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Topic: Supernotes from North Korea  (Read 3480 times)
sudzee
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« on: September 10, 2006, 10:34:19 pm »

Here is an interesting article:

[size=16]Supernotes from North Korea[/size]

Representatives of the U.S. government have stated publicly what some have suspected privately, that the North Korean government is involved in creation and distribution of U.S. $100 bills known as " supernotes".

Stephen Mihm, a history teacher at he the university of Georgia, wrote in the July 23 New York Times that the Treasury Department last year labelled Macao-based Banco Delta Asia as a " primary money- laundering concern," stating publicly that the bank facilitates illegal activities putting counterfeit U.S. currency into circulation.

Mihm said some analysts told him that the freezing of North Korean bank accounts contributed to the nation's decision to fire ballistic missles this past July 4th, disreguarding warnings from the United States and several other nations.

Previous speculations in print reguarding " supernotes" had mentioned Iran and Columbia as possible sources.

Mihm said the Secrete Service has seized $50 million in " supernotes".

The threat of "supernotes" is currently of relatively little concern for the U.S. economy, where counterfeits form a very small fraction of the money supply. Fakes are of greater concern in countries with smaller money supplies.

This articles appears in the Bank Note Reporter - Sept/06 edition.

Gary

 

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