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Government Creating Phony Crisis So They Can Pretend To Save Us

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Peter Schiff gives his take on the the Government shutdown.

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$6 Trillion in Fake Bonds Found Down The Back Of The Sofa

Comments Off on $6 Trillion in Fake Bonds Found Down The Back Of The Sofa

Bloomberg have run a story of Italian authorities arresting 8 people in relation to $6 trillion of US Treasury bonds found in Zurich as you do. The bonds dated back to 1934.

The bonds were found hidden in makeshift compartments of three safety deposit boxes in Zurich, the prosecutors from the southern city of Potenza said in an e-mailed statement. The Italian authorities arrested eight people in connection with the probe, dubbed “Operation Vulcanica,” the prosecutors said.

The financial fraud uncovered by the Italian prosecutors in Potenza includes two checks issued through HSBC Holdings Plc (HSBA) in London for 205,000 pounds ($325,000), checks that weren’t backed by available funds, the prosecutors said. As part of the probe, fake bonds for $2 billion were also seized in Rome. The individuals involved were planning to buy plutonium from Nigerian sources, according to phone conversations monitored by the police.

The fraud posed “severe threats” to international financial stability, the prosecutors said in the statement. HSBC spokesman Patrick Humphris in London declined to comment when contacted by telephone.

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