Robert Kiyosaki warns 3rd U.S. bank to crash, Peter Schiff says ‘bigger collapse’ ahead
The United States financial system has been rattled by the collapse of Silicon Valley Bank (SBV) and Silvergate Bank within 48 hours as economic uncertainty prevails. Therefore, some financial sector players project that the situation will likely worsen in the coming days.
In particular, Robert Kiyosaki, the author of the best-selling personal finance book “Rich Dad Poor Dad,” has warned that a third lender will likely follow suit. He stressed that the situation would positively impact precious metals in a tweet on March 10.
According to Kiyosaki, his prediction aligns with a 2008 forecast of the collapse of the Lehman Brothers. Notably, the failure deepened the 2008 financial crisis, and the incident was considered a defining moment.
Signature Bank Closure
The federal government Sunday announced the failure of a second bank with deep ties to the tech industry — as regulators rushed to try to stem the losses caused by last week’s collapse of Silicon Valley Bank.
Manhattan-based Signature Bank — a key financial institution for the cryptocurrency industry — was shut down over a “similar systemic risk exception,” according to a joint statement from the heads of the US Treasury, Federal Reserve and Federal Deposit Insurance Corp.
Silicon and Signature depositors will be made whole, but the banks’ shareholders and unsecured debtors will not be protected, officials said.