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Thread: US Could Pressure North korea Tomorrow By Quitting 100 Dollar Bill

  1. #1

    US Could Pressure North korea Tomorrow By Quitting 100 Dollar Bill

    Noth Korea is counterfiting our $100 bills see the article link below.

    http://finance.yahoo.com/news/u-coul...094000585.html



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  3. #2
    Quote Originally Posted by rockerrockstar View Post
    Noth Korea is counterfiting our $100 bills see the article link below.

    http://finance.yahoo.com/news/u-coul...094000585.html
    Really? I thought it was the Fed.

  4. #3
    Come on people, have we never heard about outsourcing before? Markets keep expecting Bernanke to continue "quantitative easing" so that they could go & stock up on gold & silver & other commodities in the wake of impending inflation & he doesn't want markets to go haywire due to his speeches so he's clearly outsourced "quantitative easing" to North Korea so where does the question of "quitting 100 dollar bill" arise?

    Yet taking the long view, maybe a rash of new superdollars from the hermetic regime of Kim Jong-un would be beneficial. How so? Because counterfeits have a way of reminding people of what material money is and how it functions, and that could lead to a discussion of its pros and cons. Cash is, and always has been, such an uncontested part of everyday life that we rarely stop to consider its toll on society as the currency of crime, to say nothing of the heaping expense of printing, transporting, securing, inspecting, shredding, redesigning, reprinting, re-inspecting, and redistributing it ad nauseum, plus the broader costs of prosecuting and incarcerating the thousands, if not millions, of people who commit cash-related crimes. That's not to suggest we could get rid of paper money tomorrow; we still don't have a substitute that's equally convenient, universally accepted, and adequately secure. But that day may be closer than you think. (Coins, however, we could -- and should -- do away with. As in, right now.)(MORE: Google Takes Another Experimental Step Toward Delivering TV)

    Superdollars, and the untold billions of (electronic) dollars spent combating them could be the wake-up call that finally forces us to think more clearly about the costs of physical money.
    Oh, so now they're openly peddling a pure electronic currency & what's depressing is that most people in the comments section are more concerned about Swiss ink than to the dangers of a purely electronic currency that the author is trying to peddle
    There is enormous inertia — a tyranny of the status quo — in private and especially governmental arrangements. Only a crisis — actual or perceived — produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becomes politically inevitable
    - Milton Friedman



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