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- Michael Barry Compares Current Banking Turmoil to Panic of 1907 – Emphasizes Market Bottoming
- Robert Kiyosaki Warns of “Crash Landing Ahead” as Bailout Begins – Recommends Buying More Bitcoin
- New Trend on the Brink. Credit Suisse Receives CHF 50 Billion Bailout from Swiss National Bank
- Barney Frank, bank director and co-sponsor of the Dodd-Frank Act, suspected “anti-crypto” message behind signature bank collapse
There has been much speculation and debate over the global financial crisis, with hedge fund manager Michael Barry, known for predicting the 2008 economic He has compared it to the Panic. And Robert Kiyosaki, author of “Rich Dad, Poor Dad,” warned this week of more “counterfeit money” being injected into the U.S. economy. In related news, former U.S. Congressman and Signature Bank board member Barney Frank said that regulators may have intended to send an “anti-crypto message” regarding the bank’s recent collapse. In addition to this, the latest Bitcoin.com News Week in Review is listed below.
Michael Barry Compares Current Banking Turmoil to Panic of 1907 – Emphasizes Market Bottoming
Michael Barry, a hedge fund manager famous for predicting the 2008 financial crisis, noted the similarities between the current banking turmoil and the panic of 1907, noting that three weeks after J.P. Morgan got back on its feet, the panic was resolved and the market bottomed.” A stand was made this past weekend,” this well-known investor noted.
Robert Kiyosaki Warns of “Crash Landing Ahead” as Bailout Begins – Recommends Buying More Bitcoin
Robert Kiyosaki, the famous author of the best-selling book “Rich Dad, Poor Dad,” is once again recommending bitcoin, gold, and silver. Highlighting the government bailouts following the collapse of Silicon Valley Bank and Signature Bank, Kiyosaki warned that the Fed will inject more “fake money” into the “sick economy.”
New Trend on the Brink. Credit Suisse Receives CHF 50 Billion Bailout from Swiss National Bank
Credit Suisse has seen its share price fall sharply this week as confidence in the health of the financial institution has been eroded. Over the past five days, Credit Suisse’s share price has fallen 24.34% against the US dollar, undermining confidence amid concerns about the global banking system. At around 9 p.m. ET Wednesday, Credit Suisse announced that it would borrow 50 billion Swiss francs ($54 billion) from the Swiss National Bank (SNB) to bolster liquidity. Bailouts are beginning to emerge in the U.S. and abroad as concerns about the global banking system continue to spread.
Barney Frank, bank director and co-sponsor of the Dodd-Frank Act, suspected “anti-crypto” message behind signature bank collapse
Barney Frank, former U.S. Representative from Massachusetts and a key co-sponsor of the 2010 Dodd-Frank Act, offered his opinion on the recent Signature Bank failure In an interview, Frank said that regulators “sent a very strong anti-crypto message. He stated that he believes they aimed to “send a message. “Frank, who also serves on Signature’s board of directors, explained that he was surprised by the financial institution’s collapse, because he believes that “the regulators were trying to send a very strong anti-crypto message.
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