18 Feb 2012: $6 trillion worth of fake US bonds seized

Major Stories

  • Markets gains show confidence in US and Greece
    • US Stock market is at its highest level since before the Lehmann crisis; S&P has gained 8.2% this year; Dow Jones Industrial average hit a 4-year high; European indices have also rallied
    • US jobless claims have fallen to a 4-year low
    • ECB has injected the continent’s banks with €500 billion worth of loans to ease credit
    • Commodities: Copper is at $3.72/pound; Gold is at $1722/ounce; Brent Crude is at $119.58/barrel
  • EU Carbon targets threaten luxury carmakers
    • Most Bentley cars might bear a €20000 penalty, Bugatti  €40000, Rolls Royce €12500 and Lamborghini €17500; this has come in the light of EU’s new Carbon Emission Targets
    • The aim is to lower emissions from 140g of CO2 today to 130g by 2015
    • Each car maker has their individual targets; most big carmakers are on course for their 2012 targets
  • Fake US bonds seized
    • Italian anti-mafia prosecutors have seized $6 trillion worth of fake US bonds
    • These were found in safety deposit boxes in Zurich
    • These securities are dated 1934, with a nominal value of $1 billion
    • The US Embassy have ‘thanked the Italian authorities’
    • $6 billion is almost half of US public debt and this scam would have posed threats to international financial stability
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