A follow-up to my post on the $134.5 Billion on bonds seized by Italian police in Como, Italy, and the argument that they are “clearly fake” based on a Treasury Official examining them online (probably this picture).
Regarding the claim that the Bonds are fake because they far exceed the official amount outstanding:
UPDATE 1-U.S. Treasury says bonds seized in Italy are fakes
WASHINGTON, June 19 (Reuters) – A purported $134 billion in U.S. government bearer bond certificates seized by police near the Italian-Swiss border are fake, the U.S. Treasury said on Friday.
“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.
Please see the following:
Solari.com: The Missing Money – Trillions of Dollars are Missing from the U.S. Government
FT.com: Discrepancies in America’s accounts hide a black hole
The official logic is that these MUST be fake simply because “official” statistics do not allow for the amounts found on the securities. This is an “appeal to authority”. I see the irony in referencing Wikipedia on this one: http://en.wikipedia.org/wiki/Appeal_to_authority.
But if the Treasury has a track record of being unable to reconcile its books, is it possible there’s an off-the-books system at work on the world stage?
I’m placing a high probability on these bonds being fake, but haven’t ruled anything out. It could be the mafia, though highly unlikely due to the difficulty in cashing these denominations. It could be North Korea, adopting China’s mode of Unrestricted Warfare. Who knows?
