R.I.P. King of Pop

Zero Hedge (an awesome finance blog which manages to avoid the usual pretentiousness through heavy sarcasm and humor) has posted a note outlining the potential scenarios regarding the recent discovery of a briefcase containing $134 Billion (yes, with a “B”) in U.S. Treasury bearer bonds.

Bearer bonds are different from normal Treasury notes in that they entitle whoever is holding them to trade them, receive coupons, etc. Since 1982, the Treasury has only issued their securities in “book entry” form, meaning the Treasury maintains a list of holders electronically. This change was made because of the immense number of outstanding notes which made maintaining records of holders and paying coupons in a timely fashion very difficult.

Since the change, bearer bonds only make up about 1% of all outstanding Treasury debt. Thus, $134B is no small number – especially to be found all together, neatly, in one briefcase (hidden in the lining of the case).

Zero Hedge theorizes the potential cases here: either the bonds are amazing forgeries or the Treasury has been lying to the public about the true outstanding amount…

Zero Hedge: An Open Letter To The Secretary Of The Department Of The United States Treasury

It is luxurious, huge, packed with more neat tech than any other place outside of Apple or Microsoft headquarters, and all owned by one man. What a sick way to travel. It’s missing 24″ spinning rims, but if I know the Prince as well as I think I do, they’re on custom order from BBS.

The flying palace: Inside the world’s biggest private jet, worth a jumbo £300million | Mail Online

I’m sure fuel costs are not an issue for a man of his caliber.

Cyanide & Happiness @ Explosm.net