$134 Billion in U.S. Bonds found on 2 Japanese trying to sneak into Switzerland
06-19-2009, 08:01 PM
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$134 Billion in U.S. Bonds found on 2 Japanese trying to sneak into Switzerland
June 11, 2009
"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.
The treasure was in the hands of two Japanese from Italy were trying to enter Switzerland. In a suitcase were 249 bonds of the ‘Federal Reserve‘ American in the nominal value of 500 million each, and 10 ‘ bond Kennedy ‘ of the nominal value of $ 1 billion each, in addition to what is described as very original banking documentation.
Everything has been reported to have been seized and authorities are investigating the 2 as well as the authenticity of the bonds."
With news of Russia divesting (Russia to reduce U.S. Treasury holdings: reports) from these United States bonds and of course China as well and both (and more) wanting to start investing in IMF bonds, to start a new global reserve currency (agreed by ALL G20 nations in London) makes this story cause me to sit up straight in my seat.
Here is a scenario, which until more details about these two is know, is just a maybe...
If you were Japan, the second largest holder of US Treasuries, what would you do? You would not want to risk angering Washington and Co, especially since president Obama is so well liked. How could you quietly, unlike China and Russia whose footsteps in the night are making awful creaking sounds, divest from these bonds, this paper that could become the value of plain paper, in some doomsday scenarios (In any event, likely to lose a lot of their value.)?
Could it be Japan is spooked by the threat of The Fed being audited, as reported here?
Japan very well, and this is just a guess, may be trying to silently sell,
BILLIONS of USD worth of bonds, for a lot less then they are worth, in Switzerland, to switch it to gold, silver or heck, maybe even Euros- who knows.
All I know is that where there is smoke, there is fire. Is it hot enough to melt gold or just burn paper? This is one to keep on the radar, just it simply drops from public eye.
BREAKING - UPDATE
Almost no western sources are pushing this story, however AsiaNews is doing some digging and found some, well, incredible evidence, pointing to a state backed action, namely likely via Japan:
"Seizure of US government bonds from two Japanese men in Italy raises questions
Seized US bonds are worth US$ 134.5 billion. The whole affair touches a number of economic and political issues. For some the resignation of Japan’s Interior minister might be related to it."
And here is the key, most clear evidence that these two Japanese men were on official diplomatic business- likely to dump US bonds.
Source: http://www.nationalterroralert.com/u...ng-134-billion
And from Asia News: http://www.asianews.it/index.php?l=en&art=15505
06/12/2009 19:05
ASIA – ITALY
Seizure of US government bonds from two Japanese men in Italy raises questions
Seized US bonds are worth US$ 134.5 billion. The whole affair touches a number of economic and political issues. For some the resignation of Japan’s Interior minister might be related to it.
Milan (AsiaNews) – There have been new developments with regards to the story of US$ 134.5 billion in US government bonds seized by Italy’s financial police at Ponte Chiasso on the Italian-Swiss border, which AsiaNews reported four days ago. News about it initially made it to the front page of many Italian papers, but not of the international press. Since yesterday though, some reports have published by English-language news agencies. And some commentators are starting to link the story to reports in US press dating back to 30 March.
On that date the US Treasury Department announced that it had about US$ 134.5 billion left in its financial-rescue fund, the Troubled Asset Relief Program (TARP), whose purpose is to purchase assets and equity to buttress companies in trouble. The existence of such means that the Obama administration may not have to go to Congress for additional funds, something which is especially important since many lawmakers have vowed to oppose any requests for more money.
At the same time, Japan’s Kyodo news agency has reported that the resignation of Japan’s Interior Minister Kunio Hatoyama might also be related to the Ponte Chiasso affair. Officially the minister quit as a result of a row over who should head the state-owned Japan Post, but some sources have suggested that such a scenario is not very plausible since Mr Hatoyama was Prime Minister Taro Aso’s main ally in his rise to the prime minister’s office, and is especially unconvincing since the ruling coalition government has to face elections in just two weeks time. Indeed there are many reasons to connect the Ponte Chiasso incident to the minister’s resignation.
First of all, the men carrying the bonds had a Japanese passport. Secondly, they were not arrested. Under Italian law anyone in possession of counterfeit cash or bonds worth more than a few tens of thousands of euros must be arrested. By comparison the value of the seized counterfeit bonds is equal to 1 per cent of the US Gross Domestic Product (GDP). Thirdly, how the seizure took place is worthy of a Monty Python movie—two well-dressed Japanese men carrying a briefcase traveling in a local train usually used by Italian manual labourers who commute to Switzerland for work had as much chance to go unobserved as two European businessmen traveling in the Congo.
For AsiaNews the incident raises several questions. For example, why did Italy’s press, of every stripe, first give the matter great visibility, only to drop it as quickly? Also, if we are to assume that the bonds are real, why were they in Italy on their way to Switzerland? If these were the unused TARP funds why would they be in US Federal Reserve denomination? Would it not have been better to wait to see how they would be used before the bonds were issued? If they are authentic and owned by a foreign state, why were they not transported in a diplomatic bag, which cannot be inspected at customs? And what will the Italian government do insofar as the issue represents an offense under Italian law? Will it impose a fine of 38 billion euros, and run the risk of a row with an ally, or return the money without any penalty to the rightful owner and show the world that Italy is some kind of banana republic, a semi-colonial protectorate that violates its own laws and constitution?
Whatever the case may be, for Italy’s Prime Minister Silvio Berlusconi it is a heavy burden to bear, given the legal and criminal consequences he might face.
"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.
The treasure was in the hands of two Japanese from Italy were trying to enter Switzerland. In a suitcase were 249 bonds of the ‘Federal Reserve‘ American in the nominal value of 500 million each, and 10 ‘ bond Kennedy ‘ of the nominal value of $ 1 billion each, in addition to what is described as very original banking documentation.
Everything has been reported to have been seized and authorities are investigating the 2 as well as the authenticity of the bonds."
With news of Russia divesting (Russia to reduce U.S. Treasury holdings: reports) from these United States bonds and of course China as well and both (and more) wanting to start investing in IMF bonds, to start a new global reserve currency (agreed by ALL G20 nations in London) makes this story cause me to sit up straight in my seat.
Here is a scenario, which until more details about these two is know, is just a maybe...
If you were Japan, the second largest holder of US Treasuries, what would you do? You would not want to risk angering Washington and Co, especially since president Obama is so well liked. How could you quietly, unlike China and Russia whose footsteps in the night are making awful creaking sounds, divest from these bonds, this paper that could become the value of plain paper, in some doomsday scenarios (In any event, likely to lose a lot of their value.)?
Could it be Japan is spooked by the threat of The Fed being audited, as reported here?
Japan very well, and this is just a guess, may be trying to silently sell,
BILLIONS of USD worth of bonds, for a lot less then they are worth, in Switzerland, to switch it to gold, silver or heck, maybe even Euros- who knows.
All I know is that where there is smoke, there is fire. Is it hot enough to melt gold or just burn paper? This is one to keep on the radar, just it simply drops from public eye.
BREAKING - UPDATE
Almost no western sources are pushing this story, however AsiaNews is doing some digging and found some, well, incredible evidence, pointing to a state backed action, namely likely via Japan:
"Seizure of US government bonds from two Japanese men in Italy raises questions
Seized US bonds are worth US$ 134.5 billion. The whole affair touches a number of economic and political issues. For some the resignation of Japan’s Interior minister might be related to it."
And here is the key, most clear evidence that these two Japanese men were on official diplomatic business- likely to dump US bonds.
Source: http://www.nationalterroralert.com/u...ng-134-billion
And from Asia News: http://www.asianews.it/index.php?l=en&art=15505
06/12/2009 19:05
ASIA – ITALY
Seizure of US government bonds from two Japanese men in Italy raises questions
Seized US bonds are worth US$ 134.5 billion. The whole affair touches a number of economic and political issues. For some the resignation of Japan’s Interior minister might be related to it.
Milan (AsiaNews) – There have been new developments with regards to the story of US$ 134.5 billion in US government bonds seized by Italy’s financial police at Ponte Chiasso on the Italian-Swiss border, which AsiaNews reported four days ago. News about it initially made it to the front page of many Italian papers, but not of the international press. Since yesterday though, some reports have published by English-language news agencies. And some commentators are starting to link the story to reports in US press dating back to 30 March.
On that date the US Treasury Department announced that it had about US$ 134.5 billion left in its financial-rescue fund, the Troubled Asset Relief Program (TARP), whose purpose is to purchase assets and equity to buttress companies in trouble. The existence of such means that the Obama administration may not have to go to Congress for additional funds, something which is especially important since many lawmakers have vowed to oppose any requests for more money.
At the same time, Japan’s Kyodo news agency has reported that the resignation of Japan’s Interior Minister Kunio Hatoyama might also be related to the Ponte Chiasso affair. Officially the minister quit as a result of a row over who should head the state-owned Japan Post, but some sources have suggested that such a scenario is not very plausible since Mr Hatoyama was Prime Minister Taro Aso’s main ally in his rise to the prime minister’s office, and is especially unconvincing since the ruling coalition government has to face elections in just two weeks time. Indeed there are many reasons to connect the Ponte Chiasso incident to the minister’s resignation.
First of all, the men carrying the bonds had a Japanese passport. Secondly, they were not arrested. Under Italian law anyone in possession of counterfeit cash or bonds worth more than a few tens of thousands of euros must be arrested. By comparison the value of the seized counterfeit bonds is equal to 1 per cent of the US Gross Domestic Product (GDP). Thirdly, how the seizure took place is worthy of a Monty Python movie—two well-dressed Japanese men carrying a briefcase traveling in a local train usually used by Italian manual labourers who commute to Switzerland for work had as much chance to go unobserved as two European businessmen traveling in the Congo.
For AsiaNews the incident raises several questions. For example, why did Italy’s press, of every stripe, first give the matter great visibility, only to drop it as quickly? Also, if we are to assume that the bonds are real, why were they in Italy on their way to Switzerland? If these were the unused TARP funds why would they be in US Federal Reserve denomination? Would it not have been better to wait to see how they would be used before the bonds were issued? If they are authentic and owned by a foreign state, why were they not transported in a diplomatic bag, which cannot be inspected at customs? And what will the Italian government do insofar as the issue represents an offense under Italian law? Will it impose a fine of 38 billion euros, and run the risk of a row with an ally, or return the money without any penalty to the rightful owner and show the world that Italy is some kind of banana republic, a semi-colonial protectorate that violates its own laws and constitution?
Whatever the case may be, for Italy’s Prime Minister Silvio Berlusconi it is a heavy burden to bear, given the legal and criminal consequences he might face.
Last edited by c32c7; 06-19-2009 at 09:30 PM.
06-20-2009, 01:07 PM
#4
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Interesting, but I'm curious why they just didn't use embassy personnel...can't search the documents pouch...I wonder why they would do it like this?
Seems safer to:
1. Bring in the bonds via diplomatic document pouches.
2. Have men in the middle 50's meet them in Switzerland.
3. Give bonds to men.
4. Men get xyz
5. Men return xyz to embassy officials who put xyz into document pouches.
right?
Seems safer to:
1. Bring in the bonds via diplomatic document pouches.
2. Have men in the middle 50's meet them in Switzerland.
3. Give bonds to men.
4. Men get xyz
5. Men return xyz to embassy officials who put xyz into document pouches.
right?
06-20-2009, 01:39 PM
#5
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Interesting, but I'm curious why they just didn't use embassy personnel...can't search the documents pouch...I wonder why they would do it like this?
Seems safer to:
1. Bring in the bonds via diplomatic document pouches.
2. Have men in the middle 50's meet them in Switzerland.
3. Give bonds to men.
4. Men get xyz
5. Men return xyz to embassy officials who put xyz into document pouches.
right?
Seems safer to:
1. Bring in the bonds via diplomatic document pouches.
2. Have men in the middle 50's meet them in Switzerland.
3. Give bonds to men.
4. Men get xyz
5. Men return xyz to embassy officials who put xyz into document pouches.
right?
06-22-2009, 11:09 AM
#6
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Join Date: Jun 2008
Location: San Jose, CA
Posts: 1,808
Car Info: 2015 WRX
Interesting, but I'm curious why they just didn't use embassy personnel...can't search the documents pouch...I wonder why they would do it like this?
Seems safer to:
1. Bring in the bonds via diplomatic document pouches.
2. Have men in the middle 50's meet them in Switzerland.
3. Give bonds to men.
4. Men get xyz
5. Men return xyz to embassy officials who put xyz into document pouches.
right?
Seems safer to:
1. Bring in the bonds via diplomatic document pouches.
2. Have men in the middle 50's meet them in Switzerland.
3. Give bonds to men.
4. Men get xyz
5. Men return xyz to embassy officials who put xyz into document pouches.
right?
06-22-2009, 03:19 PM
#8
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You would think that would be the case. But apparently the Italian gov't didn't think it was necessary to hold these men in custody for further questioning, although the bonds in fact were counterfeits like I had originally suspected.
http://www.ft.com/cms/s/0/f200bec6-5...nclick_check=1
http://www.ft.com/cms/s/0/f200bec6-5...nclick_check=1
06-23-2009, 09:21 AM
#11
You would think that would be the case. But apparently the Italian gov't didn't think it was necessary to hold these men in custody for further questioning, although the bonds in fact were counterfeits like I had originally suspected.
http://www.ft.com/cms/s/0/f200bec6-5...nclick_check=1
http://www.ft.com/cms/s/0/f200bec6-5...nclick_check=1
06-23-2009, 11:51 AM
#12
Stimulus plan = Dumb.
For every job they create, there are maybe 2-3 other jobs that people get laid off from. I dont know what the Stimulus plans on doing, but with that way this works, there won't be ANY job creation compared to the amount of people losing their jobs. Dumb plan Obama, please leave the creation of the economy by the people who know how, the private and small businesses and capitalism. The more the government redistributes wealth, the worse we're going to end up.
For every job they create, there are maybe 2-3 other jobs that people get laid off from. I dont know what the Stimulus plans on doing, but with that way this works, there won't be ANY job creation compared to the amount of people losing their jobs. Dumb plan Obama, please leave the creation of the economy by the people who know how, the private and small businesses and capitalism. The more the government redistributes wealth, the worse we're going to end up.
06-23-2009, 11:57 AM
#13
Stimulus plan = Dumb.
For every job they create, there are maybe 2-3 other jobs that people get laid off from. I dont know what the Stimulus plans on doing, but with that way this works, there won't be ANY job creation compared to the amount of people losing their jobs. Dumb plan Obama, please leave the creation of the economy by the people who know how, the private and small businesses and capitalism. The more the government redistributes wealth, the worse we're going to end up.
For every job they create, there are maybe 2-3 other jobs that people get laid off from. I dont know what the Stimulus plans on doing, but with that way this works, there won't be ANY job creation compared to the amount of people losing their jobs. Dumb plan Obama, please leave the creation of the economy by the people who know how, the private and small businesses and capitalism. The more the government redistributes wealth, the worse we're going to end up.
