March 3, 2012 By Joseph P. Farrell

Last Wednesday night, Feb 29, 2012, I emailed Jeff Rense, because the week before I had been scheduled to appear on his show, and through crossed wires and my own misunderstandings, missed the appearance. So having penciled in the appearance for last Wednesday, I wrote him and asked if we were still scheduled. He responded saying that we were not, so assuming I wasn't to appear, I went about my business, until I received a call from him about two minutes before the beginning of his second hour, asking if I could come on the show at the last minute as he was unable to make contact with his scheduled guest. So, not wanting to leave a friend in the lurch, I said of course.

On that show, I outlined a speculation about what I thought may be going on with all these fake bonds being seized. In fact, I had just blogged about it here:

More Faked Bonds Seized....Yet again!!!

Just weeks before this latest Italian seizure, there was a similar seizure in Spain of purported gold-backed US Federal Resevre bearer bonds in billion dollar - yes that's right, billion dollar - denominations.  This makes at least three such stories of seized bonds which, were reassured by our oh-so-truthful government, are entirely faked. On the Rense program, I said, in effect, "OK, let's look at that and accept it for the sake of argument." My argument is essentially this: that if these bonds are faked, the mere fact that we have now three separate instances of such enormously-denominated bonds raises certain issues. Let's note the similarities of the latest Italian and Spanish seizures:

  1. Both seizures involved bonds denominated in billion-dollar increments;
  2. The bonds were in both cases dated 1934;
  3. The bonds were supposedly issued by the U.S. Federal Reserve;
  4. The bonds were somehow backed or collateralized with gold; and finally,
  5. In both cases the bonds were allegedly found in large Federal Reserve strong boxes, in the Spanish case, from the Federal Reserve Bank of Dallas, and in the more recent Italian case, the Federal Reserve Bank of Chicago.

In other words, someone had gone to a lot of trouble and expense not only to fake the bonds, but also the strong boxes. And this raises the first point I made on Jeff's show, and one which I reiterated in a paper on the Spanish bond episode in a white paper in the members' area on this website, namely, such an operation implies effort and organization, and could not exist if there were not some sort of market for such securities, and that implies that indeed, some sort of securities instruments may in fact really exist.

Now at this juncture, the reader will have noted that such enormous sums of allegedly gold-backed securities implies an equally enormous stock of gold bullion. The problem, as Lord Blackheath in the U.K. has pointed out - and you can google him on YouTube and see his speeches before the House of Lords outlining this problem - is that such sums exceed the officially reported estimates of the available tonnage of gold mined in human history! IN fact, such sums massively exceed the official estimates. In Lord Blackheath's version of the story, the vast sums of money are in the hands of a private group which he calls "Foundation X" which were being made available to the British Government to expand infrastructure projects in the kingdom. Thus, even in Blackheath's version, one is dealing in effect with a breakaway group with hidden mechanisms of finance.

Now, assuming once again that there does exist such a hidden market of secret securities, the question then is: where is all of this gold coming from. On Rense, I speculated that this was represented in part by (1) the bullion looted by the Nazis during World War Two, and (2) the bullion and gems looted by the Japanese during operations in China and Asia during World War Two, and buried in the Philippines.

So then the question becomes, who is doing this? Who might have knowledge of these hidden bullion stocks and secret U.S. securities issued upon it? The answer is, from the context, rather clear: The Philippinos, the Japanese, and the Chinese. Interestingly enough, most official versions of these fake bond seizure stories do indeed finger or imply some sort of counterfeiting rings in Asia as being responsible. And of course, the other possibility is some sort of Fascist International.

So we come to the final question: What are these bonds for? On the view that they are fake, then as noted above, they couldn't exist without a market for them, implying that the counterfeits are of something that actually genuinely exists. Thus, on this view, whoever is issuing the counterfeits may be doing so to send messages to the real issuers of this hidden financial structure, the message being in effect: We know about this, we know who you are, and we can counterfeit these securities.

But on the view that the faked bonds - and again, we need to ask, do we trust the official explanations? - represent something real, then what are the real ones for? Given the vast sums involved, and given the span of time involved, my conclusion on Rense was that we may be looking at a hidden funding mechanism for a breakaway civilization along the lines of Mr. Richard Dolan's hypothesis. The scales of the funding would represent something requiring enormous expenditures, and the only thing on that scale that would seem to make sense, as I speculated on Rense's show, is a massive effort in outer space, and hidden technologies for the same. One need only recall British hacker Gary McKinnon's hacking into US defense computers and discovering, according to him, indications of a vast though very secret American space program.

Of course, there are many other possibilities, many other scenarios, that one might envision surrounding these allegedly fake bonds and who is behind them, and what they may really represent. But as Jeff Rense himself pointed out on that show, some people attempting to cash these in for pennies on the dollar - which apparently was offered by the U.S. in some instances (and why cash such bonds for any amount at all, unless there is something behind them?) - end up conveniently dead. This story, and whatever it represents, is something significant, for a British peer to take notice, for all the effort being expended in Italy and Spain to seize the faked securities, and for all the effort thanh has gone into concocting them in the first place. Alternative scenarios there are a plenty, this is but one possibility....

See you on the flip side.