“The EU/IMF raiding bank accounts in Cyprus to bail out the country’s financial system sets a dangerous precedent and investors should ‘run for the hills’ said investor Jim Rogers, chairman of Rogers Holdings.  Rogers said that with Cyprus, politicians are saying that this is a special case and urging people not to worry, but that is exactly why investors should be concerned.  ‘If you’re going to listen to government, you’re going to go bankrupt very quickly,’ he added.  ‘I, for one, am making sure I don’t have too much money in any one specific bank account anywhere in the world, because now there is a precedent,’ he said.”

http://www.cnbc.com/id/100600824

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