Investors Shocked & Frightened In Aftermath Of Cyprus Scare
March 20, 2013
On the heels of the Fed saying it will continue its unprecedented $85 billion a month purchase program, and continued fear from events surrounding the attempted government theft of bank accounts, today King World News spoke with acclaimed money manager Stephen Leeb to get his take on the situation. Here is what Leeb had to say in this powerful interview: “What Sinclair said is right on the mark, the Russians are very big players in Cyprus. You do not want to mess with the Russians. But beyond that, the whole issue is horrifying. This was an attempt by government to outright confiscate money directly from people out of their bank accounts.”
Stephen Leeb continues:
“I can’t tell you how horrifying this has been to people that are watching this situation unfold. Whatever percentage they were looking to steal, what’s to say that next time it wouldn’t be 30%, 50%, or even 90%? All of the sudden you have this attempted outright theft from by governments. This was an utterly authoritarian move by the players involved, and it has shocked the world….