Someone once told me to make sure you read the Friday afternoon news, because that is the time that important items that folks want you to miss are published. That said, there is this strange story floating around about $134 billion in US Treasury bearer bonds that were allegedly being smuggled by two men from Italy to Switzerland. I have no idea if the story is true, and if it is, if the bonds are real, however since a number of the links I followed came up as 404 errors, I thought I’d memorialize two legitimate sources announcing the story. One from Bloomberg.com and the other from The Independent in the UK. Oddly, despite the fact that the story references $134 billion in US denominated securities, and despite the fact that that amount of money would make the two men one of our country’s largest bond holders, this story has not been syndicated up by US mainstream media.
For a deeper analysis as to how legitimate this story might be, see the snarky letter to Tim Geitner at Zero Hedge titled: An Open Letter To The Secretary Of The Department Of The United States Treasury
$134bn bond scam arrests
Hannah McCarthy, The Independent, June 14, 2009
Japan Probes Report Two Seized With Undeclared Bonds (Update2)
Shunichi Ozasa and Makiko Kitamura, Bloomberg, June 12, 2009
An Open Letter To The Secretary Of The Department Of The United States Treasury
Marla Singer, Zero Hedge, June 13, 2009