Analyst Warns of Banks' Authority to Confiscate Funds, Decline of US Dollar Purchasing Power
, Lynette Zang, the chief market analyst at ITM Trading, sat down with Michelle Makori, lead anchor and editor-in-chief at Kitco News. Zang discussed how the U.S. dollar and most major fiat currencies are near their end. But there’s not a doubt in my mind … I mean, first of all, there’s roughly three cents left of the [original] dollar’s worth of purchasing power … So, what happens when you reach zero? You have to go negative, and they take your principal.
“People have the assumption that when they make a deposit, it’s their money,” Zang stated. “But it’s not. When you make a deposit, legally, you’re lending your money to the bank. In 1995, they passed Regulation D, which legalized and allowed banks to move your deposits into sub-accounts that are in the bank’s name.”
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