The US Dollar Index fell 1.1% in Q1. While that may not seem like much, HSBC strategists believe dollar losses will snowball the rest of the year as the economy feels the effects of federal interest rate hikes and falling consumer spending. They’re warning of a recession later in the year. After SVB’s collapse, finance expert Robert Kiyosaki is predicting that the Bank of Japan will be the next to fall. If this comes to fruition, he says China will have another chance to assert global dominance—and the U.S. will suffer the consequences. “This idea of don’t fight the Fed and all that, I think that’s old advice. I would stay with gold and silver,” the “Rich Dad, Poor Dad” author advised. Top economist David Rosenberg also forecasts the gold market to remain well supported in light of the banking crisis, predicting gold to break above $2,000 an ounce.

Business Insider/George Glover
The dollar slipped this quarter after surging in 2022. Its struggles could be a sign of things to come.

The dollar slipped this quarter after notching its biggest annual gain since 2015 last year – and analysts are warning its recent struggles could be a sign of things to come.

The US Dollar Index – which tracks the greenback against six other currencies, including the euro and the Japanese yen – has slipped 1.1% over the past three months, after jumping more than 8% last year. The gauge has slumped more than 10% from a record high reached in September.

While the greenback’s setback this quarter may not seem big, some experts believe the buck’s losses will snowball during the rest of 2023 – and there’s two main reasons for that.

Continue reading, here.

Fox Business/Madeline Coggins
Financial world legend sounds alarm over ‘biggest bank that’s going down’

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.

You can read the full article, here.

Kitco News/Neils Christensen
Why investors need to own gold in this banking crisis: There is always more than one cockroach in the kitchen – David Rosenberg

The gold market will remain well supported and should eventually see a sustained break above $2,000 an ounce as the biggest banking crisis since the 2008 Great Financial Crisis is far from over, according to one esteemed economist.

In an interview with Kitco News, David Rosenberg, founder of Rosenberg Research, said that gold and bonds remain two of his top investments for 2023 as the banking crisis threatens to push the global economy into a deep recession.

Rosenberg has been bullish on gold since December after publishing his 2023 outlook report.

You can read the full article, here.

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