(1) N. Korea is flooding NK-China border region of China with supernotes.
(2) They are doing it to get rid of their supernote inventory before the newly designed 100 dollar bills make them useless.
(3) Due to oversupply of fake dollar bills in the area, dollar value has plummeted locally: anywhere from a fifth to a half of previous value.
(4) Serial numbers of the supernotes from N. Korea tend to start with letter 'P' or 'F.'
P!
Will the new 100 keep its value any longer?
The Fed must really hate the North Koreans impersonating them
That doesn't seem right. The old $100 bills will still be good, so I'd think the supernotes would remain just as good.
I hope that they have a new $1000 note on the drawing board. We are going to need it soon with Obamaflation on the near horizon.
When you view the video at the following link...
http://www.newmoney.gov/newmoney/Splashpage.aspx
...you find that it quotes a portion of the Declaration of Independence:
“When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.”
Hmmmmmmmm....
I have seen one of those Super Notes......pretty sophisticated actually.
Fear mongering, in a way. The actual percentage of American “dollars” that are coins or currency is like 3%.
The rest is tbills or bonds or Charmin or Wills and Trusts or Notes or Deferred Payments or 401(k)’S or WHATEVER THE HELL THE SHYSTERS CAN CON YOU IN TO!!!
If CONgress was even SLIGHTLY interested in balancing the budget I might be interested in worrying about whether my dollar was genuine.
Wasn't that the purpose for the last redesign?
Let’s see...
They unveiled the new 100$ Benjamins thus tipping their hand to the counterfeiters, but they won’t release any till Feb 2011.
Even after that they say they will honor the old ones.
If they continue to honor the old ones, then the anti-counterfeiting benefit is nil.
Plus they gave a more than adequate head start to the counterfeiters.
Plus the cost of printing the new ones goes up substantially.
But it gets better:
The Norks are nevertheless dumping their inventory of supernotes. US Dollars have dropped in value in nearby China to as low as 20% of the previous value.
This is in China where the falling dollar is already a huge worry.
With the dumping, of supernotes, it causes inflation that Obama can’t even spend!
The Norks get the immediate benefit and Obama only gets inflation, and in China where it really matters!
Hahahahahahha! Sorry but I just can’t help but laugh! The Dollar is a joke that just keeps going and going...