Posted on 07/31/2006 8:07:03 AM PDT by TigerLikesRooster
Imagine Soviet Union printed massive amount of 100-dollar bills and Soviet citizens use them as their defacto currency, ignoring Rubles. N. Korea is trailblazing for sure.:)
Ping!
Ronery North Korean currency?
Another testimony to how well communism works...in a way, a perverse compliment to the USA... :-)
If I am not mistaken, counterfiting the currency of another country is an act of war.
"Real" US notes are backed "by the full faith and credit of the United States," or in other words, what they can tax out of us and our grandchildren.
The North Korean notes are backed by even less.
So, what's the real difference for North Koreans, anyway?
The only part NK cannot master, according to what I heard, is to produce the paper used for the said dollar bills. So instead, they use one dollar-bill and erase the content on the surface and print one-hundred dollar over it.
Technically, we are still at war with N. Korea. All we has was a ceasefire treaty.
Can't sugarcoat this, it's an act of war.
This is the currency of a true underground economy. NK currency comes from the government, so they know who has it, where it is spent and how much tax is paid. Once the bogus US bills enter the economy, there is no way to trace any of those.
Where do the bills come from and how is the supply controlled? US currency of the generation pictured isn't child's play to counterfeit, so it has to be the government or some sophisticated entity doing it, and what are they getting in exchange?
If it's the government doing it, then how is this not just official NK currency that just happens to look like US (except for the opportunity to take it outside NK and use it as US)?
For that matter,I'm surprised that drug runners,terrorists and the Mob don't go for it too.
In the old Soviet Union there would be a sign in every store reading "RUBLES ONLY!" But if you offered US greebacks you;d get a big discount! :)
How do they get that little plastic stripe?
http://www.freerepublic.com/focus/f-news/1672451/posts
But then the bill wouldn't have either the watermark or the inserted $100 thread in it. I supposed the watermark could be faked somehow, but inserting the thread after manufacture couldn't be done.
DPRK is notorious for producing bulk quantities of very high-quality counterfeits. it is a big export for them.
Iran is also suspected of producing high quality bogus US currency.
The real difference for the North Koreans is, that they have the full faith and credit of Madeleine Albright, and once a Dem'crat lands back in the White House, the counterfeit notes will be accepted and exchanged for genuine US currency at full face value.
This is not as far-fetched as some might think it would be at first blush. Think of the pressure it takes off the printing of our own notes in this country.
You KNOW the first thing that will happen when the Dem'crat agenda gets enacted is to monetize all the new debt that will be created. Get in early, before the rush!
Oh, yeah. And like FDR did in 1933, the ownership of gold will be outlawed. You use our green stamps, or nothing.
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