It is either the biggest smuggling operation in history -- or a fraud of equally impressive proportions. Italian customs officials stopped two men at the Swiss border carrying bonds worth $134 billion (95.8 billion euros).More at Der Spiegel. Absolutely fascinating (if real). Who is behind smuggling at the level of hundreds of billions???
The two men, reported to be more than 50 years old, were traveling by train from Italy to Switzerland on June 3. Financial police at a control on the border found the documents tucked inside a closed section at the bottom of their suitcase, separate from their personal items. According to their statement, the men's luggage included 249 government bonds worth $500 million and 10 so-called Kennedy bonds, each worth a billion dollars.
15 June 2009
$134 BILLION dollars - in a SUITCASE
Billion, mind you - not million. $134,000,000,000 worth of securities found in a suitcase by customs agents. And not in Zimbabwe - in Italy! The smugglers were Japanese, heading toward Switzerland: