Finance expert issues stark prediction of what US bank will fail next following Silicon Valley Bank collapse

  • 15/03/2023

A renowned finance expert has issued a stark prediction of which US bank he thinks will fall next following the collapse of Silicon Valley Bank.

Three US banks failed within five days, the most prominent was Silicon Valley Bank (SVB), the largest bank to fail since the 2008 crisis.

Two days after SVB collapsed, state regulators closed New York-based Signature Bank and last week, crypto-focused bank Silvergate announced it would have to wind down its operations.

And there are warnings of more closures to come.

The man who successfully predicted the Lehman Brothers collapse that sparked the global financial crisis, Robert Kiyosaki, said he is concerned for Credit Suisse, one of the top global investment banks. 

Last month, Credit Suisse reported its biggest annual loss since 2008, axing bonuses for top executives.

Speaking on Fox News' Cavuto: Coast to Coast, Kiyosaki said a "perfect storm" caused by the bond market crash and the upcoming retirement of the baby boomer generation could see the bank go under.

"I think the next bank to go is Credit Suisse, because the bond market is crashing," Kiyosaki said. "The bond market is much bigger than the stock market. The Fed is up and they're the firemen and the arson."

Robert Kiyosaki.
Robert Kiyosaki. Photo credit: Facebook

He said the bond market is the US economy's biggest problem and expects the American dollar to weaken.

Not long after Kiyosaki's prediction, Credit Suisse recently saw its stock drop 15 percent hitting a record-low price level. 

US President Joe Biden has pledged to take whatever action was needed to ensure the safety of the US banking system.