Two men in their 50s with suitcases with false bottoms, are caught in Chiasso, Italy with 135 billion U.S. dollars in U.S. bonds illegally. Apparently these people are trying to smuggle the bonds in the Italian border to Switzerland in order to pay into an account. The stash includes 249 U.S. Federal Reserve bonds worth 500 million U.S. dollars each plus ten, "Kennedy" bonds and other U.S. government bonds worth one billion U.S. dollars according to AsiaNews.
Since the story appeared on June11. No fees were collected was brought, nor in Italy, Guardia di Finanza, the identity or nationality of the accused released. On 12 June, one days after the seizure, the Guardia di Finanza, Colonel Mecarelli urged the SEC (Securities and Exchange Commission) to verify the authenticity of the gang, and said he expected an answer in a few days. "
All these later days later and still no word from the SEC, the U.S. Department of the Treasury, the White House or the ItalianGovernment on its legality. And in the meantime, not a headline from CNBC, MSNBC, CNN, Fox Business, New York Times, the Wall Street Journal, Washington Post, or almost any other American mainstream media outlet, and found the story quite heavy, even with Internet search engines. 135 billion U.S. dollars in U.S. bonds is about 1% of our GDP, almost smuggled into Switzerland during an economic collapse, and nobody feels like talking about it.
Could this really aNon-story? The mere impact of these smuggled bonds should therefore Front Page News, or at least a blurb on the news channel. For either of these bonds are forged and the Italian government thwarted the boldest, most impressive and expansive counterfeiting ring disappears in the known world, or the confidence in the dollar as the international currency so quickly that other nations like a descent deal with storage, dumping, before their hits rock bottom and get what they want from a toxicAsset in the production of cold hard cash. A maneuver that other foreign investors from the U.S. debt effectively cutting off the international credit card we have with more and more could get from fear. Both scenarios are at least newsworthy, if not a career make history, may provide for any journalist to fight him, but not read an article, nor heard a talking head. Weird? Yes. But it gets even crazier.
Assuming they are real, are names like these U.S. bondsGovernment strictly applied-to-government transactions, so that they are almost impossible to forge, are never used in the private sector, and are not stolen simply because of their rarity. Only one nation, the central bank can print issue of bonds, and would access U.S. bonds, as they receive after buying only a part of our treasuries, alternatively, our national debt. Any other transaction that is a bond, electronic, paper freely through the Depository Trust and ClearingCorporation. Meaning there can not get a private investment broker in the world, the American government bonds in their paper worth $ 135 billion, without depriving the Federal Reserve.
A report then emerged, giving the smugglers Japanese nationals, which serves only the act of what could thicken the next Tom Clancy novel. Since the Japanese investors are the largest foreign holders of Treasury bonds to China with $ 686.7 billion of securities after the MarchTreasury Department, Liquidation 135 billion U.S. dollars, or about 25 percent of Treasuries, they even make sense. The recent economic collapse killed ahead of global demand for our bonds and the yen 8.5 percent against the dollar since September Japan caused the income of the tumble a record 69 percent last quarter. With increasing national America's current account deficit, stagnant job market, falling dollar, and sagging retail numbers to pay back the money we owe Japan and China and Russia for that matter, isby no means guaranteed.
But all speculation aside, this remarkable story has made one thing clear. Even in the age of the Internet, mobile technology and the 24-hour news cycle kept choke points of information. At the right time the right people in the flow of information through mainstream sources Squeezed may be cut off. Without the press, ask questions and get names, we must rely on the wicked that the human nature to ignore and report themselves as criminals. What's moredisheartening is that thousands of journalists and editors from hundreds of publications around the world to ignore this history, and without good reason. International intrigue with a false bottom suitcases, Swiss bank accounts, the U.S. bond and shady backroom deals, a journalist's dream is not a single journalist taken to the task.
Every day this story are dormant American journalists inches further away from its roots as a cynical social and watchdogs and muckrakerscloser to the complete subversion of the press and the protection of their reporting is available. If 135 billion U.S. dollars in U.S. bonds is almost smuggled into Switzerland on the false bottom suitcases nothing new for the American media, what is?
by: Harold Johns III
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