Italian anti-mafia prosecutors said they seized a record $6 trillion of allegedly fake U.S. Treasury bonds, an amount that’s almost half of the U.S.’s public debt.
The U.S. embassy in Rome has examined the securities dated 1934, which had a nominal value of $1 billion apiece, they said in the statement. Officials for the embassy didn’t have an immediate comment.
- There wasn’t anywhere near $6 trillion in bonds available dated in 1934.
- Any bonds dated from 1934 would have long-since matured (30 years was the longest maturity period in US history) which makes the claim even more farcical.
But it gets better.
The individuals involved were planning to buy plutonium from Nigerian sources, according to phone conversations monitored by the police.
Plutonium is not naturally-occurring. It is only produced by nuclear activity in a reactor — specifically, by the bombardment of U-238 (naturally occurring) with neutrons (not naturally-occurring in the quantity required.)
Nigeria has dabbled with joining the nuclear club for power production but does not have the infrastructure to have produced what these people were allegedly going to buy, and certainly not in the quantity implied by the amount of bogus “bonds” involved.
There is an interesting tie in this story however, if you look at my previous posting on possible fraud within HSBC:
The financial fraud uncovered by the Italian prosecutors in Potenza includes two checks issued through HSBC Holdings Plc (HSBA)in London for 205,000 pounds ($325,000), checks that weren’t backed by available funds, the prosecutors said.
Hmmmm…. now that is interesting.
Could we have some truth here please?