Last Updated 1:06 PM ET January 15 Banks in Trouble Nationwide

BLUE MOUNDS, WI (BUSINESS WIRE) - This controversial statement comes from one of the nations experts on the Y2K phenomenon. Author Randy Welsh addresses the imminent disaster facing all Americans in the coming months.

Computer expert, financial analyst, and Y2K consultant reveals the shocking truth.

In his new book "The Year 2000 Computer Disaster Survival Guide" due for release January 1999 the author details the startling facts that the government, the utility companies, the airlines, stock brokerage companies, and your local bank don't want you to know.

Using publicly available government documents and not so public banking industry sources Randy Welsh explains why:

The FDIC covers only 1.25 percent of people's deposits. Nationwide bank runs will start in mid 1999. The banks are planning to limit you access to your money. The National Guard is on standby for December 1999.

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I maintain that there will be a myriad of OBJECTIVE failures of the magnitude that will cause those who are caught unprepared to panic. Panic WILL occur. On the other hand, there is another potential source of panic. And that is panic on 'perceptions' of problems. It makes no difference from which source the panic occurs. It will come in either case. The 'perceptual' panic has the distinct pleasure of being able to occur first. I think it will. It will not take half the population to arrive at the panic stage. It will only take a small critical mass somewhere. And then....iut will b;ow like wildfire. I also believe that it would stand a good chance of actually hampering efforts if it began early enough.

Books like the one above will go a long way towards bringng that about. It does not matter if stuff like this is printed in the Economist or in Vogue or in GQ or in the daily paper. It IS being printed. Sooner or later, "One Way Or Another" its gonna getcha getcha getcha.

Even if his book is pure tabloid trash "detailing the **STARTLING** facts that the government, the utility companies, the airlines, stock brokerage companies, and your local bank ***DON'T Want You To Know!!!!***" (LOL LOL), people will still read it and remember it. Eventually this will get on Geraldo and Ricki Lake and Jerry Springer. And all those MINDLESS morons who watch those shows will remember. Just the fact that they actually watch those shows should make you recoil inn hooror, because it is THOSE people who will provide the critical mass for the panic explosion. people who watch jerry springer and Montel Willaims are not the kind of folks who will scratch their heads and say, "You know, I completely disagree with his logical inferences and I do not believe the veracity of his premises either." They are not the kinds of folks who will understand that the banking system falls flat when they bolt down there and draw off whatever they might have. And, to make it even worse, they are not the kind of folks who would give a rat's ass about YOU, even if they KNEW it would. For crying out loud...THEY ARE WATCHING JERRY FREAKIN' SPRINGER! What else do you want to knoew about their cranial functionality, or lack thereof? And then the Soccer Moms get scared and then the other folks watching lines form and little by little the news spreads and before you can say "John Koskinen is a modern day Judas." The bank runs are upon you and YOU are too late. The ONLY way to be 100% assured that YOU will survive intact is to get out BEFORE the panicking bozos.

Who knows if or when that critical mass of 'perceived' panic may occur. If not that, you only have to wait for the panic of the OBJECTIVE failures.

One way or another. Debby Harry was right.

http://nt.excite.com/news/bw/990115/wi-y2k-consulting

-- Paul Milne (fedinfo@halifax.com), January 15, 1999

Answers

Hey, Milne! Use a spell checker, huh?

-- a (b@c.def), January 15, 1999.

I remember someone saying "It is usually not wise to panic, but if you are going to, then panic first."

-- Rob Michaels (sonofdust@net.com), January 15, 1999.

yep... I've been trying to warn my family DGIs and DWGIs that it doesn't matter how it will occur just that it WILL occur. What difference does it make if the panic begins as a "self fulfilling prophesy"? In this case perception IS reality.

Mike ===================================================================

-- Michael Taylor (mtdesign3@aol.com), January 15, 1999.

I just have to vent alittle. I have been out surfin' the online newspapers. Seems to me the reports are positive. Sounds like the whole thing is fixed or will be shortly. Am I crazy, should I be worried. I seem to be the butt of the jokes at work and home. Nobody I know is worrying like me. I don't know if i can keep up the panic for another 50 weeks. I'm stressing. Maybe it will only be a bump in the road.

-- ?positive (?positive@speedbump.com), January 16, 1999.

Why would you think this book would make it to the media if others have not. There are a lot of books out there about Y2k and I do not see those authors on Jerry Springer or anywhere else. (I really do not watch Springer)

-- Linda A. (adahi@muhlon.com), January 16, 1999.

positive & Linda: remain vigilant. Patience. This shit is coming, It is not a game. What is about to happen is going to be unbelievable. That is why most people have trouble believing it.

-- a (a@a.a), January 16, 1999.

Most people are still fast asleep. They have been anesthetized by mindless television and other diversions. It is an old story. Keep them "entertained" and fed and you can do anything you want. Bread and circuses, for those of you who remember ancient Rome and the names of Cicero and Caesar. So, the masses have not yet reached the state of disbelieving anything, since they are not even awake. When they do wake up it will be too late, but they will be fully awake, and instantly. So those of us that are trying to be their alarm clocks are ringing, loudly and persistently, some will hear and awake and begin the movement up the Y2K evolutionary scale, but most will not.

-- Rob Michaels (sonofdust@net.com), January 16, 1999.