Posted on 04/22/2010 5:42:42 PM PDT by TigerLikesRooster
Fake Dollars Flood N.Korea-China Border Area
Counterfeit US$100 notes printed in North Korea are widely circulated in the North Korea-China border area, Radio Free Asia reported Thursday. The U.S. Treasury Department earlier announced a plan to print newly designed $100 notes with more anti-counterfeit solutions.
The so-called "supernotes" have been spotted in large quantity in border towns such as Sinuiju in North Pyongan Province. Amid rumors in mid-January that the U.S. will print new $100 bills, a department charged with operations against the South in the North Korean Workers' Party and the Army's Reconnaissance Bureau apparently released their stockpiles of the fakes to get rid of inventory, RFA quoted North Korean sources as saying.
A source told RFA that Kim Yong-chol, the director of the Reconnaissance Bureau, ordered the release of the fakes. The source said it appears that the bureau enjoys the trust of North Korean Kim Jong-il's son and heir apparent Jong-un and may have been aiming to raise a "loyalty fund."
Kim Yong-chol has also recently been fingered as the mastermind behind a recent assassination plot against Hwang Jang-yop, a former secretary of the Workers' Party Central Committee who defected to the South in 1997, as well as behind the sinking of the South Korean Navy corvette Cheonan on March 26.
The North Korean regime has spread misinformation that the fake dollars are distributed by Chinese tourists, RFA added.
P!
Hey Tiger is that fake money they were doing for years and year in NK by selling the west that money that worthless LOL!
Thanks for the ping Seven of Nine.
great post.
Not a smart move by the Norks. China used to be behind a lot of counterfeiting of US money. Now they hold so much of it that devaluation via counterfeiting hurts THEM.
Norks cruising for a bruising from just about EVERYONE but Iran and Venezuela. Aint gonna help against the South and/or China...
Who cares? The real ones are soon to be worthless anyway.
Right. Competition between real toilet paper and fake toilet paper.
OH NO problem I think we seeing desperation out of NK Regime wait till Chia Pet dies you see the old school Soviet Union day of classical music being played
Bingo! lol.
What is the problem?? The North Korea notes are probably worth as much as the U.S. Bills, Our paper money is not backed with anything. Perhaps we should give North Korea a contract to print our money, and we could shut down the Government Printing Presses.
And the fake toilet paper is never going to make it’s way to america. They aren’t hurting anyone but themselves.
So the fake US dollars will end up in Shanghai buying fake goods. It’s all wonderful! LOL.
On second thought, it might actually be helping their economy. Since we americans are all clinging to our money here in america, they have no one to buy their junk. The norks might be saving the chicom economy by printing up fake dollars and buying up the chicom junk that we won’t buy anymore.
Actually it would help the US Treasury now if all the outstanding $100 bills were unacceptable except by turning them in to the treasury for inspection and a possible credit. It would eliminate a lot of black market dollars out there. So the NK may be working in concert with UST.
Bump.
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