What is Europe talking about? Bonds. U. S. Federal Reserve Bonds. U. S. bearer bonds**. One hundred thirty-four billion dollars worth being smuggled through Italy to Switzerland by two middle-aged Japanese men. The amount is so great, very few countries have holdings that size or larger. The story is being circulated that the bonds are either smuggled for secret liquidation so as not to depress the price prior to sale; or counterfeit. Counterfeit? "Let me borrow a bond for a few days so I can copy it in fine detail"? Not bloody likely.
So whose are they? Who is missing 134 billion dollars?
Who is secretly cashing out their American holdings?
Do you suppose they are a little p.o.ed?
And do Japanese still commit hari-kari when they make a big screw-up?
Will someone please wake up the American news services.
*The results of the election are almost immaterial. The President is but a spokesman for the Mullahs who really run the country and even choose the candidates for the election.
**Yes, they are bearer bonds. Despite what some pundits are saying, ownership may be transferred without re-registration and presented by any agent. Hence, bearer bonds.