This is a really interesting topic and one which I have thought about many times! So much so, that I went out and bought a Modern Player Jazz (complete with Fender badge) and I know it is in no way representative of the higher end USA Jazz Basses, but I thought it was important to me to own a 'Fender'! Now I tried everything with this bass, different pre amps, amps, leads, strings - and I decided it sounded absolutely awful.
During the time of me owning this bass, I traded my much loved Squier VM Jazz for a Tokai Thunderbird which was subsequently, also awful (in my opinion) - luckily enough, I mananged to re-acquire my VM Jazz in another trade - plugged it in and it sounded wonderful!
But I know what people mean when they agonise over the badge on their bass, but I've decided I don't care! To me if it sounds good, plays good and looks good - then it is good. I personally can't afford, in my current position of new Dad, first time buyer, to be spending money on USA Jazz Basses or top end Yamaha's! I'd like to think that one day I will own one of these, but if that never happens, I won't be sad, I'll just look at my trusty Squier and think about all the adventures we've had!
So don't worry about it - because I reckon, these gear police folk don't really know what they banging on about - because if they did, they'd know that although your bass doesn't say USA, they'd still know that the Squier VM/CV range, still represents some of the best value for money basses out there..... for me anyway.