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That's why I mentioned converting cash and securities to commodities,
specifically precious metals - but it was intended as a joke, you know.
IMO, the Y2K problem receives far more attention than its true danger
merits.
-----Original Message-----
From: RAY RAFFURTY <rraff@xxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Tuesday, October 20, 1998 7:19 PM
Subject: Re: My take on Y2K impact?
>Sorry to tell you this, but converting to cash will not be enough. You
will
>have to use gold coins. All new U.S. paper currency has a micro-chip in
the
>security strip. To save money the Treasury used old technology (2 digit
>dates) in this chip. On Jan 1, 2000 all of this currency will scan as
>counterfeit {;-)
>
> Good luck and good trading,
> Ray Raffurty
>
>
>-----Original Message-----
>From: Szilassy <szilassy@xxxxxxx>
>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>Date: Tuesday, October 20, 1998 6:28 PM
>Subject: Re: My take on Y2K impact?
>
>
>>Remember the old Rolaids question, which was always answered during their
>>30-second spots? It went something like this:
>>
>>Commentator: "HOW DO YOU SPELL HYPE?"
>>
>>Satisfied customer: "I spell HYPE Y-E-A-R-2-0-0-0."
>>
>>Honestly though, isn't 75% a little conservative? I prognosticate that
the
>>markets will cease to exist. But it won't stop there. The populace will
>>lose their trust in banking institutions and insurance companies - they
>will
>>stage a run on the banks and cancellation of all insurance premiums,
>>bankrupting all banks and insurance companies, along with reinsurance
>>companies, and causing even non-callable loans to be called, thereby
>>bankrupting businesses and individuals en masse. Their inability to pay
>>will in turn bankrupt their suppliers, which will ultimately bankrupt the
>>government and result in anarchy, mass pillaging, and a return to life in
>>the barren wilderness for anyone seeking a measure of safety.
>>
>>I suggest relocation to an uninhabited island in the South Pacific and
>>conversion of all cash and securities into commodities as soon as
possible,
>>so that you can survive this upcoming desperate period with some measure
of
>>dignity.
>>
>>Paul
>>-----Original Message-----
>>From: Frank Thompson <fthompso@xxxxxxx>
>>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>>Date: Tuesday, October 20, 1998 1:41 PM
>>Subject: Fw: Y2K impact?
>>
>>
>>>I am predicting an historic downturn in the market sometime between July
>>and
>>>December 1999. I also believe that the ability to correct most of the
>>>problems exists but I don't feel that investors will gamble with their
>>>investment money. I believe that at least 75% of EVERYONE will be in
cash
>>>on December 31, 1999.
>>>
>>>Frank
>>>
>>>
>>>-----Original Message-----
>>>From: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
>>>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>>>Date: Tuesday, October 20, 1998 2:30 AM
>>>Subject: Re: Y2K impact?
>>>
>>>
>>>>Although this looks impressive and I am taking some prudent precautions
>>>>myself, this reminds me of the oil fires in Kuwait after the gulf war.
>>Some
>>>>experts said that the fires would burn for years causing tremendous
>damage
>>>>to the ecology of the whole planet. It was solved in less than a year as
>I
>>>>recall. Seems that some always underestimate man kinds resolve to get a
>>job
>>>>done. I don't want to get into a re-hash of this long a controversial
>>>>subject but I do think that there will be some problems.
>>>>
>>>>Brent
>>>>
>>>>----------
>>>>> From: Mark Jurik <mgj@xxxxxxxxxxxx>
>>>>> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>>>>> Subject: Y2K impact?
>>>>> Date: Monday, October 19, 1998 11:17 PM
>>>>>
>>>>> What effect will Y2K have on the markets?
>>>>>
>>>>> Here's a collection of report summaries posted elsewhere.....
>>>>>
>>>>> - Mark Jurik
>>>>> ----------------------------------------------------------------------
-
>-
>>>>
>>>>> ----------------
>>>>> The Social Security Administration has 30,000,000 lines of code to
fix.
>>>>> Four hundred programmers have been working on the problem since 1991,
>>and
>>>>
>>>>> had only fixed six million lines after five years of effort. The
>>>>Washington
>>>>> Post
>>>>
>>>
>>>
>>>
>>>
>>
>
>
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