Yet another huge lawsuit and skulduggery regarding 75 year old Bonds. This not from the Dragon Society, his time.
It appears, to me, that vast sums of money were borrowed, from industrialists, in the 1930's. Their coffers were awash with money following the collapse of the Austria-Hungarian Empire and the costs of WW 1. The USA had borrowed from the Federal Reserve and were almost bankrupt. So they issued these 60 year Bonds, with compound interest, for money to keep them afloat. Or jam tomorrow, economics.
It would be 60 / 70 years before people wanted paid and things must get better, they always had done, hadn't they?
So, the lenders had financial negotiable instruments, with a face value plus per annum interest. They were Government issue and would be preferential, regarding re payment. Bang WW 2. These Bonds or parts thereof, where used to act as guarantee, raising money to lend to/ invest in Germany during the 30's / 1940's, making more money. Whoever had title to the Bonds could do anything with them and any failure to repay loans guaranteed by these Bonds would still mean safety for the lender as they now fell title, by default of non payment. It was just a crazy ferris wheel.
As the payment dates have been reached, people are rightly saying, ' my money , please.' Every hurdle is being thrown up, to avoid payment. In fact, although there had been some jam tomorrow, there was not enough. There is not enough sloshing round the system to pay these Bonds, hence the Dragons and this case. Look out for more family vaults being open just to see what musty old papers are in them.
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