Title: Globular Cluster Streams as Galactic High-Precision Scales Abstract: Using the example of the tidal stream of the Milky Way globular cluster Palomar 5 (Pal 5), we demonstrate how observational data of tidal streams can be efficiently reduced in dimensionality and modeled in a Bayesian framework. Our approach combines detection of stream overdensities by a Difference-of-Gaussians process with fast streakline models of globular cluster streams and a Markov chain Monte Carlo machinery. By generating ~10^7 model streams, we show that the unique geometry of the Pal 5 debris yields powerful constraints on the solar position and motion, the Milky Way and Pal 5 itself, which we allowed to vary in the models over large ranges without additional prior information. Using only readily-available SDSS data and a few radial velocities from the literature, we find that the distance of the Sun from the Galactic Center is 8.30+/-0.25 kpc, and the transverse velocity is 253+/-16 km/s. Both estimates are in excellent agreement with independent measurements of these two quantities, which usually require significantly more expensive data. We determine the Galactic mass within Pal 5''s apogalactic radius of 19 kpc to be (2.1+/-0.4)x10^11 M_sun. Moreover, assuming a standard disk model, we find the potential of the dark halo with a flattening of q_z = 0.95^+0.16_-0.12 to be essentially spherical - at least within the radial range that is effectively probed by Pal 5. We also determine Pal 5''s mass, distance and proper motion independently from other methods, which enables us to perform vital cross-checks. Our inferred heliocentric distance of Pal 5 is 23.6^+0.8_-0.7 kpc, in perfect agreement with, and more precise than estimates from isochrone fitting of deep HST imaging data. We conclude that finding and modeling more globular cluster streams is an efficient way for mapping out the structure of our Galaxy to high precision.