Posted on 06/10/2009 10:45:08 PM PDT by 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.
Yep, and I was in the shower!
A few months back I checked and Japan owned just over $500 billion in US securities and China about the same for a total of just over a trillion. To say this is the largest seizure of it’s kind is an understatement.
Holy cow! 134 billion?? Columbian bonds?
i dont understand, how you could carry $130 billion bond. Aren’t bonds like piece of paper that tells you have much they’re worth. Kinda like shares. They’re worthless on its on
Seriously, my curiosity meter is pegged. Stupid Today Show will probably be talking about Jessica Simpson's nose hairs. I'll have to wait until somebody with a brain strolls into CNBC in the morning to find out. It's going to kill me.
Actually, I’d kind of like to hear about Jessica Simpson’s nose hairs!!!
Anyone registered at ticker-forum? Posting this should get some interesting responses.
Isn't there a big Treasury bond auction tomorrow that is widely expected to be a fiasco? I wonder if someone was thinking of trying to start a panic by dumping these bonds on the market the same day.
An act of economic warfare may have been averted.
If Italy confiscates this much dough, whomever owns the bonds is broke tomorrow morning. Which government collapses?
LOL...maybe! I think the ChiComs or Japanese are (or were—now that the covers blown!) trying to quietly get out of US bonds. I would be.
I think you meant his second year.
Fox News is still headlining the Palin/Letterman flap on their website so I guess this isn’t really that important.
Yeah but Zim has just issued a 100 Trillion dollar banknote making 134 billion seem very small in comparison.
But, why sneak them into Switzerland. Bonds go there to hide, not lose value. I seriously doubt Switzerland will allow someone to create global panic after the tax issue and the Swiss banks issues. No. I think a huge hedge fund manager just Madoff (sp?) with some loot. Or, this whole story is wrong.
The list of possible suspects can't be that big. A drug cartel money is one that comes to mind. Maybe oil wealth fleeing the Middle East for safer places? It's a real head scratcher.
That could be construed as an act of war.
I think we can be assured that some US officials are on a redeye flight as we speak.
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