- Robert Kiyosaki warns of the possibility of a third bank collapse, which could benefit precious metals.
- Kiyosaki’s forecast is in line with his 2008 prediction of the collapse of Lehman Brothers.
- Speculation lingers about Credit Suisse’s future amid SEC recalls of stocks at an all-time low.
The collapse of Silicon Valley Bank and Silvergate Bank within 48 hours shook the US financial system amid economic uncertainty. It’s expected to get worse, as a third lender could potentially suffer the same fate, according to Robert Kiyosaki, author of “Rich Dad Poor Dad.” Kiyosaki tweeted on March 10 that this situation would benefit precious metals.
Two major banks have crashed. #3 About to kick off. Buy real gold and silver coins now. No ETFs. When the price of Bank No. 3 in gold and silver rises. 2008 I predicted the collapse of Lehman, days before it collapsed on CNN. If you want proof, go to RICH DAD .com. It will be on FOX’s Neil Cavuto on Mondays.
— Robert Kiyosaki (@theRealKiyosaki) March 10, 2023
Kiyosaki believes that his prediction about the possible collapse of a third bank is consistent with his 2008 prediction of the collapse of Lehman Brothers. The failure of Lehman Brothers was a defining moment that deepened the 2008 financial crisis.
Kiyosaki previously predicted a global economic collapse and suggested that bank flows would accelerate during the crisis. His warning of the possible collapse of a third bank coincides with ongoing speculation about the future of Credit Suisse, another cryptocurrency-focused investment bank.
Credit Suisse’s future is uncertain because the bank is postponing its annual report after the Securities Commission (SEC) call regarding cash flow data for 2019 and 2020. Shares hit an all-time low on March 10, 2023.
Additionally, in October 2022, real estate investor Graham Stefan said that Credit Suisse could be at a tipping point, with default swaps (CDS) reaching the highest level since 2008. Economist and crypto-skeptic Peter Schiff warns that the banking system The US is on the cusp of a bigger crash than the 2008 crisis, and mass withdrawals could lead to bank failures.
Meanwhile, the collapse of Silvergate Bank, which mainly caters to cryptocurrency entities, has caused concerns in the banking space. The bank attributed its decision to recent industry and regulatory developments. The crash led to the collapse of the cryptocurrency market, which led to a huge capital outflow and a drop in (BTC) prices.
A Silicon Valley bank’s exposure to crypto and technology startups was also closed and taken over by regulators. The shutdown affected the cryptocurrency market, with Circle revealing that some of its reserves were being held in SBV, causing the USDC stablecoin to correct from $0.91.
Possible collapse of the US Bank after the possible collapse of the US Bank after Silicon Valley and Silvergate: Kiyosaki makes his coin issuance debut.