Topic: Toxic Assets

The Basel III financial accords are cited as a factor that could force many regional banks out of business due to increased reserve requirements. Dr. Kirk Elliott explains how the consolidation of "toxic" banks by giants like JPMorgan Chase actually spreads instability throughout the financial system. He warns that the ultimate goal is a total collapse that allows for the introduction of a centralized, state-controlled digital economy.

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.

Dr. Kirk Elliott reports that delinquency rates for small banks have reached a record 7.8%. He analyzes the collapse of New York Community Bank, which he attributes to the "contagion" of buying toxic assets from Signature Bank. He warns that as people pull money out of banks to survive inflation, the lack of deposits and the end of emergency Fed funding will lead to more failures.

The conversation compares Bitcoin's potential valuation to the stability of gold. Dr. Elliott argues that the globalists want a banking failure to usher in a new system involving ESG scores and central bank digital currencies. He cites the failure of New York Community Bank and the "toxic assets" it inherited as a sign of systemic instability.