The United States has not issued bearer securities since 1982, completing a process started in 1966. $7.5 million in Treasury securities were "mislaid" by one of the Federal Reserve banks in 1962, which started the move to book entry.
According to the Treasury, less than 1% of "Marketable Treasury securities" exist in bearer form. $134 billion is an interesting number suddenly- unless there is some nuance to "Marketable" here.
Assuming for a moment that the bonds are legitimate, the timing is interesting in the face of deteriorating confidence in U.S. Debt. What would two Japanese (appearing) men be doing with such a large sum? Several days later the Japanese consulate is still unable to confirm they are even Japanese nationals. That's odd.
If a theft, it would certainly be the largest on record ever. And in such amounts, it seems clear that only government connivance would make such an "operation" possible. Quietly unloading Treasuries in Switzerland? Or establishing a cash pile abroad for a bit of extraterritorial QE? Buying Treasuries with credit established with a bunch of long off the books Treasuries? That's pretty recursive. I like it.
Conspiracies are fun to indulge. That said, they are probably fake. We hope so. Sphere: Related Content
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