Credit Suisse may be the next bank to fold, a financial expert has claimed
Revelations 18:9-11 “The kings of the earth who committed fornication and lived luxuriously with her will weep and lament for her, when they see the smoke of her burning, 10 standing at a distance for fear of her torment, saying, ‘Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.’ 11 “And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore
Important Takeaways:
- Credit Suisse shares fall to all-time low as bank announces it has found ‘material weakness’ – just hours after Wall Street expert predicted that it would be the next to fall after SVB
- Credit Suisse shares fell five percent to an all-time low in early trading on Tuesday after the bank confirmed material weaknesses and an $8billion loss in 2022, just hours after a financial expert claimed it would be the next institution to fall following SVB.
- Last night, Robert Kiyosaki – a metals investor and author of Rich Dad, Poor Dad who accurately predicted the 2008 fall of Lehman Brothers – warned during an appearance on Fox Business, that ‘the problem’ is the bond market, and that Credit Suisse – the eighth largest investment bank in the world- was most vulnerable.
- ‘My prediction, I called Lehman Brothers years ago, and I think the next bank to go is Credit Suisse because the bond market is crashing. The bond market is much bigger than the stock market. The Fed is up and they’re the firemen and the arson,’ he said.
- On Tuesday morning, Credit Suisse published its annual report which revealed an $8billion loss for 2022.
- Today, Credit Suisse said the ‘weaknesses’ were down to a ‘failure to design and maintain an effective risk assessment process to identify and analyze the risk of material misstatements’.
- Kiyosaki… said the current situation is the ‘perfect storm’, with an entire generation of boomers looking to retire.
- He is also concerned about Biden’s plan to ‘print more fake money’ and inject it into the ‘sick economy’
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