Thread: I know Switzerland is expensive, but...

Italian Police Ask SEC to Authenticate Seized U.S. Treasuries
Share | Email | Print | A A A


By Sonia Sirletti and John Glover
June 12 (Bloomberg) -- Italy’s financial police said they asked the U.S. Securities and Exchange Commission to authenticate U.S. government bonds found in the false bottom of a suitcase carried by two Japanese travelers attempting to cross into Switzerland.



The bonds, with a face value of more than $134 billion, are probably forgeries, Colonel Rodolfo Mecarelli of the Guardia di Finanza in Como, Italy, said today. If the notes are genuine, the pair would be the U.S. government’s fourth-biggest creditor, ahead of the U.K. with $128 billion of U.S. debt and just behind Russia, which is owed $138 billion.



The seized notes include 249 securities with a face value of $500 million each and 10 additional bonds with a value of more than $1 billion, the police force said on its Web site. Such high denominations would not have existed in 1934, the purported issue date of the notes, Mecarelli said. Moreover, the “Kennedy” classification of the bonds doesn’t appear to exist, he said.
The bonds were seized in Chiasso, Italy. Mecarelli said he expects a determination from the SEC “within a few days.”




Italian Police Ask SEC to Authenticate Seized U.S. Treasuries - Bloomberg.com

The SEC couldnt find a pint, in a pub.

Interesting story, although it would have been better if it was two Nigerians in Pattaya, it would have been more believable.

ahead of the U.K. with $128 billion of U.S. debt

Time to call it in I say.

^How about some shares in GM instead?