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Originally posted by burntheships
Originally posted by Trunkeight
Excuse me, I already posted this precise information @ 2:28pm.
Why have you reposted this as your own??
Interesting set of ethics here...
You are mistaken...
your post different thread...2.28p.m.......
This thread...This story was posted first on this thread at 2.46 A.M.
Originally posted by Dorfl
OR...They were meant to get caught to give the U.S. a 134 billion dollar windfall.
The bonds are now in Italian custody. I wonder what will happen to them if the bearers can't prove they have come by them legally? I'm guessing they will be sent back to Washington. The Italians won't keep the 40%, their relations with the U.S. are far to important for them.
What's got the Chinese so spooked? Chinese concerns about the U.S. economy have been growing lately, especially as the U.S. dollar declines against other world currencies. So far this year, the greenback is down more than 10 percent against other currencies. The Chinese are believed to keep about 70 percent of their $2 trillion foreign assets in dollars, so they are taking quite a hit.
The world's most important bond salesman told a Peking University audience Monday that "in the United States, we are putting in place the foundations for restoring fiscal sustainability." News reports said the audience tittered at that one, and no wonder. The Chinese are well aware of the great American fiscal and monetary blowout, with the 2009 federal budget deficit set to reach 13% of GDP, if the U.S. catches a break or two.
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TOKYO, June 12 (Reuters) - Japan has complete trust in Treasuries and U.S. support for a strong dollar, Japanese Finance Minister Kaoru Yosano was quoted as saying in a Bloomberg interview.
"We have complete trust in the fact that the U.S. views its strong dollar policy as fundamental," Yosano, also economics minister, said in an interview with Bloomberg that was conducted on June 10 and published on Friday.
"Our trust in Treasuries is absolutely unshakable."
The dollar's position as the world's reserve currency is not under threat and Japan has no intention of asking the U.S. government to sell yen-denominated debt, Yosano was also quoted as saying.
TOKYO, June 12 (Reuters) - Japan's internal affairs minister is to resign after a row with Prime Minister Taro Aso over a personnel issue, in a blow to Aso ahead of a looming election, Kyodo news agency said on Friday.
Internal Affairs Minister Kunio Hatoyama had insisted that Yoshifumi Nishikawa, president of Japan Post [JP.UL], should be replaced. Aso had insisted Nishikawa remain in his position.
Hatoyama had insisted that Nishikawa be replaced because of Japan Post's attempt to sell its nationwide resort complex to leasing company Orix Corp (8591.T). The chairman of Orix had helped craft a government plan to privatise the postal system.
Yet, this story is not just about Italy potentially hitting the jackpot. It is also about the United States, and the fact that sovereign governments may be trying to dump US treasuries on the black market for fear that they soon will be worth very little.
Japan probes report of 2 seized in Italy
Claim says men detained attempted to take $134b in US bonds over the border.
Italian customs officials stopped two men at the Swiss border carrying bonds worth $134 billion (95.8 billion euros). Italian customs officers on the Swiss ...
June 12 (Bloomberg) -- Italy’s financial police said they asked the U.S. Securities and Exchange Commission to authenticate U.S. government bonds