Italian Customs Agents seize $134.5 billion US Treasury Bonds - Economics, Free Trade, Business - The Grove

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Italian Customs Agents seize $134.5 billion US Treasury Bonds

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*Phil*
Opinionated Interventionist

Joined:	Thu Apr 21st, 2005
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Posted: Tue Jun 16th, 2009 02:04 am

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This is stranger than fiction. Definitely a what-the-heck story

Two well dressed Japanese men with Japanese passports were aboard an Italian commuter train bound for Switzerland had $134.5 billion in bonds hidden in a briefcase! This would be 1/5 the total US treasuries owned by Japan.

Italy’s financial police (Guardia italiana di Finanza) has seized US bonds worth US 134.5 billion from two Japanese nationals at Chiasso (40 km from Milan) on the border between Italy and Switzerland. They include 249 US Federal Reserve bonds worth US$ 500 million each, plus ten Kennedy bonds and other US government securities worth a billion dollar each.

http://www.asianews.it/index.php?l=en&art=15456

and

http://www.bloomberg.com/apps/news?pid=20601101&sid=afJXAA1ahZyo

These large denomination treasury bonds would normally only be owned by Central Banks. Forging something like this would be like forging a Rembrandt - the value is too high and the forgery comparatively simple to detect. Yet they are likely to be forgeries.

Someone is playing a big game here - as if they wanted to make a statement. I wonder..... North Korea?

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Roy
Quasi-Infallible Egocentric Tyrant

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Posted: Tue Jun 16th, 2009 02:49 am

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I thought that it could be that money laundering was involved. So, they could be forgeries? How well done? And how is it that the story has died? No follow-up?

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