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Posted: 6/17/2009 12:12:42 PM EDT
this came straight off my bloomberg terminal, it will hit the website in a few, so for now, no linky. of course the treasury is going to say they're fake. lol. 
By Vincent Del Giudice June 17 (Bloomberg) –– U.S. government bonds found in the false bottom of a suitcase carried by two Japanese travelers attempting to cross into Switzerland are fake, a Treasury spokesman said. “They’re clearly fakes,” said Stephen Meyerhardt , a spokesman for the U.S. Bureau of the Public Debt in Washington. “That’s beyond the fact that the face value is far beyond what’s out there.” Italy’s financial police last week said they asked the U.S. Securities and Exchange Commission to authenticate the seized bonds, with a face value of more than $134 billion. Colonel Rodolfo Mecarelli of the Guardia di Finanza in Como, Italy, said they were probably forgeries. Meyerhardt said Treasury records show an estimated $105.4 billion in bearer bonds have yet to be surrendered. Most matured more than five years ago, he said. The Treasury stopped issuing bearer bonds in 1982, Meyerhardt said. Had the notes been genuine, the pair would have been the U.S. government’s fourth-biggest creditor, ahead of the U.K. with $128 billion of U.S. debt and just behind Russia, which is owed $138 billion. The bonds were seized in Chiasso, Italy. |
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Posted: 6/17/2009 12:14:28 PM EDT
[#1]
Interesting.
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Posted: 6/17/2009 12:14:37 PM EDT
[#2]
cover up by the kenyan commie?
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Posted: 6/17/2009 12:17:01 PM EDT
[#3]
GM bonds US bonds all bad
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Posted: 6/17/2009 12:17:02 PM EDT
[#4]
even if they were real by issuing this statement they have now eliminated $134.5 Billion in debt.
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Posted: 6/17/2009 12:18:02 PM EDT
[#5]
Quoted:
even if they were real by issuing this statement they have now eliminated $134.5 Billion in debt. obummer and the dims can spend that much in seconds. |
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Posted: 6/17/2009 12:18:24 PM EDT
[#6]
<br>my<crap>eyes</morecrap>
</p>Formatting<br>fail</nuts> |
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Posted: 6/17/2009 12:19:27 PM EDT
[#7]
Quoted:
<br>my<crap>eyes</morecrap> </p>Formatting<br>fail</nuts> sorry, fixed. keep getting in trouble with that WYSIWYG editor. |
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Posted: 6/17/2009 12:20:14 PM EDT
[#8]
Quoted:
Quoted:
even if they were real by issuing this statement they have now eliminated $134.5 Billion in debt. obummer and the dims can spend that much in seconds. Disagree. At the current burn rate that would keep them going for almost a week! |
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Posted: 6/17/2009 12:21:54 PM EDT
[#9]
If they were so obviously fake why did it take so long for them to come out and say that?
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Posted: 6/17/2009 12:24:29 PM EDT
[#10]
My North Korean connection is more viable.
My take? These were printed by the North Koreans who were planning on causing similar bonds to be destroyed in Japan, thereby stealing without stealing. |
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Posted: 6/17/2009 12:29:56 PM EDT
[#11]
Quoted:
My North Korean connection is more viable. My take? These were printed by the North Koreans who were planning on causing similar bonds to be destroyed in Japan, thereby stealing without stealing. Why would Japan burn their securities? Based on the fact that the guys got nabbed, I'm going with the DPRK trying to bring down the dollar by making it look like Japan was putting them up for sale. |
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Posted: 6/18/2009 3:56:42 AM EDT
[#12]
bump for the people who missed it
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Posted: 6/18/2009 4:04:05 AM EDT
[#13]
This was covered in the other thread.
The Bonds were printed in 1930's style. WE DIDN'T HAVE $135 BILLION IN DEBT BACK THEN! Of course they are fake! |
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Posted: 6/18/2009 4:06:59 AM EDT
[#14]
Quoted:
This was covered in the other thread. The Bonds were printed in 1930's style. WE DIDN'T HAVE $135 BILLION IN DEBT BACK THEN! Of course they are fake! Interesting. You would think the North Koreans would have done their homework. |
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Posted: 6/18/2009 4:08:17 AM EDT
[#15]
would still like to know why these bozos were trying to get into switzerland.
hot date with a swiss miss? |
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Posted: 6/18/2009 4:09:37 AM EDT
[#16]
Quoted:
Quoted:
My North Korean connection is more viable. My take? These were printed by the North Koreans who were planning on causing similar bonds to be destroyed in Japan, thereby stealing without stealing. Why would Japan burn their securities? Based on the fact that the guys got nabbed, I'm going with the DPRK trying to bring down the dollar by making it look like Japan was putting them up for sale. For those who have not followed the story closely, this is a pretty long running con out of the Philippines. The bonds are just props. They were never intended to fool anyone who has ever seen a US Treasury. The fact that they say "Federal Reserve" right in the bond title would be a HUGE clue to anyone in the bond market since the Federal Reserve has NEVER issued a single bond. |
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Posted: 6/18/2009 4:43:50 AM EDT
[#17]
Quoted:
Quoted:
This was covered in the other thread. The Bonds were printed in 1930's style. WE DIDN'T HAVE $135 BILLION IN DEBT BACK THEN! Of course they are fake! Interesting. You would think the North Koreans would have done their homework. The NorKs are funny. There is a high quality spread there, with pockets of global excellence in a sea of utter buffoonery. It would not surprise me if these "bonds" didn't start life in North Korea. |
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Posted: 6/18/2009 4:50:20 AM EDT
[#18]
I'm believin' the "US Treasury..."
just like the state controlled media... fuck, I don't know whom to believe anymore.... |
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Posted: 6/18/2009 5:09:57 AM EDT
[#19]
Betcha it was made in Iran.
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Posted: 6/18/2009 5:59:49 AM EDT
[#20]
Glenn Beck on it after the top of this hour.
Tune in to a radio near you. 9 Trillion with only 2 Trillion on the books.....  |
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Posted: 6/18/2009 8:08:40 AM EDT
[#21]
That video just caused an anurism
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Posted: 6/18/2009 8:25:59 AM EDT
[#22]
WTF over
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Posted: 6/18/2009 8:34:03 AM EDT
[#23]
That video give me all kinds of warm fuzzies.
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Posted: 6/18/2009 8:58:20 AM EDT
[#24]
Quoted:
Glenn Beck on it after the top of this hour. Tune in to a radio near you. 9 Trillion with only 2 Trillion on the books.....  http://www.youtube.com/watch?v=mO3GpzWfppo
She doesn't have a clue what's going on. Not a clue. |
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Posted: 6/18/2009 9:06:44 AM EDT
[#25]
Quoted:
Quoted:
Glenn Beck on it after the top of this hour. Tune in to a radio near you. 9 Trillion with only 2 Trillion on the books..... http://www.youtube.com/watch?v=mO3GpzWfppo
She doesn't have a clue what's going on. Not a clue. Not really - the guy asking the questions seems like the one without a clue to me, and I'm not sure he actually understands what her job is. If he wants details about what money is being lent to whom, he needs to sophena (sp?) the people who are administering the specific programs, not the Inspector General of the Fed. |
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Posted: 6/18/2009 9:12:12 AM EDT
[#26]
Quoted:
Quoted:
Quoted:
Glenn Beck on it after the top of this hour. Tune in to a radio near you. 9 Trillion with only 2 Trillion on the books..... http://www.youtube.com/watch?v=mO3GpzWfppo
She doesn't have a clue what's going on. Not a clue. Not really - the guy asking the questions seems like the one without a clue to me, and I'm not sure he actually understands what her job is. If he wants details about what money is being lent to whom, he needs to sophena (sp?) the people who are administering the specific programs, not the Inspector General of the Fed. From the Office of Inspector General: The Office of Inspector General (OIG) conducts independent and objective audits, inspections, evaluations, investigations, and other reviews related to programs and operations of the Board of Governors of the Federal Reserve System (Board). OIG efforts promote integrity, economy, efficiency, and effectiveness; help prevent and detect fraud, waste, and abuse; and strengthen accountability to the Congress and the public. The OIG’s work assists the Board in managing risk and in achieving its overall mission to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems so as to promote optimal macroeconomic performance.
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Posted: 6/18/2009 9:14:11 AM EDT
[#27]
And I really really really believe him to.
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Posted: 6/18/2009 9:21:05 AM EDT
[#28]
Quoted: this came straight off my bloomberg terminal, it will hit the website in a few, so for now, no linky. of course the treasury is going to say they're fake. lol. By Vincent Del Giudice June 17 (Bloomberg) –– U.S. government bonds found in the false bottom of a suitcase carried by two Japanese travelers attempting to cross into Switzerland are fake, a Treasury spokesman said. “They’re clearly fakes,” said Stephen Meyerhardt , a spokesman for the U.S. Bureau of the Public Debt in Washington. “That’s beyond the fact that the face value is far beyond what’s out there.” Italy’s financial police last week said they asked the U.S. Securities and Exchange Commission to authenticate the seized bonds, with a face value of more than $134 billion. Colonel Rodolfo Mecarelli of the Guardia di Finanza in Como, Italy, said they were probably forgeries. Meyerhardt said Treasury records show an estimated $105.4 billion in bearer bonds have yet to be surrendered. Most matured more than five years ago, he said. The Treasury stopped issuing bearer bonds in 1982, Meyerhardt said. Had the notes been genuine, the pair would have been the U.S. government’s fourth-biggest creditor, ahead of the U.K. with $128 billion of U.S. debt and just behind Russia, which is owed $138 billion. The bonds were seized in Chiasso, Italy. Because they ARE fake 1) There are only 105BN in bearer bonds out there... 134BN is an impossible number... 2) The US Treasury issues bonds, the Federal Reserve does not.... These bonds say 'Federal Reserve Bond' on them... 3) The dates on the bonds do not match up with the amounts of money - they are way to large for the dates they were supposedly issued on.... |
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Posted: 6/18/2009 9:22:17 AM EDT
[#29]
Quoted: Quoted: Quoted: Quoted: Glenn Beck on it after the top of this hour. Tune in to a radio near you. 9 Trillion with only 2 Trillion on the books..... http://www.youtube.com/watch?v=mO3GpzWfppoShe doesn't have a clue what's going on. Not a clue. Not really - the guy asking the questions seems like the one without a clue to me, and I'm not sure he actually understands what her job is. If he wants details about what money is being lent to whom, he needs to sophena (sp?) the people who are administering the specific programs, not the Inspector General of the Fed. From the Office of Inspector General: The Office of Inspector General (OIG) conducts independent and objective audits, inspections, evaluations, investigations, and other reviews related to programs and operations of the Board of Governors of the Federal Reserve System (Board). OIG efforts promote integrity, economy, efficiency, and effectiveness; help prevent and detect fraud, waste, and abuse; and strengthen accountability to the Congress and the public. The OIG’s work assists the Board in managing risk and in achieving its overall mission to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems so as to promote optimal macroeconomic performance. That's the job description... In reality, 'Inspector General' = complaint dept, take a number..... |
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Posted: 6/18/2009 9:43:56 AM EDT
[#30]
Quoted:
And I really really really believe him to. You should. If you saw a picture of the "bonds" it is blatantly obvious that they are fakes. 249 of them are a type of bond that never existed, and the other ten were in a denomination that the US never issued. The thought that these bonds were real did not pass the laugh test on day 1. |
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Posted: 6/18/2009 11:18:11 AM EDT
[#31]
Quoted:
Quoted:
Quoted:
Quoted:
Glenn Beck on it after the top of this hour. Tune in to a radio near you. 9 Trillion with only 2 Trillion on the books..... http://www.youtube.com/watch?v=mO3GpzWfppo
She doesn't have a clue what's going on. Not a clue. Not really - the guy asking the questions seems like the one without a clue to me, and I'm not sure he actually understands what her job is. If he wants details about what money is being lent to whom, he needs to sophena (sp?) the people who are administering the specific programs, not the Inspector General of the Fed. From the Office of Inspector General: The Office of Inspector General (OIG) conducts independent and objective audits, inspections, evaluations, investigations, and other reviews related to programs and operations of the Board of Governors of the Federal Reserve System (Board). OIG efforts promote integrity, economy, efficiency, and effectiveness; help prevent and detect fraud, waste, and abuse; and strengthen accountability to the Congress and the public. The OIG’s work assists the Board in managing risk and in achieving its overall mission to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems so as to promote optimal macroeconomic performance. Yeah, they review the operations of the Fed organization, to ensure it runs according to the law, avoids fraud and inefficiency, etc - they are not necessarily tasked with (or qualified) to do the specific in-depth financial auditing of specific loan decisions, or the details of how particular programs work. In addition, they put out reports on a regular basis, and ANYONE who has bothered to read their most recent report can tell pretty easily what their areas of responsibility and what their level of financial expertise is. My guess is if the Congressman (or whoever it was), has read their most recent report, he wouldn't have wasted his time asking her a bunch of questions that she simply doesn't know the answer to. The fact that she looks like she cannot (or will not) answer questions is not because she is being evasive or cannot do her job, it's because he's asking her questions that her job doesn't really pertain to. And, even if the IGs office started to look more closely in depth at specific programs (with the help of accounting firms, whom they contract with to do financial analysis), the data almost certainly wouldn't be avialable to her yet, given the relative recency of their latest report to Congress. The people he should be asking those questions are Bernanke and the members of the board, as well as the people who are administering the specific programs. Berating her with questions about what he saw on Bloomberg TV is pretty pointless, IMO. 
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Posted: 6/18/2009 11:29:06 AM EDT
[#32]
They are probably "were" real, the government just decided this would be the easiest way to cancel 134 billion in owed debt.
Hey, well the auto bailout just got payed for if that is the case. If I were a buying "paper" from the government I would be worried about the fine print and the chance of the government just unilaterally declaring that I had fakes, or my papers arent any good anymore. |
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Posted: 6/18/2009 11:32:30 AM EDT
[#33]
Quoted: They are probably "were" real, the government just decided this would be the easiest way to cancel 134 billion in owed debt. Hey, well the auto bailout just got payed for if that is the case. If I were a buying "paper" from the government I would be worried about the fine print and the chance of the government just unilaterally declaring that I had fakes, or my papers arent any good anymore. And they know this, which is why they don't do it... If they did, then who would buy their paper? The fact is, anyone with half a brain can tell they are fakes... |
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Posted: 6/18/2009 11:49:40 AM EDT
[#34]
Quoted: Quoted: They are probably "were" real, the government just decided this would be the easiest way to cancel 134 billion in owed debt. Hey, well the auto bailout just got payed for if that is the case. If I were a buying "paper" from the government I would be worried about the fine print and the chance of the government just unilaterally declaring that I had fakes, or my papers arent any good anymore. And they know this, which is why they don't do it... If they did, then who would buy their paper? The fact is, anyone with half a brain can tell they are fakes... I was originally skeptical and thought there might be something to this. The more I read, the more I believed they were fake. At this point, there is no doubt. The way I see this, the guys were never going to try to sell the bonds. They were props. They were going to con someone out of big cash or whatever, and were using these to show that they had the support or backing of the Japanese government. It was "flash cash" in other words. |
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Posted: 6/18/2009 12:20:25 PM EDT
[#35]
Quoted: I was originally skeptical and thought there might be something to this. The more I read, the more I believed they were fake. At this point, there is no doubt. The way I see this, the guys were never going to try to sell the bonds. They were props. They were going to con someone out of big cash or whatever, and were using these to show that they had the support or backing of the Japanese government. It was "flash cash" in other words. If you agree they are fakes, then it should be an act of war if a Nation State attempts to dilute the money supply by way of forgery to the tune of 134.5 Billion. |
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Posted: 6/18/2009 12:23:06 PM EDT
[#36]
Quoted:
Quoted:
I was originally skeptical and thought there might be something to this. The more I read, the more I believed they were fake. At this point, there is no doubt. The way I see this, the guys were never going to try to sell the bonds. They were props. They were going to con someone out of big cash or whatever, and were using these to show that they had the support or backing of the Japanese government. It was "flash cash" in other words. If you agree they are fakes, then it should be an act of war if a Nation State attempts to dilute the money supply by way of forgery to the tune of 134.5 Billion. Which Nation State do you believe did this? 
The only government I can think of that would do something like that is North Korea, who are notorious already for conterfeiting U.S. currency - and we're practically already in a Cold War with them |
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Posted: 6/18/2009 12:34:05 PM EDT
[#37]
Quoted: Quoted: I was originally skeptical and thought there might be something to this. The more I read, the more I believed they were fake. At this point, there is no doubt. The way I see this, the guys were never going to try to sell the bonds. They were props. They were going to con someone out of big cash or whatever, and were using these to show that they had the support or backing of the Japanese government. It was "flash cash" in other words. If you agree they are fakes, then it should be an act of war if a Nation State attempts to dilute the money supply by way of forgery to the tune of 134.5 Billion. If that were actually the case, I might agree. However, I would wager they were trying to con someone out of a relatively small amount of money. A mil or 2. This wasn't a nation doing it, it was con men. This was like those guy that send you a check for $5000 when it was supposed to be $500, then ask you to send the $4500 back. It was a scam, nothing more. |
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Posted: 6/18/2009 1:14:55 PM EDT
[#38]
Quoted:
Quoted:
I was originally skeptical and thought there might be something to this. The more I read, the more I believed they were fake. At this point, there is no doubt. The way I see this, the guys were never going to try to sell the bonds. They were props. They were going to con someone out of big cash or whatever, and were using these to show that they had the support or backing of the Japanese government. It was "flash cash" in other words. If you agree they are fakes, then it should be an act of war if a Nation State attempts to dilute the money supply by way of forgery to the tune of 134.5 Billion. The folks who did this had no intent of diluting our money supply.
These bonds are so obviously fake that no entity that has access to enough money to buy them at even 1% of face value would fall for them. They are designed to fool people who know NOTHING about US debt instruments. The marks are never given the bonds. As someone else posted, these are "flash cash" in a con game. The "bonds" in question are not even forgeries, since a forgery is a copy of something real. There has never been a Federal reserve issued bond. There has never been a $1 billion bond issued by any entity. |
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Posted: 6/18/2009 2:53:58 PM EDT
[#39]
One of the quickest ways to sabotage and usher in the death of a
currency is to raise legitimate questions about its ability to withstand counterfeiting efforts. Prove that counterfeiting is not only possible but highly likely, and the world’s confidence in the sabotaged currency will undoubtedly plummet. Hell, were doing a fine job on our own accord, add the prospect and absolute certainty that foreign entities are engaged as well and you have a recipe for disaster. |
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Posted: 6/18/2009 2:58:55 PM EDT
[#40]
I wonder if this is going to end up like Roswell, NM.
"Yep, they're real" then 10 days later "Nope, they're fake but you can't see the proof and that's the last you'll hear about it." |
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Posted: 6/18/2009 5:03:05 PM EDT
[#41]
Google an image search for a "real" treasury bond, they are quite illusive almost mythical.
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Posted: 6/18/2009 5:11:56 PM EDT
[#42]
Quoted:
even if they were real by issuing this statement they have now eliminated $134.5 Billion in debt. True enough. This way there are now 134.5 billion less fakes out there. |
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Posted: 6/18/2009 5:15:51 PM EDT
[#43]
Quoted: Quoted: I was originally skeptical and thought there might be something to this. The more I read, the more I believed they were fake. At this point, there is no doubt. The way I see this, the guys were never going to try to sell the bonds. They were props. They were going to con someone out of big cash or whatever, and were using these to show that they had the support or backing of the Japanese government. It was "flash cash" in other words. If you agree they are fakes, then it should be an act of war if a Nation State attempts to dilute the money supply by way of forgery to the tune of 134.5 Billion. That would be a ~1% dillution, hardly able to impact anything... These weren't made by a nation-state, they aren't GOOD ENOUGH FAKES for that... They're monopoly money... Used as a prop in a scam, to get people to 'invest'..... |
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Posted: 6/19/2009 5:02:48 AM EDT
[#44]
Quoted:
Google an image search for a "real" treasury bond, they are quite illusive almost mythical. Because the US stopped issuing registered Treasury bonds in paper form in 1986. The last paper Treasury bearer bond was issued in 1982. Treasury bonds (not to be confused with savings bonds) are electronic now. |
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Posted: 6/19/2009 5:08:57 AM EDT
[#45]
Quoted:
Quoted:
Quoted:
I was originally skeptical and thought there might be something to this. The more I read, the more I believed they were fake. At this point, there is no doubt. The way I see this, the guys were never going to try to sell the bonds. They were props. They were going to con someone out of big cash or whatever, and were using these to show that they had the support or backing of the Japanese government. It was "flash cash" in other words. If you agree they are fakes, then it should be an act of war if a Nation State attempts to dilute the money supply by way of forgery to the tune of 134.5 Billion. Which Nation State do you believe did this?
Denmark; they've been subverting our society for years 
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Posted: 6/19/2009 5:11:26 AM EDT
[#46]
And in other news the Obama regime announced today that the federal debt is 134 billion less than expected! Proving that Obama has reduced the national debt and is working for you!
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Posted: 6/19/2009 6:32:46 AM EDT
[#47]
the interesting part was the treasury admitted there was 105 billion unredeemed out there, so either 105 billion in money was lost somehow or people have been sitting on it without earning interest for over 5 years...
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Posted: 6/19/2009 6:35:48 AM EDT
[#48]
Quoted:
cover up by the kenyan commie? No, it is the ACORN fund you know 
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Posted: 6/19/2009 6:39:52 AM EDT
[#49]
Quoted:
the interesting part was the treasury admitted there was 105 billion unredeemed out there, so either 105 billion in money was lost somehow or people have been sitting on it without earning interest for over 5 years... This is very common. It's one of the reasons the government went all electronic. The Treasury has a whole office dedicated to tracking down the owners of unredeemed bonds. Why, you might ask, is the government so eager to pay out money to creditors who don't seem to want it? One reason is that our credibility as the premier sovereign debt issuer requires it. The other is that, despite what you hear about foreign ownership of US debt, most debt is owned by Americans. And while the interest is exempt from state and local taxes, you do have to pay federal income taxes on it. 
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Posted: 6/21/2009 4:56:23 AM EDT
[#50]
The two suspects whereabouts remain unknown and a 6/19 Financial Times article is blaming the Italian mafia for the "fake" bonds.
One interesting read from a India News Group mentions the practice of anonymous Treasury auctions : If one looks at the pattern of holding of the US Treasury Securities, even though the US Treasury asserts that it has stopped issuing bearer securities, it has issued its securities to tax haven entities. Tax haven means that the identity of the ultimate owner is opaque. Out of the total of some 3,262 billion worth treasury securities held by foreign governments and banks as of April 2009, the amount of securities held by what the US treasury says as ‘Caribbean banking sector’ is mentioned as 205 billion and that includes Bahamas, Bermuda, Cayman Islands, Netherlands Antilles, Panama and from June 2006 British Virgin Islands. In none of these tax shelters the name of the real investor is ascertainable. Even the British investments into US Treasury takes place through the Isle of Man, the British tax haven. The US government has admitted that it has allowed address-less money, that is black money, into the Treasury bonds. |
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