[Music] hey gold silver I want to give you guys a quick update on the banking crisis that is unfolding in front of us in real time as you know New York Community Bank is experiencing massive losses and it stock price is taking a huge hit and developments are unfolding pretty much faster than we can make videos to update you guys so what we've done is create a dedicated website a custom URL that will track all the latest developments whether they're videos articles tweets whatever happens so I want to give you a


quick walkthrough of what that looks like that way you can stay on top of everything yourselves if you go to goldsilver.com and you're on the homepage this URL right here markets on edge continuing coverage of regional banking crisis if you just click on this it will open up to a dedicated URL that serves essentially as a Newsfeed and this URL will be the first link in the description below this video I recommend you check it out and bookmark it come back frequently we'll update it whenever


we have something new as you can see it was updated just a couple hours ago with a nice article here and a tweet prior to that uh less than two hours before that we have something else and before that just a few minutes before that so this is going to be an ongoing Newsfeed where you can check out everything as it happens for example Jerome Paul was asked about the commercial real EST State sector he calls it a manageable problem however this reminds me of the 2008 Global financial crisis when the Federal


Reserve chairman said that subprime is contained turns out it was not so could this be uh a recurring theme stay tuned stay tuned definitely check out this Euro uh if you aren't sure uh what's going on with New York Community Bank basically they have over $84 billion in loans and many of them are going bad a lot of them are are in the real estate sector that has rent control so that's favorable for the tenants but of course that means that it's bad for the bank they're simply not going to get paid or


they won't get paid as much that means losses and those losses translate into a plummeting stock price and if they're not able to maintain positive cash flow well the bank fails so we'll see how this unfolds um you know reminds us of what happened last year with silicon valy Bank Signature Bank so yeah so if you guys want to stay on top of it definitely go to this URL as we have more substantial pieces of news Mike and I will create long form videos and bring those to you but in the


meantime if you want to know what's happening go to this URL and check it out so thanks guys stay safe out there