Friday, May 25, 2018



Our efforts to raise an alarm on the threats posed by the latest version of the North Korean-manufactured USD$100 bill seem to have fallen upon dear ears, at least where it comes to two of the US government agencies charged with enforcing American laws against counterfeiting. Neither showed any interest in opening an investigation into the Series 2006 $100 note, when contacted. Mainstrean US media is likewise silent.

One agency was presented with an exemplar of the counterfeit notes and, after examination, stated that it believed that they were made in China, not North Korea, and discounted the threat altogether. The other agency advised that it was also not interested in information, and that it had rebuffed three prior civilian inquiries about the newest iteration of the so-called Supernote.

What really concerns me is that there are, if the photographs are to be believed, pallets of these counterfeits sitting in cold storage, both in South Korea as well as in China, and nobody appears to care about the fact that the dominent Korean organized crime syndicate, which controls the warehouses where they are stored, could flood Asia with them, seriously affecting the confidence that individuals who choose to place their wealth in cash and in dollars, presently have in our currency.

Given that the organized crime group has ties to North Korea, it is not a stretch to consider that if the DPRK is sufficiently angy at the US Government's latest bellicose statements, it might order that the counterfeits be released into circulation, in a mass event that could cause the valiue of our currency to temporarily plummet abroad. Traders who had advance knowledge of this act could earn huge sums for North Korea, by betting on the fall of the dollar.

Could such an action even permanently damage the value of the US Dollar ? I hope that we don't have to find out the hard way.

Series 1914 US $100 note

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.