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$100 Billion of Bonds Seized in Italy...again!

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posted on Sep, 18 2009 @ 12:34 PM

The U.S. Secret Service is examining more than $100 billion of U.S. government bonds confiscated in northern Italy in August, just two months after $134 billion of allegedly fake securities were seized in a nearby town.

The Secret Service is analyzing whether the bonds taken in August may be counterfeit, said a spokeswoman for the U.S. embassy in Rome. Italy’s financial police in Varese, north of Milan, arrested two individuals carrying the securities in a briefcase, according to a person involved in the case.

The two men currently are in custody as prosecutors in the town of Busto Arsizio carry out their investigation, the person said. The seized notes include securities with face values of $500 million and $1 billion, Italian daily MF reported today, without saying where it got the information.

“There must be a well-organized group behind these alleged crimes,” Fabio Polimeni, a Milan lawyer specializing in counterfeiting cases, said.

Italian authorities seized U.S. treasuries on June 4 with a face value of more than $134 billion from two Japanese travelers attempting to cross into Switzerland. The two men later disappeared and the case is still under investigation. The U.S. government bonds found in the false bottom of a suitcase carried by the men were fake, a U.S. Treasury spokesman said June 18.

From what I have seen in the Italian news sites, the government of Italy has never quite dropped the first bond case.

Now we have another one???

What is really going on here?

posted on Sep, 18 2009 @ 12:40 PM
I think a better question should be: How profitable could this be?

I mean, if there is somewhere that will cash faked US Bond notes, I would very much like to know. 2 or 3 million would set me up for life...

posted on Sep, 18 2009 @ 12:41 PM
i would be more interested in what bank in switzerland is taking these. switzerland does have agreements with other countries about money laundering. working backwards from the bank, the paper trail might become more clear.

posted on Sep, 18 2009 @ 01:01 PM
What I find so very disturbing is this is the second time that the $ value of the bonds seized matches almost the same $ value as the following week's scheduled Treasury auction.

the last time, our officials declared the bonds to be fakes from an emailed image. Can I get a WTF???

Will they do the same this time?

posted on Sep, 18 2009 @ 02:46 PM
Its like the Fed is the kid in the candy store running out after he stole all he could thiefs , they are running away with what little of America is left.

Makes you wonder why so many rats are running latley , some are just being shot,..hmmm

[edit on 9/18/2009 by Grayelf2009]

posted on Sep, 18 2009 @ 07:32 PM
reply to post by Grayelf2009

I would say the fed is like a diabetes kid in the candy store who doesn't know he has diabetes. Every lick of a lollipop is one closer to a coma.

posted on Sep, 18 2009 @ 07:40 PM
It makes me wonder how many of these traffickers are successful. Surely some of them must be getting through. And who is cashing them, I wonder?

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