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two men arrested with suitcase with $134,000,000,000

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jimotis4heisman

jimotis4heisman

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Suitcase With $134 Billion Puts Dollar on Edge: William Pesek - Bloomberg.com
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.
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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.
GDP Carriers
Think about it: These two guys were carrying the gross domestic product of New Zealand or enough for three Beijing Olympics. If economies were for sale, the men could buy Slovakia and Croatia and have plenty left over for Mongolia or Cambodia. Yes, they could have built vacation homes amidst Genghis Khan?s Gobi Desert or the famed Temples of Angkor. Bernard Madoff who?
These men carrying bonds concealed in the bottom of their luggage also would be the fourth-largest U.S. creditors. It makes you wonder if some of the time Treasury Secretary Timothy Geithner spends keeping the Chinese and Japanese invested in dollars should be devoted to well-financed men crossing the Italian-Swiss border.

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Counterfeit $100 bills are one thing; two guys with undeclared bonds including 249 certificates worth $500 million and 10 “Kennedy bonds” of $1 billion each is quite another.
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Click to expand...
 
about time this starts getting some press. it happened about a week ago. either outcome is not good in this case. either it is real, and someone (a major country likely japan or china) is trying to unload a sizeable portion of their US dollar holdings, or someone (likely north korea) is running a massive forgery operation of USD.

here is an interesting take on it
The Saga Of The Bearer Bonds - The Market Ticker

here is the first i saw of it last week
http://market-ticker.denninger.net/archives/1114-Smuggling-Or-Counterfeit-Printing.html

there is a video of them counting the bonds somewhere on youtube
here we go...
[ame="http://www.youtube.com/watch?v=IdUHjlVFbiY"]YouTube - $134 Billion in Bonds Intercepted on the Swiss/Italian Border![/ame]
[ame="http://www.youtube.com/watch?v=LSCwiTCQYAA&feature=related"]YouTube - Itailan authorities seize $134.5 billion in US Treasury bonds from two Japanese nationals[/ame]
 
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All we are asking for, in developing countries, is a little bit of consistent guidance. Really! Enough is enough!

You tell us, "you have to export more".

You tell us, "you have to integrate yourselves more into the world currency and investments markets."

You tell us, "you need to study how the champion exporters, like the Japanese and Germans, do things."

So, we follow your instructions to the letter, and look how you react.

Just a bit of consistent guidance. Is it too much to ask?

:slappy:
 
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Bond U.S. Bond........

I wonder if they may need some help unpacking that suitcase?

They would miss a mere $500,000,000 would they?

Just think of 1/2 of 1/2 of 1% of that in real money in my account.

Maui here I come!
 
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Do we have a Treasury confidence problem? Maybe. The latest data released Monday shows that China was a net seller of Treasuries in April. Given that we think we can issue $2 trillion of new ones over the next year or so to pay for our profligate government spending programs...
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This is where things could get really sticky in a hurry. If we can't sell the bonds yet we proceed with the spending we'll have inflation like we haven't seen in this country in years, if ever. If we cut back on the spending, a lot of people who were promised a lot of things by our government will not be happy, especially after they were told they had a "right" to whatever it was they wanted at the time. :ohwell:
 
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One of the first reports that came out of AsiaNews claims that the men were carrying 'Federal Reserve Bonds' with a face value of half a billion dollars each. As we know, there are no federal reserve bonds, only notes, which are commonly referred to as paper money.
 
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