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$134 Billion Seized in Italy

"Two Japanese 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 newspaper reported Wednesday...."

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13 Comments

Current View: 15 / Show all Comments

seescruffyrun : LVL 36: VP 4.4: said:

seescruffyrun

8 votes NegativePositive

158 days 2 hours ago...

Could he finally have covered a good story without making himself look like a complete jack ass? I congratulate him for looking at both possibilities and not dismissing one so quickly, that IS an interesting story to say the least.

sato : LVL 29: VP 3.8: said:

sato

9 votes NegativePositive

158 days 1 hour ago...

wow that`s something u don`t hear on fox news "there are 2 possibilities"

stbasdf : LVL 39: VP 4.7: said:

stbasdf

3 votes NegativePositive

158 days 1 hour ago...

yes, i am tired of your "nonsense," glenn beck. but i wonder what all that is about

Flynn_2006 : LVL 46: VP 5: said:

Flynn_2006

6 votes NegativePositive

158 days ago...

Those bonds are fake according to:

Smuggled $134 billion in T-bonds are fakes, U.S. says
1:20 PM, June 18, 2009

Speculation about the Italian smuggling case involving $134 billion in purported U.S. Treasury bonds may have been fun while it lasted, but the Treasury Department says today the bonds are bogus.

"They’re obvious fakes," said Steve Meyerhardt, a spokesman for the Treasury`s Bureau of Public Debt in Washington.

Two Japanese men were detained by Italian authorities last week after they were caught trying to enter Switzerland with what appeared to be $134 billion in U.S. Treasury bonds in a suitcase.

As I noted in this post on Wednesday, conspiracy theories have run wild in the blogosphere based on the few details that had emerged about the case -- and because mainstream media had largely ignored the story.

Meyerhardt said Treasury authorities could see immediately from photos of the bonds that they were doctored.

What’s more, the package of bonds was said to include "Kennedy" bonds worth $1 billion each. "There is no such thing as a Kennedy bond," Meyerhardt said.

Most important, the total of Treasury paper "bearer" bonds outstanding is a mere $105 million, he said. The Treasury has been issuing bonds solely in electronic form since 1986, although a relative handful of investors never bothered to convert their bearer bonds to electronic form.

And yes, I realize that there’s probably nothing Treasury can say to satisfy people who believe that there’s something more sinister going on here.

The big question, still, is what the apparent forgerers hoped to do with the paper.

-- Tom Petruno


http://latimesblogs.latimes.com/money_co/2009/06/speculation-a
bout-the-italian-smuggling-case-involving-134-billion-in-purported-us-treas
ury-bonds-may-have-been-fun-while.html

sato : LVL 29: VP 3.8: said:

sato

3 votes NegativePositive

157 days 23 hours ago...

a few news sources say the bonds have been declared `most probably` fake, but that the smugglers were released.... that`s an enormous attempted fraud, so why were they released? very fishy...

Flynn_2006 : LVL 46: VP 5: said:

Flynn_2006

9 votes NegativePositive

157 days 23 hours ago...

^ I clearly am not an expert in this. Why don`t you enlighten us bit further.

Flynn_2006 : LVL 46: VP 5: said:

Flynn_2006

10 votes NegativePositive

157 days 22 hours ago...

^ Not offended, mostly just curious on what you have to say. It`s easier to speculate with a doubt than to choose to believe with a leap of faith they called facts from the media. But what else does one have?

Flynn_2006 : LVL 46: VP 5: said:

Flynn_2006

0 votes NegativePositive

157 days 21 hours ago...

^ I think if those notes were real, there would be banks or government entities that will urgently reclaim them. No large institution would issue such blank check without some kind of repercussion. That`s as far as my logic goes.


hey dude don`t worry about it. a shock in the system sometimes is what the patience needs (especially me). Difference of opinion is important in my book so long it`s not dogmatic.

daftcunt : LVL 38: VP 4.6: said:

daftcunt

2 votes NegativePositive

157 days 17 hours ago...

Anybody noticed that they must have dragged joe wiesental out of the cue at the barbershop hile he was waiting to get his hair cut?

Triopstor : LVL 30: VP 3.9: said:

Triopstor

0 votes NegativePositive

152 days 12 hours ago...

Of an interesting note:

1. Some news sources speak of these bonds as "Bearer Bonds" but according to:

http://www.treasurydirect.gov/govt/reports/pd/pd_bearregsec.pdf

t
here is only about 105 million outstanding of ALL U.S. Bearer Bonds in existance.

Triopstor : LVL 30: VP 3.9: said:

Triopstor

0 votes NegativePositive

152 days 12 hours ago...

Question:

2. If the U.S. Treasury Bonds are authentic, why would a person(s), organization or government(Japan?) NEED to smuggle them? Smuggle to a Swiss Bank? What not wire the funds electronically?

Why not put them in diplomatic protected by law envelopes to a consulate in Switzerland instead of an attempt to smuggle if the couriers represent a government such as Japan?

I can see smuggling notes for purchasing military technology. But then the question why go to Switzerland? The Swiss make it easier for one to buy nuclear arms from Iran?

Look`s like a job for MI-6 and a pack of freelance spies/comandos.

If only video games today could produce a plot so real.

Triopstor : LVL 30: VP 3.9: said:

Triopstor

0 votes NegativePositive

152 days 11 hours ago...

Comment:

3. But like all stage illusionists, beware of following news such as this and ending up being blind-sighted by something bigger.

For example, the story presents the dangers of buying legitimate bonds. Any government can turn around and say we didn`t publish those - there fraudulent. But forget paper bonds as most banking is done electronically. The REAL danger is what if some country bank gets wiped clean electronically of say 800 billion dollars. That could start a major war.

Sure one can counter arguement that there are safe guards to ensure the money electronically. But in this world one should expect surprises. And such people who would raise those types of counter arguements prozaically say later, "Well you didn`t mention that fact, or I forgot to say this loop hole, or technically that`s not wiping a computer."

One way to destroy a country bank of 800 billion dollars would be to have an agent/person/hack in the system and legitimately purchase something for the bank knowing full well the value is about to short or collapse. You can even have ANOTHER country involved to set up some investment designed in collusion to deliberately crash later on THUS throwing off suspicion. Or get an automated computer program to keep buying in and out of bad positions till commisions and price shorting drop the 800 billion to a near zero value.

That`s why I said don`t be blind-sighted as there could be other big future events coming this way that will make this story look small or smaller in size comparision.

Sev : LVL 42: VP 5: said:

Sev

1 votes NegativePositive

152 days 9 hours ago...

The north koreans?!?!!? Glenn Beck is just a fear mongering retarded cunt.

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