Marc Faber : there is a lesson to be learned ( from Cyprus ) in a normal system , normal meaning that you have honest money you have responsible central bank what is the safest investment ? treasury bills and banks deposits , but in today's world may be cash in other words in treasury bills and in bank deposits may not be all that safe that's why I am telling people I may not like stocks and I think they are going to go down BUT , do you want to take the risk to have all your money in the bank , and then as in Cyprus the people that had less than 100 thousands in deposits they get their 100 percent of the money back but people that have five or ten million dollars they gonna lose 60 percent , you want to take that risk ? so you have to essentially diversify out of banks and out of cash
- in a recent interview with TruNews Click Here to listen to the full interview >>>>>
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.