Go Back   English Forum Switzerland > Living in Switzerland > Swiss politics/news  
Reply
 
Thread Tools Display Modes
  #1  
Old 18.06.2009, 15:14
Junior Member
 
Join Date: Sep 2006
Location: Basel / Zurich
Posts: 44
Groaned at 0 Times in 0 Posts
Thanked 3 Times in 3 Posts
Thomps has made some interesting contributions
Suitcase With $134 Billion confiscated at CH border??

Suitcase With $134 Billion Puts Dollar on Edge: William Pesek

Commentary by William Pesek

June 17 (Bloomberg) -- It’s a plot better suited for a John Le Carre novel.

Two Japanese men are detained in Italy after allegedly attempting to take $134 billion worth of U.S. bonds over the border into Switzerland. Details are maddeningly sketchy, so naturally the global rumor mill is kicking into high gear.

Are these would-be smugglers agents of Kim Jong Il stashing North Korea’s cash in a Swiss vault? Bagmen for Nigerian Internet scammers? Was the money meant for terrorists looking to buy nuclear warheads? Is Japan dumping its dollars secretly? Are the bonds real or counterfeit?

(...)

http://www.bloomberg.com/apps/news?...id=a62_boqkurbI

There's more on the internet. Get yer google on...

Last edited by Nathu; 18.06.2009 at 16:33. Reason: Excerpt shortened: http://www.englishforum.ch/announcements/1348-policy-copying-content-copy-paste-quoting-linking-etc.html
Reply With Quote
  #2  
Old 18.06.2009, 15:20
vwild1
 
Posts: n/a
Re: Suitcase With $134 Billion confiscated at CH border??

Here's something from FOX News:



this must be a hoax as I've looked everywhere and failed to find anything about this on any of the major news networks.

Last edited by vwild1; 18.06.2009 at 15:32.
Reply With Quote
  #3  
Old 18.06.2009, 15:54
dino's Avatar
Forum Veteran
 
Join Date: Feb 2006
Location: Zurich
Posts: 1,663
Groaned at 31 Times in 24 Posts
Thanked 1,279 Times in 628 Posts
dino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond repute
Re: Suitcase With $134 Billion confiscated at CH border??

Quote:
View Post
Suitcase With $134 Billion Puts Dollar on Edge: William Pesek
the story is indeed on Bloomberg but sounds like utter horseshit to me. None of the financial logic in the story makes any sense...

a) no one with that kind of money (including the psychotic Kim-il-Jong) will risk moving it with 'two Japanese businessmen'

b) The US cannot control such movements anyway, so any talk of US 'losing control' is bunk

c) billion dollar Kennedy binds being surreptitiously issued? Pullleeeze... you're talking billion dollars. with a B. this is not a thousand pounds of expenses by some British MP that fell thru the cracks....

Horseshit, methinks ...
Reply With Quote
  #4  
Old 18.06.2009, 15:58
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,086
Groaned at 486 Times in 405 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: Suitcase With $134 Billion confiscated at CH border??

do you think they where on there way to UBS?
Reply With Quote
This user would like to thank bigblue2 for this useful post:
  #5  
Old 18.06.2009, 16:01
dino's Avatar
Forum Veteran
 
Join Date: Feb 2006
Location: Zurich
Posts: 1,663
Groaned at 31 Times in 24 Posts
Thanked 1,279 Times in 628 Posts
dino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond repute
Re: Suitcase With $134 Billion confiscated at CH border??

yeah, Glenn Beck on News-for-Morons (also called Fox News) has been wondering why nobody else is covering this story ...

that's evidence enough for me....
Reply With Quote
  #6  
Old 18.06.2009, 16:03
dino's Avatar
Forum Veteran
 
Join Date: Feb 2006
Location: Zurich
Posts: 1,663
Groaned at 31 Times in 24 Posts
Thanked 1,279 Times in 628 Posts
dino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond repute
Re: Suitcase With $134 Billion confiscated at CH border??

Quote:
View Post
do you think they where on there way to UBS?
i have just pulled my 20k from UBS and put it in the post office... you seriously think anyone would trust UBS with that kind of money ????

in fact, can you think of one reason ANYONE in the world would trust ANY bank with that kind of money ????
Reply With Quote
  #7  
Old 18.06.2009, 16:05
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,086
Groaned at 486 Times in 405 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: Suitcase With $134 Billion confiscated at CH border??

Quote:
View Post
i have just pulled my 20k from UBS and put it in the post office... you seriously think anyone would trust UBS with that kind of money ????

in fact, can you think of one reason ANYONE in the world would trust ANY bank with that kind of money ????

but 2 jap business men are fine

So will UBS announce tomorrow another $134b of write downs?
(was what I was getting at )
Reply With Quote
  #8  
Old 18.06.2009, 16:26
Tom1234's Avatar
Forum Legend
 
Join Date: Jan 2007
Location: Kanton Luzern
Posts: 14,853
Groaned at 467 Times in 373 Posts
Thanked 20,954 Times in 8,645 Posts
Tom1234 has a reputation beyond reputeTom1234 has a reputation beyond reputeTom1234 has a reputation beyond reputeTom1234 has a reputation beyond reputeTom1234 has a reputation beyond reputeTom1234 has a reputation beyond repute
Re: Suitcase With $134 Billion confiscated at CH border??

Shouldn't this thread be in Off-topic along with other jokes and fictional accounts?
Reply With Quote
  #9  
Old 18.06.2009, 16:30
nksyoon's Avatar
Senior Member
 
Join Date: Aug 2006
Location: formerly Zürich
Posts: 446
Groaned at 1 Time in 1 Post
Thanked 246 Times in 139 Posts
nksyoon has an excellent reputationnksyoon has an excellent reputationnksyoon has an excellent reputationnksyoon has an excellent reputation
Re: Suitcase With $134 Billion confiscated at CH border??

Reported in the Tages Anzeiger:
http://www.tagesanzeiger.ch/wirtscha...story/24050657
http://www.tagesanzeiger.ch/panorama...story/15001779

No conclusion there either.
Reply With Quote
  #10  
Old 18.06.2009, 16:35
Claireb82's Avatar
Junior Member
 
Join Date: May 2008
Location: Horgen
Posts: 96
Groaned at 0 Times in 0 Posts
Thanked 17 Times in 15 Posts
Claireb82 has no particular reputation at present
Re: Suitcase With $134 Billion confiscated at CH border??

its getting more reports now

http://www.spiegel.de/international/...630158,00.html
Reply With Quote
  #11  
Old 18.06.2009, 16:37
Blonaybear's Avatar
Forum Veteran
 
Join Date: May 2007
Location: Blonay
Posts: 1,597
Groaned at 4 Times in 4 Posts
Thanked 836 Times in 432 Posts
Blonaybear has a reputation beyond reputeBlonaybear has a reputation beyond reputeBlonaybear has a reputation beyond reputeBlonaybear has a reputation beyond repute
Re: Suitcase With $134 Billion confiscated at CH border??

....and this one (Dow Jones)
Reply With Quote
  #12  
Old 18.06.2009, 16:37
marton's Avatar
Forum Legend
 
Join Date: May 2008
Location: Kt. Zürich
Posts: 9,314
Groaned at 389 Times in 337 Posts
Thanked 16,264 Times in 8,821 Posts
marton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond repute
Re: Suitcase With $134 Billion confiscated at CH border??

Quote:
View Post
but 2 jap business men are fine

So will UBS announce tomorrow another $134b of write downs?
(was what I was getting at )
It is a very unlikely story but it was covered by several Swiss newspapers like
http://www.20min.ch/news/kreuz_und_q...ieren-11974735
http://www.tagesanzeiger.ch/panorama...story/15001779

If we assume these stories are true then the questions are?
1. if they are real bonds then who has that much money to carry around?
2. If they are not real bonds then who has so much money as to be financially capable to become a victim of such a huge fraud? If they came in my local bar offering billion dollar bonds at a discount then in my case the discount would have to be more than 99.9999%.

Marton
Reply With Quote
  #13  
Old 18.06.2009, 16:39
Nathu's Avatar
Forum Legend
 
Join Date: Apr 2007
Location: Zürich
Posts: 4,674
Groaned at 18 Times in 16 Posts
Thanked 2,208 Times in 1,248 Posts
Nathu has a reputation beyond reputeNathu has a reputation beyond reputeNathu has a reputation beyond reputeNathu has a reputation beyond reputeNathu has a reputation beyond reputeNathu has a reputation beyond repute
Re: Suitcase With $134 Billion confiscated at CH border??

The Italian police indeed released these news. Apparently some of the bonds look more genuine than others, but nothing is confirmed yet. A rather odd story!
Reply With Quote
  #14  
Old 18.06.2009, 16:44
dino's Avatar
Forum Veteran
 
Join Date: Feb 2006
Location: Zurich
Posts: 1,663
Groaned at 31 Times in 24 Posts
Thanked 1,279 Times in 628 Posts
dino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond repute
Re: Suitcase With $134 Billion confiscated at CH border??

Quote:
View Post
The Italian police indeed released these news. Apparently some of the bonds look more genuine than others, but nothing is confirmed yet. A rather odd story!
the Italians do know about Monopoly, don't they ..??
Reply With Quote
  #15  
Old 18.06.2009, 16:59
bubbles4352's Avatar
Forum Veteran
 
Join Date: Jan 2007
Location: Zurich
Posts: 572
Groaned at 0 Times in 0 Posts
Thanked 174 Times in 108 Posts
bubbles4352 is considered knowledgeablebubbles4352 is considered knowledgeablebubbles4352 is considered knowledgeable
Re: Suitcase With $134 Billion confiscated at CH border??

They must have been dobbed in, unless they were acting suspiciously... Also, I'd be surprised if the average customs person could recognise a bond.
Reply With Quote
  #16  
Old 18.06.2009, 17:13
Isambard Mews
 
Posts: n/a
Re: Suitcase With $134 Billion confiscated at CH border??

i was following this with interest.

one possibility is that the bonds belong to the .jp govt and they are selling them on the sly to whittle down their depreciating US dollar holdings. if this is the case, expect denials all round and the bonds to be declared fake (as if sombody would fake a 500m bond hoping to cash it in without thorough checks).

the other intriguing thing is that the amount of bonds is huge - more than you'd expect to still be outstanding for redemption. now this prompts the question as to whether the FED secretly raised funds from the .jp govt in the past 'off the record'...
Reply With Quote
  #17  
Old 18.06.2009, 17:48
Guest
 
Posts: n/a
Re: Suitcase With $134 Billion confiscated at CH border??

Quote:
View Post
...
2. If they are not real bonds then who has so much money as to be
financially capable to become a victim of such a huge fraud? If they came
in my local bar offering billion dollar bonds at a discount then in my case
the discount would have to be more than 99.9999%.
...
...perhaps something more like a Madoff operation which required visual
proof that the proceeds of a Ponzi scheme were invested in something
"real" (i.e. they were to be props in a scam). Lots of rich people with
lots of real money fell for that Madoff one, after all!

...perhaps intended to use as fraudulent collateral for brokerage loans.

...perhaps they're genuine! Ha-ha, only joking!
.
Reply With Quote
  #18  
Old 18.06.2009, 17:54
Newbie 1st class
 
Join Date: Jun 2009
Location: Basel
Posts: 11
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 1 Post
angelo has made some interesting contributions
Re: Suitcase With $134 Billion confiscated at CH border??

Quote:
View Post
the Italians do know about Monopoly, don't they ..??
Then they must have found a pair of dice too . Case solved.

The scenario described by Isambard Mews is quite interesting and can be true. If true I presume we will not hear about this story anymore.

But it can also be an hoax because it's not that easy to discover the bonds. Unless someone informed the authorities...
Reply With Quote
  #19  
Old 18.06.2009, 20:10
marton's Avatar
Forum Legend
 
Join Date: May 2008
Location: Kt. Zürich
Posts: 9,314
Groaned at 389 Times in 337 Posts
Thanked 16,264 Times in 8,821 Posts
marton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond repute
Re: Suitcase With $134 Billion confiscated at CH border??

Quote:
View Post
They must have been dobbed in, unless they were acting suspiciously... Also, I'd be surprised if the average customs person could recognise a bond.
I think (if the newspapers are correct) they were hidden in suitcases with false bottoms which is what aroused the Customs. Probably if they were just lying around in the suitcases they would have been ignored.

Nevertheless it does give rise to some interesting speculation.
Could also be the Chinese or Russian Govts. using Japanese couriers?

Anyway they must be excellent fakes if they are being examined.

Marton
Reply With Quote
  #20  
Old 18.06.2009, 22:29
dino's Avatar
Forum Veteran
 
Join Date: Feb 2006
Location: Zurich
Posts: 1,663
Groaned at 31 Times in 24 Posts
Thanked 1,279 Times in 628 Posts
dino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond repute
Re: Suitcase With $134 Billion confiscated at CH border??

I like a juicy conspiracy as much as the next guy, but some of the explanations being bandied about defy belief ..

"one possibility is that the bonds belong to the .jp govt and they are selling them on the sly"

"as to whether the FED secretly raised funds from the .jp govt in the past 'off the record'..."

Seriously, does anyone think that Greenspan rolled a couple billion worth of bonds under his arm, met the Jap Finance Minister in the parking lot of a Seven Eleven and returned with a suitcase stuffed with cash? And then over drinks in the Hilton, he passed the suitcase to Sandy Weil and Jamie Dimon..???

These two, without telling a soul, quietly placed the bags of cash in their vaults (on a sunday, of course); their cashiers then merrily dispensed this cash to the bank's customers. The silly accountants and auditors never noticed the extra money .... ??????

Really guys .... can we come up with a reasonable one at least ?
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Where can I buy a suitcase in Zurich? kimb Other/general 5 24.07.2008 08:00
Do I need to buy a ticket for a large suitcase? kodokan Transportation/driving 3 10.04.2008 18:36


All times are GMT +2. The time now is 18:31.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0