Wait, the $134.5 Billion Bond Scandal Gets Even Weirder
Okay, this bond scandal is just getting weirder and weirder.
Hold on to your hat for another wild turn. Turner Radio Network (TRN) announced June 20 that it had new confirmed information the two Japanese nationals are in the “employees of the Finance Ministry of Japan.” TRN has now confirmed the two men arrested were trying to secretly dump Bonds as ordered by the government of Japan because the Japanese government feared that the U.S. government would be unable to repay its debts. Despite the assurances from Japanese Finance Minister Kaoru Yosano that Japan has complete confidence in the U.S. Treasury has confirmed the upon the serial numbers of the Bonds, part of the $686 billion of U.S. debt officially held by Japan.
Bloomberg: FBI Arrests Blogger for Allegedly Threatening Judges
June 24 (Bloomberg) — A New Jersey man described as an Internet radio talk show host and blogger was arrested for allegedly threatening to kill three U.S. Appeals Court judges in Chicago who earlier this month upheld a law banning handguns.
Hal Turner, 47, of North Bergen was arrested by U.S. Federal Bureau of Investigation agents at his home today, according to a statement issued by Chicago U.S. Attorney Patrick Fitzgerald.
In the days after the judges’ June 2 decision to uphold a lower court’s dismissal of a National Rifle Association lawsuit challenging the ban, Turner posted on his Web site their names, photographs, phone numbers and work addresses, together with a picture of the courthouse delineating stanchions he called “anti-truck bomb barriers,” according to Fitzgerald.
“Let me be the first to say this plainly: These judges deserve to be killed,” Turner allegedly said in one Web site posting, according to Fitzgerald.
People make threats against public figures all the time – could the death threat excuse be a proxy for Hal Turner’s grandiose statements regarding the validity fo the bonds?
And from Asianews.it, the Vatican-based news agency that first broke the story:
Confidential sources, whose reliability AsiaNews could not confirm, claim that one of the two Japanese stopped and then released in Ponte Chiasso was Tuneo Yamauchi, brother-in-la of Toshiro Muto, who was until recently Deputy Governor of the Bank of Japan, which of course does not automatically mean that the securities are real.
However, other sources are saying that for Italian authorities they are real and that Rome is unwilling to play along with the US Federal Reserve, which described them as fakes without taking a peak at them, except via the internet.
And, finally, from a translated version of THIS Italian blog:
Asia News, an Italian-Asian information related to the PIME, the Pontifical Isituto for Foreign Missions, was the main site for information italico over this blog to have reported the news on time and to seek additional information and suggestions for ” investigative journalism. ”
Being multilingual is a site for his articles that have referred most of the international media and, hence, even our own.
The site is run by Father Bernardo Cervellera, which is not an obscure missionary, but the former Director of Agenzia Fides, the prestigious news agency of the Vatican.
1. These bonds MUST be fake simply due to the fact that there was not enough debt outstanding at the date of their issue, according to official statistics. Since the amount on their face exceeds the total value of bonds in existence at the time, we can write them off as fakes. This is, of course, foregoing the possibility that governments run two sets of books.
2. The bonds MUST be fake, because in a world where the US issues trillions of dollars in off-book high-denomination securities it does not intend to repay, we live in a world where faith in the ability (and intent) of the US to repay its debts is shattered.
3. These bonds MUST be fake, because if there really are off-book bonds the US does not want to repay, it makes sense to devalue that debt by planting the meme that all high-value, obscure instruments are forgeries. This is the Market for Lemons and Gresham’s Law at work.
