(visit the link for the full news article)
Two Japanese nationals were detained by Italian financial police last week after trying to enter Switzerland with $134 billion worth of undeclared U.S. bonds, mostly Treasury bonds, an Italian daily said Wednesday. The Japanese consulate general in Milan confirmed that the detention had taken place and said it was trying to confirm with Italian authorities whether the two were indeed Japanese nationals and their identities.
the two may have been detained on suspicion of attempting to....
(English Translation of this:
USA securities for 96 billion euros.
249 bonds of the Federal Reserve of the United States, each with nominal value of 500 million dollars, as well as 10 Kennedy bonds each of 1 billion dollars in value, hidden in the double bootom of a suit case, for a total of a good 134 billion dollars, equal to more than 96 billion euros.
This is how much was sequestered [don't know legal implication of this term] at the internation railway station in Chiasso, at the Swiss-Italian border, functionaries of the Territorial Operational Section of Chiasso, in collaboration with soldiers/members of the Financial Police [Guardia di Finanzia] of Ponte Chiasso, during the checking of bags aimed at stopping the illegal trafficing of capital.
The amount was in the possession of to fifty year old Japanese men who had arrived at the Chiasso railway station on a train coming from Italy and who, when checked by customs, had stated that they had nothing to declare.
Instead an accurate check of the bags facilitated the discovery of the American securities, hidden in the bottom of the suitcase, in a closed section separated from the part of the bag containing personal items.
Apart from the securities the Japanese men were carrying a considerable sum of original bank documents.
Investigations are underway to establish the identity and the origin of both the bonds and the bank documents that have also been impounded. If the securities are authentic, based on regulations in place, the penalty applicable to the possessors [of the bonds] could reach 38 billion euros, equivalent to 40% of the sum in excess of the acceptable baggage allowance of 10 thousand euro.
Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.
It originated at approximately 7:15 CT this evening and originated out of Asia somewhere. All of the primary currency crosses got hit at once - Euro, Pound, Yen - all weakened dramatically against the dollar and it is still going on. The Asian stock markets got walloped at the same time in coordinated waves of forced selling.
At the same time the US futures markets got nailed as well, down some six handles on the /ES in a near-vertical drop. While this sounds "not that big" to move these markets in a coordinated fashion like this is a trillion-dollar enterprise - this is not some small company that went bankrupt, or even a large company.
They aint Japanese. They are Chinese.
Originally posted by Dorfl
company/private person that somehow got their hands on this. Are there any ex-dictators that could have taken this out of their till?
I have tried checking sources on this, but if anyone finds this to not be factual then ---pardon me.
Two Japanese trying to get into Switzerland were searched and 134 billion dollars in U.S. bonds were found in a false bottom suitcase.
That is a lot of money. It is reasonable to suppose they were not your ordinary businessmen or even drug lords. That quantity most likely is a foreign government that quietly wants to get their assets out of U.S. dollars and into gold or even Euros. Quietly.
Which leads to another link (newsusa.myfeedportal.com... ) discussing the Fed hiring a former Enron lobbyist to allay fears of any oversight of their greater power over the last year or so. Makes a reasonable person question the role of the Federal Reserve and the possibility that all is not right with that powerful entity. Raises the concern that they need auditing.
That second link has a short video of the Inspector General of the Fed testifying that she does not know where the hundreds of millions in bailout money went.
I know economics can be dull but 134 billion dollars is a lot of money to be hauling around in a suitcase. This has implications for our whole economy and questions the likely devaluation of the dollar.
Originally posted by SLAYER69
They aint Japanese. They are Chinese.
It's all part of a plot to bring down the dollar.
Takes his foil hat out of draw and dusts it off.
I remember a few weeks back a post here on ATS about some rather funny runs on US bonds that threatened the dollars value. I wonder if this is just a part of that plot.
Anybody remember that post?
I cant seem to find it.
SÃO PAULO -- Brazil and Russia are set to unload U.S. Treasury bonds as they acquire $10 billion each of new International Monetary Fund securities designed to bolster the institution's aid programs, officials in the countries said Wednesday.
There was an honesty moment when Secretary Geithner was in Beijing University giving a speech. He said, Your investments in a trillion dollars worth of U.S. debt are secure, and the audience laughed at him. It's very un-Chinese to do, to embarrass a speaker in public, but I think it reflected a growing concern in Beijing.
Originally posted by reugen
The Chinese depend on a strong dollar, their exports are mainly to the US, they want you to afford to consume their goods. China has always tried to artificially peg their Yuan to the Dollar. So bringing down the value of the US dollar would be counterproductive, worsening the economic downturn.