A Geek With Guns

Chronicling the depravities of the State.

North Korea in Competition with the Federal Reserve

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It looks like North Korea is getting into competition with the Federal Reserve:

U.S. negotiators are heading into a second day of what have been dubbed “serious and substantial” talks with North Korean officials. Yet amidst all the discussion of how the U.S. will attempt to work with Kim Jon-un, there has been little (open) speculation as to whether Dear Leader Junior might crank up production of $100 and $50 bills. No, not North Korean 100- or 50-won banknotes, worth about as much as old tissues. I’m talking about fake greenbacks — or, as the U.S. Secret Service has dubbed them, “superdollars.”

No matter how good North Korea gets at counterfeiting United States dollars they’ll never be as good as the Federal Reserve. While North Korea runs off physical $50 and $100 bills the Federal Reserve need only reduce the amount of reserve banks need to lend out nonexistent money. I must say I’ll give more credit to North Korea in this case than the Federal Reserve, at least North Korea has the common decency to actually print up physical notes.

Written by Christopher Burg

February 28th, 2012 at 12:00 pm