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Italian border police snag $135 Billion in US bonds
Border police are always on the lookout for the next big catch. I'm sure every border cop dreams of being the next hero to arrest someone with a stash of drugs, or a ton of hidden cash. But I bet nothing prepared Italian border police for what they discovered earlier this week - 2 Japanese men trying to pass into Switzerland with $134.5 Billion in US bonds.
With the recent economic malaise, people were joking that Billion is the new Million - but that may not be too far from the truth after this find.
Of course, the big question is whether the bonds are real, and what exactly these 2 Japanese gentlemen were doing trying to bring them into Switzerland. $134.5 Billion of our (borrowed) money is a lot to have moving around the globe.
The funniest part is that if the bonds are real, the Italians may be eligible for 40% of the haul thanks to their strict money laundering laws. Which would probably solve their deficit problems for the next couple of months.
