Robert Kiyosaki, the author of the best-selling financial self-help book Rich Dad Poor Dad warned that the U.S. banking crash has started. He wrote on X that many more banks in America could close down similar to the 2022-23 cycle. The Silicon Valley Bank, Signature Bank, and First Republic Bank, among others, were closed last year.
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Kiyosaki rang the warning bells indicating that another U.S. banking crash was on the cards that could affect the stock market. Even financial analysts like Jim Rickards, Jim Rogers, and Ray Dalio, have been echoing the same sentiments. However, Kiyosaki has gone one step ahead saying that the next crash could make the banking system weak and traders need to look at different options.
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Invest in Silver Before the U.S. Banking Crash: Analyst
The author explained that traders could take an entry position in the commodity markets before the U.S. banking crash. He revealed that accumulating silver now could prove beneficial as it is available at a discounted rate. The XAG/USD index, which tracks the performance of silver shows the asset trading at the $31 mark on Monday. It is down nearly 50% from its all-time high of $45 and is attracting bearish sentiments.
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Kiyosaki explained that silver’s downturn is the perfect time to accumulate the commodity. When the U.S. banking crash begins, commodities like gold and silver could rally, he predicted. The analyst also forecasted that Bitcoin could soar to new highs when the stock market collapses.
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“The (U.S.) banking crash Jim Rickards, Jim Rogers, and Ray Dalio, and I have been warning you about has started. Even if you have very little money you may still be able to profit from this crash. All you need is a few extra dollars. Because you can still afford to buy a few real silver coins before silver doubles and triples. One definition of a loser is someone who knows what to do. But doesn’t do it. Silver is still just $30 which is about 50% below its all-time high. Please start playing the money game of life like the winner,” he said.