Trillion Dollar Forgery

It turns out that when small, Catholic news services report on billions of dollars in apparent US securities seized going between the Swiss and Italian borders, probably it's worth paying attention to--even if the US news services apparently fall silent.

Excerpts:

Italian prosecutors say they have broken up an organised crime ring that was hiding trillions of dollars of fake US bonds.



Worth $6 trillion dollars, the bonds were found in three metal boxes in a warehouse in Zurich.

Italian authorities have arrested eight people and are investigating them for fraud and other crimes.

Prosecutors are not sure what the gang was planning but think they intended to sell the counterfeit bonds.

Investigators, based in Potenza southern Italy, say the fraud posed "severe threats" to international financial security...

Fake US securities have been seized in Italy before and there were at least three cases in 2009.

But this case is on a different scale to previous investigations as the fake bonds have a value equivalent to almost half of the entire US debt pile.

Again--the eerie thing in the previous cases was the almost complete US news blackout about the seizure of the bonds. It was like it had never happened for American viewers.  More from Bloomberg here on the recent seizure.

For a fun read (to represent the entire, and I do mean entire, spectrum of views), we get a conspiracy minded explanation over here.  Do I buy it?  Not without heaps more evidence than is presented.