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Thread: $134.5 in fake government securities: Case closed, sans tin foil hat

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    Default $134.5 in fake government securities: Case closed, sans tin foil hat

    $134.5 billion in fake government securities: Case closed, sans tin foil hat

    Why did the government take so long to comment? Why did government representatives say so little? Why were the perpetrators Japanese? Why did the Italian authorities let them go? Why has the mainstream media said so little about it?

    Using fake government securities to defraud investors is a scam as old as government securities themselves.

    We knew the $134.5 billion in bonds were fake two weeks ago and a week before the U.S. Treasury confirmed this to be the case. How did we know? Simple: the Treasury didn't print bonds after the early 1980s, and all of the bonds printed before then totaled less than $4 billion in face value.

    Fake securities are only illegal if they are used in the perpetration of a fraud or are counterfeits of actual U.S. securities.

    No one stepped forward as the intended buyer, so there was no fraud.

    The fake bonds were not replicas of real U.S. government bonds--were not even remotely similar--so they were not counterfeits.

    Unable to charge the two men with either fraud or counterfeiting, with nothing but a pile of pretty paper, the Italian authorities had to let them go.

    Why were they Japanese? Every country has its share scammers. Japan, too.

    What was the motive for the scam? Who knows? Maybe they planned to use the fake bonds as collateral for a loan. There are too many scams involving government securities to name them all here.

    That's it. That's all there is to it. What were we and the MSM supposed to do while uncovering the facts? Spin conspiracy theories?

    We'll leave that to the Tin Foil Hat crowd.

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    Last edited by FRED; 06-26-09 at 02:25 PM.
    Ed.

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