cue the lightning bolts

the only question that matters: is it true?

Iran has signed the NPT. As a signatory to the NPT, Iran may rightfully, legally, use nuclear technology for peaceful energy purposes. Iran has submitted to and passed repeated IAEA inspections. The US intelligence community (NIE) does not consider Iran a nuclear threat. Israel refuses to sign the NPT. Israel has an estimated several hundred undeclared nuclear weapons. Russia and China have warned that an attack on Iran will have global consequences. That's the situation in a nutshell. Where to next, people? Where to?

Have I now become your enemy by telling you the truth? - Galatians 4:16


Whatever this means, it can't be good, unless it means handcuffs and jail for some bunnies very worthy

from Lew Rockwell blog:

From the original article:

Two Japanese nationals were detained by Italian financial police last week after trying to enter Switzerland with $134 billion worth of undeclared U.S. bonds, mostly Treasury bonds, an Italian daily said Wednesday. The Japanese consulate general in Milan confirmed that the detention had taken place and said it was trying to confirm with Italian authorities whether the two were indeed Japanese nationals and their identities.

According to the report in il Giornale, two unidentified Japanese in their 50s concealed the bonds, including 249 U.S. Treasury bonds each worth $500 million, in a suitcase with a false bottom that was searched by the Italian authorities June 3 when they were in Chiasso, at the border with Switzerland, about 50 kilometers north of Milan. The daily did not say on what charges they have been detained, but the two may have been detained on suspicion of attempting to take a large amount of securities out of Italy without declaring it because the paper said they had not declared the bonds.

This is very significant news, because, as Michael Barnett writes in an email, one of the following must be true:

1. The Japanese are trying to secretly divest themselves of about 25% of their US debt. (They own about $600B in US debt.)

2. The Japanese are acting as Chinese or North Korean agents in trying to help them divest themselves of US debt in secret.

3. There is an enormous sum of counterfeit US debt out there and these guys are trying to sell some of it.

None of these cases bodes well for the US debt market.

More at Market Skeptics, including this:

My reaction: The US media is deliberately missing some major stories.

1) Italy's financial police has seized US bonds worth US 134.5 billion from two Japanese nationals at Chiasso (40 km from Milan) on the border between Italy and Switzerland. They include 249 US Federal Reserve bonds worth US$ 500 million each, plus ten Kennedy bonds and other US government securities worth a billion dollar each.

2) These seized bonds have big implications:

A) If they're real, some government is trying to unload large quantities of US securities.
B) If they're fake, this is arguably the biggest counterfeiting operation ever, by a factor of many times.

3) The international media had a big laugh over Treasury Secretary Geithner's visit to China.

4) Geithner's indifference to the dollar's collapse signals that the greenback is being ignored and that further weakness can be expected.

h/t also to Cryptogon and Pimpin Turtle

1 comment:

marxist-socialist said...


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The website is very dangerous to the world socialist movements. They are set up by capitalists and by Israel. The members of Revleft are a bunch of retarded liberal kids with an anti-capitalist fetish. They spend a lot more time getting into mischief like doing drugs and going to heavy metal and punk-rock concerts than actually fighting capitalism. Revleft was set up by the ruling classes in order to discredit genuine left-wing organizations.

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