What in the ....

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Was reading North's usual commentaries and came across the following about a letter he proposes the FDIC send out. (You can read the original text at:http://www.remnant.org/y2k/detail_.cfm/2910)

"Keep in mind that there will probably be two "runs." One during the weeks preceeding 12/31/99 -- with cash flowing out at an unusual rate,"

Normal for Gary

"and one during the weeks following 1/1/00-- with cash flowing in. The second run may actually be more intense in volume. You need to be ready for both. "

Huh? Isn't Gary the guy who keeps saying the banks will have collapsed?

"I think banks (or perhaps the FDIC) should send notices to depositors: (i) educating them on the likelihood of disruption in funds availability and giving some practical advice --such as making a payment December 30 even if it's due on January 3,"

No biggie there

"(ii) urging them to take a critical view of the doomsday statements (including taking note of whether the person making the statement stands to gain from the panic -- such as a precious metals firm),"

Odd considering this is from a guy who sells a annual newsletter with, I believe, a annual subscription rate of $129.00

"(iii) acknowledging that they may feel the need to withdraw funds (whether that need is rational or not),"

The rational statement threw me off, but I think he means if the FDIC thinks it's rational or not

"and (iv) to make it orderly, urging depositors to withdraw early (starting 12/15) and only on one occasion. "

The whole thing throws me as it pretty much contradicts everything he has said about paper money up to this point.

Any thoughts? Rick

-- Rick Tansun (ricktansun@hotmail.com), October 26, 1998

Answers

Whoops!

You may want to re-read that, Rick. The parts you are quoting are from a post by a lawyer on the de Jager forum.

Scary Gary provides his version in a second (dummy) letter below the one you quoted. He remains true to form.

rocky

-- rocky (rknolls@hotmail.com), October 26, 1998.


As an afterthough, if Gary reversed course this drastically I might have to consider an early donation to the local food pantry ........ nah, won't happen.

-- rocky (rknolls@hotmail.com), October 26, 1998.

Rocky,

My bad. I did not see the little line of *************

Thought something smell rotten in Denmark!:) If Gary HAD said that I was going to fall over

Rick

-- Rick Tansun (ricktansun@hotmail.com), October 26, 1998.


Take what Gary says with a grain of salt. Granted, he has some great articles and excellent links but his personal opinion is extremely influenced by his religious agenda. Back in the 1980's he was predicting the inevitable collapse of society within a few years due to the AIDS virus. As you are aware, AIDS is very serious but our society still moves on.

-- Craig (craig@ccinet.ab.ca), October 26, 1998.

"Take what Gary says with a grain of salt. Granted, he has some great articles and excellent links but his personal opinion is extremely influenced by his religious agenda."

Only a grain? I tend to keep a large salt lick (for none farming types, this is a large cube of salt used to let animals lick the salt off of) on my desk for everyday when I go into Gary's site.

"Back in the 1980's he was predicting the inevitable collapse of society within a few years due to the AIDS virus. As you are aware, AIDS is very serious but our society still moves on. "

I just read his report on AIDS 2 nights ago. Was quite amusing, I espically liked the part about how the private schools would be over flowing and the public school system would be deserted.

Rick

-- Rick Tansun (ricktansun@hotmail.com), October 26, 1998.



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