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Bugout In Progress: Fears Rising, Spaniards Pull Out Their Cash and Get Out of Spain

 
Anonymous Coward
User ID: 22925004
Mongolia
09/04/2012 10:01 PM
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Bugout In Progress: Fears Rising, Spaniards Pull Out Their Cash and Get Out of Spain
"“The macro situation in Spain is getting worse and worse,” Mr. Vildosola, 38, said last week just hours before boarding a plane to London with his wife and two small children. “There is just too much risk. Spain is going to be next after Greece, and I just don’t want to end up holding devalued pesetas.”

Mr. Vildosola is among many who worry that Spain’s economic tailspin could eventually force the country’s withdrawal from the euro and a return to its former currency, the peseta. That dire outcome is still considered a long shot, even if Spain might eventually require a Greek-style bailout. But there is no doubt that many of those in a position to do so are taking their money — and in some cases themselves — out of Spain."

[link to www.cnbc.com]

So not only are Spaniards removing their wealth from Spain, some of them are also removing themselves too.

But why would they leave Spain (or Greece) just before it's economic collapse? If they get their money out, isn't that enough? Are they afraid of losing access to their offshore money? Are they afraid of bank holidays that would cut off their credit cards from their offshore funds? Are they afraid of riots? Are they afraid of marshall law? Are they un-patriotic for leaving their country before its collapse?

When the USA economy soon follows suit and collapses too, who will get their wealth out of FRN's and out of their country before this happens?

And who will get their families and themselves out of the USA before it collapses?
chris999

User ID: 19470458
United States
09/04/2012 10:12 PM
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Re: Bugout In Progress: Fears Rising, Spaniards Pull Out Their Cash and Get Out of Spain
dynamite
I dont mean everything I say to be literal. I just like to throw around ideas, and play devil's advocate.

I do not feel obliged to believe that the same God who has endowed us with sense, reason, and intellect has intended us to forgo their use.

-Galileo Galilei
Anonymous Coward
User ID: 23171581
United States
09/04/2012 10:17 PM
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Re: Bugout In Progress: Fears Rising, Spaniards Pull Out Their Cash and Get Out of Spain
At some point

no place will be safe
Anonymous Coward (OP)
User ID: 22925004
Mongolia
09/04/2012 10:32 PM
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Re: Bugout In Progress: Fears Rising, Spaniards Pull Out Their Cash and Get Out of Spain
At some point

no place will be safe
 Quoting: Anonymous Coward 23171581


Maybe, but not all at the same time.

You can play musical countries, depending on which one is about to collapse, and which ones are doing relatively well.

Just like your choice of grocery store supermarkets: you can choose which one will give you the best deal, and vote with your feet.
Anonymous Coward (OP)
User ID: 22925004
Mongolia
09/04/2012 11:44 PM
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Re: Bugout In Progress: Fears Rising, Spaniards Pull Out Their Cash and Get Out of Spain
Supermarkets being looted in Spain by FerFAL

[link to ferfal.blogspot.com]

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