P.I.D. Radio 2/19/12: A Trillion Here, A Trillion There…

SOMETIMES WE come across stories that seem important and connected, but we just can’t get our minds completely around them. Try these on for size.

1. Lord James of Blackheath, whom you might remember for his “Foundation X” speech in 2010 (link opens YouTube video), stated in the House of Lords Thursday (2/16) that he’s been investigating for the last two years an attempted fraud or money laundering scheme, possibly involving the government of the U.S. or the Federal Reserve Bank, in the neighborhood of $15 trillion.  (The 2012 budget of the United States, by comparison, is about $3.8 trillion.)
2. Eight people were arrested in Italy Friday (2/17) in possession of $6 trillion in counterfeit U.S. bonds.  That’s double the size of Italy’s national debt (and again, nearly double the annual budget of the U.S.).
3. A quick look through Google News reveals a number of arrests for trafficking in large quantities of counterfeit U.S. government bonds ($134 billion in Italy, $875 billion in Malaysia, $2 trillion in the Philippines, etc.) over the past ten years.

If we assume that some counterfeiters actually get away with their crimes, we have to wonder: How much phony U.S. debt is out there?  How much of it is in the hands of supposedly stable financial institutions?  Is any of it actually being circulated intentionally by those institutions?  And how does that affect the state of the global economy?

The mind reels.

Also: Whitney Houston, Nicki Minaj, and this year’s bizarre Grammy awards; the Beatles and the Tavistock Institute; the FBI foils its own terror plot — again (and see this 1993 article about how much the FBI knew about the first World Trade Center bombing before it happened); and two women sue a clinic in suburban St. Louis for implanting false memories of Satanic abuse.

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