How about them bonds?

Two weeks ago, $134 billion in U.S. bearer bonds was seized by the Swiss from two "Japanese" men. If that doesn't sound like all that much given how often we hear the word "trillion" thrown around these days, it actually is -- particularly in bearer bonds, which are technically exchangeable for cash on demand. Assuming, of course, you can find someone to cash a $1 billion bond (or 50 of them, which these guys had).

It's almost certain they are fake. Neither type is known (or confirmed officially) to exist, and only a government facility could cash even one of them. (This analysis at Cannonfire has good details and follow-up.) Still, it's an alarming crime (crime being that the bonds were undeclared, being hidden in false bottoms of luggage) given the sheer amount. What are these guys up to?

It now appears that the men are notorious Filipino con men, and there is apparently some connection to nutty cult leader, Her Majesty Salvacion Legaspi.

A cult leader. A ridiculously huge amount in bearer bonds. . A U.S. official looks at a photo of the bonds and says they're obviously fake -- if that's true, then what are these guys up to? And if they're not fake -- if the U.S. official is wrong, or lying -- what are $134 billion in bearer bonds doing with two unidentified Filipino men? Crazy. And worth following.