Fake US bonds worth trillions seized

[dipsydoodle]

Italian prosecutors say they have broken up an organised crime ring that was hiding trillions of dollars of fake US bonds.

Worth $6 trillion, the bonds were found in three metal boxes in a warehouse in the Swiss city of Zurich.

>

Fake US securities have been seized in Italy before and there were at least three cases in 2009.

But this case is on a different scale to previous investigations, as the fake bonds have a value equivalent to almost half of the entire US debt pile.

http://www.bbc.co.uk/news/business-17076378

[Vincardog]

1. How much are fake bonds worth?

[ret5hd]

2. i dunno...$5-$10/ton?

[saras]

4. Just like any other paper, including "legal" money, they're worth what you can get for them

[Incitatus]

5. The same as any counterfeit currency.

If you can pass it off to an unsuspecting mark, a lot. Or if they had access to real bonds they could switch them out and it might be a while before it was noticed.

[AlbertCat]

3. Fake US bonds worth trillions seized

Uh... shouldn't that be...


Fake US bonds worth fake trillions seized?

[DearAbby]

6. No kidding....either they are worth Trillions

or they are fake.

[MADem]

8. Well done, you!

You are quite right!

[bluedigger]

7. The criminals must have anticipated a market for their goods.

A pretty damn big market.

[dipsydoodle]

12. This has apparently take years and years to set up

They'd already sat in Zurich for some years having been moved there from Hong Kong. Nobody know at present what the eventual aim was for their use. See video at post #11

That's sure no amateur production.

[Journeyman]

9. As we say in the print trade: "The best way to make money is to MAKE money". . .

[nykym]

10. We should ask for them back

and sell them to china to cut the deficit LOL.

[dipsydoodle]

11. Related BBC News video here

Mafia probe led to huge fake bonds find : http://www.bbc.co.uk/news/world-europe-17080039

[Posteritatis]

13. Now I'm curious as to what they had in mind for those. (nt)

[stockholmer]

14. eventually, all bonds, (counterfeit or not) will be worth less than the paper they are printed on

right now, if a criminal could have gotten real, tangible wealth and goods for the 'fake' bonds, they will make out better than a person trying to redeem a 30 year US T-bill in 2042.

It's called the 'no US default ever' option, as the Federal reserve will simply print to inifinity till the system collapses. And believe me, you will NOT have to wait till 2042 to see the outcome. 2020 or so is the longest I can see the ponzi scheme lasting (and only that long because of the 6,000+ thermonuclear warheads and empiric force projection via the Pentagon backing up the dying fiat dollar).



Greenspan: U.S. can never default, because it can always “print money” 8-7-2011

[meow2u3]

15. That must have been the bogus bonds Wall Street sold to the EU

No wonder Greece's, Portugal's, Ireland, Spain's, and Italy's economies are in the toilet.

[NeverAsItSeems]

16. 26 trillian dollars of fraud

http://divinecosmos.com/start-here/davids-blog/1023-financial-tyranny

[dipsydoodle]

17. That is unassociated with this subject

Why did you post that link ?