Art's   Opinion of the Year 2000 & Computers

by Art  Arbutine

YEAR TWO THOUSAND
Unless you have been living under a rock, you have heard about the possibility of a great computer glitches that could cause widespread pandemonium, starting 1 January 2000.

It's almost a sure thing that some computers will malfunction with the new century, but I don't see it being the end of the world. People are hearing and reading about the projected panic and complete disruption of our banking system. I'm writing this in July 1998, about a year and a half away from the year 2000. As a full-time coin dealer I receive many calls from people interested in buying silver and gold coins to get them through the barter period that they think will occur in January 2000. If they want to buy gold and silver I sell it to them. In the long run it should be a good investment, anyway, and I firmly believe everyone should have some gold or silver where they could get their hands on it on very short notice. Read my comments on this subject in INVESTING IN PRECIOUS METALS, on this web site.

If people ask my opinion, I tell them to expect some problems in the short term. Don't plan any travel right after new year 2000 till after you see that the situation is normal. Just to play it safe, it would be a very good idea to tap your bank account for a couple thousand dollars, depending on your lifestyle, between Christmas and new years eve. As for buying silver dimes for a barter system, get real! Do you think that merchants will not take greenbacks for goods and services? Come see me the first week in January 2000. I guarantee you that I'll take your paper dollars.

If anything, the expected panic or at least uneasiness will probably cause a temporary but dramatic rise in gold and silver. Once people see that they don't need silver and gold for barter it will drop right back to normal levels. My attitude towards this whole Y2K situation is amusement and not concern, and I don't expect to be changing my mind. If you have comments on this, call or E-Mail.

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