A sobering article on the banking system and your assets

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Covering your ASSets

-- Rainman (Rainman@uh-oh.com), November 13, 1999


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(Now, this ought to really get the pollies frothing. Nothing, but nothing, gets them worked up like articles that have to do with banking. Especially if they imply that your money isn't so safe in a bank after all.)

-- King of Spain (madrid@aol.cum), November 13, 1999.

Wow. I just had a thought.

Every year around this time "It's a Wonderful Life" is shown on TV over & over & over & over & over.

The big dramatic scene in this film (apart from the almost-suicide) is... a bank run.

Might have some added significance this time, eh?

-- big fan (of@ji-ji-jimmy.stewart), November 13, 1999.

"confidence is suspicion asleep"

I am again reminded of the old Navaho proverb, "You cannot awaken someone who is pretending to be asleep".

-- tc (trashcan-man@webtv.net), November 13, 1999.

Got cash? (WIthdraw early and withdraw often.) If you're number 3 or further back in a line of 100 that wants all their money, you're S.O.L.

-- A (A@AisA.com), November 14, 1999.

The official UK governent Y2K booklet has a large font header that says, and read this very carefully: "Your money is as safe in the bank as it's always been." Frankly, I'm shocked that they're being so honest.

Note that the Bank of England has printed more money and postponed destruction of bank notes this year to the tune of an extra thirty billion pounds, bringing to total in circulation to fifty billion, as opposed to a mere twenty eight billion on a normal festive season (and much, much less than mid-year). Applause for them being so sensible. I hope it's enough.

-- Colin MacDonald (roborogerborg@yahoo.com), November 14, 1999.

this old quote seems to be more appropriate each day:

"My friends," began the easy Rooseveltian voice in countless homes, "...when you deposit money in a bank, the bank does not put the money into a safe deposit vault. It invests your money, puts it to work...What, then, happened? There was a general rush, so great that the soundest banks could not get enough currency to meet the demand...It was then that I issued the proclamation providing for the nationwide bank holiday...

"There is no occasion for worry. The banks will take care of all needs--except of course the hysterical demands of hoarders. When people find they can get their money, the phantom of fear will soon be laid. I can assure you it is safer to keep your money in a reopened bank than under the mattress." Time, March 20, 1933

-- clayton (ratchetass@hotmail.com), November 14, 1999.

Just got my bank's Y2K disclosure today. All of the same govt stuff with one exception, the bank says to take out enough money to cover a long holiday weekend. But other than that Y2K is fixed! Sounds pretty fishy to me.

-- ExCop (yinadral@juno.com), November 15, 1999.

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