After “Silicon Valley”… a banking expert predicts the collapse of one of the largest global banks
After “Silicon Valley”… a banking expert predicts the collapse of one of the largest global banks
2023-03-14 08:38
Shafaq News/ The American banking expert, Robert Kiyosaki, predicted, on Tuesday, the collapse of one of the largest and most prestigious global banks, due to the bankruptcy of the US “Silicon Valley” bank.
Kiyosaki said in a statement to the “Fox News” news network, that the next bank candidate for collapse is the Swiss “Credit Suisse”.
The banking expert on Wall Street, New York City’s financial and business avenue, predicted in 2008 the collapse of Lehman Brothers, which led to a severe financial crisis at the time.
After the collapse of the “Silicon Valley” bank, a few days ago, other banking institutions collapsed in the United States, including the “Signature Bank”, and the question became: Who is the next bank that will play the role?
According to Kiyosaki, the matter is related to a problem in the bond market, which is securities like stocks, but differs from it in that the borrower pays interest at periodic times and returns the bond to the creditor at an agreed date.
The bank is investing in the bond market, which has begun to collapse, knowing that the bankrupt “Silicon Valley” bank was among the investors in the bond market.
He added that he was concerned about the fate of the “Credit Suisse” bank, although it is one of the largest banks in the world, and called on people to buy gold and silver to protect the value of their savings.
Hours after this statement, the bank itself admitted in its annual report that it suffers from material weaknesses (the problem is related to risk management).
Shares of Credit Suisse plunged by 5% in financial trading on Tuesday morning, and had witnessed a decline on Monday of 15%.
The Swiss bank, “Credit Suisse”, specializes in international investments and financial services, headquartered in Zurich, Switzerland, and is the seventh largest investment bank in the world.
Yesterday, Monday, the cost of securing the bank’s bonds rose, due to fears of extending the collapse of the “Silicon Valley” bank, and that the bank would suffer financial losses in 2022 estimated at about $ 7.9 billion.
shafaq.com
