TonySutton
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I guess it takes time to put together a cover story, get all involved parties in agreement and then implement.
2 Japanese Nationals caught trying to dump 134 billion in treasuries
- Thread starter theoakman
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someperson
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Acala
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Okay
My eyes are being pried open yet again.
Now tell me - is there ANY reason whatsoever to believe any of the available statistics on the US outstanding debt? Isn't it possible, even likely, that the US government has been engaging in massive borrowing off the books for decades?
Doesn't it now seem possible, if not probable, that instead of a couple trillion in foreign-held debt being called in and forcing the US government to print massive quantities of new FRNs, that there might be several times that amount of debt outstanding?
We are OH so VERY screwed!
My eyes are being pried open yet again.
Now tell me - is there ANY reason whatsoever to believe any of the available statistics on the US outstanding debt? Isn't it possible, even likely, that the US government has been engaging in massive borrowing off the books for decades?
Doesn't it now seem possible, if not probable, that instead of a couple trillion in foreign-held debt being called in and forcing the US government to print massive quantities of new FRNs, that there might be several times that amount of debt outstanding?
We are OH so VERY screwed!
tron paul
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Mystery surrounding 134.5 “fake” billion US dollars seized in Ponte Chiasso remains
http://www.asianews.it/index.php?l=en&art=15556
06/18/2009 18:07
ASIA – ITALY
After two weeks a US Treasury official says securities were fakes. Italy’s financial police is silent. The case is still baffling and full of discrepancies.
Milan (AsiaNews) – US government bonds seized by Italy’s financial police (Guardia di Finanza) at Ponte Chiasso, an the Italian town on the border with Switzerland, are “clearly fakes,” Stephen Meyerhardt, spokesman for the US Bureau of the Public Debt, is quoted as saying in a news report by the Bloomberg agency. AsiaNews contacted the divisional headquarters of Italy’s financial police in Como, which is responsible for Ponte Chiasso, asking for an explanation but none has come forth yet.
For some days the affair has been in the limelight [1]. Importantly, at the time of the bonds were seized it was not possible to determine whether the US government bonds and US Federal Reserve certificates were real of fakes.
Right after the seizure Colonel Mecarelli, Guardia di Finanza commander in Como, said that for at least some of the securities, especially the ‘Kennedy Bonds’, there were doubts about their authenticity. As for the others, some were so well made that it was hard to tell them apart from real ones.
The seizure was carried out two weeks ago. The bonds were in the possession of two Oriental-looking individuals in their fifties with Japanese passports. The two men, were travelling from Milan to Chiasso, in Switzerland, on a local train used primarily by Italian workers commuting to-and-fro Switzerland for work.
At the customs office both men said they had nothing to declare but a check by financial police agents revealed a false bottom in their respective suitcases, each containing a fortune in US securities.
Also inside the agents found extensive and detailed original bank documents about the bonds.
If the latter were real the two Asian men had in their possession (although not necessarily in their ownership) a big chunk of the US debt which would have made them the fourth largest creditors of the United Sates.
Despite what US Treasury spokesman Meyerhardt said, and until more information is forthcoming from Italy’s financial police in Como for AsiaNews the mystery is still there.
Under Italian law when law enforcement agencies seize fake bonds or counterfeit money they are under the obligation to arrest the bearers. And in order to avoid misappropriation, the agency seizing the material, in this case the financial police, must quickly proceed to its destruction (i.e. incineration).
However, in case of real securities, after the securities holders are identified, the financial police must release them immediately after issuing a statement of confiscation and imposing a fine valued in this case at € 38 billion (US$ 53.4 billion). In this case, why were the two men released right away without any fine imposed?
That is not the only discrepancy. It is not clear how statements by US Treasury spokesman Meyerhardt and Italian financial police can be reconciled. For the former the bonds “are clearly fakes”; for the latter, speaking at the start of this whole affair, some bonds were indistinguishable from the real ones when it comes to quality and detail.
Italy’s Guardia di Finanza has a reputation for being a highly specialised and expert financial police agency. How could it be so easily duped! And if the bonds are “clearly fakes” why did it take US authorities two weeks to find out.
Another discrepancy is the fact that, along with the securities, original and recent bank documents were seized as proof of their authenticity.
If what Meyerhardt says is true, some major financial institutions have been deceived by the securities carried by the two Asian men. This would be a bombshell and raise serious questions as to how many bank assets are actually made up of securities that for Meyerhardt are “clearly fakes.”
If counterfeit securities of such high quality are in circulation the world’s monetary system, let alone that of the United States, is in danger. International trade and exchanges could come to a halt.
Whether it is counterfeit money or money laundering, what happened is potentially more dangerous for the stability of the international system than the results of Iran’s elections.
If the bonds are real it means someone with a lot of cash no longer trusts the US dollar as a reserve currency. If this is the case then it would spell the end of the Bretton Woods system and most likely negatively impact world trade.
Unfortunately the international press and main TV networks, with some exceptions, have ignored the whole affair. These days this is actually the real news.
[1] See “US government securities seized from Japanese nationals, not clear whether real or fake,” AsiaNews, 8 June 2009, and “Seizure of US government bonds from two Japanese men in Italy raises questions,” AsiaNews, 8 June 2009.
http://www.asianews.it/index.php?l=en&art=15556
06/18/2009 18:07
ASIA – ITALY
After two weeks a US Treasury official says securities were fakes. Italy’s financial police is silent. The case is still baffling and full of discrepancies.
Milan (AsiaNews) – US government bonds seized by Italy’s financial police (Guardia di Finanza) at Ponte Chiasso, an the Italian town on the border with Switzerland, are “clearly fakes,” Stephen Meyerhardt, spokesman for the US Bureau of the Public Debt, is quoted as saying in a news report by the Bloomberg agency. AsiaNews contacted the divisional headquarters of Italy’s financial police in Como, which is responsible for Ponte Chiasso, asking for an explanation but none has come forth yet.
For some days the affair has been in the limelight [1]. Importantly, at the time of the bonds were seized it was not possible to determine whether the US government bonds and US Federal Reserve certificates were real of fakes.
Right after the seizure Colonel Mecarelli, Guardia di Finanza commander in Como, said that for at least some of the securities, especially the ‘Kennedy Bonds’, there were doubts about their authenticity. As for the others, some were so well made that it was hard to tell them apart from real ones.
The seizure was carried out two weeks ago. The bonds were in the possession of two Oriental-looking individuals in their fifties with Japanese passports. The two men, were travelling from Milan to Chiasso, in Switzerland, on a local train used primarily by Italian workers commuting to-and-fro Switzerland for work.
At the customs office both men said they had nothing to declare but a check by financial police agents revealed a false bottom in their respective suitcases, each containing a fortune in US securities.
Also inside the agents found extensive and detailed original bank documents about the bonds.
If the latter were real the two Asian men had in their possession (although not necessarily in their ownership) a big chunk of the US debt which would have made them the fourth largest creditors of the United Sates.
Despite what US Treasury spokesman Meyerhardt said, and until more information is forthcoming from Italy’s financial police in Como for AsiaNews the mystery is still there.
Under Italian law when law enforcement agencies seize fake bonds or counterfeit money they are under the obligation to arrest the bearers. And in order to avoid misappropriation, the agency seizing the material, in this case the financial police, must quickly proceed to its destruction (i.e. incineration).
However, in case of real securities, after the securities holders are identified, the financial police must release them immediately after issuing a statement of confiscation and imposing a fine valued in this case at € 38 billion (US$ 53.4 billion). In this case, why were the two men released right away without any fine imposed?
That is not the only discrepancy. It is not clear how statements by US Treasury spokesman Meyerhardt and Italian financial police can be reconciled. For the former the bonds “are clearly fakes”; for the latter, speaking at the start of this whole affair, some bonds were indistinguishable from the real ones when it comes to quality and detail.
Italy’s Guardia di Finanza has a reputation for being a highly specialised and expert financial police agency. How could it be so easily duped! And if the bonds are “clearly fakes” why did it take US authorities two weeks to find out.
Another discrepancy is the fact that, along with the securities, original and recent bank documents were seized as proof of their authenticity.
If what Meyerhardt says is true, some major financial institutions have been deceived by the securities carried by the two Asian men. This would be a bombshell and raise serious questions as to how many bank assets are actually made up of securities that for Meyerhardt are “clearly fakes.”
If counterfeit securities of such high quality are in circulation the world’s monetary system, let alone that of the United States, is in danger. International trade and exchanges could come to a halt.
Whether it is counterfeit money or money laundering, what happened is potentially more dangerous for the stability of the international system than the results of Iran’s elections.
If the bonds are real it means someone with a lot of cash no longer trusts the US dollar as a reserve currency. If this is the case then it would spell the end of the Bretton Woods system and most likely negatively impact world trade.
Unfortunately the international press and main TV networks, with some exceptions, have ignored the whole affair. These days this is actually the real news.
[1] See “US government securities seized from Japanese nationals, not clear whether real or fake,” AsiaNews, 8 June 2009, and “Seizure of US government bonds from two Japanese men in Italy raises questions,” AsiaNews, 8 June 2009.
DirtMcGirt
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I need an interview from the custom officers who arrested these two "counterfeiters". And a picture of the false bottom suitcase...
tron paul
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Leo Wanta, Plz Call Yr Office
The Story Of Leo Wanta
'The 27.5 Trillion Dollar Man'
http://www.arcticbeacon.com/articles/26-Mar-2006.html
... A former U.S. Treasury official appointed trustee to a large sum of money by President Ronald Reagan, Wanta holds the financial "golden key" to 27.5trillion dollars, money he says now held in public trust for the American people.
To back up Wanta's trustee status as protector of trillions, a federal judge in Alexandria, Virginia, in 2003, ruled in his favor, saying Wanta's trustee status is legally binding and the money is rightfully the property of the American people.
...Regarding the Rich arrest in Switzerland and his meeting with Foster, Wanta said this on The Investigative Journal last week:
"I was named Ambassador from Somalia to Switzerland and Canada as a cover to arrest Rich. When I go there, I found myself in a Swiss dungeon and Rich was set free. Foster was also there on behlaf of the Clinton's, asking for $250 million to be used for The Children's Fund, which Hillary was the chairman. I thought it was to be used for a good cause so We gave him the money.
"Later Vince attempted to help me out of my situation, but I was later notified he was found dead and I never found out what happened to the $250 million."
Although Wanta had no idea what The Children's Fund was all about, later a financial investigator, Marco Saba of the Organized Crime Observatory in Switzerland wrote this about turned out to be a secret fund:
"One component of this information concerns the activities of the CIA operative known as Mrs Hillary Rodham Clinton. For some years prior to the elevation of her husband, Bill, a CIA operative like his ''CIA wife'', Hillary had been in control of an organization calling itself the Children''s Defense Fund. Executive Order 12333 (1981) of President Reagan, the US intelligence services were authorised to operate what became known as Title 18, Section 6 USG corporations for intelligence purposes, and to deny any intelligence community connection (that is, to lie about their real purpose). Some of these entities have touchy-feely, welfarish titles, like The Children''s Defense Fund. It is alleged, un the basis of intelligence community leakages, that Hillary became accustomed to treating this fund as her own private slush fund."
The Story Of Leo Wanta
'The 27.5 Trillion Dollar Man'
http://www.arcticbeacon.com/articles/26-Mar-2006.html
... A former U.S. Treasury official appointed trustee to a large sum of money by President Ronald Reagan, Wanta holds the financial "golden key" to 27.5trillion dollars, money he says now held in public trust for the American people.
To back up Wanta's trustee status as protector of trillions, a federal judge in Alexandria, Virginia, in 2003, ruled in his favor, saying Wanta's trustee status is legally binding and the money is rightfully the property of the American people.
...Regarding the Rich arrest in Switzerland and his meeting with Foster, Wanta said this on The Investigative Journal last week:
"I was named Ambassador from Somalia to Switzerland and Canada as a cover to arrest Rich. When I go there, I found myself in a Swiss dungeon and Rich was set free. Foster was also there on behlaf of the Clinton's, asking for $250 million to be used for The Children's Fund, which Hillary was the chairman. I thought it was to be used for a good cause so We gave him the money.
"Later Vince attempted to help me out of my situation, but I was later notified he was found dead and I never found out what happened to the $250 million."
Although Wanta had no idea what The Children's Fund was all about, later a financial investigator, Marco Saba of the Organized Crime Observatory in Switzerland wrote this about turned out to be a secret fund:
"One component of this information concerns the activities of the CIA operative known as Mrs Hillary Rodham Clinton. For some years prior to the elevation of her husband, Bill, a CIA operative like his ''CIA wife'', Hillary had been in control of an organization calling itself the Children''s Defense Fund. Executive Order 12333 (1981) of President Reagan, the US intelligence services were authorised to operate what became known as Title 18, Section 6 USG corporations for intelligence purposes, and to deny any intelligence community connection (that is, to lie about their real purpose). Some of these entities have touchy-feely, welfarish titles, like The Children''s Defense Fund. It is alleged, un the basis of intelligence community leakages, that Hillary became accustomed to treating this fund as her own private slush fund."
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krazy kaju
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It's possible that those are fake bonds, though I have no idea who would think printing $134bn of fake bonds would not be immediately suspicious.
DirtMcGirt
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http://www.ft.com/cms/s/0/82091ec2-5c2f-11de-aea3-00144feabdc0.html
Look like it was the mafia, (organized crime), and the two accused of smuggling were let go...
Look like it was the mafia, (organized crime), and the two accused of smuggling were let go...
HOLLYWOOD
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What the hell is "most probably"? Week 2 of this incident and they don't know?
Glad to see the Bureau of Public Debt, wants to discredit $134 BILLION in US Debt!
This makes No sense whatsoever: again week two and they can't confirm 2 Japanese nationals? I guess Customs that track everyone, can't find anything and the Japanese consulate/embassy in Milan/Rome can't confirm? WTF?
I'm smelling Bullshyt and of course the dead giveaway is complete Blackout by MSM aka Depart of Propaganda.
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emazur
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Glenn Beck's been covering it - at least twice this week, today was one of the segments
Crowish
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He's talking about it on Xmradio right now.
Johnnybags
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This is one of the most fascinating stories that I've read in a long time...
If we assumed the bills are real (and it's getting harder to assume they are fake: why were they released?)...If they are real...
Why did they do such a shitty job getting the bonds to their destination?
Why didn't they use the diplomatic privileges to bypass the border check?
Why did they, as two Asians dressed for formal business, hop on a train full of Italian day laborers and expect to look inconspicuous?
As one blogger I read points out, it's almost like they wanted to get caught...
That got me thinking...maybe they did. Or maybe someone paid them to get caught: a whistleblower, who gets to remain nameless, tossing a string out to the rest of the world hoping that they tug on it....
I don't know, pure speculation...pretty much all we can do at this point...
If we assumed the bills are real (and it's getting harder to assume they are fake: why were they released?)...If they are real...
Why did they do such a shitty job getting the bonds to their destination?
Why didn't they use the diplomatic privileges to bypass the border check?
Why did they, as two Asians dressed for formal business, hop on a train full of Italian day laborers and expect to look inconspicuous?
As one blogger I read points out, it's almost like they wanted to get caught...
That got me thinking...maybe they did. Or maybe someone paid them to get caught: a whistleblower, who gets to remain nameless, tossing a string out to the rest of the world hoping that they tug on it....
I don't know, pure speculation...pretty much all we can do at this point...
This AsiaNews.it outlet (which is Vatican-sponsored) originally broke the story on June 8 and seem to be doing the most in depth journalism. Unfortunately, none of the reports have a byline...kind of wanted to shoot the reporter an email thanking him/her for their work..
jon_perez
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ROTFLMAO! You gotta love how they managed to spin it from 2 (alleged) japanese nationals to "employees of Japan Finance Ministry"
jon_perez
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ROTFLMAO! You gotta love how "the last bastion of true free speech available in the United States media" managed to spin it from 2 (alleged) japanese nationals to "employees of Japan Finance Ministry"...
Also, the pictures at http://cannonfire.blogspot.com/2009/06/mystery-bonds-enter-cult-now-it-gets.html purporting to show the photos of the 2 "japanese" nationals, assuming that these *are* accurate, sure don't look japanese to me.
Well we got conflicting reports, I read an article somewhere that described the two as one male, one female. The whole thing is a web of discrepancies.
He makes good points...but the real important questions are...If they are real, why isn't Italy taking it's 1/3 of the prize?. And if they are fake, WHY were these two released and not arrested?
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jon_perez
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They were fakes and the Italian police are notoriously easy to be bribed?
I'm sure scammers and fraudsters have a ready stash of money for this sort of stuff.
puppetmaster
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You would think that bonds would be numbered and easy to verify....I mean who would buy these for billions and not have a way for verification of authenticity.
If these were fakes, why would they not print them up at their final destination instead of moving them around the planet... email and a color printer.....
I am very skeptical of them being fakes.
If these were fakes, why would they not print them up at their final destination instead of moving them around the planet... email and a color printer.....
I am very skeptical of them being fakes.
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