Businessmen Caught With $134B of US Bonds at Italy/Swiss Border

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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.

So far, no American mainstream media has picked up on this pretty scandalous story. Is some government trying to liquidate their shares of T-bills? Or are they fake and this is the largest counterfeit operation ever?

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.

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wtf
Posted by Totally fake on 2009-07-13 20:32:39
no such thing as a Kennedy bond should be your first clue
Actually...
Posted by Chez on 2009-07-17 12:56:26
I know he's probably not well liked around these parts, but Glenn Beck did cover this story on his TV show. He also noted how little attention was paid to it, and how he got virtually no responses or "No comment"s to any of the phone calls made to just about all of the related parties.
reported in Japan
Posted by anonymous on 2009-07-18 11:50:45
Read about this in the English press in Japan (of course....the suspects are Japanese).
Basically:
1) no such denomination currently exists
2) Only 100+ Million bonds are outstanding

Over a beer, friends think it was a test of Italy`s customs agents, or a deal with an African Nation.
(Like someone from Nigeria whose close confident recently died......)
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