Wall Street analyst Robert Kiyosaki had successfully predicted the 2008 Lehman Brothers’ collapse.
Robert Kiyosaki said he is “concerned” about Credit Suisse.
The collapse of Silicon Valley Bank and Signature Bank in the US sent ripples through the financial markets across the world. Stock markets sank in Asia and faltered in Europe, with banks sliding on contagion fear after the collapse of two lenders. And now, an investor has predicted that another big bank is set to collapse. Wall Street analyst Robert Kiyosaki, best known for his successful prediction of the 2008 Lehman Brothers’ collapse, has claimed that Credit Suisse is the next bank at risk of collapse. “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,” Mr Kiyosaki told Fox News. The Rich Dad Company co-founder explained how the bond market will put the US in “serious trouble” as he expects the American dollar to weaken.
“The bond market is much bigger than the stock market. The Fed is up and they’re the firemen and the arson,” Mr Kiyosaki said on Fox News’ ‘Cavuto: Coast to Coast’ show. “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,” he added. Mr Kiyosaki said he is “concerned” about Credit Suisse – the world’s eighth largest investment bank – due to the “perfect storm” caused by the bond market crash and the upcoming retirement of his generation. He also advised exploring or buying into silver and gold investments during a volatile market. Mr Kiyosaki’s prediction came just hours before Credit Suisse admitted to a “material weakness” in its reporting procedures for the 2021 and 2022 fiscal years. “The material weaknesses that have been identified relate to the failure to design and maintain an effective risk assessment process to identify and analyse the risk of material misstatements in its financial statements,” the report said.
