Smuggled Bonds May Be Real

The bonds that were to be smuggeled by two Japanese nationals and sequestered by the Italien fiscal police, seem to be the real thing – at least some of them – as reports the  Austrian paper Kurier.

According to the newspaper who refers to statements made by the italian fiscal police (GDF), at least the Federal Reserve Bonds are real, however, with the Kennedy Bonds, they not sure yet.

If that is confirmed, then Italy might just have hit the Jackpot and earned itself some 38 Billion Dollar. Since these are bearer papers, payable to the one who presents them, the Federal Reserve would normally have to honor them. With what? Well, with Dollars, of course, which it can print at its leisure, or the Fed can just make a transfer to the account of the Banca d’Italia.
If Switzerland profits from this as well, because the two smugglers were busted in Chiasso – which is in Switzerland, I do not know.

This is a strange story in any case. Who wanted to transfer these bonds to whom and for what purpose? Too bad that at least one of the Federal Reserve Bonds didn’t make it into my letterbox!