Finance Geek

2 Japanese carrying $134 Billion worth of U.S. bonds detained in Italy › Japan Today

poortaste:

ledgergermane:

• ROME —
• 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.
  
  According to the report in il Giornale, two unidentified Japanese in their 50s concealed the bonds, including 249 U.S. Treasury bonds each worth $500 million, in a suitcase with a false bottom that was searched by the Italian authorities June 3 when they were in Chiasso, at the border with Switzerland, about 50 kilometers north of Milan. The daily did not say on what charges they have been detained, but the two may have been detained on suspicion of attempting to take a large amount of securities out of Italy without declaring it because the paper said they had not declared the bonds.

When big amounts of monies are secretly moving around in shadows, this might indicate something much larger is cooking.

When in doubt, follow the money - It never lies.

This is going to turn into one interesting story when they figure out whose bonds they were carrying. The shit is really hitting the fan in Japan, and even the rich are getting scared.