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To: Jim McMannis who wrote (45017)	11/15/1999 1:40:00 AM
From: Terry Swift	Respond to of 116753

Hi Jim: Here's even more food for thought, but the taste is very bitter. Check out the following site. audiocentral.com Once there, select 'Radio Shows'. Then select 'McAlvaney Intelligence Report'. Then select 'Y2K Endgame' which was put on the site on 11/8. The commentary is from an attendee at the US Governments final symposium on Y2K. The attendees at the symposium are not a group of Y2K doom and gloomsters. They are technicians and IT people from Government agencies, including John Koskinen's Y2K group (Clinton's Y2K czar). It's worse than anyone believes but the government isn't making any announcements because its too late for everyone to prepare and they don't want a panic. Did you happen to catch the IRS announcement last week that they won't be ready? I was stunned when I heard a government agency admit they won't make it. Well, based on what came out at this symposium (the last one, btw), no government agency will make it. The Social Security Administration, which is supposedly the shining star of Y2K compliant Government Agencies won't be ready. They're actually considering writing SS checks by hand. You won't believe it. Defense? Only about 70% of systems have been inventoried and any remediation work done. This is a stunner. AND... AND... has anyone heard anything in the media about this? NOOOOOOOOO. 50% of the top Fortune 1000 companies will not be ready and will use FOF (fix on failure) remediation. Very, very bad news for equities. I'm surprised the big money isn't heading for the hills now. Maybe it is and the main Wall Street averages are being held up by mutual fund buying, which are forced to put cash into the market under their charter agreements with investors. Foreign countries? Mostly basket cases after 1/1/2000, including Japan and China. Batten down the hatches, my friend. It's gonna get rough. I don't see how the stock mark can survive this without a huge crash. It will probably play out over a period of months as the severity of the problems become known (they'll be impossible to cover up starting in January) but, at some point, there will be a stampede for the exits. If it is as bad as it looks, cash and physical metals are where I want to be. Terry