“That probability [of banks freezing your money] like mercury is rising because we experienced the Fed folly,” says Hugh Hendry, former global macro hedge-fund manager. “The Fed hiking is the fastest with the greatest magnitude. They have never done this before,” he argues, explaining that rate hikes inherently destabilize the U.S. banking system as banks are no longer able to match the federal-funds rate. However, Hendry argues that the Fed's recent 25-basis-point increase shows the central bank has failed to learn from the ongoing banking crisis. “As banks are offering 5% CDs, their net interest margin now is heading to zero,” Hugh warns. Hugh compares central bank digital currencies with TikTok because the two elicit much debate but he doesn’t see a legitimate reason for concerns. He concludes that de-dollarization is a “bluff” and doesn't treat it as an imminent threat. Video by Stansberry Research.
Instant access to online trading, anytime and anywhere.
Invest in the world's most popular and sought-after assets. Everything you are looking for in an ultimate investment platform — on the device of your choice.
-$10 Minimum Deposit.
-Free $10 000 practice account.
-Trade 7 days a week, 24 hours a day.
-$1 Minimum Investment.
Try Free Demo Trading >>
