Events in Europe taking on a life of their own ...

[ThaBigP]

Greece on brink of collapse as citizens scramble in run on Greek banks to withdraw Euros ahead of forced conversion to Drachmas (aka chicken feed and Bazooka Joe wrappers ... not even the gum), along with a pending collapse of the Italian banking system (by virtue of taking a bath when Greece crumbles) as violence begins to spread there (hint: we ain't seen nothing yet)

[VTA]

Brilliant. He gets it.
But the lessons available will be lost, especially on the dolts living on this continent who like to tell us
1. Europe has (had) it right and
2. that the country we won our independence from is a good model for us to follow.

[JBond]

Greeks withdraw $894 million in a day: Is this beginning of a run on banks?

So it begins....

Political leaders in Athens were due to discuss an emergency government Wednesday to deal with a possible run on banks as it emerged Greeks withdrew almost $900 million in a single day, fearing their country could crash out of the euro currency by the end of the week.

An interim government would take the country through to new elections on June 17, triggered by the collapse on Tuesday of talks to form a coalition between winners of the inconclusive May 6 election.

Greeks are withdrawing euros from banks, apparently afraid of the prospect of rapid devaluation if the country leaves the European single currency and returns to the drachma.

President Karolos Papoulias warned of “great fear that could develop into a panic,” the minutes of Papoulias' negotiations with political leaders showed, according to Reuters.

http://worldnews.msnbc.msn.com/_news...-on-banks?lite

[trickblue]

Greece is close to imploding... very quickly...

I fear this could have ramifications throughout the world...