In the aftermath of the Silicon Valley Bank collapse, finance expert Robert Kiyosaki cautioned the central bank of a global powerhouse may be the next to belly up.
“The biggest bank that’s going to go down is Bank of Japan,” Kiyosaki explained. “Because the Bank of Japan carried the interest rates at, what, zero or whatever they did, [and] financed the derivatives markets. And the derivatives market, as Warren Buffett said about derivatives, they’re weapons of mass financial destruction and the derivatives market in the world today, financed by the Bank of Japan, is a quadrillion [dollars].”
The “Rich Dad, Poor Dad” author’s comments come amid what some have optimistically labeled a market rally after stocks recorded another strong day and markets looked positive in March.