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NKor using own counterfeit US $100 bills as "$70" bills in domestic trade
Strategy Page article--no permalink. Edited for brevity.Counterfeit American hundred dollar bills have become, in practice, legal tender in North Korea. Everyone knows they're fake, but they are such good fakes that merchants call them "$70 bills," and often use them at full face value. North Korea has, for nearly two decades, financed it's defense establishment via illegal activities. These included producing and exporting illegal drugs and counterfeit U.S. currency. Of particular concern to the United States, the fake hundred dollar bills were of such high quality that, in some respects, they were superior to the real thing. North Korea has access to the special materials and printing equipment for producing currency. Much of this stuff is only sold to governments. However, since North Korea is a government, they get the quality materials and gear needed to make what American Treasury officials call "supernotes." These counterfeits can be detected, but with difficulty. As a result, thousands, if not millions, of them are in circulation, largely outside of the United States. Posted by: Dar 2006-08-04 |
| http://www.rantburg.com/poparticle.php?ID=161942 |