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Strange Inconsistencies in the $134.5 Billion Bearer Bond Mystery

Jun. 16, 2009 8:20 AM ET106 Comments
J. S. Kim profile picture
J. S. Kim

Here’s yet another huge financial story that has been virtually blacked out by the US financial media. Although on the surface, this story appears to be a non-event, if we consider some of the released facts about this case, you will understand why I consider it to be a huge story. On June 8th, the Asia News reported the following story:

“Italy’s financial police (Guardia italiana di Finanza) has seized US bonds worth US 134.5 billion from two Japanese nationals at Chiasso (40 km from Milan) on the border between Italy and Switzerland. They include 249 US Federal Reserve bonds worth US$ 500 million each, plus ten Kennedy bonds and other US government securities worth a billion dollars each. Italian authorities have not yet determined whether they are real or fake, but if they are real the attempt to take them into Switzerland would be the largest financial smuggling operation in history; if they are fake, the matter would be even more mind-boggling because the quality of the counterfeit work is such that the fake bonds are undistinguishable from the real ones.”

Here are just a few fascinating facts about this case (at least they are being reported as “facts” at this current time):

(1) Though the smugglers have been identified in the press as “Japanese nationals” there has yet to be any confirmation if the smugglers were indeed Japanese or of some other ethnicity. How difficult is it to confirm the ethnicity of the smugglers and why is this information being kept secret?

(2) According to a brief Bloomberg article regarding this story, the seized bearer bonds allegedly were dated as of 1934. Since bearer bonds in denominations of $500 million did not exist in 1934, the bonds were deduced as fake, though the Italian police are still waiting for a declaration regarding the bonds’ authenticity

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J. S. Kim profile picture
I AM NO LONGER and HAVE NOT BEEN contributing articles to SeekingAlpha since 2012. In 2021, I am preparing the launch of a new venture called skwealthacademy, a 20-course online academy that seeks to disrupt the traditional MBA business education model and that focuses completely on applied knowledge that can improve all clients' quality of life, a current massive deficiency of all business schools today. Bookmark and sign up for my free newsletter at https://www.maalamalama.com/wordpress and visit me on my skwealthacademy patreon channel for up-to-date information. After earning an undergraduate degree from the University of Pennsylvania and two master degrees (a Master in Public Policy and a Master in Business Administration) from the University of Texas at Austin, J.Kim started working within the Private Wealth Management division of one of the largest financial institutions in America. In 2005, dissatisfied with the ethics of the commercial investment industry and to be able to serve his clients in a manner consistent with his own commitment to integrity and honor, Mr. Kim left the corporate world behind to launch his own company, a fiercely independent investment research, consulting and education firm in 2006. in 2021,skwealthacademy will be Mr. Kim's second venture as a serial entrepreneur.

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Comments (106)

There appear to be several groups attempting to swindle the U.S. out of money they were never owed. Check this out:

The 1934 Bonds are a fraud and a hoax. This blog post someone when to great effort on all fronts to tell the real story.

We have some Italian old Bonds from 1930's and 40's, we have been told they are worth $500 M. Does anybody have any experience with
these Bonds.
See our article on Applied DNA ($APDN) - Diversification through client acquisition which documents the company's work in stopping counterfeiting of goods such as bearer bonds at:

29 Aug. 2010
Better still google thr following on google
"Japanese Police Shah Alam"
29 Aug. 2010
Dear JS Kim
here is another link:

29 Aug. 2010
Dear JS Kim,

I would like to share with you my personal experience with regards to the following story as i was unknowingly drawn into this shady world .Please enlighten me .....probably a good collaberation for a book......the bond is authentic to a few experts who verified it
Please refer to the headline below:


I am a medical dr and contactable at dr_mr_mrj@yahoo.com

What if the bonds are authentic & the Japanese agents were "lobbyists" that had connections to those people in Washing DC that allocated/appropriated the TARP funds, better know as politicians.

If I hazard a guess I would say that the bonds are absolutely authentic and that they were in the possession of business associates are 1 or more members of 1 or both houses of congress, to be redeemed in a foreign country to keep such a large money transfer on the down and low and then split the money in the Bahamas or wherever when the Politicians decide to not run for office in 2010 & 2012 election cycles. This is the ultimate white collar crime.

Sounds like a great movie. Sometimes truth is stranger than fiction.
Was this story ever resolved?
FYI: The story was not blacked out in the US. I watched it on the local and national news.
Thank you for posting this important story. I have been rummaging through my attic looking for these bonds of mine and I am very relieved to obtain this information about their whereabouts. Thanks again.

On Jun 16 09:36 AM Snoball wrote:

> Re: "There should be little debate that the world’s emerging economies
> in Russia, Brazil, China and certain Gulf Nations are at economic
> war today with the world’s Western nations and their economic allies.
> The currency war being fought today is sure to get much uglier in
> the foreseeable future, in both open tactics as well as secretly
> executed tactics. Currently, if the currency war were the world series
> of poker, the US and the UK would be holding a pair of 2s and relying
> on nothing but bluffs to keep the rest of the world at bay. Conversely,
> the Chinese and other emerging nations with large surpluses would
> be holding straight or royal flushes, and likely quietly maneuvering
> to go “all in” at some point."
> Yea but they're playing (and betting) with American dollars. Going
> "all in" might be a hollow victory.
25 Sep. 2009
or country y is trying to cash real bonds and the us says they are fakes - eliminating debt at one fell swoop and intimidating country y into NOT trying to cash any more bonds . . . of course the events of the 18th of August indicate that more smuggling continues ...

On Jun 19 02:36 AM Dada wrote:

> Let’s presume country X holds US bonds worth something like $134
> billion. Country Y has a technology of counterfeiting bonds the way
> it is impossible to separate them from original (even imperfect counterfeits
> could work for this scenario). Country Y, knows about countries
> X bonds. Y makes $134 billion and exposes it as smuggling effort.
> US deny them as counterfeit. The effect is that country X now has
> no guaranties that their bonds will be recognized as real or somebody
> will claim that amount from US. So this could force the country X
> try to cash out it and effectively will hit US economy or in case
> if US denies it – will force US and Y into conflict.
sorry for being naive but i am really new to this. recently a family member of mine found a federal reserve box 1934 worth 1 billion and the total value is 250 billion.not sure what those 2 value means but what borthers me is that he met a guy who claims to be working for the FED and has checked his box to be genuine from the looks of the box. he now has to wait for the FED to send a team to open the box to check it's authencity. is the " FED guy" telling the truth or was he just foiling around with my relative? The Fed guy said if it was real, my relative can claim 1% of the face value. is this possible??

can anyone explain to me how this bond things work and how to claim it? or what is the function. like someone mention above, this box was found near philipines and it was belief that it fell off a crashed plane during WW2 .

please help because i'm not sure if it's a fraud and it's just dangerous to be in possesion of such item. i'm worried he might get jailed for it.

On Jun 17 03:16 AM nobby73 wrote:

> Good spot. I think the probability weighs on these being forgeries,
> despite how illogical faking something as large as a $500 million
> bond.
> If it was some sort of covert attempt by a government to transfer
> funds overseas, why would they choose this method, rather than simply
> move via diplomatic baggage?
> Another group that could be involved would be the Japanese mafia
> (Yakuza), and while they have alway been known to be rich and powerful,
> this is huge.
19 Feb. 2020
Yeas, I just found your post from over 10 years ago here. Whatever happened with your "findings" and why didn't you consult with an attorney who could advise you on dealing with the Feds?
28 Jun. 2009
The Voice of the White House

Washington, D.C., June 21, 2009: “ It has just been firmly announced by the U.S. Treasury that the $134.5 billion dollars in government T-bills that the press reported were being smuggled by purported Japanese across the Italian/Swiss borders are laughable fakes. Don’t believe it. They are not fake at all. This is a case of “Just keep on going folks. Nothing to look at here.”. Most people don't realize that these negotiable instruments are not available to individuals and could signal some serious implications for the world economy and especially for the future of the U.S. dollar—just what we need. All so-called bearer bonds are serial numbered and it is known here that these bonds are not fake and were bought much earlier by the People’s Republic of China! What is all this about? The Chinese are livid with rage that Obama upped the interest rate on Treasury bills, thus effectively halving the value of the immense Chinese holdings of said bills. They tried every diplomatic trick in the book to stop this increase but Obama needs more money for his projects and his best option was to give better rates on T-bills. Now, the Chinese are trying to show him that they will fuck with the Treasury and so the two fake Japanese were deliberately sent off to Switzerland, via Italy with the Italian police warned they were coming. The Chinese wanted this to be discovered and wanted the US to know that China would do her level best to discredit American Treasury instruments if their demands were not met. These demands will not be met so China will try something else. North Korea is also getting shirty with us but they are walking on a soda cracker bridge just as it starts to rain.”

27 Jun. 2009
About the $134.5 billion bonds found in Italy and the secret financial system - Benjamin Fulford
There is a lot of confusion these days among people who still believe the Zionist web of lies formerly known as the “mainstream consensus.” The story about the $134.5 billion in bonds found in Italy is adding to that confusion. Perhaps a bit of background information will help clarify the situation somewhat.

First of all people need to realize that there are two sets of books used in global finance: the “official” data put out by government agencies etc. and the secret financial arrangements used between sovereign entities (countries as well as organizations). When members of the British and Japanese royal families first contacted me and started talking about thousands of trillions of dollars, I thought they were bonkers. Officially world GDP is $55 trillion so their numbers seemed impossible. However, after meeting multiple sources ranging from freemasons, to yakuza, to MI6 to Japanese security police, to CIA etc. I can now confirm there is a secret financial system whose total worth is “quintillions of dollars.” I think the numbers got this big as a result of some sort of ridiculous contest to see who had the largest penis among the folk who control the printing presses for dollars and euros etc.

In any case, the bonds found in Italy are connected to a massive operation that took place in the Far East before and during WW2. Part of that involved the Japanese invasion of Manchuria. When the Japanese invaded Manchuria in 1931 the owners of the Federal Reserve Board contacted the Chinese emperor and said “the Japanese are about to steal the treasure you have in Manchuria. How about we take that treasure to the Philippines for safe keeping? In exchange we will give you 70-year US government bonds that you can use to buy stuff from around the world.”

The emperor agreed to the deal and the Americans started issuing huge numbers of bonds backed by the emperor’s gold. To keep these shenanigans out of the US public eye, they printed the bonds in the Philippines. Some of these bonds are the ones the two Japanese were carrying in Italy.

This whole thing also ties into 911 big time. When the emperor made his deal with the Feds he asked them what would happen when the bonds came due and the Feds refused to pay back the principal. He was told US criminal authorities would take action.

The owners of the Fed thought they would never have to pay back the money because they thought the last emperor died as a gardener in communist China. What they did not realize was that the man in China was a double and that the real emperor escaped to Taiwan. His grandson, the current emperor, is now the dean of a University (I know his name and what university but to protect him I cannot tell).

The grandson had many other treasures in addition to the one taken to the Philippines and so he sued the Feds using top lawyers. A giant investigation was set up in the US involving the Treasury police, the Naval Office of Investigations, the FBI and Cantor Fitzgerald Securities. When first bonds came due for redemption on September 12, 2001, they were set to move against the Feds.

Well by lucky coincidence on September 11, 2001 “Al CIADA” bombed the Naval Office of Investigations, etc. out of existence and the investigation was temporarily blocked as the US was turned into a fascist dictatorship (if you do not understand this find a copy of the Nazi laws and compare them to the patriot act).

There is now a secret war going on between the royal families who have real treasure (the British, the Chinese, the Thai etc.) and the aristocratic families who own dollar and Euro printing presses. At stake is the future of this planet. The owners of the real treasure want to start a new financial system backed by metals and start a campaign to permanently end war, poverty and environmental destruction. The owners of the money printing presses want to continue their cycle of perpetual war and terror in order to keep control over humanity.

The Japanese arrested in Italy were part of that secret war and they were released immediately and sent on their way with their bonds. There is so much contradictory information from the Italian Treasury Police, MI6 and Japanese military intelligence sources that I cannot say whose side these guys were on. I am just glad the astronomical numbers released to the corporate media created congnitive dissonance among the still brain washed.


JPPennypacker profile picture
Hopefully there will be some new information regarding the bonds. I have yet to read any reasonable explanations but am curious to see how this all works out. Here is a link with the most recent information on the story.
26 Jun. 2009
Whether bonds fake or real the Italian police have still not officialy said. Still Too many conflicting reports in media about the identity of smugglers, when detained, how long, when released, did detainees request attorney and does attorney have a name??? This site slyryder.com/bondgate.... seems to be focusing on the timeline surrounding the detainees and what the Italian police knew about the passports and when they knew. Good site, good resources with good photo and videos and commentary on the police investigations thus far. Maybe they bungled everything! Really, for all we know, the Italian police might have actually released the detainees to someone pretending to be an attorney.
Oirada profile picture
Who talked about the Philippines scam was right

Too easy to blame the Mafia for everything! Easy escape goat when police and journalist have no clue!
22 Jun. 2009
Are these blog links below reliable? Anyone know?

There is news there that the bonds were real and the 2 men worked for the Japanese Finance Ministry.


22 Jun. 2009
If they are fakes, the Italian government should release the 2 .jp right away. They did not commit anything against the law. Did they try to use the bonds?
But wait, maybe is that the Italian government realize that they are real and they don't want to loose 40% of those money.
So the bonds are real.
By the way, the 2 .jp are part of the Japanese Government.
This looks to me like a new Pearl Harbor.
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