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To: John Hunt who wrote (29344)3/3/1999 5:39:00 PM
From: John Hunt  Read Replies (1) | Respond to of 116902
 
False missile-attack warning could spark Russian retaliation

<< Russia's disputes with the West over Iraq and Yugoslavia are increasing the chances Moscow might retaliate after a false warning of a missile attack, a top Russian defence official said yesterday. -- cont'd -- >>

canoe.ca

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Unit 103 Requires Service

<< As long as I remember to repeat to myself that they save the best for last, I think Y2K may be worthwhile. -- cont'd -- >>

y2ktimebomb.com

******

All this bad Y2K news has to be good news for gold ... And it's only March!




To: John Hunt who wrote (29344)3/3/1999 6:06:00 PM
From: IngotWeTrust  Read Replies (1) | Respond to of 116902
 
Goldbugs: w/401-Ks & State funded Pension Plans investors: LISTEN UP!! I repost this NOW for only one reason: Pat Roberston and others have advised all within earshot to get out of all equity and bond markets private and pension funded by March 31. Here is the true life account as I heard it with my own two ears from someone who DOESN'T listen to Pat Robertson, but tried to pull their money out over 1 year ago.

This is a TRUUUUUUUUE, all too painfully, realistically true story:

I happen to be a part of a study group as an invited market analyst
(whenever they meet)to deal with the esoterica of the Q&A time for my broker.

I sat totally emersed in the following scenario/conversation as it unfolded before my very ears: just this past spring into early summer 1998!!!

A client of my broker, I'll call her Cindy:
was listening closely to my broker's money candid money advice.
(FWIW--- My broker is a firm believer in Y2K and will has constructed various asset saving strategies for all economic units within her client book as relates to Y2K)

Cindy told us all within earshot of how she and her husband had discussed the info my broker had presented at an earlier study group almost 6 months earlier. The two of them decided to go extract their Oregon State Teacher's Pension Money she had vested (prudent financial planning yeasr ago) as the result of their private discussions, weighing pros and cons. She is no longer a part of the school system, btw.

Here is what happened to Cindy and John:
Armed with factual information and a list of questions, they called in to get the forms from her pension plan's Trustee...
only to be told they don't send them out through the mail. Cindy and John had to come in for an appointment to discuss their decision.

So, she asked for the appointment.
They told her they were booked solid for 3+ weeks and then gave her a date.
She accepted the date.

On Appointment Day, Cindy and John went in to see the Pension Fund Trustee.
That pension fund trustee wouldn't answer any of their questions. NOT A SINGLE ONE. Instead that Trustee took control of the conversation and layered them with documents regarding other choices besides cashing out such as other controlled funds to switch into rather than remove her vested monies.

That trustee also insisted upon them seeing their CPA before accepting their decision ORRRRRR ALLOWING THEM making a second appointment.

Cindy and John left that office very very frustrated. And if you knew Cindy or John, you have NO idea how pushy they BOTH are in real life conversations. They are very hard to get a word in edgewise with!!!! Especially Cindy, and I love her dearly.

So, Cindy and John called for their CPA appointment. He couldn't see them until after his vacation AFTER April 15 tax season was over. That was another 6 weeks they had to wait.

Then Cindy and John called the Oregon PERS trustee again for their second appointment...
Ayup...had to wait another 3 weeks to get in to see the Trustee again.

The trustee came through with the forms at this meeting, but wouldn't accept Cindy and John sitting in the reception area filling them out so that they could submit them before they left the building.

Why? Because other appointments were waiting and the Trustee just didn't "have the time."

~~~~~~~~Anybody besides me seeing a pattern here?~~~~~~

So, they made arrangements to mail in the forms instead of scheduling
another appt.
That done, they left the building.

They hadn't heard anything after 2 weeks, so they called and insisted on speaking directly to the Trustee, who came on the phone after they were rather hard on the secretary/gatekeeper. The Trustee said,oh, yes, the forms had been received, and were being processed by both
accounting and payroll. When the Trustee got them back signed off by those two depts., then their instructions would be carried out.

When Cindy asked why accounting was taking so long, the Trustee assured her that it was normal, because of all the federal paperwork involved in addressing the tax consequences of early withdrawal and attendant penalties.

Then Cindy asked why payroll was involved. The Trustee said it was because they had to remove the matching funds contribution of her employer and get the automatic deduction authorization removed from her payroll records database file.

Cindy nearly had apoplexy at this juncture. Cindy no longer was a teacher or anywhere involved in a state of Oregon PERS connected employment situation, and hadn't been for nearly 9 years. In POF, they owned their own Drywall business and had for the past 11 years.

The Trustee apologized for the missunderstanding and asked Cindy and John for another week's patience while his assistant checked it out
and got that mistake corrected.

By now 5 months had passed since Cindy and John's first decision to withdraw her Oregon PERS pension, ----penalties and all notwithstanding.

Cindy and John called back EGGGGXACTLY 1 week later and again got through to the Trustee's ASSISTANT. Said assistant was polite and told them all their paperwork was in order and Cindy's money would be available.

Cindy said, "Good! When can I come and pick it up?"
(Polite but pointed, eh? Do you think our Cindy is having a hard time believing this guy and trusting the system?)

"Well, just a minute, " the ass't said, and put Cindy on hold!!!
After listening 3+ minutes to the Funky Dog and his Bunky Fleas by Rolling Stones and Their Slimy Mossbacks Band on the "hold" button canned music, the Trustee came on the line and said, smooth as silk to Cindy:

"We can only cash in securities one day a month according to the PERS
guidelines, and since that day was 2 days ago, you will have to wait until the 28th of next month before I can cash in your pension. Then it should go out in the mail within 5 business days after we cash it in."

And, NOWWWWWWWW, you know the RREESSSSSSSSSSSSSST of the TRUE STORY!

Now, folks, before you go getting all mad at me, I did make up the part about what stupid music was playing on the Hold button, but the rest of it, every single word is true as true can be.

And this wasn't even a bank, folks.

Today is March 3. Let them with ears, and the Toms and Searles with cycle protractors who see the future, let's draw near and hear....

O/49r