SIA: get copies of all important activites, er, well, except NOT actual stock certificates. Those will be safe.greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Washington Post: Those you don't need.
Oh, also plan for Y2K Errors In Trading, Group Says.
"The report will dissuade investors from getting these physical stocks, saying that records at home and at the firm will provide a sufficient paper trail."
The group also discourages investors from selling stocks in fear of Y2K problems.
-- Lisa (email@example.com), May 26, 1999
For anyone concerned about stock, bond certificates,etc. the key word is "liquidity". Think about it, when problems start to arise how long do you feel it will take from the time you sell the investment until you can actually realize the cash in your hand. I've been away from the investment business for a while but I'm pretty sure it could take at least a couple of days in good times. What do you think the time frame will be in the case of a Y2k induced bank panic or run? My belief is that there was a lot of leftover, worthless paper from various world wars, bank panics,etc.
-- saveamerica (firstname.lastname@example.org), May 26, 1999.
IMHO< a shortage of paper money and coins would occur in a bank run and there isn't enough time for the Feds. to print or mint enoough to provide "liquidity".
With a short "supply" of money and a big "demand" for cash, until more is printed, it will be valuable after the rollover.
I suspect if inflation soars prior to the rollover, most people will decide cash will lose it's value and wait until it is too late to obtain it.
Most people are unaware that banks can legally provide other "cash equivilents" such as a money order or traveler's check. Once the Fed is able to print and coin more cash, then it may become worthless. But given the state of REAL compliance in the Fed. that could be a while.
-- Leslie (***@***.net), May 26, 1999.