Friday, December 18, 2009

Ethiopia's fake central bank gold

How to Make Convincing Fake-Gold Bars | Popular Science: "On Wednesday, the BBC reported that millions of dollars in gold at the central bank of Ethiopia has turned out to be fake: What were supposed to be bars of solid gold turned out to be nothing more than gold-plated steel. They tried to sell the stuff to South Africa and it was sent back when the South Africans noticed this little problem."

But this is not the first big, really big, counterfeiting job just this year. This was only in the millions of dollars.

There was that $134 Billion bond find at the Italian-Swiss border back in June. That is a lot of money, though they appear to be fake.

It takes some real guts to run a scam at the nation-state level. Though I have to wonder if it might not be easier, because who would think anyone is crazy enough to try something like that. A lot of governments don't have a lot of money but taking out a scam on this scale, they surely have money for that.

The world is a little bit crazier.