The EU/IMF precedent of raiding bank accounts in Cyprus to bail out the country’s financial system sets a dangerous precedent and investors should “run for the hills” said investor Jim Rogers, chairman of Rogers Holdings, on the CNBC business network.
Rogers said that with Cyprus, politicians are saying that this is a special case and urging people not to worry, but that is exactly why investors should be concerned.
“What more do you need to know? Please, you better hurry, you better run for the hills. I’m doing it anyway,” Rogers said. “I want to make sure that I don’t get trapped. Think of all the poor souls that just thought they had a simple bank account. Now they find out that they are making a ‘contribution to the stability of Cyprus. The gall of these politicians.”
“If you’re going to listen to government, you’re going to go bankrupt very quickly,” he added.
“I, for one, am making sure I don’t have too much money in any one specific bank account anywhere in the world, because now there is a precedent,” he said. “The IMF has said ‘sure, loot the bank accounts’ the EU has said ‘loot the bank accounts’ so you can be sure that other countries when problems come, are going to say, ‘well, it’s condoned by the EU, it’s condoned by the IMF, so let’s do it too.'”
Exclusive: Sid Roth interviews author Judy Franklin
Underground-church pastor reveals amazing things Jesus is doing in Islamic World!
Exclusive: David Rives recounts effects of massive influx of water in brief time period
Exclusive: Richard Rives recounts history of when 'new' faith became practiced
Exclusive: Sid Roth interviews apostolic minister Hakeem Collins
Exclusive: Richard Rives notes disastrous results of applying aspects of pagan worship to God
Exclusive: Sid Roth interviews evangelistic minister David Yanez
Exclusive: David Rives urges people to watch night skies for Perseid meteor shower
Exclusive: Richard Rives notes most Bible scholars go to great lengths to avoid honest discussion
Exclusive: Sid Roth interviews prophet, pastor Jane Hamon
Joel Richardson shares the stories behind 'End Times Eyewitness' and newest movie
Exclusive: David Rives recounts dozens of examples of preserved soft tissues discrediting ancient age
Exclusive: Richard Rives reminds us Bible does not give us excuse to break 4th Commandment
Exclusive: Sid Roth interviews prophetic minister Aliss Cresswell
Exclusive: David Rives details amazing complexity of single plant leaf
Exclusive: Richard Rives documents when, where biblical mandates changed
Exclusive: Sid Roth interviews spiritual adviser, minister Shawn Bolz
Exclusive: David Rives warns about evolutionists sowing dissent among Bible-believing Christians
Exclusive: Richard Rives reminds us how we distinguish between God of the Bible and other gods
Exclusive: Sid Roth interviews minister Dr. Billye Brim
Exclusive: David Rives reminds us of Creator's incredible design
Exclusive: Richard Rives reminds us Jesus kept the Sabbath, we should too
Exclusive: Sid Roth interviews authors, cancer survivors Gary, Rosey Brausen
Why did the Lord command the ancient Hebrews to wipe out entire people groups?
Exclusive: David Rives asks if we can be Christian while believing in 'terrible lizards'
Exclusive: Richard Rives reviews how 2 were blended in early times
Exclusive: Sid Roth interviews author, minister James Goll
Exclusive: David Rives reminds us complexity of molecular language bears fingerprint of our Creator
Exclusive: Richard Rives warns aspects can still be found in aspects of contemporary Christianity
Exclusive: Sid Roth interviews evangelist, minister, author David Hernandez