According to the U.S. Government, North Korea is producing almost perfect counterfeit $100 bills and smuggling them into the USA. Tens of millions of bogus dollars have entered the American economy this way, in what may be considered an act of economic sabotage.
In other money-related news, the financial crisis is inducing record numbers of unemployed or under-employed Americans to raid their 401(k)s prematurely under the “hardship withdrawals” provisions of the law.
To see the headlines and the articles, open the full news post.
Thanks to Amil Imani, Barry Rubin, Fjordman, JD, and all the other tipsters who sent these in.
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I have heard for years that the $100 bill was the most popular for counterfeiters. The U.S. Government has redesigned it with modern security features and the new bills will be introduced in February 2011. See this article.
But the redesigned $5, $10, $20, and $50 bills have been in circulation for years. Why have they waited so long to change the $100, if it is so commonly counterfeited?
I can’t think of a reason for it without veering into tinfoil-hat territory.