I read somewher that the Treasury Department is working overtime to print extra dollars in an attempt to cover a bank run. Can anyone veryify this?

-- Francis Thomas (fflippen@hotmail.com), December 02, 1998

Answers

See TechWeek

http://www.techweek.com/articles/11-2-98/countdow.htm

-- Diane J. Squire (sacredspaces@yahoo.com), December 02, 1998.

Yup......there's lots of threads on this one.

Seems to me that 50 billion dollars is the actual figure.

However, that's just a drop in the bucket if bank runs were to start. So obviously the strategy is for the gov. to provide "education" to ensure the sheeple that all is well and therefore it is not necessary to keep any of this extra cash they are printing on hand.

If the cash starts being withdrawn in any quantity, watch for regulations/restrictions being made as to how much cash you are allowed to withdraw and/or spend. Already, legislation is being made by the FDIC which requires banks to report to them any variation from normal deposits/withdrawals by any of its customers. This in itself may make people afraid to withdraw cash lest they be reported to the government and have an 'anti-American' notation slapped on their file.

Of course, it is also hard to provide many viable alternatives for the gov. when they are pressed with a potential bank run scenario. You can be assured that they will not simply stand by and let it happen without a fight.

-- Craig (craig@ccinet.ab.ca), December 02, 1998.

When it begins, the federal government will close the banks until they have asserted control over the situation.

-RC

-- Runway Cat (runway_cat@hotmail.com), December 02, 1998.

Lets see...22000 (population of Sylvester, GA) divided by 4 (persons/family) times $100 (estimated Dec. monthly bill) = $550,000.00.

Hmmmm...either your surmise is correct or there's some awesome Christmas spirit going around...

-- a (a@a.a), December 02, 1998.

oops, wrong thread!

-- a (a@a.a), December 02, 1998.