Biden Administration to Freeze Bank Withdrawals Amid Decline in M2 Money Supply

Biden Admin to Ban Bank Withdrawals Amid Decline in M2 Money Supply, Hugh Hendry Warns Pat Webb May 18, 2023 Hedge fund manager Hugh Hendry has warned that the Biden administration is mulling a freeze on U.S. bank withdrawals amid the decline in M2 money supply – a benchmark measure of how much cash and cash-like assets is circulating in the U.S. economy. “Sometimes it’s kind of relevant to panic. I would recommend you panic,” he said. “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,”…