Want to help someone get it?

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

You can:

Tell them about our interdependent fragile infrastructure - reaction: yawn

Tell them about embedded systems - reaction: yawn

Tell them about the systemic nature of Y2K - reaction: yawn

Tell them about global food shortages - reaction: yawn

Tell them about the current status of global telecommunications - reaction: yawn

Tell them about the current status of global trade, shipping & transportation - reaction: yawn

Tell them about the current status of the Electrical Power Industry - reaction: yawn

Tell them their money is not safe in the bank and they won't get it all out - reaction: WHAT? What did you say?

Think Money. It's always money. If you want to get through to someone, talk money. Regardless of if it is their 401k plan, stocks & bonds, or cash in a bank account. Back up what you say with the facts. Start with how little physical cash is in reserve and the low percentage of those that can possibly end up getting back what they deposited. They may not become instant "get its", but you will get their attention. Count on it, like money not in the bank.

-- Rob Michaels (sonofdust@net.com), February 18, 1999


AES2010: I ask you to consider the following, and then ask yourself the question: If I have family members and loved ones who have assets that, based on the facts below, I believe are at risk, isn't it appropriate to warn them?

Source: http://www.y2ksupply.com/bankchart.htm

Here are some FACTs for your consideration:

Total $ in circulation is the total cash (green paper dollars) in circulation around the world. Approximately 1/3 of this is in circulation in the United States according to Federal Reserve estimates. The amount is $480 billion. Deposit obligations is the total dollar amount that U.S. banks owe to depositors. This is the amount people believe they have safely saved in their checking and savings accounts. The amount is $3.7 trillion. Actual cash reserves is the amount that U.S. banks actually have on hand as cash. The actual figure is $43.2 billion.

What it all means: First, look at the difference between actual cash reserves and deposit obligations. The ratio is 1.17%. That means for every $100 you think you have in the bank, that bank, on average, actually has only one dollar and seventeen cents in cash. This does not mean the bank doesn't have the assets to cover your deposit, it simply means the bank doesn't have the dollars bills. You can see from the chart that actual cash reserves would have to increase by a factor of almost 100 in order to meet the deposit obligations if everyone were to ask for their money.

The only thing that can save this system from running out of cash is if the public maintains confidence in the system and does not withdraw funds. Fractional reserve banking is, by definition, unable to meet the deposit obligations of all depositors simultaneously. The reason Y2K has the Fed rightfully frightened is that Y2K hits everybody at the same time. While on any normal day, only a certain minority of people are suffering some kind of financial crisis and need their cash; on January 1, 2000, almost anyone and everyone might have a reason to want extra cash.

Won't the FDIC save the banks? The FDIC strives to maintain a reserve ratio of 1.25%, meaning that for every $100 of deposits they insure, they keep one dollar and twenty five cents ready to "rescue" failed banks. View the FDIC chart and see for yourself.

Note: Y2KNEWSWIRE.COM provides this information for awareness purposes only. It does not wish banking failures to occur. In fact, the failure of our banks and our Federal Reserve system would be extremely harmful to our quality of life and would obviously put Y2KNEWSWIRE.COM out of business. This information is provided in the hopes that some solution may be found to prevent worldwide bank runs.

Here are some other links you may find elucidating:






-- Rob Michaels (sonofdust@net.com), February 18, 1999.

You're wasting your time, Rob. BTW AES, see the sentence I just wrote? Those are the correct ways to use and spell "you're" and "your." One is a contraction, the other is the possessive case of "you.". Study this awhile before you post again.

-- Vic (Roadrunner@compliant.com), February 18, 1999.

Why? Is this another new troll?

(I have been offline for much of the past week)

-- Rob Michaels (sonofdust@net.com), February 18, 1999.

Boy, is he ever?

-- Vic (Roadrunner@compliant.com), February 18, 1999.

Rob --- You're exactly right and I have done this with some family members. Two points about banks: it's our money and if we want to have it returned to us in cash, it's our right to do so. Second point: see first point.

-- BigDog (BigDog@duffer.com), February 18, 1999.

Here are some absolute, undisputable facts about banking:

Personally, if I see banks moving towards responsibilty and a much more durable business model, I may choose to cooperate. But denial, PR and snow jobs are no substitute for the hard work that remains to be done. I do not see that happening as of today and the hour is very, very late.

It on these facts, and these facts alone, that I have always acted and will continue to act.

-- Arnie Rimmer (arnie_rimmer@usa.net), February 18, 1999.

Newbies: A picture is worth a thousand words: Right click on the hotlink and select 'open in new window' so you can bookmark or print the actual chart.

http://www.y2ksupply.com /bankchart.htm

Bigdog: Yep. This has worked for me when all else failed, which is why I started this thread. I think it can help people get it, in fact, I know it can.

-- Rob Michaels (sonofdust@net.com), February 18, 1999.

Well, AES,

No less an authority than John Kosinen himself said that the government can print money faster than we can withdraw it, and that withdrawing money won't cause a bank run. What's the matter, don't you trust the government?

-- anti (troll@gov.com), February 18, 1999.

Vic: Thanks - just checked the other threads - yikes! Your Right (only kidding!)

Arnie: Amen.

Newbies: Looks like the actual bank chart image is broken, though the hotlink works fine - darn - guess you'll have to make due with the text after all, which I pasted above. Facts still work. Give it a try.

-- Rob Michaels (sonofdust@net.com), February 18, 1999.

I'm really surprised that AES1020 has not posted under another name yet agreeing with himself. He has done it in two other threads now. New job assignment for him. He will be here until they send another.I think we should give another name to this type of troll that has been showing up now for about 6 weeks. Maybe a Disimformation Troll. Any suggestions?

-- kjdhgdf (hbvsifh@jkdfsab.com), February 18, 1999.


You just gave yourself away again when you said " Sometimes you have to cooperate with the so called enemy" TO GET WHAT YOU WANT" Did I have you pegged or what? Oh sorry, I meant You.

May GODS will bed done in your life before its to late for YOU YOU YOU.


-- flierdude (mkessler0101@sprynet.com), February 18, 1999.

But Arnie, you KNEW that when you gave it to them, they were going to rent it out. Hope my mortgage isn't part of what you are going to "insist" you get back.


-- Chuck, night driver (rienzoo@en.com), February 18, 1999.

Vic: If the only fault you can find is "your" and "you're," then you're a nit picker!

-- grammarpatrol (grammarpatrol@spell.com), February 18, 1999.

Moderation questions? read the FAQ