Wall Street expert Robert Kiyosaki has warned that the US is heading towards a significant risk of a catastrophic collapse due to the bond market, which he considers the economy’s “biggest problem”. Recently, Kiyosaki voiced his opinion that the global economy is on the brink of failure, predicting bank queues, frozen savings accounts, and bail-ins.[0] Back in January, he cautioned that the world was heading towards a recession, predicting a rise in bankruptcies, joblessness, and homelessness.[1]
Kiyosaki holds up a dollar bill and explains how the U.S. dollar is losing its hegemony in the world right now.[2] He believes that the Fed and the FDIC will print more of this, trying to keep the dollar from sinking.[3] His warning coincides with ongoing speculation about the future of Credit Suisse, an investment bank with a focus on cryptocurrencies.[4]
Kiyosaki has also predicted a third bank collapse, following the closure of Silicon Valley Bank and New York-based Signature Bank.[3] He believes his prediction about a potential third bank collapse aligns with his 2008 forecast regarding the Lehman Brothers’ collapse.[5]
Monday saw Credit Suisse’s stock prices plunge by nearly 10%, while the cost of its debt default insurance skyrocketing.[6] UBS’s shares dropped by 7 percent as well.[7]
According to Kiyosaki, the bond market – the economy’s “biggest problem” – will cause the U.S. to face “serious trouble” as he anticipates the American dollar to become weaker. He also made the prediction just hours before Credit Suisse admitted to a “material weakness” in its reporting procedures for the 2021 and 2022 fiscal years.[2]
Kiyosaki recommends buying real gold and silver coins instead of Exchange Traded Funds (ETFs) as he believes that when the third bank goes, gold and silver will “rocket up.” He also highlights the benefits of cryptocurrencies as alternatives to traditional banking systems, saying that they provide a more stable and secure option because they operate in a decentralized manner.[0]
0. “Financial Expert Robert Kiyosaki Warns of Possible Banking System Failure and Touts Cryptocurrencies as an Alternative” EconomyWatch.com, 16 Mar. 2023, https://www.economywatch.com/news/financial-expert-robert-kiyosaki-warns-of-possible-banking-system-failure-and-touts-cryptocurrencies-as-an-alternative
1. “Rich Dad Poor Dad Author Robert Kiyosaki Warns Another Bank Is Set to Crash – Featured Bitcoin News” Bitcoin News, 12 Mar. 2023, https://news.bitcoin.com/rich-dad-poor-dad-author-robert-kiyosaki-warns-another-bank-is-set-to-crash/
2. “Wall Street expert predicts next major bank to fold” The Independent, 14 Mar. 2023, https://www.independent.co.uk/news/business/silicon-valley-bank-collapse-credit-suisse-b2300393.html
3. “Investor who anticipated Lehman collapse predicts next bank failure | Mint” Mint, 15 Mar. 2023, https://www.livemint.com/news/world/svb-fallout-investor-who-predicted-lehman-collapse-predicts-next-bank-failure-11678874695601.html
4. “Potential US Bank Collapse After Silicon Valley & Silvergate: Kiyosaki By CoinEdition” Investing.com, 13 Mar. 2023, https://www.investing.com/news/cryptocurrency-news/potential-us-bank-collapse-after-silicon-valley–silvergate-kiyosaki-3028480
5. “Financial analyst predicts next bank to fold” The Drinks Business, 15 Mar. 2023, https://www.thedrinksbusiness.com/2023/03/financial-analyst-predicts-next-bank-to-fold/
6. “Credit Suisse shares soar after the bank secures a $54 billion lifeline” NPR, 16 Mar. 2023, https://www.npr.org/2023/03/16/1163837728/credit-suisse-banking-stock-markets
7. “Wall Street expert who forecast 2008 Lehman crash predicts next bank to go under” Express, 14 Mar. 2023, https://www.express.co.uk/news/us/1746071/wall-street-expert-2008-lehman-crash-svb-dxus