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Counterfeit Treasuries

I found the following story highly entertaining.  It is one thing to counterfeit money, but it is quite another to counterfeit treasury securities without abandon:

A Georgia man is facing mortgage fraud charges after allegedly printing up $1.6 billion in bogus U.S. Treasury bonds and trying to buy a house, officials said…sheriff’s investigators were tipped off Feb. 1 by a lawyer that Norris intended to buy a house using a registered promissory note supposedly certified by U.S. Treasury Secretary Timothy Geithner

The certification by Timmy Geithner takes the cake.  Who is going to write up a story about Bernanke and the rest of the posse creating money out of thin air via the sale of treasury paper?  I think this Georgian has the right idea…

Read the full story here.

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