Difference between revisions of "Bearer bond"
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A [[Bearer bond]] is a paper that is payable to the bearer. Some of these have been issued with very high values (millions of dollars or even more), and as such, they are important in the area of smuggling and of [[money laundering|laundering]] of illicit profits. | A [[Bearer bond]] is a paper that is payable to the bearer. Some of these have been issued with very high values (millions of dollars or even more), and as such, they are important in the area of smuggling and of [[money laundering|laundering]] of illicit profits. | ||
Revision as of 15:55, 27 August 2015
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A Bearer bond is a paper that is payable to the bearer. Some of these have been issued with very high values (millions of dollars or even more), and as such, they are important in the area of smuggling and of laundering of illicit profits.
Contents
Early 20th century
The bearer bonds that often turn up in incredible amounts on the Swiss/Italian border are supposedly very good forgeries of old US treasury bonds. This official narrative has a number of anomalies.
1980s
The US treasury restarted issuing of bearer bonds in the 1980s as a way of attracting cash to help tackle interest rates. They quickly became the instrument of choice for money laundering. After about 6 years of attracting drug money with this expedient, the policy ceased.[1]
2000s
The US government no longer issues bearer bonds.[citation needed]
