2 Japanese carrying $134 bil worth of U.S. bonds detained in Italy

[David Healy]

A few thoughts:

i) Turner Radio Network is the mouthpiece of white supremacist Hal Turner. Imo it's a disinformation front, and has previously been discussed here:

http://www.deeppoliticsforum.com/forums/....php?t=911

ii) Karl Denninger is a smart guy. However, I go to his site for interesting insights and viewpoints (from all sides of the spectrum) on economics and financial markets - as many of the posters are either very knowledgable traders or disgruntled, highly placed, insiders. I don't have any interest in the geopolitical viewpoints expressed there. And most Ticker Forumites would regard DPF as, to use their preferred phrase, tinfoil;

iii) David G's perspective is, of course, very well informed. Let's assume for a moment that "these (instruments) are bona fide but secret securities/obligations". Let's also assume that these instruments were "owned" by certain Japanese financial elements - some combination perhaps of Bank of Japan, Japanese govt, and mob.

Why would they have been taking these instruments to Switzerland?

And if the assumption that the intention was to be caught by Italian border guards is correct, what was the purpose of this?

Jan, you've taken the words out of my mouth. Why Switzerland indeed. Well, one reason may be because it has always been suggested/rumoured that UBS is the "arms length" global manager of these type of sub-rosa securities as they also seem to be for much of the Black Eagle gold.

And if this is the case, then it might be that the Italian's were tipped off ultimately by the US (via deniable third parties) to foil the plans of the holders.

Of course, this is simply putting forward possibilities upon possibilities as we shall never know the full truth of it.

Why Switzerland? The original Foreign Bondholders Protection Council was created and worked out of Switzerland (and New York) during, and immediately after the great Pre-WW2 Gold Dollar Bond debacle circa. 1924-1932... addressing particularly (The Dawes Bonds - The (Owen) Young Plan, which replaced it -- German issues), being the two primary issues.... along with hundreds of millions of dollars worth (100+ other bond issues originating through and by Wall Street merchant banks) of "worthless" gold bonds sold to the unsuspecting American public, ALL of which defaulted. This was the very situation that forced the US Congress to create the Security and Exchange Commission in 1933.

FDR then placed Joe Kennedy at the helm of the newly created SEC.

the below:

http://www.allacademic.com//meta/p_mla_a...1202-1.php

is an interesting paper covering defaulted (private and government) issues and notes... -- up to 2005.