News

when you don’t have it, print your own!

04.14.2009

Task Force Arrests 5, Seizes Printing Presses Used To Print Fake U.S. Currency

WASHINGTON, D.C., April 14, 2009

(CBS) The U.S. Secret Service announced the arrest of five people and the seizure of $8.4 million in counterfeit U.S. currency, as part of a bilateral effort to combat a rise in the spread of fake $100 bills.

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who can afford to do this in today’s world?

04.14.2009

Man arrested for throwing money around - iol.co.za April 13 2009 at 02:32PM Taipei – Taiwanese police have arrested a man for throwing banknotes from a taxi on the highway. Chen Ping-teng, 43, was arrested after he tossed 1&nbsol000 Taiwanese dollar (US$30) notes from the window of a taxi on a highway in central Taiwan. The taxi [...]

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Responding to a Crisis

04.13.2009

Fueled by my last post on this topic, I have been scouring the net for sources of ideas to fix the problem. Of course everyone is watching the US, so why not start with the current Chairman of the Federal Reserve System… First, a little visual preamble… Ben S Bernanke: The Federal Reserve’s balance [...]

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how nationalized should US banking be?

04.12.2009

For years I have been the brunt of many a joke while in the company of US bankers and others in the industry. You see as rumor would have it Canada only has a handful of financial institutions as proportionately compared with it’s neighbor, because the Canadian government controls all Canadian banks!

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controlling counterfeit – india

04.12.2009

Bhuvanesh Pandya, a small sweetshop owner in Mumbai’s distant suburb of Mira Road, has just invested in a currency detection machine after his business was hit by a barrage of fake notes. With his local bank impounding the fake currency notes each time, Pandya decided to buy a currency detector, normally used by banks and treasuries. As the economy gets flooded with fakes, these machines are the only saving grace for small businesses like petrol pumps and local corner shops across the country as India reels under the onslaught of fake Indian currency notes.

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printing for hyperinflation

04.11.2009

HARARE – Reserve Bank governor, Gideon Gono has admitted the central bank money printing machines have become overwhelmed by the persistent demand for new bank notes.
Gono said Fidelity Printers, government’s minting company, can only churn out two million notes per day and was thus unable to print lower denomination notes, which are in short supply in Zimbabwe.

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