Counterfeit Bonds?

" Listen to this one and ask yourself why is no one covering this story there is a fake -- scam. We think. Two middle aged Japanese men reportedly caught trying to cross from Italy into Switzerland with a 134. Billion dollars in bonds. -- 134. Billion dollars remember that number. It presents two possibilities both are really bad either they're fake which means people are trying to flood the market with fake cash and it's probably a country doing that. Does remember bonds at the same as cash or worse. It's real and some country some sovereign fund is trying to quietly dumped their reserves he would have to be a country. If they're real because. Nobody has this much money that is 1%. Of our GDP. With me now is Joe wise and thought he is Wii is all he is the editor of business in. -- dot com joke."

" You surprise this isn't everywhere I'm stunned and it's it's a really interesting story either mercenaries to suggest. Real or fake I just wish there were more talk about it I wish treasury would talk about it or some of them involving difference -- But I go out to them for some answers we just got to no comment from the Treasury Department they said -- we have received your question by US -- We've received a question about US bonds sees that the Italian border. These bonds are evidence in an ongoing investigation we will not be able to comment at this time sorry we can't be more help US treasury. A 134. Billion dollars of bonds. Can we put the chart up on one which countries have that much. -- the top foreign holders of US treasuries China 763. Billion Japan 685. United Kingdom 152. Billion Russia 137. The value of the smuggled bonds 134. Billion. That's gigantic. Sums of money either way it's incredible scale whether it's a government dumping some of their holdings orbit to counterfeit operation. It's unlike anything we've ever seen not just in size but also sophistication. The fact that it's this long before they can just dismiss them as being fake or save these real right so who would have the technology to fake that with the North Korea I would I would imagine any government that prints cut and that prince currency could probably. It's -- printer you know extremely high quality -- right so this would be a do you think it only possibly a government would be able to do this. It would be the kind of technology that you would expect only government to have okay. And if they are. Real. This is this is. What people every day the market wakes up to some news out of someone in Russia or China or Japan making some comment on the dollar -- that they're getting nervous about holding -- Some days they come out and say they're confident in the dollar but the market completely on edge on this question will foreign governments keep buying our debt. So that Israel and if there is a foreign government that's. Sort of secretly trying to dump some of their dollar holdings. That's a big story that really -- the store and -- direct apparently these bonds are old and they come from the fifties and sixties. Well listen one of their questions that make people question the veracity of these types of bonds can be bonds. Supposedly would be issued in the fifties or sixties. I'm the reason that they were I mean 500 million fate dollar face value bond it's almost hard to believe that we ever issued those. Apparently the reason was the other bearer bonds -- descendant of coupon. And collect the money -- your borrowing a lot of money you -- you want to had huge coupons because otherwise it's just too much pain to keep sending the man. The worst some reports that said the date on the bond was from 1934. That would -- and credence the idea that in some sort of counterfeit fraud operation."

" Okay thank you very much we'll follow this because. One way or another it's not good somebody is trying to. Prince massive amounts of our money and which would be. Well -- feds doing at our treasury is doing it why not everybody. And the other is people are starting to tire of are nonsense here."