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.

Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".


  1. beowulf on March 5, 2012 at 2:26 am

    Oh brother. Come one Joseph, of course they’re fake.
    You understand what gold certificates are? They’re dollars printed by the Dept of Treasury (the “Federal Reserve Note” is a bit a misnomer) that were used to buy gold. Why the US Govt would print billions or trillions of dollars when the nominal GDP (they can’t adjust for inflation ahead of time) was only %60 billion? Remember too, there’s a new series issued for every denomination of Federal Reserve Notes every new Secretary of the Treasury (whose signature is on all of it). If it wasn’t FDR and Morgenthau who issued those dollars, these gold certificates would havea more recent Secretary’s John Hancock (it sounds like something Nixon and his Tsy Sec Connolly would go for, but of course they’re the guys who, wisely, took us off the gold standard).

    Every gold certificate is backed by Tsy-owned gold stocks. If that much money was printed, it’d be backed by an absurd amount of physical gold bullion. $35 an ounce back then times 32500 ounces in a ton. Basically a $1 million per ton, the govt would have to take possession of a 1000 tons of gold for every $1 billion note printed (in fact, Uncle Sam is still the biggest owner of gold in the world, over 8000 tons). Its just as well Nixon and Connolly cut our ties to gold. The dollar is backed by the wealth of the US economy and the productivity of our people. Backing it by a metal whose price can be manipulated by any number of people (including the Secretary of the Treasury, remember who controls the biggest stockpile in the world) was just a bad idea.

    • Joseph P. Farrell on March 5, 2012 at 4:10 am

      With all due respect, (1) you need to look much deeper into the gold matter, and (2) the dollar is NOT backed by the US economy…you’re not looking closely enough…again, with all due respect

    • legioXIV on March 5, 2012 at 1:54 pm

      “Its just as well Nixon and Connolly cut our ties to gold. The dollar is backed by the wealth of the US economy and the productivity of our people. Backing it by a metal whose price can be manipulated by any number of people (including the Secretary of the Treasury, remember who controls the biggest stockpile in the world) was just a bad idea.”

      And the current system where there is debt attached to the money before the ink even dries is any better?

      • beowulf on March 5, 2012 at 10:52 pm

        I take your point that there is no reason for the US taxpayers to pay hundreds of billions of dollars in interest payments on their own money.
        In fact, last year I proposed that Tsy sidestep the debt ceiling by minting platinum coins instead of selling bonds. I was amused to see the idea actually made the news:
        “The idea originated in the lefty blogosphere; FireDogLake writer “beowulf” wrote about this “escape hatch” or “subway tunnel” all the way back in January. Most commentators dismissed it as fanciful. But it does seem to be entirely legal, and is getting renewed attention and a wee bit of credibility as the negotiations drag on. Yale constitutional law professor Jack Balkin floated it as an option in a CNN op-ed this week.”

        Congress has authorized the Secretary of the Treasury (by accident, I think) to issue fiat platinum coins in any denomination or quantity. Gold certificates are another kettle of fish, the Secretary has no legal power to print fiat gold certificates. Every dollar in gold certificates must be backed with a dollar’s worth of gold— at 1934 prices ($35/oz, IIRC, the official Tsy price has since been bumped to $42.22 /oz). Tsy would have to purchase over a 1000 ton of gold for each $1 billion in gold certificates issued. There isn’t enough gold in the world to back all of these fake gold certificates at current market prices, much less 1934 prices. if there’s no gold stockpile in the custody of the Dept of Treasury backing the certificates then they aren’t lawful money even if they were, in fact, printed by the Bureau of Printing & Engraving.
        “The amount of outstanding certificates may be not more than the value (for the purpose of issuing those certificates, of 42 and two-ninths dollars a fine troy ounce) of the gold held against gold certificates. The Secretary shall hold gold in the Treasury equal to the required dollar amount as security for gold certificates issued after January 29, 1934. ”
        31 USC 51167(b)

        Also has an aside, I’ve also heard these instruments referred to as “Federal Reserve Bonds”. In fact, the FRS doesn’t legal authority to sell its own bonds (though in recent years the Fed governors have asked Congress to give them that power), They kinda sort do it now by selling its banks Fed CDs (in monthly tranches of around $5 billion) but for now there’s no such thing as a Fed bond.

  2. Patrick on March 4, 2012 at 2:44 pm

    Nine eleven gold recovered never seems to report tonnage only values as the time…where did that go?

  3. simon on March 4, 2012 at 9:11 am

    blackheath got the official figures for gold wrong, it more like 150,000 tons than 1,507.

    that’s a fairly major error. not to say that this is not a damn interesting story 🙂

    • Michael Wolff on March 4, 2012 at 9:20 am

      Who actually ascertains the ‘official’ figures and how?

      • simon on March 4, 2012 at 9:55 am

        these are figures from the world gold council, i think. i’ve been involved in the gold market for a few years now and that’s been a standard official explanation of how much gold there is.

        • Michael Wolff on March 4, 2012 at 10:24 am

          Some googleology:

          English Wikipedia:
          The World Gold Council is a non-profit association of the world’s leading gold mining companies, established in 1987 to promote the use of gold. It aims to stimulate demand for gold from industry, consumers, and investors. The Council’s Chief Executive Officer is Aram Shishmanian, former head of global financial markets practice at Accenture. Its Chairman is Ian Telfer.

          mmmh…”…a non-profit association of the world’s leading gold mining companies, established in 1987 to promote…”

          German Wikipedia:
          Der World Gold Council ist eine globale Lobby-Organisation der Goldminenindustrie. Ziel des World Gold Council ist es, die Nachfrage nach Gold zu stimulieren und zu erhalten. Der Council hat seinen Sitz in London und verfügt über Büros an sieben verschiedenen Standorten weltweit. Insgesamt werden 100 Mitarbeiter beschäftigt.

          The World Gold Council is a lobbying organization of the global gold mining industry. The aim of the World Gold Council is to stimulate and to receive the demand for gold . The Council has its headquarters in London and has offices in seven different locations around the world. A total of 100 employees.

          mmmh…”…headquarters in London”

          It’s actually located in THE CITY of London:

          World Gold Council London

          Ian Telfer:

          Telfer School of Management:
          The Telfer School of Management is a business school located at the University of Ottawa in Ottawa, Ontario, Canada. The school is named in honour of one university alumnus, Ian Telfer (MBA 1976), who made a significant donation to the University of Ottawa. The donation of $25 million to the school’s business program is the largest donation in Canadian history to be given to a business school.

          Answers the question of ‘Who?’…more or less.

          But How?

  4. Michael Wolff on March 3, 2012 at 11:03 pm

    Let’s throw some more ‘speculative bones’:

    New York Times, October 10, 1929; “German Produces Gold in Synthetic Test; Denies Swindling Ludendorff and Others”
    New York Times, October 11, 1929; “German’s Alchemy Called Huge Hoax”
    Time Magazine, October 21, 1929; “Thousand’s Gold”
    New York Times, November 17, 1929; “Alchemy’s Deceitful Trail”

    • Joseph P. Farrell on March 3, 2012 at 11:58 pm

      Too late…I already threw out these bones in my book The Philosophers’ Stone

      • Michael Wolff on March 4, 2012 at 1:21 am

        Yes, I know. :]
        And some pages before that – in Part A of Chapter 11 of your book – you write about Wiligut’s essay “The Creative Spiral of the ‘World-Egg”,
        published under the pseudonym Jarl Widar in Hagal 11, 1934.
        Now, ‘Hagal’ was a Journal of the “Edda-Gesellschaft”:

        After WWII, in the year of 1955, there was published a little book by a certain Roland Dionys Jossé, titled

        “Die Tala der Raunen (Runo-astrologische Kabbalistik)”

        it is devoted to Frau Käthe Schaefer-Gerdau “custodian of the Edda-Society (1924-1939)” in “heartily relatedness”.

        A chapter in this book is titled:

        “Die Raunenspirale und das periodische System der Elemente”
        (The Rune-Spiral and the periodic table of the chemical elements)

        Here is a scan out of this chapter from my copy (was the last one selled on German amazon):

        • Michael Wolff on March 4, 2012 at 5:22 am

          In the Bibliography appendix of your “The Philosophers’ Stone – Alchemy and the Secret Research for Exotic Matter” is litsted

          +Wegener, Franz. “Der Alchemist Franz Tausend: Alchemie und Nationalsozialismus.”, KFVR: 2006

          The chapter 2.3 lists ‘interesting’ “Motive” (for financing of Tausend’s research by ‘Ludendorff & Co.’:
          …just translating the captions of the sub-chapters in English…

          ~ cabalistic motivation: The Gold in Moon-Light
          ~ politico-economic motivation: Destruction of Global Money
          ~ oblique financing of political parties: The Budget of the early NSDAP
          ~ para-miltaristic motivation: The Secret Unit ‘Organisation Consul’

          …Of course, there are many other possibilities, many other scenarios, that one might envision…

          I’m just connecting dots to spirals in spirals.
          See you on the flip side.

          • Jay on March 4, 2012 at 12:58 pm

            Michael Wolff

            And a lot more than some early 20 century Germans have claimed alchemical successes, a not very extensive list: Wilhlem Reich, T H Moray, most of those working in cold fusion, D Hudson, Kervan, etc.

            And some are most certainly talking about industrial quantities.

  5. MattB on March 3, 2012 at 8:47 pm

    Meanwhile the Russians in Antarctica:

    “…..It is an important milestone that has been completed and a major achievement for the Russians because they’ve been working on this for years,” Professor Martin Siegert, a leading scientist with the British Antarctic Survey, which is trying to reach another Antarctic subglacial lake, Lake Ellsworth.
    “The Russian team share our mission to understand subglacial lake environments and we look forward to developing collaborations with their scientists and also those from the U.S. and other nations, as we all embark on a quest to comprehend these pristine, extreme environments,” he said in an email.
    In the future, Russian researchers plan to explore the lake using an underwater robot equipped with video cameras that would collect water samples and sediments from the bottom of the lake, a project still awaiting the approval of the Antarctic Treaty organization.
    The prospect of lakes hidden under Antarctic ice was first put forward by Russian scientist and anarchist revolutionary, Prince Pyotr Kropotkin at the end of the 19th century. Russian geographer Andrei Kapitsa pointed at the likely location of the lake and named it following Soviet Antarctic missions in the 1950s and 1960s, but it wasn’t until 1994 that its existence was proven by Russian and British scientists.
    Earlier this week state-run news agency in Russia claimed that an extraordinary cache of Hitler’s archives may be buried in a secret Nazi ice bunker near the spot where yesterday’s breakthrough was made.
    ‘It is thought that towards the end of the Second World War, the Nazis moved to the South Pole and started constructing a base at Lake Vostok,’ claimed RIA Novosti, the Russian state news agency.
    It cited Admiral Karl Dontiz in 1943 saying ‘Germany’s submarine fleet is proud that it created an unassailable fortress for the Fuehrer on the other end of the world’, in Antarctica.
    According to German naval archives, months after the Nazis surrendered to the Allies in April 1945, a U-530 submarine arrived at the South Pole from the Port of Kiel.
    The crew are rumoured to have constructed a still undiscovered ice cave ‘and supposedly stored several boxes of relics from the Third Reich, including Hitler’s secret files’.
    A later claim was that a U-977 submarine delivered remains of Hitler and Eva Braun to Antarctica in the hope they could be cloned from their DNA. The submariners then went to Argentina to surrender, it was claimed

    Read more:

    • HAL838 on March 4, 2012 at 12:03 am

      I’ll buy [really not new to me] the Antarctica stuff,
      complete with Nazis and Russians
      [that are OK, Russia that is],
      but you can have the Hitler …………. stuff………..

      In fact, his own minister of lies said to the effect that
      if you mix the big lie in with some truth it will be believed
      if it’s [the lie] big enough and told often enough the people
      will accept it.

      No one said the Germans weren’t smart with science,
      or maybe in general, but Hitler was Austrian.
      THEY funded him, molded him, brainwashed him,
      but when his usefullness was over, it was over.

      • MattB on March 4, 2012 at 2:15 am

        It really surprised me to see the references to Nazis etc. The U-boat references were a problem though. These appear to be the ones mentioned in Grey Wolf , they are very problematic.

        • HAL838 on March 4, 2012 at 6:17 am

          Yes, I agree with you, Matt.
          They ARE problematic.
          Just what DOES the U stand for, anyway?
          You see? I don’t know !

          • Michael Wolff on March 4, 2012 at 7:00 am

            The U from U-Boat?
            Submarine in German is called ‘Unterseeboot’, and that is what the U stands for.


          • HAL838 on March 12, 2012 at 11:49 am

            cool !

  6. marcos anthony toledo on March 3, 2012 at 8:43 pm

    1934 was about a year after Hitler became Chancellor of Germany under President von Hindenburg and the year Adolf Hitler became the the head of state apond the death of the German President. So are these bonds genuine who knows but with all the Axis powers looting of the countries they conquered the question is how much of this loot was recovered by the Allies at the end of the war. Combine this loot with the money from criminalize drugs and the sky is the limit as to the Nazi International funds.

  7. Michael on March 3, 2012 at 4:37 pm

    Regarding Lord Blackheath, does anybody have a pulse on his rumored death by heart attack on the Tube three days ago?

    • HAL838 on March 3, 2012 at 7:35 pm

      If he is, he already rung the bell being heard round the world.
      As some would say, the vid has gone viral !

  8. Mike Infinity on March 3, 2012 at 3:26 pm

    David Wilcox has done considerable research on the bonds and their origin and implications. May fill in some blanks for those interested. Many references in his on-line work which must be 40 or 50 pages.

  9. HAL838 on March 3, 2012 at 1:47 pm

    As an aside:
    I was surfing the TV earlier, something I don’t ‘watch’ much,
    but often listen to as I am doing other things to learn from
    others’ garbage and propaganda
    [there are lessons everywhere],
    when I came across a show called “How It Was”
    on the National Geographic channel.

    I watched for awhile as the program showed film clips
    from the news right after Reagan was shot.
    The clips were hardly more than a second or two
    and quite disparate following the narating voice,
    not the photo-shopped one shown the last day
    of Reagan’s funeral.

    I watched carefully for about 10 or 15 minutes.
    It was pretty much as I rememberedf it and even
    explained rather well.

    No shot-in-the-gut Secret Service agent crouching
    behind the limo door. Between his jump in front of Reagan,
    and the force of the shot, he was lifted off the ground
    and fell to it where he stayed.

    No uniformed cops jumped Hinckley, but clearly two
    plain clothes [probably Sec Ser] and another clip
    showed two uniforms joining in.

    The ricochet bullett was one in a million, off the frame
    near the door and then going through
    just betweeen the open car door and frame as Reagan
    was shoved into it, hitting him in the chest collapsing a lung.

    For those of you who read that particular post of mine
    and was wondering or interested.
    Maybe you can find the whole show in your area.

  10. Robert Barricklow on March 3, 2012 at 11:17 am

    Even today’s markets, in gold & silver, do not represent the actual physical market. There a faux market, that is manipulated by the elitist, through governments’ compliances, to keep their fiat currencies viable.
    These bonds, speak largely to a channel that flows below far too many radars, suggests a Nazi International type mechanism, to finance this breakaway civilation. Their, apparently, exclusive technology, is aiding & abetting them.

    When one takes, as a given, their organizational constructs, systemically embedded in systems throughout time & place, and the control they inherently imply; the question then is, can we break away from them, not, can they break away.

    • HPrice on March 3, 2012 at 3:23 pm

      I agree with your idea about the faux market. I don’t believe you need that much gold or silver any more to make a lot of money to use … in whatever way you wish. I am not a financial expert in any sense but the way markets are manipulated nowadays, you just make sure the prices for your stock of gold, silver, fish whatever go through the roof for a wee while, make your enormous profit, and then allow the prices to come back down to ground level as it were.

      Look at the way oil prices go up and down for instance, and those economic confidence polls you get now and again in the business community. Some one stubs their toe and the oil prices go up, or business leaders are suddenly very pessimistic in the year ahead. The markets, and the people behind them do seem to be extremely elastic.

      This whole scenario does seem to be a wee bit elaborate, and strangely old world when you can manipulate the markets with hearsay, speculation, and computer models (maybe) tweaked in the way you want the to go. Look at the stocks in airlines etc just before 9/11 … they probably weren’t actual stocks backed by anything physical and someone made a lot of money out of it (probably in Israel 😉 ) … so actual physical “things” aren’t necessarily needed any more to make money in the financial world.

      But then again, I’m no where near a financial expert so I could be wildly wrong :D.

      Best wishes

      Harvey P.

      ps and all that stuff from WW2 – the gold, silver, and whatnot – it was over 60 years ago now … there really are people still hoarding and using that stuff when there must have been a tonne of other opportunities for these people to make money since then?? Was there THAT much of it??

      • Robert Barricklow on March 3, 2012 at 4:10 pm

        The physical is where it’s at in metals.
        The market IS manipulated; but, at the same time, it also relies on trust.

        If you check out max keiser’s report religiously(3xa week, and his on the edge 1x a wk), you’ll soon be able to distinguish, in a manner of speaking, the male chicken from the female. In other words, you’ll be enlightened in an unconscious, tao teaching, way.
        Throw in a little Ellen Hodgson Brown & & Voila! Your in like Flynn.

  11. Jay on March 3, 2012 at 7:49 am

    Gold from Japan and Germany after World War Two used to fund other activities, just what the Montauk types claim.

    Though 1934 would predate World War Two, unless you want to count the imperial Japanese invasion of China and Korea.

    Then there are often problems with J Rense’s sourcing and made up accusations.

  12. HAL838 on March 3, 2012 at 5:58 am

    Tom Bearden DOES say many years ago in one of
    his first books (I believe “Excaliber”) that [we] had
    already explored the solar system with these “saucers.”

    I never discredited him. I said that he
    [blames everything on the Russians]
    to save his own skin.
    Bearden is a retired Air Force Colonal, after all,
    and a physics engineer.

  13. HAL838 on March 3, 2012 at 5:58 am

    Tom Bearden DOES say many years ago in one of
    his first books (I believe “Excaliber”) that [we] had
    already explored the solar system with these “saucers.”

    I never discredited him. I said that he
    [blames everything on the Russians]
    to save his own skin.
    Bearden is a retired Air Force Colonal, after all,
    and a physics engineer.

  14. Jedi on March 3, 2012 at 5:23 am

    ….Hitlers rise to power, Japan invades Manchuria, the Emporer unites China, the Great bankers depression, dumping wheat in the ocean and destroying cattle, a genocide going on in the Ukraine, the Brave New World, Keynes e con om ics….oh yes 1934.

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