I wonder if these bonds automatically become property of Italy? If so, it seems like Italy just scored some treasuries without having to pony up any money. They'll probably just liquidate them, and continue to send yields up, up and away.....
Good points. US Government bonds are not bearer bonds. The only bearer bonds are euro issues aimed at tax evaders. It seems odd that they would conduct such a diligent search that they would discover a false bottom suitcase. Either they were tipped off or something else was fishy.
I don't think the story is aimed at the ignorant. Not to be tinfoil here, but isn't it odd that the story is barely reported? I ran a google news search - and came up with very little. If there was an intended audience (the ignorant), there would have been a means to relay the story. Who knows...
You're right. Bad choice of words on my part. I should have simply said that it was aimed at people who thought this could be a believable story. Anyone with any knowledge of the area they were caught in or what they were supposedly carrying would immediately know it was false or was being perpetrated by complete idiots carrying fake bonds.