$ 6 Trillion Counterfeit

Not sure if you fellow monkeys saw this story, but to say it is bizarre is an understatement. Read the whole thing, it's really short. Anyone have any thoughts of what is going on here?

Looks like Bernanke has a competitor.

Record $6 Trillion of Fake U.S. Bonds Seized in Mafia Probe

http://www.businessweek.com/news/2012-02-17/recor…

 

Woah. Well, I guess you shouldn't be trusting Italian brokers ever again.

"When I was young I thought that money was the most important thing in life; now that I am old I know that it is." - Oscar Wilde "Seriously, psychology is for those with two x chromosomes." - RagnarDanneskjold
 
Grayson:
My favorite part was: "The individuals involved were planning to buy plutonium from Nigerian sources..."

How awesome would it have been if the plutonium they bought ended up being fake? Then they could sell it to Iran, who would make fake nukes, and America would start a war.

 
Romneybot:
Grayson:
My favorite part was: "The individuals involved were planning to buy plutonium from Nigerian sources..."

How awesome would it have been if the plutonium they bought ended up being fake? Then they could sell it to Iran, who would make fake nukes, and America would start a war.

Cool, just like 2003 replace a N with a Q. Wasn't Saddam talking to Nigeria for Uranium? Africa is a nexus for organized crime because the governments are so weak: drugs and weapons are routinely smuggled through Africa, so nuclear material from South Asia isn't a stretch of the imagination
Get busy living
 
heister:
Ok who decided to accept a semi load of bonds printed on paper? That should have been your 1st clue.
Don't know but the article says checks were passed throught HSBC. BWAHAHAHAHAHAHAHA they're fucked

Echo concern over nuclear material above....no bueno

Get busy living
 
UFOinsider:
heister:
Ok who decided to accept a semi load of bonds printed on paper? That should have been your 1st clue.
Don't know but the article says checks were passed throught HSBC. BWAHAHAHAHAHAHAHA they're fucked

Echo concern over nuclear material above....no bueno

Looks like those Nigerian douchebags can't make ends meet by scamming normal people anymore so they have to resort to selling fake neculear materials. Who's the bigger idiot in that case the guy who bought fake material or the guy who got paid in fake bonds? Lol

Follow the shit your fellow monkeys say @shitWSOsays Life is hard, it's even harder when you're stupid - John Wayne
 
Best Response

Thought some of you might find this interesting:

http://www.slate.com/blogs/moneybox/2012/02/17/italian_prosecutors_seiz…

FTA:

In your amazing crime/business story of the day, anti-mafia officials in Italy say they've seized $6 trillion in counterfeit U.S. Treasury bonds.

That is an awful lot of money, considering that the United States' totaly GDP is only $14.5 trillion. You couldn't possibly do anything with that much in fake assets—nobody has enough money to take it off your hands. Interestingly, the release of a huge quantity of counterfeit U.S. Treasuries into the world would have been exactly what the global economy needs right now. We're suffering from a shortage of liquid AAA-rated financial assets at the moment and the U.S. political system is refusing to meet the demand with a surge of new debt. Counterfeit bonds would work just as well as real ones for the sake of repo transactions as long as they were really good counterfeits, and global economic activity would increase accordingly.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 
duffmt6:
Thought some of you might find this interesting:

http://www.slate.com/blogs/moneybox/2012/02/17/italian_prosecutors_seiz…

FTA:

In your amazing crime/business story of the day, anti-mafia officials in Italy say they've seized $6 trillion in counterfeit U.S. Treasury bonds.

That is an awful lot of money, considering that the United States' totaly GDP is only $14.5 trillion. You couldn't possibly do anything with that much in fake assets—nobody has enough money to take it off your hands. Interestingly, the release of a huge quantity of counterfeit U.S. Treasuries into the world would have been exactly what the global economy needs right now. We're suffering from a shortage of liquid AAA-rated financial assets at the moment and the U.S. political system is refusing to meet the demand with a surge of new debt. Counterfeit bonds would work just as well as real ones for the sake of repo transactions as long as they were really good counterfeits, and global economic activity would increase accordingly.

It's funny that you said that. In my mind I was brainstorming all the reasons why someone would actually attempt this - and the repo market came to me too.

 

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