According to Lynette Zang, chief market analyst at ITM Trading, US banks have the legal authority to seize people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the US dollar has dropped to “about three cents,” his belief that central bank digital currencies (CBDCs) will reinforce a “watchdog economy,” and the unchanging nature of World economy. Forum’s proposal, known as the Great Reset.
The consequences of bank bailouts, CBDCs and the Great Reset
In a recently published article video interview, Lynette Zang, Chief Market Analyst at ITM Trading, sat down with Michelle Makori, Senior Anchor and Editor-in-Chief of Kitco News. Zang discussed how the US dollar and most major fiat currencies are nearing their end.
“People don’t realize that everything has a life cycle,” Zang told Makori. “I am at a different point in my life at 68 than my granddaughter who is about to turn eight. Coins are no different. There are recognizable patterns that we can see along the way,” Zang emphasized. The analyst continued:
But there’s no question in my mind… I mean, first of all, there’s about three cents of the (original) dollar value of purchasing power left… So what happens when you get to zero? You have to go negative, and they take your principal.
Zang also informed the host that the Dodd-Frank legislation transforms depositors into “unsecured creditors.” He stressed that the laws allow financial institutions to easily convert deposits into capital. Instead of “bailouts,” Zang predicts there will be “bailouts,” in which depositors’ savings are used to prevent a bank from collapsing.
“People assume that when they make a deposit, it’s their money,” Zang said. “But it’s not. When you make a deposit, you’re legally lending your money to the bank. In 1995, they passed Regulation D, which made it legal and allowed banks to move their deposits into sub-accounts that are in the bank’s name.”
They then use it as collateral for loans, and frankly, most of the revenue banks generate now is business income, according to the Office of the Comptroller of the Currency. So that allows them to lower their reserves and use their money to play. You don’t even realize it because it’s invisible.
During the interview, Zang predicted that almost everyone will experience a “bailout” due to excessive printing of money causing liquidity problems. The analyst pointed to cracks in the US Treasury market, which is the bedrock of the US economy. According to recent meetings, he asserted that the Federal Deposit Insurance Corporation (FDIC) is aware of the potential for a major problem in the US financial system. “They are laughing at us,” he said. “(They argue) that average retail customers don’t need to understand that there really is no money in the FDIC’s deposit insurance fund, and that they should expect to be bailed out.”
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 disappears, it just changes location, and if one doesn’t own it, someone else does. “You may not have anything,” she Zang said, “but I’m pretty sure you won’t be happy because you’re renting everything,” she added.
What do you think of the warnings raised by Lynette Zang? Share her thoughts in the comments below.
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