Friday Afternoon News: $134 Billion in Smuggled US Bearer Bonds

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.

6.12.09 Bloomberg - Japan Probes Report Two Seixed with Undeclared Bonds

6.12.09 Bloomberg - Japan Probes Report Two Seixed with Undeclared Bonds

6.14.09 The Independent - $134bn bond scam arrests

6.14.09 The Independent - $134bn bond scam arrests

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

Sources:
$134bn bond scam arrests
Hannah McCarthy, The Independent, June 14, 2009
http://www.independent.co.uk/news/world/europe/134bn-bond-scam-arrests-1704893.html

Japan Probes Report Two Seized With Undeclared Bonds (Update2)
Shunichi Ozasa and Makiko Kitamura, Bloomberg, June 12, 2009
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ayy1QKcwcGN0

An Open Letter To The Secretary Of The Department Of The United States Treasury
Marla Singer, Zero Hedge, June 13, 2009
http://zerohedge.blogspot.com/2009/06/open-letter-to-secretary-of-department.html

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: