Investors worldwide were shaken by the recent collapse of Silicon Valley Bank on Friday, March 10. Many are now seeking safe havens to protect their hard-earned money. The situation has prompted financial guru Robert Kiyosaki, writer of the Best-Selling book “Rich Dad Poor Dad,” to issue a warning that the collapse will soon spread to Credit Suisse, a Swedish bank.
In an exclusive interview with Fox Business, Kiyosaki advised investors to consider better investment options, as the bond market is crashing. He suggested that gold, silver, copper, and bitcoin are currently the safest places to park your money. These precious metals will always be in demand, unlike currency, which can be affected by the federal government’s decision to print more money. Moreover, the limited supply of these precious metals makes them even more valuable, especially as more people seek to own them.
BAIL OUTS begin. More fake money to invade sick economy. Still recommend same response. Buy more G, S, BC. Take care. Crash landing ahead.
— Robert Kiyosaki (@theRealKiyosaki) March 13, 2023
According to Kiyosaki, silver is the best precious metal to invest in because it is used in various industries, such as electronics and solar panels. Moreover, 30 pounds of silver is inside every Tomahawk missile, and whenever one is fired, more silver is lost, increasing the scarcity of the precious metal in the world.
Kiyosaki also predicted that Credit Suisse could be the next bank to collapse. The bank heavily relies on bonds, which is the major reason for its impending downfall. Additionally, Credit Suisse has faced several issues, including a conviction by Switzerland’s Federal Criminal Court in the summer of 2022 for allowing money laundering.
By Wednesday, March 15, Credit Suisse’s shares had plummeted by 30%. A source close to the bank revealed that European Central Bank officials are investigating if other lenders have any weaknesses that could be exposed if Credit Suisse collapses. Despite the chaos in the bond and banking markets, Credit Suisse’s CEO, Ulrich Koerner, reassured customers that the business is strong and safe.