Jim Rogers: 'Run for the Hills', Why Investors Should be Worried
April has been the best performing month of the year since 1950... but don't hold your breath.
The S&P 500 may have surpassed an all-time closing high, but Jim Rogers isn't impressed. He's still not buying stocks and he doesn't think you should be either. According to CNBC's“Squawk on the Street,” Rogers believes “it is very artificial. If you give me a trillion dollars, I'll show you a good time too and a lot of people are having a good time. I'm somewhat skeptical because I know it's going to end badly."
Additionally, Rogers assured the world that he is not investing in the U.S. at all due to our mad-money-printing-addiction, courtesy of the Federal Reserve.
In light of the Cyprus banking debacle, politicians and financial leaders are making a valiant effort to encourage people not to worry. According to Rogers and other successful investors, that is a red-flag in and of itself.
"If you're going to listen to government, you're going to go bankrupt very quickly,” saidRogers.
Rogers isn't about to listen to these scheming politicians and lose his hard-earned wealth without putting up a fight. He says he's running for the hills and you had better consider doing so as well: “I want to make sure that I don't get trapped. Think of all the poor souls that just thought they had a simple bank account. Now they find out that they are making a 'contribution' to the stability of Cyprus. The gall of these politicians."
Paying attention to what happened in Cyprus and learning from the precedent that was set has led Rogers to think twice about having too much money in any single bank account anywhere in the world. Now that the IMF and the EU has said it's okay to “loot” the bank accounts of innocent people, you can bet your money that other countries will too follow suit when financial problems arise.
If it's an act now condoned by the IMF and EU alike, other countries won't think twice about condoning it either. In fact, Rogers is convinced that next time something of this magnitude erupts, “they're going to go crazy.”
If you're smart, you'll wise up to what's really going on in the markets and smell out the true safe-havens before the rest of the world finally catches on and precious metal prices soar...