From: Sean Roach <roach_s@alph.swosu.edu>
Date: Fri, 19 Sep 1997 13:04:25 +0800
To: cypherpunks@Algebra.COM
Subject: Re: Preparing the Remnant for the far side of the crisis
Message-ID: <199709190450.AAA11575@www.video-collage.com>
MIME-Version: 1.0
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At 12:34 PM 9/18/97 -0600, Jim Burnes wrote:
>
>
>
>On Thu, 18 Sep 1997, Robert Hettinga posted:
>(and someone else wrote)
>
>> >
>> >     In 1999, chaos will hit the financial markets, all over the world --
>> >assuming that this does not happen earlier, which I do not assume.  The
>> >public will know the truth in 1999: THE DEFAULT ON U.S.
>> >GOVERNMENT DEBT IS AT HAND.  The tax man won't be able to
>> >collect in 2000.  The tax man will be blind.  Consider how many banks
>> >and money market funds are filled with T-bills and T-bonds.  Consider
>> >how the government will operate with the IRS completely shut down.
>> >Congress hasn't thought much about this.  Neither has Bill Clinton.
>
>Two words,
>
>"Sell Bonds!"
>
...
Three more words.
"Buy Precious Metals!"
With the stakes of companies relying on bonds, and other companies using
those stocks as collateral themselves, I'm expecting a good ole fashioned
crash.  Nothing that is not tangible will do.