Smuggling - $134 Billion at a time?

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It appears that two Japanese gentlemen attempted to take $134 billion (yes, with a B) across the Italian border without declaring it. These were in bearer securities, some with a face value of $500 million each.

At that level, the money is unlikely to come from any private fortune; so, it must be from some government somewhere. On the other hand, perhaps it is counterfeit. But - who would actually accept something like that without the most careful authentication?

LINK to original article (http://www.asianews.it/index.php?l=en&art=15456&size=A)

Karl Denninger has written some speculations which you might find interesting as well.

First Link (http://market-ticker.org/archives/1114-Smuggling-Or-Counterfeit-Printing.html)

Second Link (http://market-ticker.org/archives/1119-The-Saga-Of-The-Bearer-Bonds.html)

Strange situation, isn't it?

[BigJimCalhoun]

The two additional links above provided an interesting perspective, given that I do not have knowledge of the financial markets in those areas.

[Sigaba]

The Financial Times is reporting that Italian and American officials have concluded that the items seized were counterfeits and that the evidence suggests that the Mafia may be responsible for this operation.

The article is available here (http://www.ft.com/cms/s/0/82091ec2-5c2f-11de-aea3-00144feabdc0.html).

For what ever reasons, the Italian authorities have released the two men and now have no idea of their whereabouts.

Equally strange is the apparent nonchalance of the Italian authorities regarding the ongoing activity of counterfeiters. In this case, they're more surprised by the amount of fake bonds seized.

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For what ever reasons, the Italian authorities have released the two men and now have no idea of their whereabouts.


Odd, isn't it? If someone were caught passing fake $20 bills, they would have some 'splainin to do. But with this sum, they simply go on their way.

[Hostile0311]

I live on the tiny island of Malta...60 miles south of Sicily. You'd be surprised what goes back and forth without so much as a batting of anyones eyelid. Marching to the beat of a different drum comes to mind as its the Mediterranean lifestyle. Or paying someone to march to a different beat while your band goes in another direction is entirely acceptable in some circles. But try getting a simple package thru customs with baby clothes and toys and your detained by the Gestapo for hours, subject to 18% VAT (Value Added Tax) + customs fee. Its a funny world over here I must say. OTHO, maybe they work for Berlosconi. He is one of the richest men in the world, assests of which are quite dubious...just look at his hairpiece.