It's time for everyone to stock up on cash, gold, bitcoin, anything that the Feds cannot hit an off-switch on.
Mr. K, you asked for a friend, what he should do with 150k in a checking account.
I'd suggest cash, precious metals, or bitcoin.
I’m thinking of investing heavily in coal, hammers, tongs, plowshares, and pruning hooks. The exchange rate may turn out to be much better.