This is a profoundly strange story.
As everyone knows from watching Die Hard, bearer bonds are unregistered (i.e., anonymous) instruments whose ownership is determined by physical possession. Kind of like cash but in larger denominations.
Much larger, actually.
Italian border guards seize $134 billion in U.S. bonds at Swiss border
Two Japanese nationals on their way to Switzerland had $134 billion worth of bearer bonds in a hidden compartment in a suitcase. If they turn out to be real, this would be by far the largest seizure of undeclared currency ever.
The U.S. has not issued bearer bonds since 1982, crackpot theories notwithstanding.
Now, I understand forging $20 or $100 bills. But who forges $500 million instruments? And who would be stupid enough to buy them?
Two middle-aged Japanese nationals, apparently.
See also Italy Seizes $135 BILLION Of US Bonds and Japanese TV Discovers The Case Of The $134.5 Billion In Seized Bonds.
It is a little surprising that this story has received so little play in the U.S. media. What if these guys turn out to be working for North Korea? Now that would be fun.
The question is: what would they have done in Switzerland that they couldnt do anywhere else?
tin foil hat comment: could a gov’t hide that money in Switzerland and use it for undocumented purposes?
it’s either the most audacious fraud ever (even larger than what organized crime would attempt, since the burn would be SO caustic that the perps know they’d be on the run for the rest of their (expectedly shorter) lives) or it involves govts and the securities are legit – the media muzzling points more to the latter, and i am surprised that there has not been any declaration that they are fake, since that is very believable and would suit govts if indeed they are involved – nonetheless, i think the greater percentage play is that they are fakes – if govts were involved, then there would have NEVER been a “gotcha” on the part of some lowly border guard
carry on