2 Japanese carrying $134 bil worth of U.S. bonds detained in Italy

[David Guyatt]

Has this multiply-updated series been factored in?
http://cryptogon.com/?p=9095

Is the info valid?

Is the source legit?

As noted elsewhere, it's an ex-pat American in NZ with some expertise in IT, fiscal matters (in the interests of full disclosure, I still can't balance my checkbook), sustainable living, etc. who has multiple sources, 'many visitors', and always interesting stuff to read....

It's certainly interesting ED. It may be that the securities are fake. A lot of them are. But then again claiming securities to be fake saves a lot of debt obligations being redeemed. Not all is as it should be.

A case in point is the arrest of three men in Texas a few years ago in July 1991 who were in possession of a whopping large gold certificate ($5 billion) in the name of Saddam Hussein, plus dozens of Series 57 notes of redemption worth trillions of dollars US. The three men had visited the Federal Reserve Bank in Houston to discuss redeeming the certificate. The Fed after discussions wacthed them leave and then called the Secret Service who arrested them for possession of fraudulent securities.

I have papers from the subsequent court proceedings. The principal person arrested was Edison Damanik (who I have written about elsewhere). The witness from the SS was not an old-timer but had been in the service a total of 18 mos and had no experience of tis type of (alleged) fraud. But there were lots of to-ing and fro-ing and political contacts. Ultimately, the US Attorney dropped all charges and the defendant was allowed to leave the country -- with all the Series 57 notes intact, in exchange for signing over the gold certificate to the US government. If you asked the SS/Treasury today they would still maintain the certificate was fraudulent -- but the clincher to the whole story is that clearly the certificate was not exchanged for destruction because in reality it had tremendous financial value. In another case involving the same gentleman (Damanik) in Australia some years later, the Judge ruled that the certificate (a different one but part of the same series) was genuine and released the defendant accordingly.

These sorts of stories don't ever hit the MSM. Damanik btw, was deeply involved with Suharnoe and WWII gold (and other treasure) plundered by the Japanese throughout 12 nations in the far east during WWII. That is the origin of these bullion certificates and the Series 57 notes of redemption.

The sums involved are staggering - even by today's standards.

One of the biggest players in this whole ongoing black metal affair (across the decades) was the Union Bank of Switzerland. Others were Citibank, HSBC and others. But UBS stands out as the guiding hand or, perhaps, "syndicate manager".

I hope this throws some additional light on this curious subject.

edit = spelling error corrected