The western elite have had a very very magnificent ability to keep the ball up in the air through all sorts of gimmicks and tricks, accounting tricks, injections of money, uh lying about the measurements of inflation and employment and and on and on and on, right? And but at some point, mother nature says, "Well, you know what? Your time is up." And at one of these moments when we least expect it, you will see a problem with a major bank. The systemic nature of it, we could we could look at the


problems at the LBMA as an example. All we keep doing is focusing on the LBMA and what happens if there is a silver failure to deliver by one of these massive banks. These are all commercial banks. Well, if a bank fails in silver, fails to deliver. The systemic reaction um the contagion would spiral through everything because they're not just bullion banks. their banks that have their fingers in all of the other financial pies. For months, some market participants have been quietly warning that the


structural resilience of the US banking system is far more fragile than headline numbers suggest. In today's video, renowned bullion dealer Andy Shechman lays out two interconnected stress points that, in his view, demand immediate attention. A commercial real estate cycle burdened by non-performing loans and a physical silver market under extraordinary strain. Andy frames these not as isolated problems, but as linked pressure points where losses in loan portfolios, funding stress in short-term


markets, and shortages of physical silver can combine to turn a regional issue into a systemic crisis. He explains that the banking system now relies heavily on quick liquidity mechanisms and collateralized funding to remain operational. When banks start substituting lower quality collateral for highquality treasuries in repo and similar funding markets, it's not just accounting noise. It's a visible sign that cash is scarce and options are narrowing. The institutional plumbing that once absorbed shocks can now


transmit contagion when collateral quality deteriorates. That's the danger Andy warns about. Stress can spread from commercial loan books to interbank funding and then outward into corporate and household finance. At the same time, Andy draws attention to the peculiar dynamics unfolding in the precious metals complex, especially silver. In markets where delivery matters and physical inventory is limited, demand for real metal can outstrip forward supply, causing backwardation, spiking lease and


borrow rates and tensions between over-the-counter warehouses and exchange inventories. The goal isn't to sensationalize price moves, but to show how a delivery failure or concentrated short squeeze in silver could amplify financial stress on institutions already entangled in credit repo and derivatives exposure. Taken together, Andy's concerns point to a sobering reality. The resilience of the US financial system is being tested on multiple fronts at once. credit quality in property and consumer loans, funding


liquidity in repo and money markets, and the stability of markets tied to physical metal delivery. Andy isn't calling for panic. He's calling for rigorous attention and prudent positioning. Over the coming minutes, we'll unpack these mechanics, explain why they matter for asset allocation, and explore how traditional portfolio anchors may behave as these financial stresses continue to intensify. Listen closely to his explanation of collateral substitution in funding markets, how banks are quietly swapping


lower quality assets in place of treasuries to keep liquidity flowing. Pay attention to his take on the fragility of regional bank funding and how stress in those smaller institutions can ripple through the entire financial system. And finally, note his practical breakdown of how Silver's delivery squeeze could become a true market catalyst, not just a sideeshow, triggering pressure that spills over into the broader economy. >> But what I will say is that we've settled for a long time, Dunigan, that


the banking issue is not over and it's been muted. Yes, for sure. But what this is in essence is a bunch of commercial real estate and residential real estate loans are going bad. Auto loans, they're all going bad. People aren't paying. They're they're running late. They're delinquent. No one's in office buildings. I was at my attorney's office in Minneapolis last week. They have three floors of an office building. Felt like I was in a morg, literally. And they they re-uped it like right at the


be right before the pandemic hit. They reuped a 10-year lease. I mean, in downtown Minneapolis, Mata must I mean, you could have 10,000 people in these on these three floors, literally, and there's no one there. It's crazy. But this is the kind of problem, not my attorney's office, but many like it where they're they're delinquent. They're they're not paying. They're going into forfeite. And so, you have a bunch of these loans that are going bad, which makes the banks run low on cash.


They're not getting their payments. So to stay afloat, they go and they hit the repo market where this is where banks trade assets, typically US treasuries, for quick overnight loans from the Fed. I'll give you my my treasuries, you give me some money, and then I'll buy back the treasury the next day or next week or whatever. It's overnight. It's next day. Some are longer than overnight, but that's why it's called repo. Means repurchase. Here's my treasury. Give me


some money so I can pay my debt. I'll give you back the treasury or I'll buy back the treasury the next day. Great. The scary part about all of this is that now these banks are pawning off their risky mortgage back securities instead of the safe treasuries. That is the sign of stress. That is what should be disconcerting. This is why the Fed injected almost $9 billion and opened up a $490 plus billion emergency facility. Sh. Don't tell anyone. No one knows about it's a half a trillion dollars.


And you don't do that unless something is beginning to fracture underneath the seams. And and this is what we said would happen. And and you know that's the part you know that's why I'm so fond of the little by little the logarithmic decay because the little by little these things that have been breaking little by little under the seams. Instant gratification even in information and in thought process isn't quick enough for most people in this country. They they aren't able to understand that these


things take time. At this level it is a ocean liner trying to turn. These are very big deals and they're not getting fixed organically. A and the problems with commercial real estate are only going to get worse as are the problems with residential real estate. The only way the residential real estate problem gets better is are for prices to go down a and or for interest rates to go higher, not lower. That's what got us in this problem to begin with. Well, the commercial real estate is a whole


another animal alto together. You know, you got all of these companies that realize, well, we're just as productive working away from the office as we are in the office. So, why spend all the money? And it's it's creating a real problem. The banks are not out of the weeds yet. And when you see the the Fed coming in quietly doing this without, again, our media just is pathetic. our media, guys like John Rabbino, God bless them, guys like you, all the people who are telling the truth and getting the


real information out. These are the ones that were were shadowbanned during the previous administration for misinformation that turned out to be true. But here again, where is the journalistic integrity? Where are the news media outlets talking about what is exactly happening? And what it means is the banks are in trouble. And not only that, no one wants to leave their money in the bank. They'd rather move it to treasuries, which short-term treasuries with disintermediating the bank or even


into money markets away from the regional banks and into the bigger banks. The problems are not done yet. And this is a good sign of it. When they are trading their mortgage back securities instead of their treasuries, they're in need for cash and cash quick and they're in trouble. It's kind of like uh you're pawning off your wedding ring at this point and hopefully you'll lend it to the pawn shop. hopefully you'll buy it back because your your other assets are already gone. And uh I


it's a very scary sign to be honest with you. You know, Donigan, sometimes you'll get the comments in the YouTube sections. They'll say things like, "Well, they've been saying this for years." That's our curse. We're early and we see things based upon mathematics, logic, and economics. That's mother nature in essence. That's the law of mathematics, the law of economics. Some of these things are not really law, but math you can't run from. And and these things always manifest


themselves somehow someway, usually way later than we ever think. But these are the things that we have been saying for a long time. And guys like Alistister who have been saying and the the Western elite have had a very very magnificent ability to keep the ball up in the air through all sorts of gimmicks and tricks, accounting tricks, injections of money, uh lying about the measurements of inflation and employment and and on and on and on, right? And but at some point, mother nature says, "Well, you


know what? Your time is up." And at one of these moments when we least expect it, you will see a problem with a major bank. All we keep doing is focusing on the LBMA. And what happens if there is a silver failure to deliver by one of these massive banks? These are all commercial banks. Well, if a bank fails in silver, fails to deliver, the systemic reaction, the contagion would spiral through everything because they're not just bullion banks. their banks that have their fingers in all of


the other financial pies. If you're new here, don't forget to like, subscribe, and hit the bell icon so you never miss insights like these.