Scary letter from Harry Schultz...

[Brian Hamilton]

Ok my US and UK friends, take a look at what was just forwarded to me. I have done some internet digging and found out it's from a Harry Schultz letter.


"Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and foreboding that 'something' is about to happen ... within 180 days, but could be 120-150 days."


WTF is going on?

 

[Aaron L.]

I hope there's nothing to worry about, then again recent times have not been pointing in that direction.
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[John Milmont]

Maybe this is another piece of the puzzle?

Daily Kos: State of the Nation

You could look at the ForEx and see how the dollar is being traded...

 

[Dave P]

What is the person's motive in sending you this info?

 

[Brian Hamilton]

What is the person's motive in sending you this info?

It was forwarded from one of my extremely conservitive friends who sends me this stuff CONSTANTLY. Most of which I take with a grain of salt, but this one just sounds scary. I did come internet research and it seems pretty credible. I say that meaning I couldn't find any information saying it was a complete falsification and untrue. Not saying I believe it 100%, but as stated earlier, the current trend in the governing unit of this country makes me watch my back.

Although there's nothing I can do about it...

 

[Brian Hamilton]

Maybe this is another piece of the puzzle?

Daily Kos: State of the Nation

You could look at the ForEx and see how the dollar is being traded...

Holy crap!! That's an amazing little story there!

 

[Duncan Potter]

From the NY Times

Too bad the bonds were fake.

“The whole thing is a total fraud,” Stephen Meyerhardt, a spokesman for the Treasury Department, told The Times Thursday. “They don’t look anything like real securities, which in any case were never issued in any of those denominations.”

The highest denomination ever issued by the Treasury Department was $10,000, he said. The Italian financial police claimed some of the paper was “Kennedy bonds” from the 1930s, but no such bonds ever existed. And the total of Treasury bearer bonds still outstanding is a mere $105 million; the Treasury has been issuing bonds in electronic form since 1986.

But none of this has stopped the rumor mill from grinding away. After reports of the seizure began to trickle out of Italy, the blogosphere sprang into action, the ponderings fueled by suspicions that the mainstream media was willfully ignoring the tale.

The story took on greater life after Italian authorities — who have refused to talk about the scandal — declined to declare the bonds fakes until they were examined by Washington. After all, although the Guardia di Finanza suspected the bonds were false, if they were not, the Italian treasury stood to profit from a law that permits the government to pocket up to 40 percent of the total value of cash or securities smuggled into the country over the legal export limit, which is 10,000 euros.

Repeated telephone calls to the prosecutors’ office in Como, Italy, that is handling the investigation were not returned, The Times said.

Darrin Blackford, a spokesman for the United States Secret Service, which was contacted by the Italian financial police and the prosecutor’s office to determine the “legitimacy of the seized financial instruments,” said that his agency had verified the bonds were “fictitious instruments and were never issued by the United States government.”


Still would like to know the backstory!

 

[John Milmont]

I read that they were fakes as well. After i read that, i was thinking to myself 'well, that explains it' but the more i thought about it, the more i realized some things didn't add up. I don't want to sound like some crazy conspiracy theorist but...

What doesn't make any sense is, did these Japanese guys think they were just going to get away with 134 billion dollars when a simple phone call to the us treasury could verify the legitimacy of the bonds?

Would the US government ever admit that the bonds are real in this type of situation?

Who were these Japanese guys? And what has happened to them?


So now i don't know what to think about this whole thing.

 

[Jack]

Something fishy with the whole thing..

 

[Mike Christian]

the sky is falling

 

[Jack]

Like Duncan said, the backstory would be interesting...

 

[Duncan Potter]

If they were on official business from the Japanese Treasury I would have assumed they would have flown into Geneva with the bonds in a diplomatic pouch, which would have been exempt from scrutiny.

While I agree that there is an interesting story here, I don't think it's that the Japanese government is dumping US bonds.

But I could be wrong.

It should be easy to check if there have ever been any US bearer bonds issued in those large denominations, though I'm too lazy to do it myself.

My guess is that they were trying to run a scam on someone, maybe posing as the Japanese government.

 

[Scott Calabro]

Strange Inconsistencies in the $134.5 Billion Bearer Bond Mystery -- Seeking Alpha

 

[Paul Brameld]

Strange Inconsistencies in the $134.5 Billion Bearer Bond Mystery -- Seeking Alpha

Hey this story just won't lie down. If you follow Scott's link there seems to be so much going on outside the mainstream news, it's spooky. I don't think we have heard the last of this.

On a lighter note (?), in one of the links (below) there is a video clip of a Japanese Finance Minister at a G8 press conference a little the worse for wear.
Cannot imagine the Badger performing like this! Obviously he is just suffering from Jet Lag!

Gerald Celente Blog: The 2 Japanese arrested are employees of the Japan Finance Ministry

 

[Paul Brameld]

Strange Inconsistencies in the $134.5 Billion Bearer Bond Mystery -- Seeking Alpha

This whole saga reminds me of a recent mail I received that seems a little more relevant now!

Economic Lesson That Even I Can Understand !!!

It is the month of August, in a quaint, historic resort town. It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody is living on credit. (Or for some, on what they can steal. But that's another story.)

Suddenly, a rich tourist comes to town.
He enters the only hotel, lays a 100 dollar bill on the reception counter, and goes to inspect the rooms upstairs in order to pick one.
The hotel proprietor takes the 100 dollar bill and runs to pay his debt to the butcher.
The Butcher takes the 100 dollar bill, and runs to pay his debt to the pig raiser.
The pig raiser takes the 100 dollar bill, and runs to pay his debt to the supplier of his feed and fuel.
The supplier of feed and fuel takes the 100 dollar bill and runs to pay his debt to the town's prostitute that in these hard times, gave her "services" on credit..
The hooker runs to the hotel, and pays off her debt with the 100 dollar bill to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.
The hotel proprietor then lays the 100 dollar bill back on the counter so that the rich tourist will not suspect anything.

At that moment, the rich tourist comes down after inspecting the rooms, and takes his 100 dollar bill, after saying that he did not like any of the rooms, and leaves town.
No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism.

And that, ladies and gentlemen, is how the United States Government and British Government is doing business today.

 

[Jack]

A classic!