From Bill Bonner, at davidstockmanscontracorner.com:
Over the weekend, the lines in Greece stretched along the street. Around the corner. Down the block. Lines to get cash. Lines to buy gas. Lines of people eager to get their hands on something of value. Food. Fuel. Cash. Pity the poor guy who was last in line …
… the poor taxi driver, for example, standing behind 300 other people, trying to get 200 lousy euros out of an ATM. Like a tragic nightclub customer … among the last to smell the smoke. By the time he headed for the exit, it was clogged with desperate people, all struggling to get through the same narrow door at the same time.
Remember: When a bear attacks in the woods, you don’t have to be faster than the bear. You just have to be faster than at least one other hiker…
Likewise, you don’t have to be the first one to get your money out of an ATM. You just want to be sure you get your money before the machine runs out of cash. And when a bear attacks Wall Street, you don’t have to be the first to sell. But you definitely don’t want to be the last.
To continue reading: What if Gold Is Declared Illegal?
