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What Happened In Cyprus Will Happen Everywhere: M. Faber

 
“It will happen everywhere in the world, in Western democracies,” Faber said “Squawk on the Street” on Tuesday. “You have more people that vote for a living than work for a living. I think you have to be prepared to lose 20 to 30 percent. I think you’re lucky if you don’t lose your life.”

“If you look at what happened in Cyprus, basically people with money will lose part of their wealth, either through expropriation or higher taxation,” he added.

Read the complete article at CNBC here.

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