-Caveat Lector-
On Tue, 14 Dec 1999, Edward Britton, believing the sky will fall, wrote:
>1. Remove any cash assets from your checking accounts and be sure to obtain
>an electronic statement clearly indicating your checking and savings
>balances prior to 12-20-99. Store large amounts of cash in several secure,
>readily accessible locations.
That is, if you aren't mugged by all the savvy crooks who know how
foolish people will follow this advice and be carrying large amounts of
cash on themselves when they leave the bank...
And if you succeed in getting home without being mugged and losing your
life's savings in the process, pray that your hiding place is fireproof
and floodproof, and that you don't experience either disaster before
retrieving your stash...
And then sit back in your barcolounger, secure in the fact that your
actions -- along with a million or so other Chicken Littles, -- will help
bring about the very thing you fear...
The rest of us know that banks, as an industry, were one of the first to
become compliant, and even in a worse-case scenario, we will be able to
physically walk into the local branch of our bank on January 3rd and
present a demand deposit writ to the teller, and walk out with cash in
hand...
>2. If practical, liquidate stocks, bonds and any other financial
>instruments on or before the first sign of market instability. Whether you
>invest in the market or not, monitor market activities very closely for the
>remainder of this year.
Again, if everyone follows this advice, they will actually bring about
the very thing they fear...
Wall Street, like banks, has been compliant for a long time...
>Feel free to add whatever I haven't thought of to this list and pass it on
>if you consider it appropriate.
No...I, unlike you, will NOT be crying 'Fire!' in a crowded theater, when
there is no fire....
June ;-)
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