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They knew they were fake because they paid better...
I'm not sure why the authorities even worry about counterfeit anymore. I thought that the whole idea is to flood the economy with new paper. The counterfeiters are just trying to help, and their paper is probably just as good as the real thing anyway. Maybe even better!
"I'm not sure why the authorities even worry about counterfeit anymore."
I don't either - they have enough people who continue to encourage them to act like counterfeiters. _________________
That said, the story is very concerning, and it's hard not to believe that there's a world more to this story than what's being told, especially given where they were stored: Why would anyone go through the process of forging bonds from decades ago in gigantic numbers and storing them in boxes that look like this:
Instead of making a big deal out of it they should have just divvied the pile up between Greece, Portugal, Spain, Ireland and Italy. Would have taken care of a whole lot of problems. How do you say "Hey, look what we just found in the basement" in Greek?
Reply to @Old_Joe: They could say this: Εδώ, ο Μπεν μόλις τυπωθούν οι τόνοι του πράσινου να υποστηρίξει αυτές τις "ψεύτικες" ομόλογα που απλά έτυχε να βρουν. Υπάρχει περισσότερο, όταν αυτό ήρθε από..
Also, why is it the Italians who continue to be the ones who happen to find these "fake" bonds? I believe they also found one or both of the prior couple of instances.
Additionally, this was apparently found in POteNZa, Italy
Comments
I don't either - they have enough people who continue to encourage them to act like counterfeiters.
_________________
That said, the story is very concerning, and it's hard not to believe that there's a world more to this story than what's being told, especially given where they were stored: Why would anyone go through the process of forging bonds from decades ago in gigantic numbers and storing them in boxes that look like this:
Pic:http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/01/_58563286_fakebonds.jpg
http://www.zerohedge.com/news/why-were-trillions-fake-bonds-held-chicago-fed-crates?page=1
One of the funnier ZH quotes in the comment section; "I just checked with Paul Krugman. He said "It's all good, It will help the economy."
And finally, the winner from the ZH comments section: "Didn't this show up on 'Pawn Stars' a couple of months ago and Chumlee bought it for $1500?"
Additionally, this is what, the third instance of a major "fake bond" find in the last 12-18 mo?
Also, why is it the Italians who continue to be the ones who happen to find these "fake" bonds? I believe they also found one or both of the prior couple of instances.
Additionally, this was apparently found in POteNZa, Italy
Still awaiting a reply from their government about these we have in a cardboard box.......
http://www.google.com/imgres?hl=en&biw=1336&bih=626&gbv=2&tbm=isch&tbnid=FpGqtwEL9bxJkM:&imgrefurl=http://brucekrasting.blogspot.com/2010/06/hungarian-bond-story.html&docid=VlekwN5qBwsq9M&imgurl=http://1.bp.blogspot.com/_5JJarCb6DPo/TA2h_5wW2oI/AAAAAAAABFc/ldY3kRo0TzI/s1600/kingdom2.png&w=1600&h=686&ei=fto-T6HZC-Gq2QXKvcGJCA&zoom=1&iact=hc&vpx=300&vpy=79&dur=9965&hovh=147&hovw=343&tx=167&ty=77&sig=111527507557431802099&page=1&tbnh=81&tbnw=189&start=0&ndsp=21&ved=0CEoQrQMwAQ
More about bonds this weekend via the Funds Boat.
Take care,
Catch