'Japanese' pair reportedly held with $134 billion in U.S. bonds
 

'Japanese' pair reportedly held with $134 billion in U.S. bonds | The Japan Times Online

Two Japanese 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 newspaper reported Wednesday.

The Japanese Consulate General in Milan acknowledged that two people had been detained, but it was still trying to confirm with Italian authorities their identities and whether they are Japanese nationals.

According to the report in il Giornale, two unidentified Japanese in their 50s concealed the bonds, including 249 U.S. Treasury bonds worth $500 million each, in a suitcase with a false bottom. The bonds were found June 3 during a search by Italian authorities in Chiasso, on the border with Switzerland about 50 km north of Milan.

I remember reading this on Japan Today when it came out. Did you notice how it was pulled, then resurfaced, yet not covered by the mainstream media? Sounds like the Japanese are dumping their T-bills secretly.

The USD is at 90 yen! This could be the beginning of the dollar crash.

There are 3 possiblities, the reported value of the bonds is incorrect, the bonds are fake, or the Chinesse or Japanese government are getting rid of their bonds. Japan currently holds about $630 billion and China holds about $740 billion. After Japan and China the next largest sinle holder of US debt is Brazil at ~$130 billion.

Those number lead me to believe that the reported value of the bonds is wrong combined with them being fake. I don't see any benefit to Japan in dumping US bonds in order to drive the value of the dollar down. Had the dollar not dropped so significantly against the yen the Japanese economy would be doing a lot better. Selling products for 75% of the price you were selling them for a year earlier when your production costs are the same is a good way for even a strong company to lose money. Driving the dollar down more would only hurts Japanese manufacturers more.

No, the dollar crash would have been if those Japanese actually offloaded the bonds. The dollar is in decline, yes, but if those bonds hit the market the dollar would be demolished and the US economy would be utterly destroyed. Many analysts are suggesting that the Japanese government sensed the decline of the dollar and the theory is that the government employed these two to secretly offload the new bonds from the US.

Take it as you will.

PS: Old news.

The best thing for Japan is to ditch the American dollar completely and start rebuilding the financial structure all by themselves.

This is not just Japan's movement, South Korea is also planning to ditch the US dollar as well.

The Dollar was simply a "world currency" kinda like English was the universal lanquage. Eventually, something else will fill that spot.

Hopefully the whole World will abandon the U.S. dollar -- considering its created out of thin air anyway. We need to start backing our money with something real...


Like Gold, perhaps?

Not enough Gold in the world for that, plus the US used to back with gold, then with silver.

So you guys are all saying that the world should flip the US the bird and, what, not do business? Not play ball? Not a one industrialized country can afford to not have business relations with the US at this juncture, soooo... think about that.

Plus, if I'm correct in my understanding of your propositions, you're saying that if the world community turns its back on the US and its currency, the world will be better off? Plus, if that happens, there's a good chance the US economy will utterly implode. Are you saying that such an arrogant stance is worth destroying the lives of millions upon millions of people who've done you, nor anyone else, no wrong?

Give me a break.


PS: How does a country "ditch" an entire currency? How does that even make sense? Plug your ears and go "lalalala dollar doesn't exist!"?

GTJ,

I understand what your saying, but allow me to elaborate...

Yeah, and then in 1913 the Federal Reserve Act was passed, and the Fed was instituted. They gave full control to a small network of bankers (Rockefeller, Rothschild, etc.) who started printing money out of thin air. Contrary to popular belief, the Federal Reserve is a private profiteering group.

A privately owned central banking system is dictating and puppeteering fear and inflation through the entire world.

It's the very abuse (and ignorance) of the monetary system that makes it impossible to back money in gold. The American dollar, and currency in general, has lost 95% of its purchasing value.

Audit the Fed

Federal Reserve Act - Wikipedia, the free encyclopedia

"Give me the right to issue and control a nation’s money and I care not who governs the country.” Meyer Amschal Rothschild, International banker

Okay, fair enough, but what's all this talk about completely "ditching" US currency? I'm having a really hard time wrapping my mind around this concept... what about the ramifications of the entire world just up and deciding the US dollar has no place in the community? I see you're in Alaska, which would mean you'd be just as effed as anyone else, which I would think would be "very effed", so for what reason are you backing such an idea?