The collapse of Silicon Valley Bank And signature bank has raised concerns about other regional banks that may be in the same situation. Despite reassurances and positive action from the central bank and government, contagion fears persist.

Author of Rich Dad, Poor Dad. Robert Kiyosaki recently intervened with his thoughts on the banking crisis.

What happened: The Bank of Japan could be the next downfall, Kiyosaki called in an interview with Fox News this week.
“The biggest bank that will go under is the Bank of Japan,” he said, explaining that the country’s central bank kept interest rates at zero and funded derivatives markets.

He also referred to a billionaire investor Warren Buffett view of the derivatives market and claims they are “weapons of financial mass destruction”.

Kiyosaki added: “[the] The world derivatives market funded by the Bank of Japan is now at one quadrillion [dollars.]”

“So we didn’t see the crash coming,” he said

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The millionaire entrepreneur also struck Federal Reserve for relentlessly raising interest rates. “[Jerome] Powell has hiked rates faster than at any time in history. So someone says, “Well, he’s playing [Former Fed Chair Paul] Volcker.’ Well, Volcker has been raising interest rates for years. Powell does this for months,” he said in the interview.

China comes after the US: The unwelcome offshoot of the bank collapse is giving China an opportunity to assert global dominance, Kiyosaki said.

He also raised the specter of the BRICS – an acronym used to refer to the alliance of Brazil, Russia, India, China and South Africa – which is shifting its foreign exchange reserves to the Chinese gold yuan.

“That will send trillions of [U.S. dollars] back to us,” he said

Continue reading: Rich Dad, Poor Dad author has a chilling bank prediction: “I called Lehman Brothers years ago and I think the next bank to go is…”

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