has commented on the news of the US banking sector “entering a new dark age.” He believes that this may be happening in accordance to what Satoshi Nakamoto may have predicted when building Bitcoin 16 years ago.A piece commented on by Max Keiser was published by Zerohedge and it speaks about a future banking crisis expected by Billionaire Barry Sternlicht CEO of Starwood Capital Group soon.
Sternlicht said he expects US regional and community banks to begin to fail one or two each week. There are over 4,000 of those banks around the US.The main reason for this, according to Sternlicht is that the Fed Reserve has been raising the interest rates and now it would not start cutting them down – that was announced during the recent FOMC meeting. Therefore, among those who will “get whacked” will be the real estate sector and local banks working with it.
Overall, experts believe that currently the US Fed Reserve is stuck between allowing a banking crisis and permitting inflation to grow stronger and out of control . Therefore, high rates will keep inflation more or less tamed while crucial sectors of the economy which have a strong dependency on loans are unable to survive in a higher-rate environment, even if they seem strong enough for that at the first glance.
Earlier this week, Keiser shared several screenshots of tweets published by Bitcoiner and author of the “Rich Dad Poor Dad” book. Robert has been frequently tweeting that he expects the US economy to crash soon along with the “fake” US dollar. Kiyosaki advocated investing in Bitcoin, as well as physical gold and silver, predicting that the prices of these assets are going to skyrocket in the near future. In particular, Kiyosaki tweeted this year that he expects BTC to hit $100,000 by September.Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects.
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