Money manager Peter Schiff says, “Cyprus is a wake-up call for everybody who has a bank deposit. . . . When you are depositor, you are, in fact, . . . lending your money to the bank.” Schiff predicts, “There’s no question . . . banks will fail. The question is will government do the right thing and allow depositors to lose money. Or, do the wrong thing and bail out depositors by printing a bunch of money which, in the long run, means deposits will lose even more value.” The FDIC has just $33 billion to insure more than $10.8 trillion in deposits. Schiff is not expecting bank runs anytime soon. “Don’t expect an immediate stampede on the banks because I don’t think most people are smart enough to realize what the danger is,” says Schiff. What’s the best way to protect yourself? Schiff says, “Why would you leave any extra money in a bank to get zero percent interest. . . . I think pull your money out, put it into some kind of investment. . . . anything other than a piece of paper that’s going to lose value.” Join Greg Hunter as he goes One-on-One with Peter Schiff of Euro Pacific Precious Metals.
Video of Jim Rogers on CNBC this morning 3/28/13: "If politicians say don't worry, then understand you have to worry and they will loot your bank account. Run for the hills and hurry to get your money out" IMF condoning stealing of people's money. He says don't trust any politician, if you do, you will go bankrupt quickly. Amazing the CNBC reporter agreed with him.
Short to the point segment. Get your money out of the banks!
You Are Going To Get Zero From Your Bank
You Are Going To Get Zero From Your ... 
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