Friday, February 17, 2012

Bizarre story about trillions of fake US bonds

It should be very easy to determine if US Treasury bonds are real or not. The recent ones would all have CUSIP numbers and be in electronic form. The older bearer bonds have all matured, but there may be $100 million or so of them outstanding. 

So how could there possibly be trillions of US bonds floating around?  Could there be secret bonds that were issued?  The bonds that were seized were all dated 1934.

Here are the bizarre stories:  
$6 Trillion In US Bonds Seized In Zurich, Said To Pose "Severe Threats To International Financial Stability"
Why Were The Trillions In Fake Bonds Held In Chicago Fed Crates?

Now read this:
"[In the 1920s] each country that handed over its gold -- and / or had its gold forcibly taken -- was given certificates of deposit, or bonds, in exchange for what they gave up. The bonds were issued by the Federal Reserve, through their various banks in major cities of the United States.  These bonds were considered to be as valuable and as redeemable as cash. The problem was that the Federal Reserve printed vastly, vastly, vastly more money in these bonds than existed in the open, honest economy -- trillions upon trillions of dollars' worth, beginning in the 1920s."

So might it be possible that the bonds were actually real, and the Fed is lying about them being fake?

Stranger and stranger.  There is an allegation that the Kuomintang took the entire amount of China's gold reserves in the 1920s, to keep it from being seized by the Japanese.  Some of this gold was shipped to the US in exchange for trillions in bearer bonds, that were placed in special wooden boxes.  Some of these bearer bonds came under the control of the "Dragon Family".  However, the Fed refuses to honor them.  There was a lawsuit filed about this, by one Neil Keenan.

This sounds like the plot of a spy novel.

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