Walter,
In the interest of stirring up the hornets and having looked into my crystal
ball, I'm going to answer your questions with some probabilities as I see
them .
Quoting:
It's December 1999. The banks will be closing for the holidays and you can only get about
$350 per day out of your ATM if it is not out of order.
( If it's December, your ATM has been out of cash for 60 days. If it's
Monday you may get $50 from your bank, just one bill. The smaller stuff
has been gone for months.)
Will stores stop accepting checks and credit cards?
(Who would want chits or promises? Cash is king for the man who has it!)
Will you trust the programmers to make sure that the computers remember how much
money
you had in the bank or in your 401k or in your mutual funds?
("money... you had in your 401k or in your mutual funds?" HA ha ha ha!
It's been gone for months. Only the early birds got value)
Will you have your money under your mattress?
(Only if you were farsighted and quick.)
Will there be a run on banks?
(Oh, that was back in September and October. Remember Halloween?)
Will the President put a freeze on withdrawals to ensure that there will not be a run on
banks?
(Sure he did, but as usual , too little , too late. And those late fall robins look
pretty hungry.)
Will you act soon enough to get a chance to put your money under your mattress?
(Now that is the question , isn't it?)
Is December 1999 too late?
(Not if you want to stay in.)
Will you leave your money in the market in these uncertain times?
(You will if you are not very careful. If you wait for the herd, you're just
another deer in the headlights.)
If you don't leave your money in the market in these uncertain times, what will happen
to
the economy?
(It's going to get a lot smaller.)
What will happen to the world economy?
(What economy?)
Do you care what happens to the economy or do you put your money under your
mattress??
(Of course I care what happens to the economy but I am neither Hercules
nor Sisyphus. I am rapidly going out of the market and the banking system
and into cash , producing agricultural property and precious metals. I don't
know if the Y2K problem is real enough to bring the economy crashing down
or if it isn't. I do believe that the public perception, spurred by numerous y2k
related glitches and with the complete lack of credible public voices to reassure it,
will be one of impending disaster. That is the recipe for panic.
When panicked I expect the public to attempt to control and collect as many of
their assets as possible. That then is the recipe for national financial disaster.
Without a convincing, creditable prophet it is as inevitable as the surf following the
storm.)
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