Analyst Warns of Banks’ Authority to Confiscate Funds, Decline of US Dollar Purchasing Power
According to Lynette Zang, chief market analyst at ITM Trading, US banks have the legal authority to seize people’s funds under legislation passed by Congress. In a recent interview, Zang spoke about how the purchasing power of the US dollar has shrunk to “about three cents”, her belief that central bank digital currencies (CBDCs) will strengthen the “surveillance economy”, and the unchanging nature of the global economy. The Forum’s proposal, known as the Great Reset.
The aftermath of bank bailouts, CBDCs, and the “big reset”
In a recently published video interview, Lynette Zang, Chief Market Analyst at ITM Trading, met with Michelle Macori, Lead Anchor and Editor-in-Chief of Kitco News. Zang talked about how the US dollar and most major fiat currencies are coming to an end.
“People don’t understand that everything has a life cycle,” Zang Makori said. “At 68, I am at a different stage in my life than my granddaughter, who is about to turn eight. Currencies are no different. There are recognizable patterns that we can see along the way,” Zang emphasized. The analyst continued:
But I have no doubt… I mean, first of all, there are about three cents left of [original] purchasing power in dollars… So what happens when you hit zero? You have to go into the red and they will take your main one.
Zang also told the host that Dodd-Frank turns savers into “unsecured creditors.” She stressed that laws allow financial institutions to easily convert deposits into shares. Instead of “health care,” Zhang predicts, there will be “a bailout” when savers’ savings are used to prevent a bank from failing.
“People have this assumption that when they deposit, it’s their money,” Zang said. “But it’s not. When you make a deposit, you are legally lending money to the bank. In 1995, they passed Regulation D, which legalized and allowed banks to transfer your deposits to sub-accounts in the name of the bank.”
Then they use that as collateral for loans, and you know, frankly, most of the income that banks make now is trading income, according to the Office of the Comptroller of the Currency. So it just allows them to cut their reserves and use your money to play with. You are not even aware of it because it is invisible.
During an interview, Zang predicted that almost everyone would experience “a bailout” due to excessive money printing causing liquidity problems. The analyst pointed to cracks in the US Treasury market, which is the backbone of the US economy. According to recent meetings, she said that the Federal Deposit Insurance Corporation (FDIC) is aware of the potential for a serious problem in the US financial system. “They are laughing at us,” she said. “[They maintain] that average retail customers don’t need to realize that there really isn’t any money in the FDIC’s deposit insurance fund and that they should be counting on help.”
During the interview, Zang warned of the potential dangers of central bank digital currencies (CBDCs). She believes that these digital currencies will make it easy to track the user’s funds and their shopping habits, as well as the ability to freeze these funds. Zang sees the CBDC as part of the World Economic Forum’s proposed Great Reset. She argued that wealth never disappears, but simply changes its location, and if it does not belong to one, then it belongs to someone else. “You may not have anything,” Zang said, “but I’m 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.
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