Market Skeptics blogged an interesting story about US$ 135 Billion Treasury Bonds found in a suitcase belonging to 2 Japanese nationals by Italian custom officials on the Italian/Swiss border.
Read it here (Mogambo Guru in Asia times) and here (Guardia di Finanza), and here (Bloomberg) and if you can read Dutch here for the Financiele dagblad
Interestingly, we expect the bonds to be false. But, according to the Financiele dagblad, if the bonds are real, Italian customs can seize 40% of the amount, wiping out the Italian budget deficit.
Important: Die Welt (Germany) claims the bonds are real.
Watch a video of Japanese TV showing the content of the suitcase, here (in Japanese):
Update: Claim: Bonds have been faked by USA: if this is true all US bonds owned by foreign entities will be seen as highly suspicious. No collateral. Fake money, fake bonds, fake statistics and full throttle towards the cliff....
Max Keiser lost his cool completely in this video. And right he is.
Update1: William Pesek writes about the bonds in Bloomberg:
"....This is still a story with far more questions than answers. It’s odd, though, that it’s not garnering more media attention. Interest is likely to grow. The last thing Geithner and Federal Reserve Chairman Ben Bernanke need right now is tens of billions more of U.S. bonds -- or even high-quality fake ones -- suddenly popping up around the globe..."Update2: From Prisonplanet.com:
On March 30, 2009, the US Treasury Department announced that USD $134.5 billion remained in its Troubled Asset Relief Program [TARP]. The stated amount of seized bearer bonds was $134.5 billion. Coincidence?Update 3:
Update4: Business Insider.com: Japanese bond smugglers are missing
What the heck is going on with these "fake" bonds. Today another story: Japanese Bonds @ 15
Billion € Confiscated in . http://is.gd/167Bd Italy
Update5: The death of the Dollar
Update6: It's the Maffia and US thinks they're fake
Update7: Denninger: This is BS as it does not add up (6/21/2009)