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Tuesday, Apr 2
The expropriation of wealth that happened in Cyprus will happen everywhere, warns Marc Faber....
The expropriation of wealth that happened in Cyprus will happen everywhere, warns Marc Faber. Growing wealth inequality means that the wealthy have nowhere to hide and similar events like those in Cyprus will happen in more countries around the world, including developed nations, where wealthy people will lose part of their wealth, either through expropriation or higher taxation. "You have to be prepared to lose 20 to 30%," Faber says. "I think you're lucky if you don't lose your life."