From: lewrockwell.com
by
Tekoa Da Silva
by
Tekoa Da Silva
Bull
Market Thinking
I was able to reconnect
for an interview with legendary Quantum Fund manager and commodities
bull, Jim Rogers. This was an especially groundbreaking interview,
as Jim shared thoughts on what governments around the world will
be taking next, and what he’s doing right now to protect his
personal bank accounts following the Cyprus collapse.
Speaking towards the frightening implications of
the Cyprus banking collapse, Jim said that, “It’s been
condoned [now] by the IMF, the European union, and everybody else
in sight; that a government in need,can take assets. We all knew
they could tax us…but this is the first time that I’m
aware of, that they’ve gone inand taken bank accounts. They
took gold from people in the U.S. in the 1930′s…but
I’ve never heard of them taking bank accounts. [Now] they’re
doing it. So be careful [because], now they can take your bank account
under this precedent.“
When asked if bank account confiscation will be
going worldwide, Jim said, ”Well, it’s now in their
bag of tricks, but yes, they can do anything they want too now.
I for one am worried andI’m taking preparations. Who knows
if I’m right or not, but I’d rather be safe than sorry
as all of thosepeople who had money in Cyprus have learned. They
thought they had a normal bank account… but now it’s
been [taken] with the sanctions of many governments and institutions.”
Jim also urged that, “If people have money
in any account, anywhere in the world…cut it down to under
the guaranteed amount. They might take that too someday when things
get desperate, because the precedent has been set, but that’s
where I would start if I had money in the bank anywhere in the world.”
With respect to which assets governments will likely
be coming for next, Jim said, ”401k plans, IRA’s, and
pensions plans which the government knows about [may be next]…They’re
rationale would be, ‘Well most people haven’t been doing
well in their IRAs and pension plans for the past several years,
so we’re going to help you. We’re going to take your
pension plan and give you government bonds so that you have a guaranteed
return.”
Jim further added that, ”That’s how
they’ll rationalize taking our money. They know where all
the pensionplans are because we have to report it, so they’re
easily accessible by governments. They know where they are, what
they are, and they’ll be able to snatch them away. Who knows
what they’ll do, but they’ll certainly find some way
to take our money when things get worse, they always have.”
As a final chilling comment to end the interview,
Jim noted that, “Anything they know about—they might
easily take.”
This was another powerful interview, conducted with
an absolute legend of our time. It is required listening for serious
investors and market students.
To listen to the interview, left click the following
link and/or right click and “save target as” or “save
link as” to to your desktop:
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