Burry on the banking crisis; Kiyosaki warns of ‘fake money’ injections; Speaking of “Anti-Crypto” Agenda Behind Signature Bank Collapse – Weekly Recap – The Weekly
Speculation and debate surrounding the current global banking debacle rage on. Hedge fund manager Michael Burry – known for predicting the 2008 economic crisis – is drawing comparisons to the 1907 panic, while Rich Dad Poor Dad author Robert Kiyosaki warned this week that more “fake money” was pouring into the US Economy is injected. In related news, Barney Frank, former member of the U.S. House of Representatives and board member of Signature Bank, said he suspects regulators wanted to send an “anti-crypto message” regarding the bank’s recent collapse. All this and more can be found below in the latest Bitcoin.com News Week in Review.
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Michael Burry compares the current banking turmoil to the panic of 1907 – highlighting the markets bottoming out
Michael Burry, a hedge fund manager known for his forecast known from the 2008 financial crisis has drawn parallels between the current banking turmoil and the 1907 panic. He noted that three weeks after JP Morgan took position, the panic had subsided and markets bottomed out. “Last weekend, a position was taken,” emphasized the famous investor.
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Robert Kiyosaki Warns of Imminent ‘Crash Landing’ When Bailouts Begin – Advises Buying More Bitcoin
Famed bestselling author Rich Dad Poor Dad Robert Kiyosaki has reiterated his recommendation for Bitcoin, Gold, and Silver. Kiyosaki stressed that government bailouts began after the collapse of Silicon Valley Bank and Signature Bank, warning that the Fed will pump more “fake money” into the “sick economy.”
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On the verge of a new trend: Credit Suisse receives 50 billion Swiss francs rescue package from the Swiss National Bank
Credit Suisse has lost confidence in the financial institution’s health after the value of its shares fell sharply this week. Credit Suisse shares are down 24.34% against the US dollar over the past five days, eroding confidence amid fears over the global banking system. Around 9 p.m. ET on Wednesday, Credit Suisse announced it was boosting its liquidity by borrowing 50 billion Swiss francs ($54 billion) from the Swiss National Bank (SNB). As concerns about the global banking system continue to spread, bailout plans are beginning to emerge in the US and abroad.
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Barney Frank, the bank’s board member and Dodd-Frank’s co-sponsor, suspects an “anti-crypto” message behind the signature bank’s failure
Barney Frank, a former member of the US House of Representatives from Massachusetts and a leading co-sponsor of the Dodd-Frank Act of 2010, offered his take on Signature Bank’s recent failure. In an interview, Frank stated that he believes regulators aim to “send a very strong anti-crypto message.” Frank, who also serves as a board member of Signature, said he was surprised by the financial institution’s demise.
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What do you think? Are banking dominoes now becoming part of an elaborate anti-crypto agenda? Let us know in the comment section below.
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Source: Crypto News Deutsch
