Is $27,000 gold a real possibility?

5.15.24 - Is $27,000 gold a real possibility?

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BRICS: Billionaire Makes Major US Bank Failure Prediction -Watcher.Guru

Banks have been under strain for some time now. Account closures, deposit seizures, bank failures ... the list goes on. Another billionaire is weighing in on the discussion and urging preparation for what could be a wave of failures.

With the BRICS bloc embracing de-dollarization and encouraging a global economic shift, one notable billionaire has made a major US bank failure prediction. Indeed, real estate investment mogul and CEO of $115 billion Starwood Capital, Barry Sternlicht, has urged preparation for widespread failures in the coming year.

Speaking to CNBC, Sternlicht predicted that the United States would witness one bank failure every week. Specifically, he stated that the more than 4,000 regional and community banks in the country would be at risk due to high interest rates and inflation. All the while, the US debt crisis is nearing, with the greenback facing lessening prevalence internationally.

Over the last several years, the increasing relevance of the BRICS alliance has been a massive geopolitical development. It has seen the global south get a renewed voice amid the collective's pursuit of a multipolar world. However, their initiatives have greatly affected the West, with the US dollar being abandoned through BRICS trade activity throughout the year.

However, that BRICS action isn't all that should be concerning, as a billionaire has made a major US bank failure prediction. Additionally, the aforementioned Barry Sternlicht has forecasted a host of bank failures to take place in the coming year.

"I think people are looking for these cracks, and you're going to see the cracks develop now. You're going to see a regional bank fail every day, or not-every week, maybe two a week," Sternlicht said in an interview.