This is my personal belief based on numerous articles read and hours of thinking. Y2k awareness is on the rise and people will be waiting for the first panic event to pull out their money from the banks. I personally believe, that this event will be in the first week of December 99 because we will be receiving our last pay check(!!) in this week. So every person who goes to the bank to withdraw money, will also clean up his bank account therby triggering a massive cascading bank runk. This is in turn will affect the stock market finally pulling it down. Any comments on this. Anyway i am waiting for December 1st week??

-- srinivas (srini2069@hotmail.com), October 29, 1999

Answers

I find it fascinating how ALL of the prognostications to date have been wrong. The only reason I think a bank run possible is because the FED is prepared for one, (well also the polls report that a significant percentage of those polled have STATED that they will "take a little extra" out of the bank in preparation).

It would not at all be surprising, however, given how fat and sassy we Americans are, that we procrastinate our way into the next year with no "extreme" reaction whatsoever.

Therefore, the bank runs, retrenchment of the stock indexes, and empty grocery shelves will only occur when a MAJOR computer failure effects a significant number of individuals and THEN they run. To put it another way, people won't move unless their arse is on fire. But smelling the smoke won't be enough, they must feel the HEAT and that may not happen until after January 1. (The remote and the brew appear to be working the appropriate effects).

Here's to hoping all of my preparations are for nought! (In the meantime, I need a few more things, just in case, so if Joe wants to watch the next show before heading down to the store...)

Please remember your neighbors, because they are sure to remember you.

-- Vito Barbieri (BarbieriV@aol.com), October 30, 1999.

A Canadian Bank reportedly is saying no extra withdrawals after December 8 (get your Y2K withdrawals in early). If that hits the news (on the evening of the 9th), there could be panics around the 10th in the US.

-- Mad Monk (madmonk@hawaiian.net), October 30, 1999.

What makes you think that the majority of people get paid on the first of the month? I don't.

-- marsh (armstrng@sisqtel.net), October 30, 1999.

Most of us don't have that much to take out of the bank...need every thing to pay current bills. We are just trying to stay current with creditors. At what point do you say "We will take the money out, and not pay the current bills?" Also, what denominations do we get the cash in? Any thoughts?

-- David Roberts (ggrcalif@msn.com), October 31, 1999.

One Canadian Savings Institution, First Calgary Savings, has already announced that it may not service cash withdrawals after Dec 8. So the first and second weeks of December will probably be the panic- start-off period. So it is better not to plan on withdrawals after this period.

-- Parthasarathy Srinivasan (psrinivasan99@yahoo.com), November 01, 1999.

Can someone point me to a web page that documents that First Calgary Savings won't be honoring withdrawals after a certain date?

-- Barbara Bull (barbara.bull@ alltel.com), November 04, 1999.

The Link can be found on Gary North's site. Just click through to the link to the bank's web page from there.

http://garynorth.com/y2k/detail_.cfm/6640

-- Kimberly Hott (k_hott@hotmail.com), November 04, 1999.