» 06/08/2009, 00.00
ASIA – ITALY
US government securities seized from Japanese nationals, not clear whether real or fake
Bonds worth US$ 134.5 billion are seized. This is the largest financial smuggling case in history. But are they real? Concern over ‘funny money’ or counterfeit securities is spreading in Asia. The international press is silent.
18/06/2009 ASIA – ITALY
Mystery surrounding 134.5 “fake” billion US dollars seized in Ponte Chiasso remains
After two weeks a US Treasury official says securities were fakes. Italy’s financial police is silent. The case is still baffling and full of discrepancies.
Everything suggests that the American bonds seized at Chiasso are real
Official U.S. sources continue to say they are fakes, but there is no news that American experts have inspected them in person. Arrested for another matter, the director of a U.S. radio who says the bonds are real and Japan was trying to sell in Switzerland, not trusting the ability of the United States to honour its debt.
23/06/2009 ASIA – ITALY
Securities seized in Chiasso still between a wall of silence and a flow of disinformation
Neither Italian nor US authorities have officially said whether the seized US Treasury bills worth US$ 134.5 billion are real or fake. A US Treasury spokesperson said they were fakes, but acknowledged that he only saw them in a photo on the internet. For Italy’s financial police, if they are forgeries, they are practically indistinguishable from the real stuff. Both the US Federal Reserve and the Bank of Japan have an interest in denying their authenticity.
12/06/2009 ASIA – ITALY
Seizure of US government bonds from two Japanese men in Italy raises questions
Seized US bonds are worth US$ 134.5 billion. The whole affair touches a number of economic and political issues. For some the resignation of Japan’s Interior minister might be related to it.
Economic crisis renews prospects for world currency
As the number of prophets of doom multiplies, the demand-side structural imbalance of the world economye, now under scrutiny in many economic studies, lies in the artificial compression of Chinese domestic consumption.
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