Discuss Year 2000 Issues Message Board

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Technology Stocks : Discuss Year 2000 Issues

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To: C.K. Houston who wrote (8417)	8/27/1999 7:44:00 AM
From: Rarebird	of 9818

To: Jon Matz (43177 ) From: Gersh Friday, Aug 27 1999 2:13AM ET Reply # of 43225 Hi Jon .. Thought that I'd answer this one .. The major damages that will result from Y2K will not be from hardware or software failure. Damage will take place from the impact of the majority of people taking slight precautions just in case. Little things like .. 60% of stock owners increasing their cash by 10%. 60% of the general population taking some cash out just in case. According to a survey done for the Federal Reserve 6% of people will grab every penny they can in cash before 1/1/00. They intend to cash in every thing they can. stocks .. bonds .. credit cards .. six percent here .. ten there .. One of the problems is that there isn't that much cash in existence. When was the last time that the banks said "sorry .. we don't have any more money left?" What was the reaction? We are still talking about humans, correct? Run on brokerages .. yes that would contribute. FWIW Gersh

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