Huge Story, largely untouched in the media.

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Xmodius

Joined
Apr 4, 2009
Messages
242
Two men were detained in Italy by Italian Customs while trying to cross into Switzerland with $134.5 BILLION in U.S. Treasury Bonds. The men are Japanese nationals allegedly. It has not yet been revealed if the bonds are genuine or counterfeit. The story is significant whether or not the bonds are real. Bloomberg has covered it a little bit on their website. Most of the information I have gotten about it has been from economic/investing/trading oriented websites. This has enormous implications, but I have no idea how this will play out. The U.S. media seem reluctant to cover it much......yet.
 
The US media probably can't find a reporter who understands the story.
There aren't any Hollywood people involved for them to interview. :)
 
Xmodius said:
Two men were detained in Italy by Italian Customs while trying to cross into Switzerland with $134.5 BILLION in U.S. Treasury Bonds.
Click to expand...

Allegedly, 249 US Federal Reserve bonds worth $500 million each, 10 "Kennedy" bonds worth $1 billion each & assorted appetizers. Italian customs said the Federal Reserve bonds look real ("filigree paper of excellent quality") but they just don't know about those Kennedys (I don't even know what they are). Of course the Italians want them to be real because they'd keep 30%.

The problem is that they are bearer bonds, and who has $134 billion in US government bearer bonds? Treasury stopped printing them in 1982, and they shouldn't exist. But who would counterfeit something like this? Would you take one as collateral?

If you like inflammatory speculation, here is some inflammatory speculation:

http://www.dailykos.com/story/2009/6/13/163653/294
 
Excellent link, Piso.

And the coverage grows.....and the story comes out? This will be interesting.
 
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