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Technology Stocks : Discuss Year 2000 Issues
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To: Joey Two-Cents who wrote (7240)7/27/1999 1:40:00 AM
From: Hawkmoon  Read Replies (1) of 9818
 
If the U.S. is planning to print $ 250B to handle possible bank withdrawls. What effect would that have on our fractional reserve

Joey,

That's the tough question and why so many folks are ticked off at the likes of Ken and Co.

But then again, since supposedly the majority of nation's wealth apparently is held by the "elite" of America, maybe it won't make much of a difference.

Assuming $6-700 billion in cash in circulation and in reserve, that should be enough for everyone to have a couple of grand in cash on hand, just in case.

And personally, I'm happy that folks are buying gold/silver coins since if they feel those are a replacement for actual cash, then those cash reserves will go that much farther.

But beware of the possibility of a terrible crash in gold after Y2K, should things not be as terrible as some out here predict. There will be a mad rush to RE-CONVERT those coins back into usable cash.

Regards,

Ron
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