A Closer Look at the Banking Crisis: Burry, Kiyosaki Warn of ‘Fake Money’ Injections, Suggest ‘Anti-Crypto’ Agenda Behind Signature Bank Collapse

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People are still discussing about the global bank troubles. Michael Burry—a hedge fund manager who can predict economic happenings like in 2008—thinks something similar will occur like it happened back then in 1907. Robert Kiyosaki, author of “Rich Dad Poor Dad”, shared his opinion that more false money is going to enter the US economy. In addition, Barney Frank (a former House of Representatives and Signature Bank board representative) believes authorities have a bad opinion about cryptocurrency and thus might be the cause behind this bank’s failure. This recap was part of CryptokenTop News Week in Review.

Michael Burry Sees Parallels

Michael Burry, a famous hedge fund manager who accurately predicted the 2008 financial crisis, sees similarities between this current banking chaos and the Panic of 1907. He observes that after J.P. Morgan took action 3 weeks later, everything was resolved and stocks dropped to their lowest point. “Something was done over the weekend,” he shared.

Robert Kiyosaki’s Advice

Robert Kiyosaki, the author who wrote the popular book Rich Dad Poor Dad, has recently suggested that people should invest in bitcoin, gold and silver. He mentioned that these investments are important because a lot of money is being sent out by governments – known as ‘bailouts’ – to Silicon Valley Bank and Signature Bank. According to Kiyosaki, this means there will be more fake money put into our economy.

Thirteen and Growing

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Credit Suisse, a financial institution, has had its trust levels decrease drastically this week due to its shares decreasing in value. Over the past five days, Credit Suisse’s stock has gone down by 24.34%, which many people think is serious and threatening to the global banking system. In order to fight off this issue, Credit Suisse said they were going to borrow $54 billion from the Swiss National Bank (SNB). As worries regarding global banking keep growing bigger, help measures have emerged both in America and other countries around the world.

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Barney Frank’s Take on Signature Bank’s Collapse and the War on Cryptocurrency

Barney Frank, a former member of the US House of Representatives and big supporter of the 2010 Dodd-Frank Act, shared his views on the recent collapse of Signature Bank. In an interview, Mr. Frank said he believes regulators wanted to show they aren’t fans of crypto currencies. Since Barney Frank is on the Signature Bank’s board, he was taken aback by its failure.

What do you think? Is the banking system against cryptocurrency now? Please share your thoughts with us in the comment section below.

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