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Holders of treasuries and paper gold may have their own tungsten to worry about
Italian Police Seize $5 billion of U.S. Securities
By Danilo Masoni
Saturday, April 21, 2012
MILAN, Italy -- Italian financial police have seized U.S. securities with face values of about $1.5 billion and gold certificates worth more than 3 billion euros ($3.96 billion) as part of an investigation into a possible international financial scam.
The police said on Saturday the "million-dollar" operation was a last step in the probe, which centered on the use of bearer Federal Reserve debt securities dating back to the 1930s as a guarantee for loans or other opaque cross-border transactions.
Rome police seized the securities from a 70-year-old man, who held them in a briefcase along with documents about financial operations, the police said in a statement.
Police said they were carrying out checks, helped by the U.S. central bank and the U.S. embassy in Rome, over the authenticity and origin of the securities, as well as over possible links between the man and criminal organizations.
Golden Phoenix Discusses Royalty Mining Growth Strategy
on '21st Century Business' on Fox Business Network
Golden Phoenix Minerals Inc. has discussed its royalty mining growth strategy on the Fox Business Network program "21st Century Business" with host Jackie Bales. Golden Phoenix's director of corporate communications, Robert Ian, told how the company narrows its focus to project generation and future royalty streams. He explained why Golden Phoenix believes it's better to own joint-venture interests in several producing mines instead of full exposure to just one project.
"21st Century Business" has been airing for 15 years. Previous hosts have included Gen. Alexander Haig, Gen.l Norman Schwarzkopf, and Secretary of Defense Caspar Weinberger. Golden Phoenix appeared as paid programming on this broadcast.
To view the program with Golden Phoenix, please visit Golden Phoenix's Internet site here:
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Multi-Million-Ounce Gold and Silver Deposits in Canada
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