Comments on: The Italian Job: Border Police Seize $134 Billion in US Government Securities http://www.laprogressive.com/economic-equality/the-italian-job-border-police-seize-134-billion-in-us-government-securities/ Progressive Politics Liberal Politics and Social Justice Mon, 22 Mar 2010 05:00:27 -0700 http://wordpress.org/?v=2.9.2 hourly 1 The LA Progressivehttp://www.laprogressive.com/wp-content/themes/arthemia-premium/images/button.gifhttp://www.laprogressive.com8831Description of your blog. By: Charley James http://www.laprogressive.com/economic-equality/the-italian-job-border-police-seize-134-billion-in-us-government-securities/comment-page-1/#comment-40940 Charley James Mon, 22 Jun 2009 15:22:25 +0000 http://www.laprogressive.com/?p=12479#comment-40940 Thanks, "what," for reading the article. The problem facing counterfeiters is that when they sell the notes, they take a hit against face value because someone else is now carrying the risk. The larger the denomination, the bigger the premium that's charged. This is why, in the US, most counterfeiters do $20 or $50 bills - they're easy to pass and easy to sell: $100,000 in fake Twenties might generate $15,000 in cash from the fence. Meanwhile, a $1-million Fed or Treasury note might fetch only $40,000 or so because it's hard to turn such a large demonination into cash. <i>Charley</i> Thanks, “what,” for reading the article.

The problem facing counterfeiters is that when they sell the notes, they take a hit against face value because someone else is now carrying the risk. The larger the denomination, the bigger the premium that’s charged. This is why, in the US, most counterfeiters do $20 or $50 bills – they’re easy to pass and easy to sell: $100,000 in fake Twenties might generate $15,000 in cash from the fence. Meanwhile, a $1-million Fed or Treasury note might fetch only $40,000 or so because it’s hard to turn such a large demonination into cash.

Charley

]]> By: Pete in FL http://www.laprogressive.com/economic-equality/the-italian-job-border-police-seize-134-billion-in-us-government-securities/comment-page-1/#comment-40933 Pete in FL Mon, 22 Jun 2009 13:32:48 +0000 http://www.laprogressive.com/?p=12479#comment-40933 We haven't heard much about it because Americans can't stand the truth. We have become a nation of sheep, worried more about what our next pair of Nike's will cost than the state of our Republic and its blasé media. In short, we're the Roman Empire in 400AD. We haven’t heard much about it because Americans can’t stand the truth. We have become a nation of sheep, worried more about what our next pair of Nike’s will cost than the state of our Republic and its blasé media.

In short, we’re the Roman Empire in 400AD.

]]> By: What http://www.laprogressive.com/economic-equality/the-italian-job-border-police-seize-134-billion-in-us-government-securities/comment-page-1/#comment-40927 What Mon, 22 Jun 2009 07:04:03 +0000 http://www.laprogressive.com/?p=12479#comment-40927 What are you talking about? How can these bonds if NOrth korean produce $250m for them? My guess base don your story is if they sell them... who with the right mind will buy US$134bn just like that!? Do you know what this vast, sheer number means! The answer is no one. Even for the $500m denomination the answer is pretty much the same... So how they make these US$250m????? What are you talking about? How can these bonds if NOrth korean produce $250m for them? My guess base don your story is if they sell them… who with the right mind will buy US$134bn just like that!? Do you know what this vast, sheer number means! The answer is no one. Even for the $500m denomination the answer is pretty much the same… So how they make these US$250m?????

]]> By: TCinLA http://www.laprogressive.com/economic-equality/the-italian-job-border-police-seize-134-billion-in-us-government-securities/comment-page-1/#comment-40862 TCinLA Sun, 21 Jun 2009 01:13:53 +0000 http://www.laprogressive.com/?p=12479#comment-40862 The reason it isn't reported is it's a fraud. These were created by a cult in the Philippines in 1934. The US Treasury has never issued bonds in the denominations these are, and periodically warns banks not to cash them. This was reported earlier this week at the "How The World Works" blog at Salon. Sorry all you conspiracy theorists, but the world still doesn't work the way you think it does. The reason it isn’t reported is it’s a fraud. These were created by a cult in the Philippines in 1934. The US Treasury has never issued bonds in the denominations these are, and periodically warns banks not to cash them. This was reported earlier this week at the “How The World Works” blog at Salon.

Sorry all you conspiracy theorists, but the world still doesn’t work the way you think it does.

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