SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?


To: Alex who wrote (43878)10/26/1999 12:46:00 PM
From: IngotWeTrust  Read Replies (2) | Respond to of 116815
 
Alex quotes: First National's failure has created a $465,000 hole in Keystone's municipal budget,forcing officials to lay off six of 15 employees. The bank's loss also has taken $200,000 out of McDowell County's annual $2.9 million budget, officials said.

Katherine Young, a manager of a medical equipment business in Northfork, said she fears ripple effects if Keystone bank's failure takes down its top two officers.
''It's like the town is going to be a ghost town,' she said.


MY COMMENTARY:
It is quite fascinating to me to read the above quotation from Alex's post. People who think there are no cascading effects dead ahead in Y2K's occasionally 'system failures' scenario aren't paying very close attention.

I submit we have many cascading affects ahead, and one of Y2K's primary beneficiaries is going to be the PRICE OF GOLD!

O/49r

For those who want to reread Alex's entire proferred article on the bank failure for a different perspective, please click:
biz.yahoo.com