Hedge fund legend Hugh Hendry just dropped a bombshell on Bloomberg: US capital flight is about to hit a tipping point.

Here's the alarming part—M2 money supply is collapsing at record speed. That's real dollars fleeing checking accounts into money market funds. Hendry warns the Treasury and Fed might soon do the unthinkable: restrict Americans from withdrawing their own money from banks.

Sound far-fetched? He's comparing it to 1934 when the Fed confiscated gold from citizens. "We're at the point where Fed and Treasury officials are considering a gate, a lock on US bank deposits," Hendry stated.

The capital flight isn't just about FDIC insurance limits—it's deeper. Depositors are hunting for yield, and they're leaving the banking system en masse.

Hendry's playbook? Ultra-long Treasuries (trading 2-3 standard deviations below fair value) and Bitcoin. He thinks BTC could trade 3-4x higher over five years—the only asset class he'd make that call on.

When a macro expert of his caliber starts talking about banking restrictions and gold confiscation parallels, it's worth paying attention.