Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Fiat Ponzi

Like Tree1Likes
  • 1 Post By PMBug

Reply
 
LinkBack Thread Tools
Old 02-14-2013, 06:53 AM   #1
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,027
Liked: 2449 times
Red face Bearer bonds in the basement soaked by Sandy?

I missed this story a few months ago:
Quote :
It’s the biggest mystery on Wall Street.

Hurricane Sandy floodwaters inundated a 10,000-square-foot underground vault downtown, soaking 1.3 million bond and stock certificates — including bearer bonds that function like cash — and putting them in danger of turning to mush.

A contractor working for the vault owner, the Depository Trust and Clearing Corp., is feverishly working to restore the paper.

But the value of the threatened notes under 55 Water St. remains unknown to all but the innermost circle of Wall Street bankers.

One source said $70 billion in bearer bonds were in jeopardy.

DTCC — a depository controlled by the biggest financial firms on Wall Street — won’t say exactly what was in its vaults, how much the notes are worth, and who owns what.

Most of its member firms, including Deutsche Bank, JP Morgan Chase, Bank of America, UBS and Citi did not return calls.
...
http://www.nypost.com/p/news/local/m...wSBvWbYgSIoflJ
Unbeatable likes this.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 02-14-2013, 07:03 AM   #2
Jay
Yellow Jacket
 
Join Date: Jun 2012
Posts: 1,511
Liked: 671 times
I remember the story. "fishy". Kinda like WTC 7 that didn't exist, with all the SEC records, etc. Ask ten people on the street how many towers fell Sep 11, and they will all tell you 2. We are toast. I got called on the carpet at work for making stuff up. Everybody knows there were only two towers.
Jay is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Hurricane Sandy... ancona STS 3 10-25-2012 08:02 AM
Gin-soaked raisins Unobtanium STS 1 06-21-2012 08:23 PM
Rumor: India considers gold-backed bonds bushi PM Bug 2 05-16-2012 09:12 AM
Why do people by U.S. treasury bonds? benjamen Fiat Ponzi 3 04-30-2012 08:22 AM


All times are GMT -5. The time now is 08:51 PM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.