Tag Archives: border

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$134.5 Billion Treasury Bonds Seizure: US Gov't Says Forgery, But Dollar Value Called Into Question

Updated June 24, 2009 (Updates are in blue font.)

On June 16, I wrote about a story covered on Glenn Beck’s Fox News show regarding the seizure of $134.5 billion in US Treasury bonds that occured last week on the Italian border.

According to the most recent reports, the seizure actually occurred on the Italian – Swiss border.

At that time, some of the details were rather sketchy.

Just Click the Picture to Read the Post
Just Click the Picture to Read the Post

I found more information on this event today. As is curiously and increasingly the case, the additional information came from a news outlet in Great Britain. The UK Telegraph had a lengthy article on the matter on June 20.

Besides reporting that the US government has since stated that the seized bonds are confirmed forgeries, the article reports extensively on one of the elephants in the room.

The room is the United States and this elephant is the value of the US dollar.

Just Click on the Picture to Read the Article
Just Click on the Picture to Read the Article

It’s a fairly comprehsensive article.  One element of it, in regards to the recent bond seizure, that seems glaringly obvious and is pointed out by Glenn Beck’s guest is the fact that the bonds could only have been counterfeited by a sovereign nation, a government.

The circumstances of the seizure seem to bear out this theory. If a Mickey Mouse operation had produced them, it would have likely been touted as a hoax from the start.  Perhaps it is just that the US government was only being tight-lipped.  Although that is possible, it seems somewhat unlikely. It’s no secret, as indicated by the UK Telegraph story, that the financial markets are keenly aware that the dollar is in trouble.

However, perhaps I am expecting too much from a U.S. Treasury Department that has given me no reason to believe that it is competant.

In any case, the whole episode only brings the whole question of how dire our financial situation is into sharp focus.

http://www.newser.com/story/62301/134b-bond-fraud-may-be-mob-handiwork.html

$134.5 BILLION Dollars in US Treasury Bonds Seized on Italian Border: Is it Sabotage?

This story is getting NO play in the media, except for a report from Glenn Beck. A staggering sum in US Treasury Bonds was seized on the Italian border, which is an amount, whether or not they are counterfeit or authentic, that could only have been held or produced by a sizable government, as is pointed out in this clip:

Rewind to February and Rep. Paul Kanjorski on C-SPAN setting the record straight on the September financial crisis and TARP timeline.

There are quite a few stunning statements in the clip, but the one that struck my memory when I heard about the treasury bonds was the electronic run on the banks on September 15, which like the bond seizure got zero play in the news:

Are these “incidents” related? It’s difficult to say, particularly so when no one wants to report on it.  It seems to me that if I owned a media outlet, I’d be doing a little investigatory reporting on this.

Update:

This story, besides the obvious security threats, has everything to do with the value of our currency, which is precarious due to the unsustainable spending, borrowing, and printing that’s been going on for too long and increased exponentially since the fall of 2008.

To those of us who realize how much money has been spent, borrowed, and printed just in the last six months, it comes as no real surprise when other nations start calling for moving away from the dollar. Unfortunately, we’ve expected this to start any minute.

There was some talk about this earlier this year and around the time of the G20 Conference.

Just today, Russian President Medvedev called for a new reserve currency. I wonder if any of us understand the full implications of the world going off of the dollar.

We don’t have two more cents to spend, yet there is a blizzard of bills sitting in Congress as I write this proposing to spend billions of dollars. The President’s Health Care program is reported to require over $1 trillion in new spending.

We’re broke, hanging on the edge of a financial cliff. Everyone reading this should write, call, and email their representatives and tell them to stop spending Monopoly money!