JIM ROGERS: GOVERNMENTS WILL LOOT PENSIONS, SAVINGS – HOLD ONTO YOUR GOLD
SilverDoctors.com
MAY 9, 2014
When asked how governments will react to the next global economic decline, legendary investor Jim Rogers warned that Western governments will loot pensions and savings:
“For one, there will be more confiscation of wealth. Americans and Europeans have already made it legal to take money from private bank accounts, or at least parts of them, in order to bail out banks. They will likely help themselves to pension plans too.
Gold and silver should provide investors some protection against government confiscation. They will probably go for bank accounts and retirement funds, because they need cash. In fact, that is already happening in Argentina and Poland. Gold and silver are no longer part of the monetary system, which they were back in the 1930s’ when they last confiscated gold and silver. From the government’s point of view, gold and silver are not ideal – it is money they need.”
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