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For those who live in PIIGS, what are your plans?

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Al_Gore the Idiot Posted: Sun, Sep 18 2011 2:49 PM

For those who live in PIIGS (Portugal, Spain, Italy, Ireland) countries, do you guys have any preparation plan for the inevitable debt bomb implosion? I am not just talking financial preparation, but preparing yourself against riots, violence, and widespread chaos as well. We may be talking just a few months away.

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JL R replied on Sat, Sep 24 2011 1:40 PM

Spaniard here.

The possibilities for that (probably fueled by Greece's default which will probably happen in 1 year or less), are there. Debt here is growing, the European Central Bank is pumping more and more money to banks. However, we'll soon have elections here, and is expected for the PP (liberal-conservatives) to win. They already control the local and autonomic government and are reducing public expending, and taxes. I hope they take the right steps if/when they arrive to power.

But if the worse happens, the plan is to get away from the country, no destination set yet.

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Bob Precher in Conquer the Crash said that, in terms of personal safety, Australia, New Zealand, Canada, and the US would likely be the safest countries to weather the storm. Switzerland would probably be a safe haven as well in my opinion.

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Wheylous replied on Sat, Sep 24 2011 8:59 PM

Mongolia might be safe...

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