With three banking giants collapsing like a deck of cards in a matter of days, occurred almost simultaneously, concerns are mounting over potential contagion in the financial markets. It has led to the cost of insuring Credit Suisse bonds against lender default reaching its highest level ever, setting alarms ringing.

Robert Kiyosaki, the co-founder of the Rich Dad Company, who famously predicted the collapse of Lehman Brothers in 2008, has identified Credit Suisse as the next bank at risk of insolvency following the recent closure of Silicon Valley Bank (SVB).

Interestingly, Axel Lehmann, the Chairman of the Credit Suisse Group, said he will waive his first-year payment of 1.5 million Swiss francs ($1.6 million) amid the bank's disappointing annual performance.

Credit Suisse recently disclosed that the Securities and Exchange Commission had raised concerns regarding the revisions made to the bank's cash-flow statements and related controls for the financial years 2019 and 2020.

Although Credit Suisse did not provide specific details regarding whether these concerns had been addressed, the bank did acknowledge the presence of "material weaknesses" in its internal control over financial reporting.

SVB, Signature Bank and Silvergate collapsed quickly one after the another, sending the Biden administration scrambling to contain the damage.

Kiyosaki believes that the bond market is the primary concern and that it is "crashing". He voiced these concerns during his appearance on Fox's "Cavuto: Coast to Coast" on Monday. Kiyosaki said it is the biggest challenge facing the U.S. economy and will eventually lead to serious trouble.

The analyst also expressed concern over pension plans and individual retirement accounts (IRAs), saying bank bailouts will ultimately impact the American taxpayer the most. Holding a dollar bill, the expert said, "The U.S. dollar is losing its homogeny in the world right now. So they're going to print more and more and more of this, trying to keep this thing from sinking."

Larry McDonald, the founder of The Bear Traps Report and a best-selling author, recently appeared on "Mornings with Maria" and drew parallels between the collapse of Silicon Valley Bank and Lehman Brothers.

McDonald expressed concern over the way SVB had managed its operations, calling it "bloodcurdling irresponsibility," and criticized the Federal Reserve for enabling this behavior. He warned that raising interest rates could lead to the collapse of other banks, similar to what occurred during the Lehman Brothers crisis.

The Fed has been on a campaign to raise interest rates to tame elevated inflation but that has led to bonds, where banks typically park their funds, losing their value. SVB's collapse was quickened as it failed to raise capital by selling those bonds, even at a loss.

Meanwhile, banking stocks in Asia extended their fall as investors worried about the bank collapses in the U.S., dragging down broader indices.

Following the closure of SVB, clients of the major tech startup lender are expected to turn to the Federal Deposit Insurance Corporation (FDIC) to recover their deposits.

Logo of Swiss bank Credit Suisse is seen in Zurich