block of their iniquity.
In the tribulation period they're not going to let you slip through the 'net' and survive on any metal or crypto awaiting a great new day.
It might provide some additional comforts during the trials that are coming, or maybe to help feed others, but it won't let you escape this Rev 13:16-17 16 Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, 17 so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name.
#1 Investment Tip - lay up your treasures in heaven and work to strengthen your faith in Jesus Christ for the day of trial. Your reward will be safely waiting for you.
Rev 3: 21 The one who conquers, I will grant him to sit with me on my throne, as I also conquered and sat down with my Father on his throne - Jesus Christ
You use the qualifier “nothing” which is totally exclusive and a
false assumption in your reasoning and the scriptures do not
support your statement.
Nor do the scriptures state that “all” people participate in the
Rev 13:8 “And all that dwell upon the earth shall worship him (Beast),
whose names are not written in the book of life of the Lamb...”
...everyone worships the beast except the saints during the tribulation.
Those whom cast their gold and silver into the streets are the ones
who have accepted the mark.
There has always existed a parallel economic system to any, and all,
that have existed throughput history. Gold and Silver was set up by
God to be “His” money and He makes a way for His.
Those whom identify with your position are usually the ones making
excuses as to why they failed to prepare with such. Failing to prepare
is preparing to fail.
Please stop misleading others.
You will not be 'capable of living' with gold/silver/crypto outside of the CBDC. Need gas - CBDC, need to get a Driver License - CBDC, need to pay property taxes - CBDC, your phone bill, utilities, kids clothes, school lunches, the list goes on??? What then...?
Sure you can trade a Silver Eagle with your neighbor for a chicken, what's he going to do with it??? Do you not think they will confiscate as they did before, or at the very least make it illegal? And there will be plenty of those "woke" crew to turn you in for a couple of CBDC reward.
You assume a parallel economy and as I said before - as it states in Rev 13:16-17 you will not. After they take your house for delinquent taxes and they have checkpoints everywhere during you know what, what then?
Survive in the woods while autonomous drones with IR sensors circle around in perpetuity powered off of 5G with yours being one of the faces in the database as a dissenter? Every AI drone, robot, android, dog, cat, bird whatever will hunt you. 5G will give them full spectrum dominance.
That isn't living to me, I would class it as survival until they catch up with you. Satan's goal is to KILL you - not let you get by on some parallel system and he's got plenty of helpers.
But, yes, some will survive the mark of the beast to the return of Christ as it states in Daniel, probably not many though.
And where does it state in Scripture that only the people that have taken the mark will throw their gold and silver into the streets? - I don't recall reading that before.
You seem to imply that I'm aloof and not prepared for anything, I can assure just the opposite, but the point of my post was to quit worrying about what's happening here and focus on strengthening your faith in Christ to survive the day of trouble. Those weak in faith will go for the beast system, even those professing to know Christ. This will be the fear over faith crowd.
Those who do refuse? The answer is clear - Rev 6: 9 When he opened the fifth seal, I saw under the altar the souls of those who had been slain for the word of God and for the witness they had borne.
Good luck to you brother, I appreciate your zeal and don't at all disagree conceptually, but as they say...it's easier said than done...
I'm for the outcome where I have absolute certainty in that outcome and that is through my Lord and my God - Jesus Christ. - God Bless!
Thank you for confirming that Rev 6: 9 has nothing to do
with gold and silver.
All you are doing is jumping through hoops to support your failed logic.
As those with the mark will be experiencing heavy handed
restrictions on what they can and cannot purchase, I'm
sure that many of them will become engaged with gold/silver
transactions to their advantage.
Your problem is that you have everything wound
up too tight.
Quote:...Deliver them from "what?" Starvation? Car payments? Electric bill?
The casting of gold into the street are the elite and wealthy as
they realize they trusted in their "excessive" wealth instead of God.
This does not mean the average person should avoid any effort to
acquire gold and silver for future transactions.
This is thee end game. Matthew 24 is in play, it's happening...here's an excerpt;
21 For then there will be great tribulation, such as has not been from the beginning of the world until now, no, and never will be. 22 And if those days had not been cut short, no human being would be saved. But for the sake of the elect those days will be cut short.
I'm not sure what you think the world will look like as this prophecy continues to be fulfilled. Perhaps check out the Grey State trailer on bitchute for what it will likely look like, in the day of trouble.
We are close to witnessing 1/4th of the earth die when the horse of your namesake rides; almost 1.2bn people die and that's just the start. What then? Total and complete chaos...
Drones, robots, droids are never going to allow you operate a parallel economy. What would you even communicate with? You will need CBDC to establish any kind of communication, they will have no trouble locating walkie talkies, CB's, ham radios...
And...the wealthy will never cast their gold and silver into the streets. They worship it, why would they cast it out?
I have no problem with acquiring metals, but it's a way around their crypto - do you really think they will allow it?
Again, my point is to increase your faith in Jesus Christ and not trust in the material, Proverbs 14:12 there is a way that seems right to a man, its end is the way to death.
If you think that's failed logic, so be it, but in the day of trouble you will need a friend and His Name is Jesus Christ!
And they shall go into the holes of the rocks, and into the caves of the earth, for fear of the LORD, and for the glory of his majesty, when he ariseth to shake terribly the earth.
In that day a man shall cast his idols of silver, and his idols of gold, which they made each one for himself to worship, to the moles and to the bats;
Is the public being manipulated to walk in fear rather than in faith??
Concealed from our knowledge by establishment education is the FACT that ancient legends ARE history,,, they are crytic clues of actual events that the people endured during time of great celestial chaos,,, and the people had to hide from the destruction brought upon this planet by the movement of neighboring celestial bodies,, s/a Venus,, the Goddess with long flowing hair, the fiery goddess,, the terrible goddess,, The Comet Venus,, who's tail would sweep across this planet bringing destruction..
We need to sort through the legends & scriptures to be sure we are not being manipulated by the fears of recurring events,,, which were the principle focus of the worlds people during the Ages of Chaos..
Out of the trauma of those times grew the societies & religions that would rebuild,, but some people, who exploited the fear, took people captive in cult-like rituals to appease the gods of destruction..
Jesus came to set the captives free,,,then mankind recaptured them by adopting the symbols and tradition of the former times..
The Saturnian death Cult has risen to power and is holding people in the bondage of fear of things past which won't happen again...
the Saturnian Power Cult? aka Saturnian Death Cult,, says these authors:
Cosmic-Plasma-in-Mythology.ddns.net draws together links to clues revealed by the Thunderbolts Project,,, Thunderbolts.info (an non-religious project)
The Destructive Astronomical Events Of The Ancient World Return,
To Become The “Signs In The Heavens” That Are Fast Approaching.
You are correct about the planet Venus and the Comet Plasma
Discharge Model, as such was pioneered from the work of
Prof. James McCanney, MS in classical Physics. I have studied
his work for over two decades.
The ancient people were terrified of Venus as it made 3 passes
close to earth, over a 600 year period, while settling into it's current
position around the sun.
Planet-X, Comets and Earth Changes by Professor James M. McCanney, M.S.
“Planet X Update 2020- The Real History of Planet X” eBook – front & rear covers & Table of Contents
Surviving Planet-X Passage by Professor James M. McCanney, M.S.
A 60 page pamphlet … a guide to expected “Earth Changes” and how to survive them is based on historical records of past events... a section on myths and misinformation being propagated on the internet today, a 12 month time scenario for the time prior to the passage of a Planet-X type of object including “action at a distance” effects.
But they will never be safe from the Lord..down there or among the stars.
Colloidal Silver and Colloidal gold for health problems. Can,t do that with paper money.
December 2005: The Chinese Defense Minister, Chi Haotiaon delivers a speech to the Chinese military leaders outlining the inevitable “expansion” of China into Canada, the U.S., and Australia — He justifies this because of Chinese racial “superiority” and thus “emminent domain”. To accomplish this, American would first have to be “Cleansed” by means of a powerful “biological weapon” — causing 150 -200 MILLION AMERICAN DEATHS!!! The plan would be enacted AFTER the symbolic OLYMPIC GAMES beginning at the sacred day of 8-08-08 are concluded. China begins buying oil and gas futures, spiking the worldwide prices to historic levels.
What comes out of the ground is real value.
Truth shall spring out of the earth.
your bank deposit acct. and INTO a money
And where does that money market fund put
your money - INTO US TREASURIES of
And what did Hal just say about US Treasuries -
nobody will buy them because the US is
bankrupt and everybody sees that...
pardon me while my head explodes...
Stay sober Dave, ur doing good!
to take some money OUT of your money market
fund and get some cash in your hand???
doesn't it have to go back through your bank
account which has been locked down???
I am no longer smart enough to figure out the
most basic financial transactions...