If anything, US$100 bills are probably scrutinised far more thoroughly throughout Asia than in the USA because of their comparative value. I live in Indonesia and the biggest local notes are worth roughly AUD$5 and 10. Every one of them usually gets checked by the cashiers. Money chargers are even more careful. So yeah, they're probably pretty good forgeries.
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Apparently they're good enough for NKorea & Iran to use to get stuff they couldn't get otherwise.
(Note: these notes are printed by the authorities in those countries, at the official mints where those countries currencies are produced)
Remember, in the end, they're just scraps of paper. What really gives them value is that they can be used (exchanged) for something of value.
For a few years, at work, there was a guy who was really into the idea that "fiat money" should be discarded & the Gold Standard should be reinstated 'cuz, "paper money doesn't really have an value". There were three of us at a table in the lunchroom & I was just about to say something like, "If I can buy something with it then that's enough value for me", when the 3rd guy popped up with, "then you should be happy 'cuz you can use it to buy gold!". Left the 1st guy speechless!
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On Tue, 7/12/16, David Shaw <xxxxxx@gmail.com> wrote:
Subject: Re: [TML] Currency
To: xxxxxx@simplelists.com
Date: Tuesday, July 12, 2016, 1:52 PM
OK, but how
many of them are good enough to fool a US citizen? They
might fool me because, as a UK citizen who has never visited
the USA, I have never seen a real $100 bill except in quick
flashes on the TV but would they be accepted in a US
store?
David Shaw
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NorthKorea & Iran & (?) have been counterfeiting
$100US for, literally, decades. In fact, years ago, my
father showed me a newspaper article that stated that it was
well known that anywhere from 1/3 - 1/2 of the US 100 dollar
bills in circulation in parts of asia were counterfeit.
Life goes on....
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On Tue, 7/12/16, Abu Dhabi <xxxxxx@gmail.com>
wrote:
Subject: Re: [TML] Currency
To: xxxxxx@simplelists.com
Date: Tuesday, July 12, 2016, 11:26 AM
>Well, largely the way we’re not
faced with instant, massive counterfeiting, fraud and
hyperinflation today. The bills are made with
anti-counterfeiting measures in place. microscopic
encrypted
keys readable by a bill checker, akin to modern
counterfeit
detectors, etc.
OK. I
can buy a anti-counterfeiting technology handwave, even
if
it's a little hard to believe in a setting
incredibly
more diverse than the European Union is (where a
monetary
union combined with federalism and diversity of
economies
have led to substantial financial difficulties, albeit
different than I presented).
It is a little hard to believe
partly because of the inevitable, hard-to-track-down
criminals who would presumably have the capacity to
kidnap
an engineer or three and start taking verifiers apart,
in
order to reverse-engineer what an undetectable forgery
is
supposed to look like. Replacing compromised
countermeasures
sounds like a nightmare, because presumably all legit
Crimps everywhere need to verify as legit - unless you
have
multiple valid standards... in which case security is
poorer, but you could limit damage; but it would still
be
horrifically painful to reimplement verification
measures.
I'm not sure issuing a new currency would go a
smoothly
as our RL currency changes do, simply because of the
vast
amounts of time needed to get information
across.
>Heck, during WWII the Germans
printed, essentially, real 5, 10, 20 and 50 pound
notes,
and it didn’t work <https://en.wikipedia.org/wiki/Operation_Bernhard>.
Reading that page makes me think
it didn't work because it didn't have
sufficient
time to work - and not enough cooperation between right
hand
and left hand - before it was shut
down.
On 12 July 2016 at 18:30,
Bruce Johnson <xxxxxx@pharmacy.arizona.edu>
wrote:
On Jul 12, 2016, at 7:27 AM, Abu Dhabi <xxxxxx@gmail.com>
wrote:
How
does the Imperial Credit function? AFAIK, it is a
paper
(well - plastic) currency backed my the Imperial
economy.
How does this not lead to instant, massive
counterfeiting,
fraud and hyperinflation? The notes are supposedly
proof
against forgery, but I struggle
to imagine how they could be.
Well, largely the way we’re not faced with instant,
massive counterfeiting, fraud and hyperinflation today.
The
bills are made with anti-counterfeiting measures in
place.
microscopic encrypted keys readable by a bill checker,
akin
to modern counterfeit
detectors, etc.
I’m sure it occurs, as it does here in the Real
World, but it’s not a sufficiently large issue to
cause
problems. Heck, during WWII the Germans printed,
essentially, real 5, 10, 20 and 50 pound notes, and
it
didn’t work <https://en.wikipedia.org/wiki/Operation_Bernhard>.
Mechanisms exist today to manage anonymous but
verifiable and uncounterfeitable currency: Bitcoin. It
has
it’s problems (primarily rooted in it’s inherent
goldbuggery, but that leads to deflation, not
inflation.)
but the avenues for anonymous secure, and
verifiable electronic transactions are there, and have
been
for quite some time: http://firstmonday.org/ojs/index.php/fm/article/view/474/830. http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm
We had a long long
<strike>flamewar</strike> cordial, but
spirited
discussion of electronic cash transfers on the list
sometime
in the last couple of years.
--
Bruce Johnson
University of Arizona
College of Pharmacy
Information Technology Group
Institutions do not have opinions, merely customs
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