Robert Kiyosaki Warns of Next Banking Giant to Fail
Renowned author and finance expert Robert Kiyosaki, known for his successful prediction of the 2008 Lehman Brothers' collapse, has once again made waves with his latest forecast.
Speaking on Cavuto: Coast to Coast, Kiyosaki warned of a “perfect storm” brewing in the global financial markets, which is set to affect one bank in particular: Credit Suisse.
He has voiced concerns over the bond market, which he sees as highly volatile and at risk of collapsing. The author believes that Credit Suisse, the world’s eighth-largest investment bank, is the next bank at risk of collapse due to the bond market’s current state and baby boomers’ upcoming retirement.
“The problem is the bond market, and my prediction, I called Lehman Brothers years ago, and I think the next bank to go is Credit Suisse because the bond market is crashing. The bond market is much bigger than the stock market. The Fed is up, and they’re the firemen and the arsonist. The US dollar is losing its hegemony in the world right now. So they’re going to print more and more and more of this… trying to keep this thing from sinking.”
This prediction came just hours before Credit Suisse admitted to a “material weakness” in its 2021 and 2022 fiscal year reporting procedures.
The investment bank lost $8 billion in 2022 and is now changing its risk assessment strategies.
This news follows the recent collapses of Silicon Valley Bank (SVB) and Signature Bank in the US, which has left Swiss financial regulator FINMA closely monitoring the situation for potential contagion risks.
Despite this, Credit Suisse CEO Ulrich Koerner has insisted that the collapse of SVB will not affect his bank and that everything has been “calm” since the collapse of the bank.
READ MORE: Signature Bank Probed by US Regulators for Money Laundering Before Collapse
Kiyosaki’s prediction has once again highlighted the potential risks facing the global financial markets. While some experts believe his predictions are sensationalistic, others see them as a warning sign of what is to come.
Regardless of whether or not the author’s predictions come true, it is clear that the global financial markets are in a precarious state, and investors should proceed with caution.
Andrey Kunev
Reporter at CoinsPress
Andrey Kunev is a knowledgeable cryptocurrency content creator passionate about the crypto market. With extensive experience in market analysis and investment reporting, Andrey is a valuable asset to the CoinsPress team. As a frequent contributor, he offers insightful and comprehensive coverage of market trends, price fluctuations, and new advancements in cryptocurrency. Whether you're a seasoned investor or just getting started, Andrey's clear and concise writing offers a comprehensive look at the current state of the crypto market and its prospects. Stay up-to-date with CoinsPress's expert analysis and commentary on all things cryptocurrency.
