$3-trillion fake federal bank notes seized from 2 Britons

[seemslikeadream]

$3-trillion fake federal bank notes seized from 2 Britons
By Evelyn Macairan
The Philippine Star 04/22/2005

The National Bureau of Investigation (NBI) announced yesterday the arrest of two British nationals who were caught in possession of $3-trillion fake US federal bank notes in an entrapment operation.

Charges of forgery and illegal possession of bank notes were filed against Paul Edward John Flavell and Sam Beany, both residents of the CEO Apartments located on Jupiter street, Makati City.

Manuel Eduarte, head agent of the NBI Anti-Graft Division said charges against the suspects were filed before the Makati City Prosecutor’s Office last April 15. The two were granted temporary liberty after they each posted P16,000 bail last Tuesday.

However, NBI Director Reynaldo Wycoco said he has coordinated with the Bureau of Immigration and requested that the two suspects be included in its watchlist.

more
http://www.philstar.com/philstar/News200504226302.htm

[LiberalVoice]

1. I wonder how authentic the bank notes looked?

I mean 3 trillion bucks in forged notes is just sick! :wow:

[seemslikeadream]

2. Here's a picture from another source

http://www.abs-cbnnews.com/topofthehour.aspx?StoryId=3274

[LiberalVoice]

3. wow n/t

[Festivito]

13. I think think that abs-cbnnews used the WRONG picture.

The reporter wrote federal reserve notes, but certainly did not mean US currency notes. Rather treasury notes or certificates, in large denominations.

http://www.whatreallyhappened.com/archives/cat_current_events.html#030345

Strange reporting all around. One report noting 13 boxes in one iron box(each of the 13 contaning 50 notes), another noting several iron boxes. Go figure.

I think it sounds like $100,000 certificates? That would be fifty iron boxes, each with 13 * 50 certificates. A better guess might be million dollar certificates in five iron boxes.

[Tandalayo_Scheisskopf]

4. That is a big operation.

If I were an investigator, I would be looking into:

1. Who are their known associates?

2. Where have they traveled to/from in the last year.

3. Is that their real names?

But I am sure someone already is doing so.

On edit: Zurich. Curiouser and curiouser.

[Bigmack]

5. Thinking ahead!

Those dudes are just thinking ahead.

They could be planning to come to the US in two or three years, and by then $3 trillion ought to just about cover the dinner check!

[KansDem]

16. Yeah, or a tank of gas! (nt)

[AuntiBush]

6. Aww. Now we know where those IOU's were stashed.

All kidding aside. Nothing surprises me anymore. Now, that's truly sad!

[MrPrax]

7. 3 trillion at a hundred dollars a pop?

That is a hell of a lot of paper currency...

This is 87 billion single dollar bills...?


It is 100 feet tall, 250 feet long, and 125 feet wide. A stack of singles would be 28,998,000 feet, or over 5,492 miles, or a round-trip between Washington DC and Los Angeles, California. (2,650 miles, one-way).

or...

$1 billion is one thousand million dollars or $1,000,000,000.

A four-inch stack of dollar bills amounts to $1000. A billion dollars would be a stack of dollar bills 62.5 miles high. (President Reagan used a similar illustration back in 1981. He was talking about thousand-dollar bills and trillions, but that was before he added the second trillion to the national debt.)
http://www.sustainer.org/dhm_archive/search.php?display_article=vn167billioned

[CJCRANE]

9. It is somewhat excessive...

It's gotta to be virtually impossible to spend or deposit that amount of cash (even in a Swiss bank account).

I mean, that is more money than used in most of the world's economies. Is it a typo or not US dollars?

[ugarte]

8. I tried to pass a $3-trillion note once at Wal-Mart

and the jerky kid said he didn't have change.

[D-Notice]

10. From Whatreallyhappened.com

Note that this isn't the bank notes you have in your pocket, but federal bank reserve certificates. IMHO someone was getting ready to trigger a banking system collapse.
(No link sorry it's just their comment on the front page)

[Tesha]

12. The other possibility is some billion/billion confusion.

In older British English usage, a "billion" is 1,000,000,000,000 (what Americans call a "trillion".)

1,000,000,000 (an "American billion"), by comparison was called a "milliard".

Perhaps somewhere along the way someone slipped up on this.

Tesha

[Festivito]

15. If old English trillion used. 3T$ would be 50-billion X the US 1934 GDP.

Even the lower American trillion puts this amount of borrowing laughably high. 1934 GDP 66B$. These notes, 3000B$.

The old English trillion would be the American quintillion. 18 zeros. The current GDP is only 11.7T$, Amrican trillions. Eleven followed by 12 zeros.

These forgers must be better at execution of art than thought.

[DoYouEverWonder]

11. So they let these guys out on bail?

I hope they didn't pay in cash.

[DS1]

14. This what happens when you hire a printer with OCD

:D

[emad]

17. CEO....Jupiter Street??????Maybe astrology freaks thinkin' they'd

got lucky?

[muriel_volestrangler]

18. Weird mathematics involved here

The NBI recovered from Flavell and Beany a metal scroll and fake US federal bank reserves totaling $3 trillion, which were contained in an iron chest.

There were 13 boxes in the chest, each containing 50 reserve notes that amounted to $1 billion.

Eduarte said the notes were definite forgeries since the biggest amount the US government came out with was in the denomination of $10,000.

If that means that there were a total of 13 * 50 = 650 reserve notes, then if the value was $3 trillion, the average value of a note was about $5 billion.

Who the hell thought they would be able to pass a fake $5 billion note?