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Originally posted by Skydancer
If I where to write a Tom Clancy classic I'd suggest that this story might have something to do with Air France flight 447 being shot out of the air to convince the those involved to stop running away with billions in bonds.
One news story -- immediately taken offline -- identified one of the "Japanese" as a notorious con man from the Philippines named Yohannes Riyadi, a.k.a. Wilfredo Saurin, whose associates in international crime are fairly well-known. The other guy may have been his comrade Joseph Daraman. These two men are the right ages, and they both could pass for Japanese. They've been trading in fake documents from the Federal Reserve for years.
Originally posted by reugen
reply to post by mmiichael
Another thread suggest the bonds are real, i think it was a german article in Der Spiegel. If that is true anything above that includes the real deal can be true, most probably its a large country like Japan, China or Russia that is trying to unload some of their us dollar holdings. In the beginning of the thread someone posted official FED stat that shows that only five countries in the world hold more in us treasuries, meh.
The Federal Reserve is aware of several scams involving high denomination Federal Reserve notes and bonds, often in denominations of 100 million or 500 million dollars, dating back to the 1930s, usually 1934. In each of these schemes, fraudulent instruments are claimed to be part of a long-lost supply of recently discovered Federal Reserve notes or bonds.
Originally posted by Hazelnut
Hey everyone, I was reading another post when this came up, reminding me of the Japanese/Bond/Italy story.
Do Kennedy Bills Really Exist?[/url] The poster asks "I've heard a few times in my life that JFK, through Executive Order 11110, gave the US Treasury the ability to issue currency backed by silver, in an attempt to undermine the power of the Fed."
If its determined that the Kennedy Bonds in question are fraudulent then there is another twist to the story of these guys with the false-bottom suitcase.
Update: Italy’s financial police said they asked the U.S. Securities and Exchange Commission to authenticate $134 billion worth of undeclared U.S. government bonds found in the false bottom of a suitcase carried by two Japanese travelers attempting to cross into Switzerland. A determination is expected within a few days.
Two Japanese men are detained in Italy after allegedly attempting to take $134 billion worth of U.S. bonds over the border into Switzerland. Details are maddeningly sketchy, so naturally the global rumor mill is kicking into high gear. Are these would-be smugglers agents of Kim Jong Il stashing North Korea’s cash in a Swiss vault? Bagmen for Nigerian Internet scammers? Was the money meant for terrorists looking to buy nuclear warheads? Is Japan dumping its dollars secretly? Are the bonds real or counterfeit?
The implications of the securities being legitimate would be bigger than investors may realize. At a minimum, it would suggest that the U.S. risks losing control over its monetary supply on a massive scale.......
......Let’s assume for a moment that these U.S. bonds are real. That would make a mockery of Japanese Finance Minister Kaoru Yosano’s “absolutely unshakable” confidence in the credibility of the U.S. dollar. Yosano would have some explaining to do about Japan’s $686 billion of U.S. debt if more of these suitcase capers come to light.....
......On his blog, the Market Ticker, Karl Denninger wonders if the Treasury “has been surreptitiously issuing bonds to, say, Japan, as a means of financing deficits that someone didn’t want reported over the last, oh, say 10 or 20 years.” Adds Denninger: “Let’s hope we get those answers, and this isn’t one of those ‘funny things’ that just disappears into the night.”
The Dallas Morning News February 25, 2008
Federal authorities charged a Dallas woman in connection with a scam to sell billions of dollars in fraudulent Federal Reserve notes, including some with a face value of $500 million.
Maria Victoria Hoffman, 48, and two California men were part of a network that tried to market the fake notes to investors across the country, U.S. Immigration and Customs Enforcement officials said Monday.
"You would think the half billion dollar denomination would be a dead giveaway that these notes are fake, but people are nevertheless taken in," Jennifer Silliman, special agent in charge for ICE's office of investigations in Los Angeles, said in a written statement. "For investors, the bottom line needs to be, if it sounds too good to be true, it probably is."
Authorities say counterfeiting scam artists often sell fake securities to unsuspecting brokers for less than the purported value or in exchange for collateral on a loan.
The bogus $500 million bills, featuring a portrait of President William McKinley, were dated 1934 and doctored to appear old, officials said.
The largest denomination of currency ever printed is the $100,000 Series 1934 Gold Certificate. The bills bore a portrait of President Woodrow Wilson and were not circulated in the general public, officials said.
Ms. Hoffman was arrested at her Dallas home last week, customs officials said. She was released on $50,000 bond and was ordered to surrender her Philippine passport and to submit to electronic monitoring, officials said.
Also charged are Darrell Lee Johnson, 78, a Los Angeles lawyer, and Renato Gaza, 60, of San Diego, a suspected associate of Mr. Johnson's. ICE agents seized nearly 500 fraudulent Federal Reserve notes from Mr. Johnson's home and law office in recent weeks, officials said.
Agent Jones received a package from Ms. Hoffman that included documents and photographs that she offered as proof that she owned two boxes of notes totaling $275 billion, the affidavit said.
The two boxes were being held in Zurich, Switzerland, according to documents the agent received.