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In God, not gold, We Trust~ Counterfeiting II
The US Treasury is about to introduce new Ben Franklins on 21 April 2010 because counterfeiting is a $200 Billion a year problem. No kidding.
CNBC just ran an Easter weekend show on American Greed with a guy who used his inkjet printer to print $100 and $20 bills on newsprint, then coated them with hair spray so the counterfeit pens would not turn black.
http://www.cnbc.com/id/35988260/
Hard to believe, but he and his friends passed $7 Million dollars in just a few years to Target, WalMart and others before Banks and the Secret Service caught up with them.
Seems big box retailers lost hundreds of thousands of dollars when the banks realized they were counterfeit and would not credit them.
If you found out your gold is counterfeit, what would you do?
Sell it or buy more?!
The record of every default was lower prices.
Warning; Possible Financial Pornography Alert:
With a possible criminal con that may rival Goldfinger for audacity, Zero Hedge and Ron Kirby posted at least three Presidents may have been involved in a 10,000 tonne high tech gold counterfeiting scheme that operated through Mena, ARkansas, Panama, Hong Kong, London and Russia.
It is a fact one of our Presidents served on the Advisory Board to the world’s leading Gold Producer with the Canadian Prime Minister. This President had a Phi Beta Kappa in Economics and was likely to know what would happen if Uncle Sam kept running up deficits and debts with wars.
That company, until recently, was allegedly heavily involved in Gold Hedging manipulations with mutinational investment banks reportedly too big or politically connected to the Central Banks and their owners to fail.
July 26th, 2011 at 7:51 pm
Neat feed! I received a link to this site from Christian Dillstrom – the mobile + social media marketing whiz – so you must be doing a very good job?