Re: TI-H: Re: y2k


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Re: TI-H: Re: y2k




well think about this way...
if the bank system did crash then they'd owe us money
becuase they wouldn't be able to pay it off.  and by
the time everyone puts their money back into the bank
we'll be rolling in dough

--- RoniBarrett@aol.com wrote:
> 
> In a message dated 12/29/1999 6:40:23 PM Eastern
> Standard Time, 
> dknaack@rdtech.com writes:
> 
> << How about this...  The American banks lend out
> better than 90% of
>  the dollars that they have deposited, and the vast
> majority of the
>  US money supply is 'virtual', existing only as bits
> in a computer.
>  If even 5% of the population withdraws all their
> cash over New
>  Years, the entire banking system will collapse, and
> the remaining
>  95% of the money will vanish without a trace.  Of
> course, so will
>  all debts and credit records.
>   >>
> Thats the only thing that scares me. Anyone read
> about the Great Depression? 
> How about the bank panics (1837, 1857, 1873, 1884,
> 2893, 1907, 1982)? Same 
> thing happened every time, but instead of bits in a
> computer, most of the 
> money was numbers on paper. With i dont know how
> many million people draining 
> their bank accounts because theyve never heard of
> implied $100000 account 
> insurance or microfilm, my money, and the money of
> millions of other sane 
> people, will be in the bank, but tottally
> inaccessabe, because all the cash 
> in the nation is stuffed under the mattresses of the
> 5% that paniced.
> 
> Jeff Barrett
> 
> 


=====
BYuCnslr
:-)
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