Wednesday, March 25, 2015

JIM ROGER : North Korea is probably a very safe country to keep your Assets

Geoff: So the question of confiscation always comes up with our experts, Jim. So the question right now is, what are the top three safest countries to keep your money and assets, and why?



Jim Rogers : Keep your assets protected from whom? Depends on… North Korea is probably a very safe country to keep your assets if you’re trying to protect it from the U.S. and the West, I’m not so sure it’s safe for protecting it from the North Koreans if they get angry at you. It depends on who you’re trying to escape. I guess places like… Well that’s a tough one, because if you’re trying to protect it from everybody, you’re going to have to find yourself in an obscure country that nobody’s angry with, and which respects the rule of law and the sanctity of private property. I live in Singapore and I have assets in Singapore, but I have assets in various countries around the world. I have assets in U.K., some in the U.S. Trying to get my assets out of the U.S., because I expect exchange controls eventually. Switzerland, Austria, I mean these are countries that traditionally have been okay, but even these countries, especially Switzerland is not what it used to be as far as sanctity anymore. Singapore is the answer that pops to mind most of all for many reasons. The problem with that is, if the U.S. really comes after somebody, Singapore would probably cave to the U.S., depending on the circumstances. - via Sprott Money

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