LOL, 'Bom, I couldn't figure that out for a few minutes, but then I went Military and "got it"
Here are some cut and paste comments from Beck's radio show transcripts. Don, could you shed some light on this and explain it in layman's terms? These bonds are treasury bonds and come in 500 million dollar chunks, so he makes some good points about, if these are fake, how are you going to sell them, etc..
"These are $500 million bonds with the certificates attached, which means the when you buy a bond, you get like a certificate and you tear off the certificate when you sell them and then they verify the certificate and say, okay, they call the treasury: Is this a real bond? It's bond number 11007. "Yes, it is." Great. If you are going to fence bonds, you are going to fence bonds that you think you can get away with it. You know, you are going to fence them and, for instance, North Korea, when they were printing bonds we've caught them before trying to print our treasury bonds. When they printed them, they printed Kennedy bonds, when Kennedy was in office, and they got caught. They were printing I think million dollar bonds. They got caught because on the back they put a picture of the space shuttle and everybody was like, what? There's no space shuttle. I mean, that's how we caught. They were that dumb, okay?
Here's the problem. There have been $500 million bonds before, but they couldn't be very old. They could have been Kennedy bonds, which they appeared to be. Nobody bought a $500 million bond. Those were only government bonds. Some government would have had to buy a $500 million bond. If the certificates were attached I'm a little fuzzy on this one, but it's my understanding that it wouldn't have taken a long time to figure out who the bonds belonged to because there are so few of them, and you can just call up and get the serial number and you'd know exactly who they belong to. It's my understanding, though, with everything attached the way they were that these bonds, there is speculation of several things.
First of all, let me tell you what the treasury has said today. The treasury came out today and said these bonds and I want to quote are clearly fakes. Two days ago they wouldn't release any information because they said it was an ongoing investigation. Today when we asked them, they said these are clearly fakes. Well, if they're clearly fakes, why did it take you ten days to discover they were clearly fakes? And why did last week people say that they were so good that it was hard to tell the difference between the two? Now, maybe clearly fakes because they were $500 million. That would make them clearly a fake. Or would it? Here's the conundrum that people that I have talked to that know this world have said.
With the understanding that North Korea was so incredibly stupid that when they counterfeited, they didn't put the Apollo on there. They put the space shuttle on there. So maybe they are this stupid. But if you are trying to flood the market with fake U.S. bonds, the idea is you've got to flood the market. You've got to get all of this money out into the system. Who do you fence a $500 million bond to?
Now, let's just say you get, you know, you get a tenth of it. Who's going to spend that much money? Who's going to spend $10 million, $100 million on one bond without checking it, without at least saying what are the serial numbers here?" If you are trying to fence, you are going to do something like a million dollar bond because you could get somebody to roll the dice for 100 grand. But a $500 million bond? And how does that person you are dealing with the underworld. You are going to sell somebody a $500 million bond. You don't think they are going to come after you and kill you? The stakes are just overwhelming. They are just enormous. Now, maybe North Korea is this stupid where they are printing a $500 million bond, but you've got to be one of the dumbest groups of people of all time.
Again, the information that we have, and it is very sketchy. They say that these are really well done bonds. The story up until this morning was they were so good that they had to have been done by a government with a government style printer. This is not something that you or I could just put into the Xerox machine. We couldn't just make these bonds. This was a big effort to make these bonds look real. Well, now they are saying that these are clearly fakes, today, the story changes. Who are these people? Who are the two Japanese men? Where did this originate? Show the bonds. Why wouldn't the government come out and show the bonds? Why wouldn't they want to be very, very clear and show everybody, show the world that, A, somebody is printing bonds and they are making them obviously fake, so here's what you look for. If they were good fakes, you might hold back just a bit because, you know, you want to have a good story so you can tell people and you know exactly what it is, or you want to catch the people first. If they're bad fakes, you would show them and say these are out there and these are people trying to do this but this is so clearly a joke, yada, yada, yada, yada.
Because this hurts the confidence in the bond market which, again, is the only thing that is our lifeline The minute the world starts to liquidate our treasury bonds or the minute that somebody has made our treasury bonds worthless, you know, besides us, the Fed and the treasury, it's over. Game over. The dollar is worthless. So it doesn't make sense that they are playing their cards so close to the vest. It doesn't make sense that we don't know anything. It made a little more sense when they said the investigation is still continuing and we don't want to say anything. When they said that these bonds, they didn't know if they were real or fake and they were being examined. That took them ten days.
Now to say they were clearly fake and no more information doesn't make sense to me."
