The "Running of the Banks".................from Rico

Bank runs in Greece have so far sucked about $1 billion from greek Banks so far in May, and this number increases hourly as the ATM's are accessed by the people answer the question "if you had money in a Greek bank, why WOULDN'T you take it out?"
- The Greek banking system is at risk of collapse as greeks lose any faith or confidence in their system.

BUT, forget about Greece for now....except as a scenario that will be repeated in Eurocountry after Eurocountry as the Eurozone unravels and people quite rationally, and sanely, conclude it is the height of sheer folly to have their 'money' in Spanish banks or Italian banks (both disasters) when German or Swiss banks are easy places to 'park' whatever money they have (and seemingly 'safer' right now).

Ernest Hemingway made Spain's "the running of the bulls" famous, but thanks to the antics of Central Bankers we will have "the running of the banks" across Europe soon, and before this crisis is over.

Perhaps this is why few have seen THIS particular graph yet? Look at the percentage of Government debt that is Government revenue!
- Now tell me that anything is 'fixed' or is going to be 'all better' anytime soon.

This is not a good time to be holding paper 'promises to pay' like sovereign bonds, fiat scrip, or equities.
- When the inevitable systemic 'reset' occurs, those who hold bullion will be that last ones standing (Central Banks know this full well, which is why they are buying bullion right now while Bennie Bernanke, Warren Buffet, and Charlie Munger are 'talking their books' and trying to jawbone the price of bullion downwards).