Italian border guards seize $134 billion in U.S. bonds at Swiss border

Discussion in 'Defence & Strategic Issues' started by Sridhar, Jun 25, 2009.

  1. Sridhar

    Sridhar House keeper Moderator

    Feb 16, 2009
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    Italian border guards seize $134 billion in U.S. bonds at Swiss border
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    Thursday, June 11, 2009

    Italian police of the Guardia di Finanza have seized US$134 billion (€96 billion) of United States bearer bonds at the border with Switzerland at Chiasso. The bonds include 249 Treasury bonds worth $500 million each, and ten $1 billion Kennedy Bonds. Bearer bonds are unregistered bonds that are redeemable by whoever is in possession.
    Customs office at Chiasso

    The bonds were being transported by two men claiming Japanese citizenship arriving by train, and were undeclared. They were uncovered by inspectors beneath a false bottom in a suitcase.

    If genuine, Italian law will permit the government to seize 40% of the value, some $54 billion (€38 billion) for failure to declare these bonds.

    The Japanese government has said that they are aware of the situation and that they are working with the Italian government to confirm the identity and nationality of the individuals.

    Joe Weisenthal of The Business Insider speculates that the bonds are indeed forgeries. The United States no longer issues bonds in such high denominations. Further, according to the U.S. Treasury only the nations of China, Japan, and Russia own this much in U.S. debt instruments. Wikinews has been unable to confirm that "Kennedy Bonds" were ever issued.$134_billion_in_U.S._bonds_at_Swiss_border
  3. p2prada

    p2prada Stars and Ambassadors Stars and Ambassadors

    May 25, 2009
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    Holy Hell
    Wow a $54B Fine.:D
  4. venkat

    venkat Regular Member

    Apr 6, 2009
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    has any of our babus have taken japanese citizenship recently? JMT
  5. John

    John Guest

    i think it was Maya pretending to be a Jap.

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