If the US government can actually do this, then there is really no better option than moving all your funds out of the banking sector. You never really know what will happen or when it might happen. The Fed seems not to even need any reason to do anything at all; whatever they feel is right and looks like a trait to them, they look for their possible means to bring a stop to it.
If you can't convert your Bitcoin and other crypto to your local currency, 1 BTC will still be 1 BTC, but the use case will reduce, and not everyone will want to accept something they can't convert to their local currency as a means of payment. Even buying stocks and investing in real estate won't be a real alternative since you can't exchange stocks or a landed property for food.
This is not the first time Hugh Hendry would be wrong and not the last, in 2012 he was really bearish against China and look how that played out. Dailyhodl and some other crypto sites have an agenda against banking sector so of course they are listening anything bearish about us banking sector and looking at OP post history, he has agenda against United States and civilization itself.If you can't convert your Bitcoin and other crypto to your local currency, 1 BTC will still be 1 BTC, but the use case will reduce, and not everyone will want to accept something they can't convert to their local currency as a means of payment. Even buying stocks and investing in real estate won't be a real alternative since you can't exchange stocks or a landed property for food.
But if you really don't trust small- to mid-size US banks enough to keep your money in there i don't blame you as Trump safeguard regulations from keeping this from happening. Banks need more effective regulations, not less. And funny thing that these crypto magazines that hate banking secotr forget to tell you that those failed banks had significant exposure to cryptocurrencies.
But if you distrust the whole banking sector, i am not sure why would you keep trust on dollar itself either and not just keep everything in gold and bitcoin/altcoins instead.
