Crypto News

Analyst warns of banks’ power to seize funds, decline in US dollar purchasing power – Economics

According to Lynette Zang, chief market analyst at ITM Trading, US banks have legal powers to seize people’s funds under laws passed by Congress. In a recent interview, Zang discussed how the purchasing power of the US dollar has shrunk to “about three cents,” her belief that central bank digital currencies (CBDCs) will strengthen a “surveillance economy,” and the immutable nature of the global economy. known as the Great Reset.

The aftermath of bank bail-ins, CBDCs and the Great Reset

In a recent video interview, Lynette Zang, chief market analyst at ITM Trading, sat down with Michelle Makori, lead anchor and editor-in-chief at Kitco News. Zang spoke about how the US dollar and most major fiat currencies are on the verge of extinction.

Analyst warns of banks’ power to seize funds, decline in US dollar purchasing power – Economics, Crypto Trading News

“People don’t know that everything has a life cycle,” Zang told Makori. “At 68, I’m at a different point in my life than my granddaughter, who will soon be eight. Currencies are no different. There are recognizable patterns that we can see all along the way,” Zang pointed out. The analyst continued:

But I have no doubt about that… I mean, first of all, there’s about three cents left of that [original] Dollars in Purchasing Power… So what happens when you hit zero? They have to get negative and they take your client.

Zang also informed the host that the Dodd-Frank legislation converts depositors into “unsecured creditors.” She stressed that the laws allow financial institutions to easily convert deposits into equity. Instead of “bailouts,” Zang predicts “bail-ins,” in which depositors’ savings are used to prevent a bank from collapsing.

Analyst warns of banks’ power to seize funds, decline in US dollar purchasing power – Economics, Crypto Trading News

“People assume it’s their money when they make a deposit,” Zang said. “But it is not. When you make a deposit, you are legally lending your money to the bank. In 1995 they passed Regulation D, which allowed banks to move their deposits to sub-accounts in the bank’s name.”

Then they use that as collateral for loans, and you honestly know that most of the revenue banks generate now is trade revenue, according to the Office of the Comptroller of the Currency. So this only allows them to reduce their reserves and use your money to play. You don’t even notice it because it’s invisible.

During the interview, Zang predicted that almost everyone will experience a “bail-in” as excessive money printing causes liquidity problems. The analyst pointed to cracks in the US Treasury market, which is the bedrock of the American economy. According to recent meetings, she stated that the Federal Deposit Insurance Corporation (FDIC) is aware of the potential for a significant problem in the US financial system. “They laugh at us,” she said. “[They maintain] that the average retail customer need not understand that there really is no money in the FDIC deposit insurance fund and that they should expect a bail-in.”

During the interview, Zang warned about the potential dangers of central bank digital currencies (CBDCs). She believes these digital currencies will allow for easy tracking of a user’s funds and spending habits, as well as the ability to freeze those funds. Zang sees CBDCs as part of the Great Reset proposed by the World Economic Forum. She argued that wealth never goes away, it only shifts places, and if one doesn’t own it, someone else does. “You might not have anything,” Zang said, “but I’m pretty sure you won’t be happy because you’ll be renting everything,” she added.

What do you think of Lynette Zang’s warnings? Share your thoughts in the comments below.

Analyst warns of banks’ power to seize funds, decline in US dollar purchasing power – Economics, Crypto Trading News

Jamie Redman

Jamie Redman is the news director at News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for News about today’s emerging disruptive protocols.

photo credit: Shutterstock, Pixabay, WikiCommons

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Source: Crypto News Deutsch

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