Chump change

17 June, 2009 (14:05) | Journal | By: Colin McGinley

The story that is slowly making the rounds about how two Japanese men were detained on the border between Italy and Switzerland with $134 billion worth of US bonds found in a suitcase is well worth keeping an eye on.

Are the bonds real? If they’re real then how did they get hold of them? It also makes them the fourth largest investors in US debt (just behind Russia but ahead of Britain).

If they’re forgeries then it amounts to counterfeiting on a massive scale.

Whatever is uncovered it’s sure to make the Fed squirm.

Reports can be found on Bloomberg and the edfaTimes.

Related Posts:

Write a comment

You need to login to post comments!