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To: long-gone who wrote (39684)	8/27/1999 10:34:00 AM
From: Rarebird	Read Replies (2) \| Respond to of 116984

Interesting Post: Puts/Calls : Waiting for the big Kahuna \| Previous \| Next \| Respond \| To: Jon Matz (43177 ) From: Gersh Friday, Aug 27 1999 2:13AM ET Reply # of 43228 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

To: long-gone who wrote (39684)	8/27/1999 11:16:00 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 116984

Richard, That has been some discussion about delaying the State Dept advisory due to the APEC summit being held in New Zealand between 7-13 Sept. I've heard some rumours that the White House doesn't want such a report to come out right after the end of the APEC meeting where Y2K concerns will be discussed and addressed by Clinton and other leaders. And there is still debate about what the contents of that advisory will contain, especially with regards to stockpiling of prescription drugs and food by American citizens overseas. But it needs to be emphasized as well that US Y2K concerns overseas stem more from the vacuum of confirmable or reliable information, than from any specific belief that disruptions will occur. Due to this lack of information, State Dept folks feel they have a legal obligation to brief US citizens on nations where they lack sufficient data to negate concerns over potential Y2K disruptions. Again, they are not specifically stating that such nations will have disruptions. Rather, only that they have insufficient data to proclude that possibility, thus necessitating an advisory. This has been a VERY contentious issue at State as they fear that they will provoke a panic from any misunderstanding of the language contained in the advisory. Regards, Ron