The well-known financial analyst Robert Kiyosaki has warned that the next one that could collapse is the central bank of one of the world powers, namely Japan!
“The biggest bank that will fail is the Bank of Japan,” Kiyosaki explained, “and that’s because the Bank of Japan has brought interest rates to zero and financed derivatives markets, and will face serious problems.”
“And the derivatives market, as Warren Buffett said, is a weapon of mass financial destruction, and the derivatives market in the modern world, financed by the Bank of Japan, is a quadrillion dollars,” said Robert Kiyosaki. It should be noted that he also predicted the collapse of Credit Suisse.
The comments from the author of Rich Dad Poor Dad came amid what some optimists describe as a market rally, but Robert Kiyosaki questioned the idea of a comeback, pointing to problems with derivatives markets. He also warned that the BOJ’s close ties to the derivatives markets left it in a more vulnerable position and threatened to have a greater impact on the global economy.
According to Robert Kiyosaki, we have not yet foreseen the coming collapse. In addition to the problem with the derivatives markets, he criticized the habit of printing money along with the aggressive strategy of the Federal Reserve to raise interest rates.
“Since 2008, interest rates have been falling, falling, falling, falling, falling, falling. And suddenly they start to rise. Federal Reserve Chairman Jerome Powell has been raising interest rates faster than at any time in history. Some will say, “Well, he’s playing Volcker. “Well, former Fed chairman Paul Volcker has been raising interest rates for years. Powell has been doing it for months,” Robert Kiyosaki said.
While the US dollar became the world’s reserve currency in the 1940s, China took aggressive steps to compete economically and replace the dollar with the yuan. His growing influence, through efforts such as the Belt and Road Initiative, has only strengthened support for the communist country.
“The problem with Americans is that we live in an aquarium. We cannot see what everyone sees. And right now the BRICS countries – Brazil, Russia, India, China, South Africa and Saudi Arabia – are going to switch to the Chinese yuan, and this will give us back trillions of US dollars,” said Robert Kiyosaki.
Comparing the global economy to a fault line, Robert Kiyosaki warned that these factors are already causing shocks and investors need to be on the lookout.