An informed comment on the 135 billions $ in US treasuries seized by italian police

You already know about this story from a week if you follow this blog. It was posted here.

Now this article makes some good points arguing that all these billions $ in US treasuries were most likely authentic.

This can only mean that the Central Bank of Japan is desperately trying to get rid of a good part of his US$ reserves a.s.a.p., whatever the cost and the means.

If I were you I would do the same, but since I am not, I am safely positioned in cold, heavy, physical allocated gold from a couple of years already.

P.S. The funny part is that if these bonds are real, the italian gov't should seize 50% of them, according its law about money trafficking. I wonder how the japanese would react! Hahaha!

P.P.S. In the meanwhile, Fed Buying Treasuries; China Selling Treasuries. Don't you hear some bell ringing?

Update - June 18 2009 : not surprisingly, both italian and US authorities are declaring that the bonds are fake (to silent the issue). So why the two japanese were immediately released free? (If the bonds were fake, the two carrying them should have been arrested and indicted for counterfeiting).

Further update 06/18/2009: After two weeks a US Treasury official says securities were fakes. Italy’s financial police is silent. The case is still baffling and full of discrepancies.

Update 06/23/2009: Securities seized in Chiasso still between a wall of silence and a flow of disinformation

Neither Italian nor US authorities have officially said whether the seized US Treasury bills worth US$ 134.5 billion are real or fake. A US Treasury spokesperson said they were fakes, but acknowledged that he only saw them in a photo on the internet. For Italy’s financial police, if they are forgeries, they are practically indistinguishable from the real stuff. Both the US Federal Reserve and the Bank of Japan have an interest in denying their authenticity.