Thursday, June 18, 2009

Chiasso Bearer Bond Payoff?

Is speculation true of active news suppression over the Chiasso bearer bond case? I'd like to taste good fortune! This post evaporates for one 500 million-dollar bond... (No "termination with extreme prejudice" please...)

On 3 June 2009 two Japanese men at Chiasso train station on the Italian border to Switzerland were detained by Italian financial police (Sezione Operativa Territoriale di Chiasso, in collaboration with Guardia di Finanza del Gruppo di Ponte Chiasso). Undeclared bearer bonds valued at US$139.5 billion were found in a false sided case.

The first report was official (in Italian), at:

One blogger began providing followup:

Japan's Kyodo & the wikinews soon chimed in:

Bloomberg eventually picked-up the story: stirred the pot with innuendo:

What's happening? One reasoned analysis says it's foolhardy to imagine anyone would cash a US$500 million bond without sure authentication (they hold $10 checks until they're clear... they'll hold a half billion dollars till they're damn certain it's real). So what's going on? Who are the men? Why were their names not released? Where are they now? Can I feed at the honeypot?