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  #41  
Old 23.06.2009, 10:05
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Re: Suitcase With $134 Billion confiscated at CH border??

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The US media has pretty much stopped reporting news that might be detrimental to the mood of the country. I spent almost a decade there and the quality of the US news media has steadily detiorated over that time-there are too many vested interests running the media companies these days I think. I am not a conspiracy theorist by any means but it seems like they are quietly self-censoring at the least.
Hard to believe Russia or China are involved; they both have huge reserves in US$ so would only damage themselves by destroying confidence in the $.
If they wanted to damage the $ the best way would be to simply dump their own holdings?

Marton
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  #42  
Old 23.06.2009, 12:36
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Re: Suitcase With $134 Billion confiscated at CH border??

Here is some more information on the whole story, and also about the USD in general.
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  #43  
Old 23.06.2009, 12:47
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Re: Suitcase With $134 Billion confiscated at CH border??

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Here is some more information on the whole story, and also about the USD in general.
Good article, lots of points to muse over.

There are some people talking about creating an alternative/replacement reserve currency to the dollar; problem is if I was a central banker would I want to fill my boots with a new currency that was guaranteed by China &/or Russia? On the other hand do I want my vaults full of US$ dollars? Maybe time to go back to gold?

Marton
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  #44  
Old 23.06.2009, 12:50
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Re: Suitcase With $134 Billion confiscated at CH border??

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The US media has pretty much stopped reporting news that might be detrimental to the mood of the country. I spent almost a decade there and the quality of the US news media has steadily detiorated over that time-there are too many vested interests running the media companies these days I think. I am not a conspiracy theorist by any means but it seems like they are quietly self-censoring at the least.
Same in Germany.
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  #45  
Old 23.06.2009, 13:17
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Re: Suitcase With $134 Billion confiscated at CH border??

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The US media has pretty much stopped reporting news that might be detrimental to the mood of the country. I spent almost a decade there and the quality of the US news media has steadily detiorated over that time-there are too many vested interests running the media companies these days I think. I am not a conspiracy theorist by any means but it seems like they are quietly self-censoring at the least.
that sounds unfair to say the least ... the story itself is hardly credible. The logic that two japanese businessmen 'plotted' to get caught with fake bonds in such ludicrous amounts is mildly amusing, if that. I cannot contemplate ANY scenario in which this would have the effect of destabilizing the USD. if you have access to currency rates, check the USD movements when the story broke. the markets took no note whatsoever. zilch.

I am not surprised most people have paid no attention to this.
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  #46  
Old 23.06.2009, 14:02
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Re: Suitcase With $134 Billion confiscated at CH border??

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The US media has pretty much stopped reporting news that might be detrimental to the mood of the country. I spent almost a decade there and the quality of the US news media has steadily detiorated over that time-there are too many vested interests running the media companies these days I think. I am not a conspiracy theorist by any means but it seems like they are quietly self-censoring at the least.
From Reuters last Friday afternoon(http://www.reuters.com/article/compa...46360420090619)...
"Based on the photograph we've seen online, they are clearly fake. And not even good fakes," said Stephen Meyerhardt, a spokesman for the Treasury's Bureau of the Public Debt.
He added that there is only $105 million in Treasury bearer bond securities outstanding, so the $134 billion amount seized far exceeds the universe of outstanding securites.
...
The bonds comprised 249 "Federal Reserve" bonds of $500 million nominal value each and 10 "Bond Kennedy" with a $1 billion nominal value, the tax police said June 4 in a statement.
...
In the last two years, Italian authorities have seized some $800 million of U.S. bonds in the Como area in northern Italy.
...
Meyerhardt said U.S. government investigators believe that the seized bond forgeries were made using commercial photo enhancement software to alter the image of a $100 bill to increase the amount into millions or billions and add what appear to be interest coupons.
Another U.S. official said the seized bonds were purported to be issued during the Kennedy administration in the early 1960s, but the certificates showed a picture of a space shuttle on it -- a spacecraft that first flew in 1981. Some of the bonds were purportedly issued in a $500 billion denomination that never existed."
Doesn't strike me as self-censoring; strikes me as good reporting by waiting for some facts to report.
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  #47  
Old 30.06.2009, 10:55
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Re: Suitcase With $134 Billion confiscated at CH border??

I found this news on quite a lot of websites. These guys were caught in Italy, so they were not yet in Switzerland.
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  #48  
Old 02.07.2009, 14:15
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Re: Suitcase With $134 Billion confiscated at CH border??

Just seen this Topic....

AFAIK - ANY 'Bank Paper' taken physically out of the Banking System - is worthless.

To use the Bonds in any way - would mean they had to be re-introduced into the system - THAT would created some interest (pardon the pun) - couple that to the lack of 'coverage', means that someone, somewhere, did their homework,and found that they were owned by a daft Billionaire - or they were fakes.
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  #49  
Old 27.01.2011, 22:15
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Re: Suitcase With $134 Billion confiscated at CH border??

20 "Billion" in fake US Govt bonds confiscated by the Italian authorities.

http://finance.yahoo.com/news/Italy-...43563.html?x=0
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