Bank of America, Chase, Wells Fargo, Citibank, U.S. Bank, BB&T, SunTrust, and PNC Bank.
That’s a partial list of banks that could be impacted by a new rule under the Biden administration.
It’s no secret President Biden has been very busy since he took office. He has signed dozens of executive orders so far. But there’s one major move that’s not getting a lot of attention from the mainstream media.
It has to do with the little-known Office of the Comptroller of the Currency (OCC), the agency that regulates all banks in the U.S.
The OCC recently announced a big change to our banking system that could impact millions of Americans.
This is a big change that could impact 234 million Americans who currently have money in a bank account.
Yahoo Finance called it a “landmark decision” that could lead to “major shifts.”
Financial industry expert Seamus Donoghue called it “a complete game-changer.”
And Morgan Stanley economist Chetan Ahya said, “a regime shift is under way.”
Now, Teeka Tiwari, a former vice-president of a major U.S. investment bank, has decided to go on camera to discuss the implications of this move.
Some very high-profile investors are getting out of cash in what seems to be a mad rush for the exit.
And where they’re investing will surprise a lot of people.
Look at billionaire hedge fund manager Paul Tudor Jones, for example. In a letter to his clients, he called money in the bank a “wasting asset.”
Stephen Roach, a former chief economist at Morgan Stanley, has also issued a warning about paper money.
He said: “U.S. living standards are about to be squeezed as never before.”
When asked about it, Billionaire Ray Dalio, the founder of the world’s largest hedge fund, said:
“Cash is trash. We are approaching a limit that will be a paradigm shift.”
If you currently have money in a bank account, I highly recommend taking a few minutes to watch this presentation.
I guarantee it will be worth your time.
