Jim Rogers : “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.
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.
That’s how they’ll rationalize taking our money. They know where all
the pension plans 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.” - in Lew Rockwell
Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).