Italy police seize $6 trillion of fake U.S. T-bonds
POTENZA, Italy | Fri Feb 17, 2012 10:02am EST
POTENZA, Italy (Reuters) - Italian police said on Friday they had seized about $6 trillion of fake U.S. Treasury bonds in Switzerland, and issued arrest warrants for eight people accused of international fraud and other financial crimes.
The operation, co-ordinated by prosecutors from the southern Italian city of Potenza, was carried out by Italian and Swiss authorities after a year-long investigation, an Italian police source said.
The fake securities, more than a third of U.S. national debt, were seized in January from a Swiss trust company where they were held in three large trunks.
In 2009, Italian financial police seized $742 billion of fake U.S. bearer bonds in the northern Italian town of Chiasso, near the Swiss border.
http://www.reuters.c...E81G11620120217
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5 replies to this topic
#2
zephyrprime
Black Bear Posted 17 February 2012 - 04:13 PM
This is fricken crazy. How many fake bonds exist out there?
#3
qqqbear
Grizzly Bear Posted 17 February 2012 - 04:16 PM
This is fricken crazy. How many fake bonds exist out there? All bonds in the world.....~$100T #4
murray
Black Bear Posted 17 February 2012 - 06:32 PM
The real ones aren't much better than the fake ones.
#5
SuperCycleBear
Grizzly Bear
Posted 17 February 2012 - 07:17 PM
------------------ All bonds in the world.....~$100T The intrinsic value of the fake and the real bonds is identical.
There is symmetry in most things. In the markets, the greed on the way up is equal to the fear on the way down.
SCB #6
Lee Adler
Editor and Publisher
Posted 17 February 2012 - 08:01 PM
Italy police seize $6 trillion of fake U.S. T-bonds Fake as opposed to what? 0 user(s) are reading this topic0 members, 0 guests, 0 anonymous users |
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