This is going to be a short diary, cause I don't have the time to stick around. And if this has been diaried, please let me know and I will delete. But today, according to Bloomberg, two people have been detained in Italy with $134 BILLION worth of bonds!?
How is this even possible?
Japan is investigating reports two of its citizens were detained in Italy after allegedly attempting to take $134 billion worth of U.S. bonds over the border into Switzerland.
"Italian authorities are in the midst of the investigation, and haven’t yet confirmed the details, including whether they are Japanese citizens or not," Takeshi Akamatsu, a spokesman for the Ministry of Foreign Affairs, said by telephone today in Tokyo. "Our consulate in Milan is continuing efforts to confirm the reports."
What? Come again? Bloomberg further reports:
The undeclared bonds included 249 certificates worth $500 million each, the Asahi said, citing Italian authorities. The case was reported earlier in Italian newspapers Il Giornale and La Repubblica and by the Ansa news agency.
I guess I can understand millions of bills going missing in Iraq, but $134 billion is not something without traceability.
Obviously, without further facts, speculation is going to be furious until further facts are known. Vote or put your Clue theory into comments.
UPDATE:
Apparently this is not BREAKING news. According to this Earth Times report the perps were apprehended on June 3, but the news is just hitting the wire today:
The would-be smugglers, who were travelling by train, were caught by customs officials more than a week ago. On June 3, finance police conducting a routine check discovered the securities under a false bottom in one of the men's suitcases.
The two men - said to be Japanese nationals both over 50 - had not declared the securities, which according to the Guardia di Finanza consisted of 10 so-called Kennedy bonds of a billion dollars each and 249 US government bonds with a face value of 500 million dollars each
(h/t Taunter) A photo of the bonds in question
EDIT
gjohnsit diaried this in the wee morning yesterday, probably got looked over
UPDATE 2:
Comment from drsmith131 suggests that this is an age old scam,with a link to the federal reserve documenting such scam. How could a major financial news organization like Bloomberg get duped like this?