Free Kiwi
Updated Dow plot - 23-10-1998
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http://www.golden-eagle.com/gold_digest_98/murphy102398.html
remember to take out the "en" in "golden"
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On another point...... saw a video called "The Gulf War", the story of American Government deception concerning chemical weapons and the "inadvertent" pollution of American Forces personnel during the war, follwed by Government "cover up" and the denial of rights to the Veterans.
Is there real basis to the movie ?
if so, then a Government "cover up" on the financial front would be childs play !
Och aye the noooooooooooo..........
Haggis
IE: Should you have your brokerage send you the stock certificates ( of
the stocks you intend to hold long-term ) and continue to act as a shell account??
Pros and Cons???
always jumping to worst case scenarios.
On the subject of embedded chips I have this observation. If the original problem bug was due to conservation of costly hard drive space
why then would embedded chips utilize any year dependent timing at all.
My background is as an electrician and for example time clocks used to turn virtually anything on/off do not have to have year/date capability unless an owner/occupant wishes holiday programing, otherwise 7 day programing proceeds just fine to infinity. So how many embedded chips
have the ultimate space saver of continous 7 day week programming. I mean if we are talking about efficiency assume any mining equipment has
a manual/master on and then other ( embedded control chips ) automate the remaining processes when asked for. Seems reasonable or plausible to me.
Another question I would ask. I understand the signifigance of the bug to PCs and hard drives as the erroneous computation of date blows its mind so to speak, but when we speak of embedded chips are not their "minds"
so much less & thus less susceptible to being blown?
I have on these forums previously described myself as a Y2K 9, but I am of late turning to more of a middle of the roader, a 6.
Another reason for this turn is that I believe we repeatedly see the
whipping of the public mind for the profit advantage, and right now that advantage is definitely on the side of those who would promote the most dire of circumstances.
My son attends Tennessee Tech University and they held a Y2K symposium on solutions to problems from the computer engineering department, and while the time factor and labor shortages were still
seen to be a problem.The technologies of fixing, by-passing in manual modes, paralleling with new portable- even laptop computers and many other solutions are being looked at and developed at a pace that gave this former doomer & gloomer much hope.
Bottom line there will disruptions, but at this point in time it is unknown by anyone to what extent, and I feel it is very incumbent on those who wish to carry the banner of forewarning to at least carry an even hand, avoid topics that are not conclusive, shun rumor, and as we approach 1/01/2000 keep in mind some positive news developments will need dissemination as vitally as accurate reporting of the laggards.
The availability of currency is something every American takes for
granted. Currency is "the" medium of exchange which facilitates
virtually 100% of all buying and selling activities. A functioning
currency system enables our high standard of living. Without a
functioning currency system, we must increasingly depend on "barter",
which detracts from our ability to maintain a high standard of living.
Since the 1930s, the U.S. Dollar has performed the role of the world's
reserve currency. People, companies, and governments across the globe
trade in U.S. Dollars due to their high degree of collective
confidence in the ongoing stability of U.S. Government. This global
U.S. Dollar-based trading activity fuels a huge demand for U.S.
currency outside of our national borders. As a result, the Federal
Reserve estimates that 60-70% of $450 billion of U.S. banknotes
presently in circulation is held offshore.
The Federal Reserve recently proclaimed that it is furiously
increasing the pace of U.S. banknote production in anticipation of
Y2k-related demand. The official proclamation by the Federal Reserve
is that $200 billion in U.S. banknotes will be on standby alert, ready
to swing into action if our checking and credit card accounts falter
due to Y2k-related problems. This is significant news in and of
itself, but it is important to note that this $200 billion in currency
reserves cannot be increased due to production limitations. There are
only so many printing presses in existence and only so many hours in
the day to operate them.
This brings us to the Final Jeopardy question: "What will prevent a
significant portion of this $200 billion in additional U.S. banknote
supplies from migrating to the various corners of the world?"
The only serious competition to the U.S. Dollar as the world's reserve
currency is the new Euro, and it will not even begin to pose a serious
threat for at least several years. As long as the U.S. Dollar retains
its role as the world's reserve currency, we would logically expect
this U.S. Dollar "migration" to occur just as quickly as the new U.S.
banknotes are placed into circulation. This overlooked phenomenon
will shoot a big hole in the Federal Reserve's plan to shore up the
currency defenses domestically and leave us Americans quite vulnerable
to a shortage of U.S. banknotes in the wake of Y2k-related
withdrawals. Once the commanding officers at the Federal Reserve
realize what is happening, they will have no choice but to impose
rationing on U.S. banknote withdrawals which could heighten the sense
of Y2k panic and increase the severity of a recession.
Did I say recession? Yes, there now appears to be one on the horizon,
completely unrelated to Y2k. Combined with the anticipated Y2k
slowdown this will invariably result in cautious business and consumer
behavior and a decline in the "velocity of money."
Simply put, "velocity of money" is the rate at which money circulates.
In times of caution, there will be fewer buying and selling
activities as a whole. Money will not change hands as rapidly. As a
result, there will appear to be less money in circulation. Think of
"velocity of money" as a monetary wind-chill factor. Just like a
strong January wind can make the effective temperature much colder
than what the thermometer shows, a slowdown in the velocity of money
can make the real economy much colder than what the typical economic
barometers may otherwise indicate.
Since "money" is a rather broadly defined concept encompassing
currency, checking account balances, credit card balances, marketable
securities, and precious metals, withdrawals of U.S. banknotes from
the banking system in anticipation of major Y2k-related problems could
contribute to the slowdown in the "velocity of money" and possibly
heighten the economic contractions already in place.
Now is the time to start adding U.S. banknotes to your arsenal. Your
mission should be to gradually build a U.S. banknote reserve equal to
3 months of net income. Take withdrawals in $10.00, $20.00, $50.00
and $100.00 denominations, unless you have a lot of room to store
$1.00 and $5.00 bills. Most importantly, understand the reporting
rules on currency withdrawals. A $10,000 withdrawal will get you on
the IRS watch list, as will two or more closely-bunched withdrawals
totaling $10,000. Plan to have your U.S. banknote reserves in place by
3-31-99, because the lines at the teller windows and ATM machines
aren't likely to be getting any shorter.
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Copyright © 1996 Kitco Minerals & Metals Inc.
I meant what I said and I said what I meant.
The Dead Letter Box is repugnant. Its use has been the hallmark of repressive regimes of a hundred shades: Communism, fascism, monarchies, priesthoods, organised crime, and witch hunts all are fuelled by Dead Letter Boxes. It breeds mistrust and stokes vendettas.
What's your point?