Topic: Nycb

New reports suggest widespread bank insolvency as the Basel III financial accords raise reserve requirements from 0% to 20%. Banks like New York Community Bank (NYCB) have seen their share prices plummet after acquiring toxic assets from other failed institutions. This consolidation is described as a failing attempt to keep the traditional financial system afloat.

The shift toward remote work has triggered a crisis in the commercial real estate sector, with $1.5 trillion in loans facing potential default. New York Community Bancorp (NYCB) is cited as a current example of a bank at risk following a Moody's downgrade. Gerald Celente predicts a major "banking bust" that will be used as a pretext to transition the population from "dirty cash to digital trash" through technocratic control systems.