Discuss Year 2000 Issues Message Board

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Technology Stocks : Discuss Year 2000 Issues

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To: John Hunt who wrote (7181)	7/25/1999 6:38:00 PM
From: Lane3	Read Replies (1) of 9818

If I take money out of circulation now rather than later, I avoid the line at the bank and, as you say, the bank can manage its inventory better when the withdrawals are spread out. But the date withdrawn from the bank is irrelevant to the Fed because all the withdrawn money will still be out of circulation at the same time on January 1. As a result, the Treasury still needs to print and the banks still need to stock up. And there's no practical way for us all to gas up our cars long in advance. It wasn't my intent to suggest that it is irresponsible for individuals to take these simple steps if they so choose. I was questioning the value of an orchestrated campaign to scare masses of people who are outside the problem solving loop and whose collective panic could worsen the situation. I'm focusing on the human part of the equation--the part that clears the supermarket shelves of milk, water, and toilet paper whenever an inch of snow is forecast. That behavior has messed up my own JIT household inventory more than once. If there's some advantage to society in continuing to sound the disaster alarm when it's too late to move to Montana and dig a bunker, I would welcome the insight. Karen

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