November 26, 1999

A USA Today poll, out this week. reports that a large percentage of Americans remain concerned about the Y2K computer bug set to hit when the year ends on December 31.

According to the USA Today poll:

25 percent of Americans plan on withdrawing "large amounts of cash before years end;

13 percent said they will purchase a back-up generator or wood stove;

19 percent are concerned nuclear power or military systems will go haywire;

28 percent expect some failure of 911 and emergency response systems;

22 percent expect hospital and medical system failures.

While the numbers show that Americans are slightly less concerned about the Y2K bug than they were a year ago, the percentage of Americans fearing the worst remains high.

With just a little over a month to go until the Y2K D-Day, news continues to surface that wont help relieve Y2K jitters.

**Canadian federal authorities announced this week that their Y2K "command center  also referred to in the Canadian press as "the bunker  is ready to go. Canadas National Contingency Planning Group said the bunker will be operational from December 29 to January 7.

The bunker, outfitted with computers and satellite phones, will serve as a nation-wide communication center in the event of telephone or power failures around the nation. A staff of 250 is already prepared to monitor Y2K problems, including Canadas banking system.

**The U.S. Department of Energy announced this week that it is prepared to sell crude oil from the nations Strategic Petroleum Reserve. Some experts say the U.S. took the action just in case the Y2K bug causes pipeline or shipping problems and disrupts the flow of imported oil.

**In Chicago, the Sun-Times reports that Mayor Richard Daley is angered about a memo sent from the Chicago police superintendent to his police officers. In the memo, the police superintendent recommended that his departments 17,000 employees stock up on food, water and other essentials. The memo recommended a two-week supply of water for each member of the family.

-- samIam (dr@seu.ss), November 26, 1999

Answers

On a side note, when I cashed my cheque the other day and requested 500 big ones, the teller asked me if I wanted 'cash' (true story).

"Do you want that in cash" he said. "Sam I am, need some spam to feed the fam." I replied (not so true story)....

-- samIam (dr@seu.ss), November 26, 1999.

Was at bank Wednesday. Told teller I had read that if someone wanted to withdraw an abnormally large sum they would be "counselled" by one or more staff. "Is this true?" "Yes," she says, "Your money is safest here in the bank, not piled up somewhere at home."

"So if I wanted $5000 you would ask me what it's for?"

"Yes, I would say, is this because of the year 2000 computer problem?"

"You would ask me what it's for????"

Makes me want to do it just to tell her [and these are my friends and acquaitances - small town] I'm taking it somewhere where they don't ask me what I'm doing with my money.

-- Becky (rmbolte@wvadventures.net), November 26, 1999.

Hi samIam, thanks for the post. USA Today are going to incur the Wrath of Klinton if they keep that up. See also their preparation articles here article and here. While it's nice to get a different (honest?) view, they really need to think about the consequences of feeding a panic spiral.

Becky: Remember that banks have a responsibility to protect the money of all of their customers, and that your withdrawal could be the one that starts a bank run. Now that I've put their side of it, my honest opinion is: do it! If you have concerns about being able to access your money, either get it out of there, or at least spread it around a few other banks.

Warmest regards,

-- Colin MacDonald (roborogerborg@yahoo.com), November 26, 1999.

Now it is (I hope )

-- Ryker (ryker@soybean.chat), November 26, 1999.

Sam - Last week I cashed a check for $3500.00, It took 20 mins, the Teller asked with incredulty, "You want it all in cash?" she had to leave the window to go get more. It was Twilight Zone Banking. Unreal.

-- eerie (karlacalif@aol.com), November 26, 1999.

The permeating thought of our money--being taken in masses from their banks is causing panic in them.

Their panic is based on the thought what if.........

-- d----- (dciinc@aol.com), November 26, 1999.