All data gone on My Book Studio II

I reckon that the Time Machine software scripting in Mavericks has a bug in it, that causes it to start again and make a brand new Time Machine record.

According to an Apple support statement:  "Time Machine is a backup utility, not an archival utility, it is not intended as offline storage.

In other words if Time Machine fails, you should still have all your original data in it’s proper place. 

You do, don’t you?

I don’t understand why several folk are panicking over this issue!!!