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Technology Stocks : Y2K (Year 2000) Personal Contingency Planning -- Ignore unavailable to you. Want to Upgrade?

To: C.K. Houston who wrote (716)	2/21/1999 8:21:00 PM
From: Cheeky Kid	Read Replies (1) \| Respond to of 888

Comparing banking 50 years ago and today?? Banks try to exterminate fears that Y2K bug threatens deposits chicagotribune.com This article is both side of the issue! >>>>Beyond the industry's rhetoric, there is reason to believe that the banking system and its customers will cross into the year 2000 relatively unscathed: Its mortgage systems have been able to recognize the next century for almost 30 years, and many credit cards are working now with expiration dates beyond 2000.<<<<

To: C.K. Houston who wrote (716)	2/22/1999 1:53:00 PM
From: JSI	Respond to of 888

C.K., I don't think it is a question of where you put your money, but what you do with the records. As we are all aware, everything is connected. Just because the financial institution you choose to keep your funds with claims to be Y2K compliant, doesn't mean you're money will be available. Most banks keep a very small percentage of total deposits on hand (between 5% to 10%). The rest of the money is electronic used for loans, investments, etc. Any panic at all could crash the system. It will only take a relatively small amount of people to drain a bank dry of liquid cash reserves. Again, doesn't matter where the money is, it all has the same potential to run into problems. The only obvious benefit to keeping the money domestic is the ability to personally see, smell, touch, etc. the location where you have entrusted your money. JSI