Clinton -- doomed & wagging, Japan collapses, Y2K bug, etc Message Board

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Politics : Clinton -- doomed & wagging, Japan collapses, Y2K bug, etc

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To: Sidney Reilly who wrote (547)	10/6/1998 7:42:00 PM
From: SOROS	of 1151

Did you know that about 11 billion dollars was withdrawn from mutual funds in August? How much in September??? I believe these are small investors losing confidence in the WONDERFUL, NEVER-ENDING, ROCKET-CLIMBING, FOOL-PROOF STOCK MARKET. When they begin to leave in MASS, the DOW could quickly drop 2000 points or more. Oh, and there's a little problem called Y2K. The gamblers pounced and abandoned it. The investors ridiculed it. BUT, the perception may be the straw that breaks the DOWager's back. Loss of confidence in the Markets, when coupled with the "perception" that your neighbors may be taking some "just in case" cash out of the banks, could lead to bank runs regardless of the final results of Y2K. There is, I believe, only about 1-2% of the total deposits AVAILABLE for withdrawal. Guess what happens when good ol' mom and pop want to take out, say, 5-10%? It's coming. Get ready. I remain, SOROS

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