They’re Coming for Your Bank Account!

23 Jun

They’re Coming for Your Bank Account!

A looming bank crisis is creating the perfect pretext for the forced introduction of Central Bank Digital Currencies!

That’s the conclusion of noted author and financial commentator John Rubino.

In his Substack newsletter, Rubino describes two dangerous financial trends that are converging now:

  1. “Central banks are conspiring to force us out of traditional savings and checking accounts and into central bank digital currencies (CBDCs).”
  2. “Deposits are now fleeing local and regional banks because an inverted yield curve makes it impossible for those banks to pay competitive interest rates on deposits. Put another way, there’s a shortage of dollars in the banking system, which is an existential threat for a lot of banks.”

Rubino, in turn, cites an article about Eclectica Asset Management founder Hugh Hendry, who believes that investors pulling deposits from banks may force the Fed to place limits on withdrawals.

“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,” says Hendry.  He likens the current situation scenario to 1934 when a desperate government confiscated the people’s gold.

“I would recommend you panic,” he Hendry.

According to Rubino, the crackdown “will begin with more Silicon Valley Bank-style failures, leading the government to ‘protect’ the banks by limiting depositors’ ability to pull their money out. This in turn will make banks even less attractive to depositors, leading to an acceleration of withdrawals and a surge in bank failures. Which gives the Fed its pretext.”

What should you do?  Act before the crisis hits!

“One certainty,” says Rubino, “is that in a bank run/deposit freeze/CBDC forced adoption, money will pour out of the banking system — and out of the dollar generally — and into gold and silver.”

As usual, the best advice is this:  Don’t wait until it is too late. Speak with your Republic Monetary Exchange gold and silver professional today.