Today
John Mauldin told King World News that investors have to be very
careful going forward in the aftermath of what has just taken place in
Cyprus. Mauldin, who is President of Millennium Wave Securities, also
spoke about gold and what investors need to do now to protect
themselves. Eric King: “John, I have to ask you about this Cyprus disaster and the fears all over the world now that theft of bank deposits has become a reality?”
Mauldin: “It (Cyprus) seems to be on everybody’s mind and for good reasons. This was not expected. And I really think the EU was pretty ‘ham-handed’ (in how they have handled this crisis). There was an implicit, it wasn’t explicit, it wasn’t in the rules, but there was an implicit understanding among everybody that 100,000 euros was sacrosanct.
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