This could seriously mess with the U.S. financial situation...

[TheHumanAlphabet]

or this is a HUGE criminal activity...

184 Billion in bond attempted smuggling... (http://www.bloomberg.com/apps/news?pid=20601039&sid=a62_boqkurbI)

[OklahomaTuba]

$184 Billion?

That's nuthin, The Squanderer spent that at dinner last night.

[KC//CRIMSON]

Are you two engaged yet?

[OklahomaTuba]

No, we were waiting for you and LAS to get done first.

[TheHumanAlphabet]

This could be serious. The implications are the U.S. secretly sold bonds to fund our debt or that possibly the PRK or some other entity is printing fake instruments to destabilize our monetary system. I would be more inclined to think the latter, but we'll see. I wonder if there will be more about this later - or if it will be hushed up.

[KC//CRIMSON]

No, we were waiting for you and LAS to get done first.


He's not my type, but you and THA seem like a match made in heaven. You're both a few letters short of a Scrabble game, but hey nobody is perfect.

Where are you guys registered, Macy's?

[picasso]

He's not my type, but you and THA seem like a match made in heaven. You're both a few letters short of a Scrabble game, but hey nobody is perfect.

Where are you guys registered, Macy's?

Seriously man. Because they disagree with your politics? You do realize you're the same, 'cept on the other side.

[Vaevictis]

It could be serious.

Either that, or they're just forgeries. (http://online.wsj.com/article/BT-CO-20090618-707082.html)

[KC//CRIMSON]

Seriously man. Because they disagree with your politics? You do realize you're the same, 'cept on the other side.

You sure have a problem with my smartassery lately. I've been ignoring you lately due to our past friendship. Are you the gatekeeper now or something?

Good grief, let it go already...

[yermom]

This could be serious. The implications are the U.S. secretly sold bonds to fund our debt or that possibly the PRK or some other entity is printing fake instruments to destabilize our monetary system. I would be more inclined to think the latter, but we'll see. I wonder if there will be more about this later - or if it will be hushed up.


It could be serious.

Either that, or they're just forgeries.

hmm

[picasso]

You sure have a problem with my smartassery lately. I've been ignoring you lately due to our past friendship. Are you the gatekeeper now or something?

Good grief, let it go already...

Dude, I'm not being a smartass at all. Some of this crap just gets old. I sure as hell don't come here to get an education on politics.
And gatekeeper of what exactly? I just don't suffer from myopia, I know both parties are jacked.

[Vaevictis]

The thing is guys, if these are forgeries, they're so implausible that people would give them serious scrutiny.

$134 billion in bearer bonds? There probably isn't even that much US bearer bond debt outstanding at this point. The last time the US issued bearer bonds was in 1985.

[TheHumanAlphabet]

hmm

your point? I stated that they were likely forgeries. Now to what end - I don't know. We know PRK has been forging $100 bills for some time - they are crazy enough and have the expertise to do something like this. I'm not saying conspiracy, but as a government, if the bonds were a good fake, would you want something like that out there that could destabilize the monetary system?

If they aren't circulated - why the hell forge them and then try to get into Switzerland with them? This is wacked.

[OklahomaTuba]

You sure have a problem with my dumbassery lately.
Fixed (for the sake of accuracy.)
;)

[OklahomaTuba]

Hey Human, check this **** out..

http://market-ticker.denninger.net/archives/1131-Bearer-Bonds-Saga-Resolution.html

Haha, the two were released and let go, now they can't find them? Awesome!

[KC//CRIMSON]

Fixed (for the sake of accuracy.)
;)

You have to be the bride, only the bride would wink.

[Vaevictis]

I'm not saying conspiracy, but as a government, if the bonds were a good fake, would you want something like that out there that could destabilize the monetary system?

The point is that they weren't a good fake. Anyone who knows about bonds knows that the US Treasury stopped issuing bearer bonds in the early/mid-1980's, and that finding US Treasury bearer bonds in denominations of $500M or $1B USD is so absurdly unlikely as to elicit a response similar to the one you would get if you asked someone if they would like to buy the Brooklyn Bridge.

[Vaevictis]

Look (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=adc1HD7mWY4A):


Meyerhardt said Treasury records show an estimated $105.4 million in bearer bonds have yet to be surrendered. Most matured more than five years ago, he said. The Treasury stopped issuing bearer bonds in 1982, Meyerhardt said.

Doesn't jive with my 1985 figure, but it may be that my 1985 figure was in error and it was when the Treasury was last authorized, not when they last did it.

But, the figure that's important is $105 million outstanding. And these guys were peddling paper in denominations of $500 million and $1 billion. Just absurd.


Had the notes been genuine, the pair would have been 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.

I mean, seriously. Two guys on a train constituting the US' fourth largest creditor? Who the hell is going to believe that?


According to the Italian authorities, the seized notes included 249 securities with a face value of $500 million each and 10 additional bonds with a value of more than $1 billion, as well as securities purported to be “Kennedy” bonds. Meyerhardt said no such securities exist.

... and carrying securities of a type that don't even exist.

[StoopTroup]

Didn't they actually sell the Brooklyn Bridge? :D


References to "selling the Brooklyn Bridge" abound in American culture, sometimes as examples of rural gullibility but more often in connection with an idea that strains credulity. For example, "If you believe that, I have a wonderful bargain for you…" References are often nowadays more oblique, such as "I could sell you some lovely riverside property in Brooklyn ... ". George C. Parker and William McCloundy are two early 20th-century con-men who had (allegedly) successfully perpetrated this scam on unwitting tourists

[Vaevictis]

Yeah, basically, you'd either jump on the opportunity because you're a greedy moron, or you'd laugh in their face at the absurdity of it all.

[JLEW1818]

any chance tebow and obama are related??? both saviors.

[sitzpinkler]

any chance The Right Reverend Tim T. Messiah and obama are related??? both saviors.

and this is relevant to the topic of this thread how?

[Collier11]

more relevant than yer post ;)

[sitzpinkler]

more relevant than yer post ;)

yeah, totally

you so got me :rolleyes:

[OklahomaTuba]

You have to be the bride, only the bride would wink.

You sure seem to know a lot about that sort of thing. Does LAS wink at you, or do you wink at "him"?

[TheHumanAlphabet]

Look (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=adc1HD7mWY4A):



Doesn't jive with my 1985 figure, but it may be that my 1985 figure was in error and it was when the Treasury was last authorized, not when they last did it.

But, the figure that's important is $105 million outstanding. And these guys were peddling paper in denominations of $500 million and $1 billion. Just absurd.



I mean, seriously. Two guys on a train constituting the US' fourth largest creditor? Who the hell is going to believe that?



... and carrying securities of a type that don't even exist.

The link Tuba posted stated that there is some quesion whether the number is 105 million or billion outstanding. Just seems to be a descrepancy. The time frame of 1982 or 1985 for the last issuance seems to be accurate.

The two Japanese guys are loose. Either not charged, released or posted bail. Apparently the Italian courts didn't see fit to hold their poassports.

That does seem to be a lot of money/bearer bonds.

An interesting story, one to bury with the interest in Boxer wanting to be called Senator, Barack trying to push healthcare and Fed reform at the same time...

[Collier11]

yeah, totally

you so got me :rolleyes:

youre the one griping about an irrelevant post with an irrelevant post, im just pointing that out :eek:

[OklahomaTuba]

Can we call Boxer a dumbass ****? Wonder if she would be ok with that?

[Vaevictis]

The link Tuba posted stated that there is some quesion whether the number is 105 million or billion outstanding. Just seems to be a descrepancy. The time frame of 1982 or 1985 for the last issuance seems to be accurate.

Bloomberg initially reported it at 105 billion, but then corrected the article to 105 million.

[Collier11]

I just wish we could stone Barney Frank, the country would be a better place for it

[JohnnyMack]

I could be crazy, but isn't this almost exactly how the movie Beverly Hills Cop started out? Didn't Axel Foley's friend get murdered over bearer bonds?

[TheHumanAlphabet]

Bloomberg initially reported it at 105 billion, but then corrected the article to 105 million.

Saw that...But is it "really" a correction? ;)

Too may loose ends on this story, why the hell these guys aren't in jail or stuck in Italy - I wonder.

[TheHumanAlphabet]

I could be crazy, but isn't this almost exactly how the movie Beverly Hills Cop started out? Didn't Axel Foley's friend get murdered over bearer bonds?
yes - I believe you are correct.