$6 Trillion in Fake Treasury Notes

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[ARCHIVED THREAD] - $6 Trillion in Fake Treasury Notes

Posted: 2/17/2012 6:08:52 AM EDT

POTENZA, Italy — Italian police said on Friday they had seized about $6 trillion of fake U.S. Treasury bonds in Switzerland, and issued arrest warrants for eight people accused of international fraud and other financial crimes.

Here

Posted: 2/17/2012 6:10:18 AM EDT

[#1]

That's...alot.

Posted: 2/17/2012 6:13:06 AM EDT

[#2]

Uh, $6T?

Posted: 2/17/2012 6:15:19 AM EDT

[#3]

Somebody was obviously headed to the strip club and was going to make it rain on an epic scale.

Posted: 2/17/2012 6:15:37 AM EDT

[#4]

Quoted:
Uh, $6T?

Go big or go home I guess

Posted: 2/17/2012 6:17:20 AM EDT

[#5]

With the way this government prints money I think we can call this a case of "small time" counterfeiting.

Posted: 2/17/2012 6:17:46 AM EDT

[#6]

That's what about $100 mil after you adjust for inflation?

Posted: 2/17/2012 6:17:53 AM EDT

[#7]

Quoted:
That's...alot.

Have to split it 8 ways, it's not that much

Posted: 2/17/2012 6:19:58 AM EDT

[#8]

Quoted:

Quoted:
That's...alot.

Have to split it 8 ways, it's not that much

Its 1/3 of the national debt, yea thats alot. Makes me wonder how much of this goes on worldwide.

Posted: 2/17/2012 6:23:17 AM EDT

[#9]

What is it with US $ and Italy?

From 2009

Posted: 2/17/2012 6:24:18 AM EDT

[#10]

Wasn't there something a few years ago about some Japanese men caught with bearer bonds...

a little searching turned this up, circa 2009.

$135 Billion bearer bonds

Posted: 2/17/2012 6:24:57 AM EDT

[#11]

Holy shit.

Posted: 2/17/2012 6:25:39 AM EDT

[#12]

Give those phony notes to the OWS types. They want free money, fine. Here's some treasury notes. The fact they can't lawfully cash them in is irrelevant. Get what you earn.

Posted: 2/17/2012 6:26:19 AM EDT

[#13]

I guess the Eurozone will won't get its bailout after all.

Posted: 2/17/2012 6:27:26 AM EDT

[#14]

How else are we supposed to pay off our debt?

Posted: 2/17/2012 6:43:31 AM EDT

[#15]

It was part of Obama's economic plan. Foiled again!

Posted: 2/17/2012 6:44:51 AM EDT

[#16]

Putting that kind of money into the economy with no real value to back it up causes inflation and devaluation of our currency.

Only the Federal Reserve should have the right to do that.

Posted: 2/17/2012 6:44:57 AM EDT

[#17]

Quoted:
Somebody was obviously headed to the strip club and was going to make it rain on an epic scale.

Pics or it wasn't about to happen

Posted: 2/17/2012 6:46:33 AM EDT

[#18]

They were probably worth about the same as real US Treasury notes....

I'm just saying.

Posted: 2/17/2012 6:57:20 AM EDT

[#19]

These guys would be a shoe in for a job at the Federal Reserve

Posted: 2/17/2012 6:58:57 AM EDT

[#20]

You could buy a lot of lottery tickets with that.

Posted: 2/17/2012 7:03:24 AM EDT

[#21]

Quoted:
That's...alot.

Understatement of the year.

Shit ton may be better.

Posted: 2/17/2012 7:07:29 AM EDT

[#22]

I bet if I tried to deposit $30 billion in fake cash at my bank no eyebrows would raise.

What were these guys thinking?

Posted: 2/17/2012 7:13:22 AM EDT

[#23]

Where does one sell such a Bond?

Posted: 2/17/2012 7:14:12 AM EDT

[#24]

Well, according this article: http://www.bloomberg.com/news/2012-02-17/italy-police-seize-6-trillion-of-fake-u-s-treasury-bonds-in-switzerland.html

The U.S. embassy in Rome has examined the securities dated 1934, which had a nominal value of $1 billion apiece, they said in the statement.

Huh? There weren't $6 trillion in bonds available dated in 1934, not to mention I don't think the government has ever issued bonds with a maturity date of more than 30 years, meaning even if they were real they'd basically be worthless, right? Something about this doesn't add up...

Posted: 2/17/2012 7:17:18 AM EDT

[#25]

Quoted:
With the way this government prints money I think we can call this a case of "small time" counterfeiting.

At the rate the presses are running QC on those bonds has to go down enough they have trouble telling the real from the fakes.

Posted: 2/17/2012 7:21:37 AM EDT

[#26]

So let's say the deal worked and someone managed to sell $6T in fake bonds to some rich idiots. How long do you have before the hit man catches up with you? I'm betting folks who buy things worth billions will not take kindly to being scammed.

Posted: 2/17/2012 7:28:09 AM EDT

[#27]

Nobody would be dumb enough to buy bonds, fake or real, that were dated from 1934.

Furthermore, the article above says:

The individuals involved were planning to buy plutonium from Nigerian sources, according to phone conversations monitored by the police.

I'm pretty sure that Nigeria doesn't have the capability to produce Plutonium.

Posted: 2/17/2012 7:31:52 AM EDT

[#28]

Quoted:
Nobody would be dumb enough to buy bonds, fake or real, that were dated from 1934.

Furthermore, the article above says:

The individuals involved were planning to buy plutonium from Nigerian sources, according to phone conversations monitored by the police.

I'm pretty sure that Nigeria doesn't have the capability to produce Plutonium.

Fake money for fake plutonium. Winners!

Posted: 2/17/2012 7:34:50 AM EDT

[#29]

Quoted:
Nobody would be dumb enough to buy bonds, fake or real, that were dated from 1934.

Furthermore, the article above says:

The individuals involved were planning to buy plutonium from Nigerian sources, according to phone conversations monitored by the police.

I'm pretty sure that Nigeria doesn't have the capability to produce Plutonium.

New Nigerian email phishing scam?

Posted: 2/17/2012 7:37:50 AM EDT

[#30]

Quoted:

Quoted:
Nobody would be dumb enough to buy bonds, fake or real, that were dated from 1934.

Furthermore, the article above says:

The individuals involved were planning to buy plutonium from Nigerian sources, according to phone conversations monitored by the police.

I'm pretty sure that Nigeria doesn't have the capability to produce Plutonium.

Fake money for fake plutonium. Winners!

Are there people that stupid in the world?

Really?

Posted: 2/17/2012 7:38:06 AM EDT

[#31]

Quoted:
Well, according this article: http://www.bloomberg.com/news/2012-02-17/italy-police-seize-6-trillion-of-fake-u-s-treasury-bonds-in-switzerland.html

The U.S. embassy in Rome has examined the securities dated 1934, which had a nominal value of $1 billion apiece, they said in the statement.

Huh? There weren't $6 trillion in bonds available dated in 1934, not to mention I don't think the government has ever issued bonds with a maturity date of more than 30 years, meaning even if they were real they'd basically be worthless, right? Something about this doesn't add up...

Were these guys out of the Phillipines?

There's an offshoot of the Yamashita's Gold scam where someone claims to have found one of these bonds, usually in a suitably weathered leatherette case...

G