Been following Karl's blog on this, and the fact remains that there is no good close up view of these bonds released. Why not, certainly a knowledgeable observer would be able to figure whether they are phony or not? "Oh they must be phony" is not an acceptable answer, treasury's assertion that only such and such amount of bearer bonds are outstanding. If it's "tin foil" to not be willing to take treasury's word, then so be it, but really one is expected to do just that..

Not easy when you have this sneaking suspicion that government agencies lie on a routine basis..