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Posted: 9/18/2009 2:52:23 PM EST
Just got finished watching this move called "The Conterfeiters". A tru story where Nazi Germany set up a counterfeiting lab to produce the pound note and the American dollar. Their plan was to print off massive amount of the notes to crash the economy in both Britian and America. They used Jewish prisioners, who had skills in different methods of printing, engraving and conterfeiting. They were successful in producing the pound and dollar, but since the delays the Jewish prisioners purposley did, the Germans were unable to print enough of American dollars to effect the economy. They did however produce 134 Million in pound notes, which would have been enough to destablize Britians economy but was believe to be used in the realise of Benito Mussolini.

The question that I raise is this. What would keep a country from repeating this? As it sits with our economy now, it would be perfect time to flood our market with notes, more so than the Treasurey is doing now. Also the fact that many criminals are producing notes on a slightly smaler scale every day. What has happened to the Superbill that one of the contries in the Middle East was producing? It was the perfect conterfeit note.

Yes we keep upgrading the security features on todays notes, but we still take the older bills as currency.

What effect does the influx of conterfeit notes that criminals produce today on our economy?

How many notes would it take to destablize our economy?

Please discuss.
Link Posted: 9/18/2009 2:54:58 PM EST
87 million dollars
Link Posted: 9/18/2009 2:56:55 PM EST
I think the norks are the biggest source of counterfeit dollars.
Link Posted: 9/18/2009 3:02:45 PM EST




(Okay, not quite the same, but a great excuse to work in a pic from an awesome movie. )
Link Posted: 9/18/2009 3:20:27 PM EST

Originally Posted By Gibsonn:
Just got finished watching this move called "The Conterfeiters". A tru story where Nazi Germany set up a counterfeiting lab to produce the pound note and the American dollar. Their plan was to print off massive amount of the notes to crash the economy in both Britian and America. They used Jewish prisioners, who had skills in different methods of printing, engraving and conterfeiting. They were successful in producing the pound and dollar, but since the delays the Jewish prisioners purposley did, the Germans were unable to print enough of American dollars to effect the economy. They did however produce 134 Million in pound notes, which would have been enough to destablize Britians economy but was believe to be used in the realise of Benito Mussolini.

The question that I raise is this. What would keep a country from repeating this? As it sits with our economy now, it would be perfect time to flood our market with notes, more so than the Treasurey is doing now. Also the fact that many criminals are producing notes on a slightly smaler scale every day. What has happened to the Superbill that one of the contries in the Middle East was producing? It was the perfect conterfeit note.

Yes we keep upgrading the security features on todays notes, but we still take the older bills as currency.

What effect does the influx of conterfeit notes that criminals produce today on our economy?

How many notes would it take to destablize our economy?

Please discuss.

Paper money is a very small portion (less than 10%) of the effective US money supply...

And we are potentially undergoing deflation right now, so the inflationary impact of counterfeiting might actually HELP unintentionally...
Link Posted: 9/18/2009 3:28:39 PM EST
The real elephant in the room is the trillions of dollars that were vaporized in the housing market courtesy of Raines, Frank, Dodd, Gorelick, the congressional black caucus and the dem party that was the savings and source of incomes for millions of baby boomers. Much of this money was used as seed money and capital that fueled a size-able portion of our economy. It is the other shoe that will drop.
Link Posted: 9/18/2009 3:30:31 PM EST
Originally Posted By Gibsonn:
Just got finished watching this move called "The Conterfeiters". A tru story where Nazi Germany set up a counterfeiting lab to produce the pound note and the American dollar. Their plan was to print off massive amount of the notes to crash the economy in both Britian and America. They used Jewish prisioners, who had skills in different methods of printing, engraving and conterfeiting. They were successful in producing the pound and dollar, but since the delays the Jewish prisioners purposley did, the Germans were unable to print enough of American dollars to effect the economy. They did however produce 134 Million in pound notes, which would have been enough to destablize Britians economy but was believe to be used in the realise of Benito Mussolini.

The question that I raise is this. What would keep a country from repeating this? As it sits with our economy now, it would be perfect time to flood our market with notes, more so than the Treasurey is doing now. Also the fact that many criminals are producing notes on a slightly smaler scale every day. What has happened to the Superbill that one of the contries in the Middle East was producing? It was the perfect conterfeit note.

Yes we keep upgrading the security features on todays notes, but we still take the older bills as currency.

What effect does the influx of conterfeit notes that criminals produce today on our economy?

How many notes would it take to destablize our economy?

Please discuss.


Do you mean the Federal Reserve?
Link Posted: 9/18/2009 3:37:27 PM EST
[Last Edit: 9/18/2009 3:38:26 PM EST by leo6223]
Already been done........and actively combatted.


Without devulging too much info (I have no idea how much is considered "classified" or not) I can tell you that the SS has been onto a slew of $20's and $50's back in the early 2000's. I believe it had a North Korean connection. (it's right about the time you saw the bills undergo a change...in fact I think the 20 underwent 2 or 3 changes)



By the way....during my time in Iraq I learned that is how Iran basically crashed Iraq's economy....there was a shitload of counterfeit dinars pushed in from Iran.
Link Posted: 9/18/2009 3:39:15 PM EST
If you get the chance try & catch a movie, called 5 Fingers With James Mason & Danielle Darrueux. It's based on a true story of WWII espionage in Turkey. Not going to say more than that & spoil it, but it would compliment what you just watched. Good flick.
Link Posted: 9/18/2009 5:19:45 PM EST
Originally Posted By leo6223:
Already been done........and actively combatted.


Without devulging too much info (I have no idea how much is considered "classified" or not) I can tell you that the SS has been onto a slew of $20's and $50's back in the early 2000's. I believe it had a North Korean connection. (it's right about the time you saw the bills undergo a change...in fact I think the 20 underwent 2 or 3 changes)



By the way....during my time in Iraq I learned that is how Iran basically crashed Iraq's economy....there was a shitload of counterfeit dinars pushed in from Iran.


If at possible (no need to divulge classifed material) how did our government combat this? It would seem that a note such as the superbill, if it were released in such large quantities, would be hard to stop.

Not one large dump in a particular location but several large dumps in multiple locations spread over s short time.
(Think multipe Ryan's Steakhouse scenarios taking place in several different locations. Exchange poo for notes and Ryan's Steakhouses for Economic Markets)
Link Posted: 9/18/2009 7:13:04 PM EST
While deliberate counterfeiting of US currency by enemy countries like N Korea can be a problem it would be extremely
difficult for them to have an effect on our economy nearly as significant as the self inflicted wound we are currently suffering
from.

The actual money supply.....the cold hard cash in question makes up only a fraction of the dollars that comprise the American
economy. Add in the fact that the largest bill commonly circulated is the $100 and you make things even tougher.

The sheer size of our economy makes it hard for a foreign enemy to introduce enough cash fast enough to cause significant damage
to the US and they certainly can't do damage that way anywhere near the scale of the damage being inflicted on the economy
by current Fed Reserve and Treasury actions.

Link Posted: 9/19/2009 1:09:38 PM EST
It's a bad idea because:

1. it's an act of war.

2. it can be done in return.
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