2 Japanese carrying $134 bil worth of U.S. bonds detained in Italy

Japan Today ^ | Thursday 11th June, 06:18 AM JST | JapanToday

[Xenophon450]

ROME —

Two Japanese nationals were detained by Italian financial police last week after trying to enter Switzerland with $134 billion worth of undeclared U.S. bonds, mostly Treasury bonds, an Italian daily said Wednesday. The Japanese consulate general in Milan confirmed that the detention had taken place and said it was trying to confirm with Italian authorities whether the two were indeed Japanese nationals and their identities.

According to the report in il Giornale, two unidentified Japanese in their 50s concealed the bonds, including 249 U.S. Treasury bonds each worth $500 million, in a suitcase with a false bottom that was searched by the Italian authorities June 3 when they were in Chiasso, at the border with Switzerland, about 50 kilometers north of Milan. The daily did not say on what charges they have been detained, but the two may have been detained on suspicion of attempting to take a large amount of securities out of Italy without declaring it because the paper said they had not declared the bonds.

[hiredhand]

If this was organized crime related, those two who were the runners are TOAST. We'll probably never know. But if I DO hear anything, I'll let you know! :-)

[Positive]

Here is a little bit of insight.

If the owners of those bonds have owned them for 6 months, AND they are the 30 year bonds...those bonds have dropped in market value by 35% since December 19th when they were yielding 2.52% (now the yield is 4.65%).

So the $134,000,000,000 par value would have become about $88,000,000,000 market value today.

This week the US borrowed about $140,000,000,000 so if someone tried to sell these bonds the market would have crashed.

My foil hat tells me these bonds were headed for a shredder in return for some "in kind" consideration.

[Kozak]

If the bonds are found to be genuine, the two could be fined around 40 percent of the total value of the bonds, it said.

Italy just had a 53 billion dollar payday.....

[April Lexington]

My foil hat tells me these bonds were headed for a shredder in return for some "in kind" consideration.

That's a mighty fine tin foil hat you have there. I'm still in shock that anyone has $134 billion in paper bonds. Maybe its one of those James Bond villains and he needs the cash to build a Mars landing craft or something. This whole story boggles the mind. Worse, Drudge picked it up today...

[April Lexington]

Wouldn't the conversion of the fund investments into all paper bonds set off a few sirens at the SEC?

The US Treasury would have to issue the paper bonds and that would raise eyebrows. Paper bonds are a huge hassle and they don't trade easily. Nobody like these things because of the custody issues, etc.

Hmmmmm. I wonder what Geithner knows... Maybe, tin foil hat time, this has something to do with Obama????

[April Lexington]

At this point, that's as good as any other theory.

There is still James Bond Villain and Martians!

[Big Giant Head]

"As they say, this is hugh, I'm series. Yep, and I was in the shower!"

Okeydoke! I'll get the popcorn! Beeber set to "stune."

This is turning into quite a cheesy moose-biter.

[redhead]

This is a very interesting topic, if it is legitimate. I wonder if we will ever discover the truth about ANY of it.

[Wontsubmit]

US drive by medias still silent ...

[GOPJ]

US drive by medias still silent ...

That's because members of the MSM can't do math.

[April Lexington]

Earlier in my career I spend a great deal of time prosecuting securities fraud. This is an incredible story and has really tweaked my interest. Its the biggest thing I’ve ever seen, or... its not true. I believe the $134 billion is not accurate. Too much money. But, I hope I’m wrong!

[redhead]

True. There is an AWFUL lot of information in this “not much information” leak. SOMEBODY wanted this knowledge to get out. The plot is truly thickening. I’ll be watching...

[April Lexington]

I’ll be watching too. Just too much liquidity to be sneaking into Switzerland...

[redhead]

"Just too much liquidity to be sneaking into Switzerland..."

Exactly. Waaaaaay too much money, made waaaay too public, and waaaay too little being said and/or done about the whole thing. Like I said: either it's a potboiler that got out of hand, or we should be watching over our shoulders. LOL! I'm starting to smell day-old salmon...

[SteveH]

image from http://www.marketskeptics.com/2009/06/italy-seizes-135-billion-treasury-bonds.html

Interestingly, the site reports (among other interesting tidbits) a virtual news blackout of the topic in mainland China.

It does not make logical sense to me that they would be fake. The denominations are too large for that imho.

[Cindy]

http://www.freerepublic.com/focus/f-news/2272703/posts

#

Video Description - Quote:

http://www.foxnews.com/search-results/m/22605120/counterfeit-bonds.htm

About This Video

Title: Counterfeit Bonds?
Published: Mon, 15 Jun 2009
Description: Italian police arrest Japanese men smuggling $134 billion in U.S. bonds

[April Lexington]

Mystery of the year, in my humble opinion. I still think its a fake. But, with my luck, that means its real! Time will tell...

[catfish1957]

Which might buy them a loaf of bread after 3 more years of BHO

[MissouriConservative]

It makes me wonder if they aren’t Japanese nationals working for North Korea? North Korea has been guilty of kidnapping Japanese nationals in the past. Maybe they are disposable enough?

All I know is that only a nation could have that much. It makes me wonder if they are forgeries.

[PGalt]

BUMP-TO-THE-TRUTH!