FED Is Stockpiling Currency for 1999greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
You need to check out this link from Gary North's site:
A regional banker in New England has stated that the Federal Reserve System is stockpiling currency in preparation for y2k-generated bank runs in 1999. A Federal Reserve spokesman was close-mouthed, but did confirm that the FED plans to make liquidity. (When they see how massive this worldwide run is, a whole lot of central bankers will make liquidity -- right there at their desks.)
-- Pastor Chris (email@example.com), July 28, 1998
Gary North was interviewed today on a talk-radio show. He stated that there is only a certain amount of dollars circulated. Everything like stock, CD's, etc., is only on paper. He claimed that there will be a run on the banks sometime in July or August of 99. He stated that there is only $160.00 per person of currency that is actually circulated. A caller asked if more money couldn't be printed. Gary North stated that money is printed on special paper and there is only one source for that paper and the printers that it is printed on. There is too little time to do anything about that now. However, he did say, that maybe money would be printed on cheaper paper to get money circulating, and that money would be called "phony" money and would more than likely be devalued when exchanged. So, I think if you have tangible money, withdrawal now small amounts in $200.00 increments until your account is depleted. Keep cash on hand and just pay cash or buy money orders or cashiers checks for bills and everyday living. He also said to take care of your family and yourself first. Everyone has access to the same information. I talked to my "resistant" daughter tonight and she has now said that she knows I am right about what could happen with Y2K and that she is preparing to join us....so my family will all be together. Has anyone noticed the downward trend of the stock market the past few days? Bardou
-- Playedbythegame (firstname.lastname@example.org), July 28, 1998.
I particularly like the comment North made about "making liquidity right there at there desks." I believe they will be making mush in their shorts if the runs begin. Also, I follow the stock market regularly. The guru's never talk about Y2K. If you haven't already, check out Westergaards comment about the Wall Street's Y2K testing. I always figured it was bull(no pun intended), but Jim Lord puts it into perspective with his excellent comments!
-- Dave (email@example.com), July 29, 1998.
I see you listen to "Randall Terry Live". (Which is the show in which Gary North said all of that stuff). Randall said he'd be giving Y2k info every week now. I usually don't listen, but the radio just happened to be on yesterday, so I recorded the program. Randall is pretty inflamatory, isn't he? Do you listen to other Christian programs?
-- Areyou Serious (Bardog@baloney.com), July 29, 1998.
Hey Bardog.......you must like my baloney.com handle. Feel free to use it anytime. Actually, I don't listen to Christian radio, I just happened to be flipping the channels and I recognized Gary North's voice. I called my sister in San Francisco real quick and she got to listen too. Unfortunately, I only tuned in to the last 45 minutes. However, I probably will be listening more for Y2K updates and guests. I can't comment on the talk show host because I have never heard him before. I haven't heard anyone yet on radio, TV, newspaper, magazine, dispute what Gary North has said, I've only heard people attack his religious beliefs of the past and present. Bardou
-- Playedbythegame (firstname.lastname@example.org), July 29, 1998.