Is the US behind the $134 billion dollar bonds?

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PostSat Jun 20, 2009 5:30 pm » by Drextin


http://www.bloomberg.com/apps/news?pid=20601039&sid=a62_boqkurbI

There is a lot of speculation about this story..........and none of it no matter how conservative is good for the economy.

June 17 (Bloomberg) -- It’s a plot better suited for a John Le Carre novel.

Two Japanese men are detained in Italy after allegedly attempting to take $134 billion worth of U.S. bonds over the border into Switzerland. Details are maddeningly sketchy, so naturally the global rumor mill is kicking into high gear.

Are these would-be smugglers agents of Kim Jong Il stashing North Korea’s cash in a Swiss vault? Bagmen for Nigerian Internet scammers? Was the money meant for terrorists looking to buy nuclear warheads? Is Japan dumping its dollars secretly? Are the bonds real or counterfeit?

The implications of the securities being legitimate would be bigger than investors may realize. At a minimum, it would suggest that the U.S. risks losing control over its monetary supply on a massive scale.

The trillions of dollars of debt the U.S. will issue in the next couple of years needs buyers. Attracting them will require making sure that existing ones aren’t losing faith in the U.S.’s ability to control the dollar.

The dollar is, for better or worse, the core of our world economy and it’s best to keep it stable. News that’s more fitting for international spy novels than the financial pages won’t help that effort. It is incumbent upon the U.S. Treasury to get to the bottom of this tale and keep markets informed.
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PostSat Jun 20, 2009 5:37 pm » by Cornbread714


Wow, what a story! This beats blackjack all to hell. 134 BILLION in suitcases?
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PostSat Jun 20, 2009 5:42 pm » by Drextin


cornbread714 wrote:Wow, what a story! This beats blackjack all to hell. 134 BILLION in suitcases?

Isn't it funny how this story has not made the major headlines?
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PostSat Jun 20, 2009 6:17 pm » by Sonicattack


This is truly an interesting one. Bloomberg suggests that the bonds are fake, but the Italian authorities say that they are the real deal.

Also, the two Japanese where carrying some bonds worth 1billion each, which are issued to countries only.

Now Japan is proclaiming that they back the dollar, yet two of its citizens are caught (obviously someone blew the whistle on them) smuggling (?) these huge amounts in bonds issued to countries only.

Even if they where fakes, why carry them to Switzerland? Again, if they where fakes, why blow the whistle on them? Is someone (person, organisation, country) faking these? (reminds me of the movie "The Counterfeiters" )

Something is seriously wrong anyway you see it.



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