Bank of #Japan raises maximum amount of #bond purchases for next quarter t.co/ezHtR92GbW
— GoldBroker (@Goldbroker_com) March 31, 2023
via Foxnews:
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.
Kiyosaki, however, challenged the idea of a comeback, noting issues with the derivative markets. He also warned the Bank of Japan’s heavy connection to derivative markets put it in a more vulnerable position and threaten greater effects on the global economy.