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Italy Confiscates Euro20 Billion In Fake Us Bonds

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http://finance.yahoo.com/news/Italy-confiscates-euro20-apf-1927243563.html?x=0

Italian authorities have confiscated $20 billion in counterfeit U.S. government bonds.

Authorities say the bonds were of a quality that theoretically could have defrauded financial institutions.

But a stop at a highway rest area where a group of Carabinieri military police were taking a break proved to be the undoing of the group.

A Carabinieri statement said officers did a routine search of the vehicles after the "suspicious" behaviour of the men and found "to their surprise" a briefcase with 40 bonds 0each valued at $500 million.

Officials said Wednesday that U.S. officials confirmed the bonds were counterefeit.

Hilarious that the US can print at will and get the Ben Bernanke to give them money, can't the US govt just accept the help of some professional counterfeiters. This isn't the first time this has happened one wonders how many of the fake unapproved US bonds are in the system.

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http://www.marketskeptics.com/2009/06/confiscated-us-bonds-were-headed-for.html

Monday, June 15, 2009

June 12 (Bloomberg) -- Italy’s financial police said they asked the U.S. Securities and Exchange Commission to authenticate U.S. government bonds found in the false bottom of a suitcase carried by two Japanese travelers attempting to cross into Switzerland.

The bonds, with a face value of more than $134 billion, are probably forgeries, Colonel Rodolfo Mecarelli of the Guardia di Finanza in Como, Italy, said today. If the notes are genuine, the pair would be the U.S. government’s fourth-biggest creditor, ahead of the U.K. with $128 billion of U.S. debt and just behind Russia, which is owed $138 billion.

Chicken feed compared to this one.

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Can somebody please put me straight on this?

If I forge a bunch of £20 notes, I could probably get rid of them really easy to some mates of mates etc

Say for £5 each

They'd probabby spend em in pubs cafe's etc no probs.

Kinda makes those people melting metal for fake £1 coins look a bit dim!

If I forged a load of £50 notes - then... well they'd be a little harder to shift wouldn.t they? I mean who pays with a £50 note these days?

If I forged a £500 note I'd be a bit stupid right?

How about a £1234 note???

But people are out there forging $500M notes and selling them on? Presumabley they are , or they woudn't be doing it!!!!

I mean whats going on??

How Frazzled on coke does a banker need to be to part with $500 + for a piece of paper?

Kinda makes the people knockin out fake 20's look a bit stupid!

Its about as mad as that bloke flying in hanguns through manchester airport in his luggage!!!!

Apparently he got caight on at least one occasion ant talked his way out of it!!!!!

WTF is going on?? There has got to be more to this story - like the last time - it stinks worse than my feet! What is the real story behind this?

Edited by sbn

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http://www.businessinsider.com/another-fake-bonds-turns-up-in-italy-2009-9

Sep. 22, 2009

Earlier this year there was that bizarre story of the two Japanese "tourists" found with hundreds of billions of presumably fake U.S. bearer bonds. So what happened to them?

Bloomberg: The two men later disappeared and the case is still under investigation. The U.S. government bonds found in the false bottom of a suitcase carried by the men were fake, a U.S. Treasury spokesman said June 18.

And in the meantime:

The U.S. Secret Service is examining more than $100 billion of U.S. government bonds confiscated in northern Italy in August, just two months after $134 billion of allegedly fake securities were seized in a nearby town.

The Secret Service is analyzing whether the bonds taken in August may be counterfeit, said a spokeswoman for the U.S. embassy in Rome. Italy’s financial police in Varese, north of Milan, arrested two individuals carrying the securities in a briefcase, according to a person involved in the case.

The two men currently are in custody as prosecutors in the town of Busto Arsizio carry out their investigation, the person said.

We presume it's all fake again. Still, weird that Italy continues to be the nexus of this bizarre sort of fraud.

Read more: http://www.businessinsider.com/another-fake-bonds-turns-up-in-italy-2009-9#ixzz1CB90AGpc

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Can somebody please put me straight on this?

If I forge a bunch of £20 notes, I could probably get rid of them really easy to some mates of mates etc

Say for £5 each

They'd probabby spend em in pubs cafe's etc no probs.

Kinda makes those people melting metal for fake £1 coins look a bit dim!

If I forged a load of £50 notes - then... well they'd be a little harder to shift wouldn.t they? I mean who pays with a £50 note these days?

If I forged a £500 note I'd be a bit stupid right?

How about a £1234 note???

But people are out there forging $500M notes and selling them on? Presumabley they are , or they woudn'e be doing it!!!!

I ean whats going on??

How Frazzled on coke does a banker need to be to part with $500 + for a piece of paper?

They where quite happy to issue billions on over inflated mortgages so I really don't think it's too hard to believe that someone would buy these.

Don't forget mostly it's about trust.

The Million Pound Note - 1954

If people believe it has value it can be very useful in securing debt.

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Officials said Wednesday that U.S. officials confirmed the bonds were counterefeit

So what is the difference between these bonds and the ones issued by the US government- both would appear to be backed by nothing, both the product of merchants of questionable probity. :D

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I know absolutely nothing about this, but from my 20 years of watching crime movies, perhaps these bonds are copies of real bonds held in Swiss bank accounts. The fake bonds are made in Italy by the mafia and shipped to Switzerland where they are swapped for the real ones by an insider?

Whatever the case, it must be something wierd like this, as you can't really get change from a 500 million USD bond from your local chippy.

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  • 295 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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