‘Robert Kiyosaki Predicts that 2023 Will Have a Bigger Economic Crisis Than in 2008’
(Pixabay photo)
There are still concerns about the safety of USA banks:
Senior Fed official calls for ‘impartial’ review into bank failures
Jun 25, 2023, 07:33 PM
A senior Federal Reserve official has criticized proposals to increase bank capital requirements and called for an “independent and impartial” investigation into the rapid failure of US banks earlier this year.
Fed governor Michelle Bowman said Sunday that a recent report into banking failures put together by the US central bank’s vice chair for supervision, Michael Barr, was “not reviewed by the other members of the Board prior to its publication.”
“There is a genuine question whether these efforts provide a sufficient accounting of what occurred,” she added.
Barr’s report called for greater banking oversight while admitting to the Fed’s own failures in its oversight of the failed California lender Silicon Valley Bank (SVB).
Here are some comments that the Fed posted from Michelle Bowman’s speech in Europe:
June 25, 2023
It is a pleasure to be with you here in Salzburg.1 Bank regulators, particularly in the United States, have come to an inflection point where we are again taking stock of the reforms implemented after the 2008 financial crisis and evaluating whether these reforms have proven to be sufficient. One justification for pushing these reviews forward has been the recent stress in the banking system. …
This year, we have seen the failures of Silicon Valley Bank (SVB), Signature Bank (Signature), and First Republic Bank, and the merger of Credit Suisse into UBS. In the United States, the bank failures of SVB and Signature were accompanied by government intervention in the form of a guarantee on uninsured deposits at these institutions, and the creation of a new, broad-based, emergency liquidity facility designed to calm markets and provide reassurance about the underlying strength of the U.S. banking system. These bank failures also highlighted the need for regulators to consider reform efforts to make the financial system stronger and more resilient. …
In particular, as the United States moves forward with implementing new international capital standards, I am concerned that new capital requirements could unnecessarily hinder bank lending and diminish competition. We need to consider whether examiners have the appropriate tools and support to identify important issues and demand prompt remediation. Increasing capital requirements simply does not get at this underlying concern about the effectiveness of supervision. https://www.federalreserve.gov/newsevents/speech/bowman20230625a.htm
Michelle Bowman is correct that simply increasing “capital requirements” at USA banks will not solve this. But, partially because the so-called “capital” often includes a lot of treasury debt notes (which are not real capital).
That said, there are major banking risks now.
Notice also the following:
Robert Kiyosaki Predicts that 2023 Will Have a Bigger Economic Crisis Than in 2008
The author of “Rich Dad, Poor Dad” Robert Kiyosaki believes that the country’s current series of bank failures are far from over. On June 15, 2023, Kiyosaki tweeted that additional banks were rumored to collapse. The contrarian investor called attention to how lending company loanDepot could be the next victim of a banking collapse, as numerous regional banks across the nation could be on the verge of failing in the next month or so.
“More banks about to fail. Rumor is Mortgage giant Loan Depot is on the ropes,” Kiyosaki stated. “Regional banks and mortgage companies are falling. Please be careful. I would not believe anything Pres Biden, Fed Chairman Powell or Sec Treasury Yellen say. Think for yourself.” 06/23/23 https://bigleaguepolitics.com/robert-kiyosaki-predicts-that-2023-will-have-a-bigger-economic-crisis-than-in-2008/
Yes, there are still risks of bank failures and other economic difficulties.
Back in March, the then Fox host Tucker Carlson warned that the US banking system was not as solid as many in the government asserted.
Also in March 2023, at this COGwriter Church of God News page, I posted the following:
The reality is because of debt, odd instruments like derivatives, government involvement in banks, and political concerns, the inter-connectiveness, and the risk of contagion, the banking system in the West is not one truly solid ground.
Contradictory actions and headlines mean that there are problems and some do not want the public to know the extent of them as that could make the situation much worse. (Thiel B. Contradictory actions and headlines in banking mean what? COGwriter, March 20, 2023)
The USA has many accounting “tricks” that it employs, but one day its debt-loaded financial system will collapse, along with the nation itself being taken over per Habakkuk 2:6-8.
As I have posted numerous times, the late Pastor General of the old Worldwide Church of God, Herbert W. Armstrong, had a view about banking matters leading to European unity. Here is something he said in a sermon on July 7, 1984:
And I can see now, the event that is going to trigger the formation of the reunification in Europe; the resurrection of the medieval Holy Roman Empire that we’ve been looking forward to that is prophesied to come…
But I believe that some event is going to happen suddenly just like out a blue sky that is going to shock the whole world and is going to cause the nations in Europe to realize they must unite! … Well now I think I can see what may be the very event that is going to trigger…that is the economic situation in the world…
The whole banking structure in the United States is a network all jointed together. But not only that, one nation has to deal with other nations and imports and exports. And so they have to have a means of transforming money from one nation to another. And so the banking structure is international and interwoven…
Now when the financial structure breaks down, all civilization is going to break down…
Yes, the USA banking system is tied together and it is at risk and one day will fail.
And yes, an economic or banking crisis consistent with what Herbert W. Armstrong concluded will be involved in getting Europe to further unite.
It will take some type of crisis for Europe to reorganize. Yet, a major reorganization is prophesied to happen and push Europe under totalitarian control:
12 “The ten horns which you saw are ten kings who have received no kingdom as yet, but they receive authority for one hour as kings with the beast. 13 These are of one mind, and they will give their power and authority to the beast. (Revelation 17:12-13)
Problems with the ECB, derivatives, the US dollar, and/or Brexit may all be factors that will get Europe to decide to reorganize and support a dictator that the Bible calls the Beast.
That said, while I do not believe we are yet in the banking crisis that Herbert W. Armstrong was speaking of, we can expect a lot of contradictory headlines and actions when a more severe banking crisis will surface.
Some will claim all is fine, like we have heard from some USA and European officials, when the reality is that all is not even fine now, nor will it be when a more severe economic crisis comes–likely within the next four-five years.
Some items of possibly related interest may include:
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Germany’s Assyrian Roots Throughout History Are the Germanic peoples descended from Asshur of the Bible? Have there been real Christians in Germanic history? What about the “Holy Roman Empire”? There is also a You-Tube video sermon on this titled Germany’s Biblical Origins.
Germany in Biblical and Greco-Roman Catholic Prophecy Does Assyria in the Bible equate to an end time power inhabiting the area of the old Roman Empire? What does prophecy say Germany will do and what does it say will happen to most of the German people?
Greco-Roman Catholic Prophecies: Do They Mirror, Highlight, or Contradict Biblical Prophecies? People of all faiths may be surprised to see what various Roman and Orthodox Catholic prophets have been predicting as many of their predictions will be looked to in the 21st century.
Might German Baron Karl-Theodor zu Guttenberg become the King of the North? Is the former German Defense Minister (who is also the former German Minister for Economics and Technology) one to watch? What do Catholic, Byzantine, and biblical prophecies suggest?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? Here is a link to a video titled: The Future King of the North.
Can You Prove that the Beast to Come is European? The Book of Revelation tells of a beast power that will rise up. Some think that this must be Russia or could be Islamic, while others say that this power is European. The Book of Daniel tells of the rise of an end time King of the North that some think must be referring to a Russian leader, while others say that this power is European. How can you be sure? This YouTube video has all the scriptural proofs that you should need to prove that this power must be a European one.
Might the U.S.A. Be Gone by 2028? Could the USA be gone by the end of 2028 or earlier? There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028? In Spanish: Seran los Estados Unidos Destruidos en el 2028?
The Great Tribulation: What Happens First? What events have happened? What are some events that are now happening? And what events need to happen for the Great Tribulation to start? Here is a link to a related sermon video: Counting Down to the Great Tribulation. Here is a video in the Spanish language: Contando los eventos y el inicio de la Gran Tribulación.
When Will the Great Tribulation Begin? 2023, 2024, or 2025? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? A related video is: Great Tribulation: 2026 or 2027? A shorter video is: Can the Great Tribulation start in 2022 or 2023? Notice also: Can Jesus return in 2023 or 2024? Here is a video in the Spanish language: Es El 2021 el año de La Gran Tribulación o el Grande Reseteo Financiero.
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? What about other peoples? Do you really know what will happen to Europe and the English-speaking peoples? What about Africa, Asia, South America, and the Islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.
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