Japan is investigating reports two of its citizens were detained in Italy after allegedly attempting to take $134 billion worth of U.S. bonds over the border into Switzerland.
“Italian authorities are in the midst of the investigation, and haven’t yet confirmed the details, including whether they are Japanese citizens or not,” Takeshi Akamatsu, a spokesman for the Ministry of Foreign Affairs, said by telephone today in Tokyo. “Our consulate in Milan is continuing efforts to confirm the reports.”
It is unknown whether the bonds are real or counterfeit. If they're real, then some government is secretly trying to divest itself of U.S. bonds, which bodes very poorly for America's economic situation. If they're counterfeit, then there may be hundreds of billions more counterfeit U.S. bonds in Europe, which bodes very poorly for America's economic situation.
This news sure is taking a long time to reach major news outlets.