TAMPA BAY AREA A Tribune staff, wire report Y2K war chests planned

About 32 million households plan to build Y2K contingency funds by withdrawing about $99 billion, of which $44 billion would be withdrawn in the fourth quarter, according to a nationwide study by PSI Global, a Tampa financial service information company.

PSI released the results as the nation's top financial leaders warned at a news conference that stockpiling and inventory hedging against year 2000 computer failures could cause worse trouble than the Y2K glitch itself.

-- Uncle Bob (UNCLB0B@Y2KOK.ORG), September 20, 1999

Answers

That's why we are all stockpiling now! Those that wait are going to be caught with their pants down! Let me run this one by you. Maybe businesses don't want you to buy right now because prices are low. They want to snatch you in their web when the prices are higher and a bigger profit margin for them. Cha Ching, Cha Ching.

-- cha ching (cha ching@chachinggg.com), September 20, 1999.

Y2K Cash Computer

BTW - I never heard from any New Zealand folks about the introduction of new polymer bills during rollover. (on a previous thread) I would still be interested in hearing from any NZ folks whether this has been in the works for a long time, and how they plan to handle the old and new currencies being in circulation at the same time.

-- Linda (lwmb@psln.com), September 20, 1999.

This $99 billion does not exist in tangible form.

Banking is a confidence game.

There will be explosive anger when the depositors learn they can not retrieve their entire deposits in cold cash.

Then expect to see the biggest credit charge surge in history!

-- Randolph (dinosaur@williams-net.com), September 20, 1999.

Maybe some of the traffic here could be reduced if we just *linked* to Gary North's forum for our news?

-- Flint (flintc@mindspring.com), September 20, 1999.

We've both been making a lot of typo's lately Flint, I'm sure you meant "slinked to" ....or maybe "blinked to "... ya think?

-- Michael (mikeymac@uswest.net), September 21, 1999.

Based on that link to bank shortages, above, I think I'll move my cash withdrawal plans up a touch.

Maybe I'll withdraw half my cash now, and the other twenty bucks in December...

Al

Really, folks, run a few scenarios on it. It's not too reassuring.

-- Al K. Lloyd (all@ready.now), September 21, 1999.

Just re polymer bills in New Zealand, I think we did something similar a few years ago. Previously, our money had been paper like your American money- then they changed over to plastic notes. Indestructible, but ugly as hell- they look like food wrappers or something. Anyway, our changeover just involved the new notes being introduced simultaneously with the old ones being withdrawn, both being fully legal tender.

Leo

-- Leo (lchampion@ozemail.com.au), September 21, 1999.