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Cyprus can't happen in the U.S.? But it already has, Rule notes
4:45p HKT Thursday, March 21, 2013
Dear Friend of GATA and Gold:
Interviewed by King World News, Sprott Asset Management's Rick Rule notes that the suppression of interest rates in the United States, depriving savers of nearly all interest income, is as much theft as the planned confiscation of or "tax" on bank deposits in Cyprus. That is, the question whether such expropriation can happen in the United States has already been answered, and savers might do well to store some savings in a vehicle that has no counterparty risk and resides outside the banking system. An excerpt from Rule's interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/21_Is...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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