Jim Rogers: Taking people's bank accounts is going to happen

On March 28, billionaire investor Jim Rogers appeared as a guest on the CNBC program, Squawk on the Street. During the four minute interview, Rogers was pointedly asked if what occurred in Cyprus was a one time deal, or if this is now a template for the future of Western economies and banks. Without hesitation, Rogers said that this is going to happen, and taking people's money from their bank accounts is a certainty as both the IMF and ECB have already condoned it in their precedent.
 

CNBC Host Carl Quintinella: What's your appetite on Europe at these levels?

    Jim Rogers: No, I'm certainly not buy there. It's pretty scary what's going on in Europe when they start taking money out of people's bank accounts. I for one am making sure I don't have too much money in any single bank account anywhere in the world now because now there is a precedent Carl. The IMF has said sure, loot the banks accounts. The EU has said loot the bank accounts. So you can be sure in other countries when the problems come are going to say, well, it's condoned by the EU, it's condoned by the IMF. let's do it too.

Read more: Examiner.com, 5 April 2013