US Cash Crisis: Withdrawal Limits Spark Bank Run Fear

The entire world has been focused on the economy as the coronavirus outbreak has devastated global markets. While stocks, commodities, and barrels of oil plunge in value, there’s been considerable demand for cold hard cash in certain countries. According to reports, Wall Street’s elite has been trying to withdraw $30-50K per person as they flee the Hamptons. Moreover, various individuals across the U.S. are claiming financial institutions like Chase and Bank of America are restricting cash withdrawal amounts.

Also read: Edward Snowden ‘Felt Like Buying Bitcoin’ While Traders Hunt for the Market Bottom

US Banks Impose Withdrawal Restrictions as Customers Empty Accounts Demanding Hard Cash

Cash is something everyone looks for during times of economic hardship and right now banks are struggling to provide liquidity. During Wednesday morning’s trading sessions, global stock markets and futures continue to lose ground. The price of oil has…