GTE advices bank customer to withdraw extra cash : LUSENET : TimeBomb 2000 (Y2000) : One Thread

and California bank officials are not happy about it...

-- Arnie Rimmer (, February 05, 1999


sorry about the typo in the subject line...

-- Arnie Rimmer (, February 05, 1999.

Hi Arnie

I still don't understand why the banks are so resistive. If the figures are there then so is the money - right? Am I under the impression that the figures in our accounts are not backed up by money? Is this the problem? Who would have thought that because the banks identify one's wealth in black and white and when it comes time to call their bluff then they fold. Well if that is what banks do I don't want my money, that isn't there anyways, in such an institution. Do the words false representation fit our great financial institutions?

-- Duane (, February 05, 1999.

Surprise! Surprise! The banking sytem isn't honest. There isn't cash for all those who want it. Golly gee, who woulda thunk it! This subject has been beat to death on other threads herein. There are GIs and DGIs in the money/banking/credit area as well as Y2K. Most of you Y2K GIs are probably still money/banking/credit, DGIs even DWGIs.

Go to the bottom of the page you got to this from, and look up the money/banking etc., threads.

There is more to this forum than just the 20 new questions this afternoon.

-- A (, February 05, 1999.

The FED is printing an EXTRA 50 BILLION in cash for the Y2K "run". So 50 billion / what, 250 million people = $200.00 per person, in EXTRA cash, the reserve as in federal reserve.

-- Sysman (, February 05, 1999.

My guess is less than 20% of the US population have over $1K in the bank. Most have no money to "take out". They live paycheck to paycheck. With most of their "investments" in their house and a 401K. We have had negative savings rates this past couple of months. People spending more than they make, it's the American way! Give me 12 rolls of Charmin, instead of a $5. bill come this time next year.

-- Bill (, February 05, 1999.

NO The money that your statement says is in your account was loaned to ME so I could buy my car. Or maybe it was loaned to your new neighbor so they could buy the house. this is how the world works, today.

If you aren't happy about it, figure out another way and introduce it. Only, first, decide if we're going to use gold or moovils.

(read circus world? anybody)

-- banking system understood (not@money.pollyanna), February 06, 1999.

"The money that your statement says is in your account....." Again I ask what money? It would be a reasonable assumption if my statement says I have $xxx then I can draw it out - no questions or problems. Oh, so there is a cash flow problem with that concept. I expect the same hand that took my money in will be used to give it back to me - duh me.

The word money should never be spoke inside a bank - instead the words to be used are figures. The banks are not in the money business they are in the figure business. What do the figures on your statement represent well obviously it's not money because there isn't enough to support thier figures. So I will keep my money and you keep your figures. Example: Yes Mrs Smith your account shows you have this figure with our bank xxxx - You say you want to trade your figures in for money? WE don't do that here - sorry!

-- Duane (, February 06, 1999.

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