Bank Runs Imminent? NYCB Trading Halted, Seeks Emergency $1 Billion In Funding [We Told You!]

I’ve been shouting from the rooftops that the banking crisis of last year was not over…

And I’ve been specifically warning you that New York Community Bank is NOT safe. Not out of the woods. Not even close.

Well, sadly it looks like I was right again, because this just broke:

JUST IN: New York Community Bank $NYCB stock trading halted after crashing 42% today. pic.twitter.com/3mrzm1eVot

— Watcher.Guru (@WatcherGuru) March 6, 2024

Watch this short 5 minute video for more:

It was only 5 short days ago that they were telling you this:

New York Community Bank, $NYCB, just 5 days ago:

"The company has strong liquidity and a solid deposit base."

Reports on New York Community Bank, $NYCB, today:

Looking to raise capital to "restore confidence."

We've seen this before. pic.twitter.com/EhEHVPL5Um

— The Kobeissi Letter (@KobeissiLetter) March 6, 2024

When they tell you peace and security, what they really mean is war and chaos.

It’s always the opposite of whatever they try to tell you.

I could see this one a mile away and I warned you about it right here on March 1:

BREAKING: The “BRICS” Just Doubled Overnight

After trading was halted and the plunge of another 42% down, CNBC reports a new $1 billion of funding has reportedly been secured:

Struggling regional lender New York Community Bancorp
announced a $1 billion capital raise and a leadership shake-up on Wednesday, headlined by former Treasury Secretary Steven Mnuchin, leading to a sharp rebound for its stock.

NYCB has agreed to a deal with several investment firms including Mnuchin’s Liberty Strategic Capital, Hudson Bay Capital and Reverence Capital Partners for more than $1 billion in exchange for equity in the regional bank, according to a press release Wednesday afternoon.

Mnuchin will be one of four new members of the bank’s board of directors as part of the deal. Joseph Otting, former comptroller of the currency, is also joining the board and taking over as CEO.

The stock jumped sharply after the announcement, but trading was highly volatile. Shares were briefly halted, up nearly 30% for the day. They gave back some of those gains when trading resumed and finished the day up more than 7% after several more halts.

Prior to the press release, the stock was down 42%, amid reports from Reuters and The Wall Street Journal that NYCB was exploring a capital raise.

Shares of NYCB fell sharply on Wednesday.
The stock was below $2 per share at its lowest point on Wednesday, the latest negative milestone for a company that began January above $10 per share.

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The cash infusion is the latest development in a turbulent start to the year for NYCB. The bank disclosed in late January that it was dramatically raising the allowance for potential loan losses on its balance sheet, with its exposure to commercial real estate being a potential issue. That was followed shortly by Moody’s Investors Service downgrading the bank’s credit rating to junk status, and NYCB naming former Flagstar bank CEO Alessandro DiNello as executive chairman.

Then last week, NYCB disclosed that it had “identified material weaknesses in the company’s internal controls related to internal loan review” and announced that DiNello was taking over as CEO, for what proved to be a brief tenure. DiNello will stay on as nonexecutive chairman at the bank, according to Wednesday’s press release.

We will see what happens, but so far we’ve reported on this story 100% correctly, often in the face of what the “experts” keep telling you.

Will this new $1 billion save them?

I don’t think it’s enough, but we will see.

Oh, and here’s why this is a HUGE deal:

FACT-CHECK: New York Community Bank (NYCB) Is a Top 30 U.S. Bank!

We’ve been actively reporting on the crash of New York Community Bank, which has plunged roughly 60% over the past week and it looks on track to either be merged, taken over, or outright fail.

Earlier today Moody’s downgraded them to “Junk Status” and you don’t need to be a financial expert to understand that’s not good!

But I wanted to comment on something to put this into what I feel is the right perspective.

I’ve seen some people try to write this off as just one small bank failing and not a big deal. Even as 5 U.S. banks failed last year and now we already have one teetering on the edge in 2024, it’s easy to say it’s no big deal because it’s just some small, regional bank that no one has heard of.

Except….that’s not really true.

NYCB is actually the 29th largest bank in the USA:

When I first heard that it really shocked me.

Here’s more….

Of the five banks that failed it 2023, three were LARGER than New York Community Bank:

Silicon Valley Bank (SVB): SVB was the 16th largest bank in the USA at the time of its failure, with $209 billion in assets. This placed it just outside of the top 15 banks in the country.
Signature Bank: Signature Bank was the 29th largest bank in the USA at the time of its failure, with $110 billion in assets. It was one of the larger banks to fail in 2023, and its failure had a significant impact on the banking sector.
First Republic Bank: First Republic Bank was the 14th largest bank in the USA at the time of its failure, with $229 billion in assets. This placed it in the upper half of the top 30 banks in the country, making its failure particularly noteworthy.
Heartland Tri-State Bank: Heartland Tri-State Bank was not among the top 30 banks in the USA at the time of its failure. However, its failure still contributed to the overall increase in bank failures in 2023.
Bank of the West: Bank of the West was not among the top 30 banks in the USA at the time of its failure. Like Heartland Tri-State Bank, its failure added to the growing number of bank failures in 2023.

So if you think this is just some isolated incident of some small bank that was ran poorly or mismanaged, I would push back on that and say this looks much larger, and much more systemic than that.

And that’s scary.

So….what can YOU do about it?

I’ve been telling you for a while now, and perhaps this is the “sign” you need to finally take action!

First, you need to watch what the big boys are doing and understand it’s smart to ride their coattails.

And what are the big boys doing?

Stockpiling as much Gold as they can get their grubby hands on:

BREAKING: The “BRICS” Just Doubled Overnight

Now, here’s my preferred solution for owning gold….

Why preferred?

A couple reasons….

I’m not a CPA or tax advisor or even an investment advisor of any kind, but the folks I’m about to tell you about are experts at this.

They’re patriots…

They’ll give you personalized, one-on-one attention by phone….

And they’ll show you how you can do this with NO MONEY OUT OF POCKET — all in a retirement account and usually tax free!

How’s that for a win-win-win?

So what can you do?

THIS! 👇

Here’s Why Central Banks Are Buying All the Gold They Can — And What YOU Can Do!

For the last two years, central banks across the globe have been buying up as much gold (and often silver) as they can acquire without raising alarm bells. Now, we see why.

The recent bank runs and ongoing collapse of the U.S. banking system was anticipated by the “elites” and the central bankers who run things behind the scenes. They saw it coming and knew the best way to protect their assets was through physical precious metals.

If you’ve been waiting for me to bring you a solution about what YOU can do to protect yourself and you’re family, I’m happy to introduce you to something I absolutely love!

Precious metals.

I just talked about precious metals this week with Bo Polny and now I’m bringing you a solution that you can utilize right away if you’re so inclined…

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Central bankers aren’t slowing down. In fact, nations like China and even U.S. states like Tennessee are quickly but quietly buying up gold to back their own treasuries. When the writing on the wall is this clear, it’s understandable why these governments are moving quickly to get ahead of any potential economic catastrophes in store.

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Don’t wait too long, we might have more bank failures right around the corner.

You know what has NEVER “failed”?

Gold. Precious metals. Indestructible.

There’s a reason they call it “God’s money”.

Watch this for more:

Or….I guess you could buy Gold at Costco?

If you can find any?

Oh, and you’ll pay a huge markup and you’ll be limited to two bars.

A “Gold Rush” Hits Costco With Demand For Gold Bars – Here’s One Way To Own Gold if Your Money Is In a Retirement Account

The demand for physical precious metals has been rising since before the pandemic. Central banks have been buying ton after ton for two years. Even some U.S. states — like Tennessee — are filling their coffers with physical precious metals.

Now, Costco is offering gold bars to their members — and some observers are saying there is a “gold rush” on Costco’s gold:

Mike Cernovich reported: “People buying them but bars sold out fast. One disappointed customer had paid but the membership pick-up said it was out.”

Others had no idea Costco sold gold:

Buying gold at Costco is great for those who have extra cash on hand — but what about those of us with money tied up in retirement accounts?

Can we rollover or transfer retirement accounts into physical precious metals and keep it tax-deferred?

Genesis Gold Group says “Yes!”

Genesis Gold Group specializes in self-directed IRAs backed by gold and silver. As a Christian company, they believe this is an appropriate form of financial stewardship that puts Americans’ money on the fiscal high ground.

This isn’t “paper” or “virtual” gold or silver; Genesis Gold Group customers can physically see their precious metals at their convenience. And when it comes time to take a disbursement, they can convert to cash or have their precious metals shipped directly to their homes.

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Oh, and did you know SUPERMAN loves them too?

Yup!

Here is what conservative star Dean Cain (Superman) says about working with Genesis Gold Group:

When Genesis Gold Group was first built, co-founder Jonathan Rose knew two things were necessary in order to thrive in the extremely competitive precious metals industry. First, he knew they wouldn’t repeat the same deceptive marketing tactics “Big Gold” companies use to entice customers. Second, he knew they needed spiritual guidance if they were going to succeed in reaching Americans who want their life’s savings protected from the tumultuous markets.

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Millions of Americans have grown increasingly concerned about the trajectory of our nation. It made sense for Genesis Gold Group to launch by combining over 50-years of experience in gold and silver with proper guidance from faith leaders. This is why Director of Philanthropy David Holland, was one of the first people they hired.

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The challenge, as Rose noted, is that the vast majority of self-directed IRA products being pushed by “Big Gold” are not built with the customers’ best interests in mind.

“The process appears to be the same from one gold company to another but there’s a huge gap between how secular gold companies do business versus how we do it,” Rose said. “We guide our clients to back their retirement accounts with metals that are priced right and have the greatest opportunity for growth. Most gold companies look only at their own margins when filling their customers’ depositories.”

==>Click here to contact Genesis Gold Group today and receive a free Definitive Gold Guide and learn more about protecting your life’s savings from the various threats we’re facing today.

(Note: Thank you for supporting American businesses like the one presenting a sponsored message in this article and working with them through the links in this article which benefit WLTReport. We appreciate your support and the opportunity to tell you about Genesis Gold! The information provided by WLTReport or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.)