Counterfeit money: What really is it?
The allure of counterfeit money is obvious. If you can do it without getting into trouble, you will be able to print your own money and buy whatever you want with it. Counterfeiting is the ultimate technology for people who want to get something for nothing. Counterfeit money, is illegal but can save lives and take one out of some real complex situations.
In the not-too-distant past, making of counterfeit money is seen to be a difficult and expensive endeavor. It requires large printing presses and the ability to cut intricate designs by hand into metal plates.
Today, it’s much easier to create counterfeit bills. As thousands of teenagers discover every year, if you’re willing to break the law, you can create fake money with a PC. You can equally use a scanner and a color inkjet printer in about 10 minutes.
Counterfeit money is imitation currency produce without the legal sanction of the state or government. This is usually in a deliberate attempt to imitate that currency and so as to deceive its recipient.
Counterfeiting is one of the oldest crimes in history. It is a serious problem during the 19th century when banks issue their own currency. At the time of the Civil War, it an estimate, we find out that one-third of all currency in circulation is counterfeit money.
The dangers of counterfeiting
The dangers of counterfeiting and the usage of counterfeit money do not come close to the widespread negative consequences of legal money creation. Since the debt-based system is the only legal money system we know of, few people recognize it as an economic culprit. But it is not a neutral engine.
Since its advent in the 1600s, the modern debt-based banking system creates social stress. It also creates widespread injustice, environmental degradation, violence, and war. Not to mention chronic economic collapses in every empire we know of. It is at the heart of the civilized rat race.
With bank-issued debt money, a percentage of people have the fate to lose. Bankruptcy and depression builds into the system — not as a weapon of spite and bad will but because it is an inevitable side effect of the formula that garners them billions of profit every year.
Fake money: What are the options?
History provides a testimony to more intelligent forms of currency creation that have delivered far greater benefits to entire empires as well as communities. Demurrage, barter, tally sticks, bitcoin, community dollars and other programs with bases not on debt but on actual value of goods and services.
They act as incentives for sustainable production both in labor and in primary resources. They are use as a trade and production tool with no negative side effects.
But bankers are not about to step aside to allow these currency programs any leeway. In spite of debt’s destructive impact on the vast majority of people, it supplies mind-boggling wealth to the banking cartel. Attempts to revive demurrage in Austria and the US see situations with quick crackdowns, and any apparent successes in alternative currencies are monitored carefully by government agencies.
Since these currencies do not clone the legal currency, they are not yet considered illegal, but are still a threat to the monopoly for the exact same reason that counterfeiting is.
There is need.
One could argue that, if counterfeiting and counterfeit money were legal, basement printing operations will quickly become empires, and cash will be flying all over the place.
We can say the same for the banking system. In exchange for government sanctions and bank charters, the banks self-regulate and collude, and indeed, there is money flying all over the place. Counterfeiters will do the same thing, and it will be no more destructive than bank loans.
Contrary to the economists’ familiar refrain, counterfeit money is dangerous not because it causes inflation but for the same reason crystal meth is dangerous: it’s a felony. Using counterfeit cash is risky only because it can be confiscated from the owner at will as contraband.
If the banks do not consider it competition, and if it is legal to produce and use, economists would find it extremely difficult to demonstrate how counterfeiting causes any more economic or social disadvantages than the government-sanctioned banking system does.
By addressing the myths, I hope it is clear why counterfeiting is a federal felony. It threatens the monopoly of the central bank and commercial banks who are authorized by the state to print money. If counterfeiting is legal, banks will have a hard time selling you a mortgage. As such, counterfeiters’ capture is often accompanied with a great deal of fanfare.
There is one more reason counterfeiting is a federal felony punishable by prison time. Counterfeit money, like drug money, is not taxable.
How To Detect Counterfeit Money
To begin with, Look at the money you receive. Compare a suspect counterfeit money note with a genuine note of the same denomination and series. Pay attention to the quality of printing and paper characteristics. Look for differences, not similarities.
In addition to that, Portrait The genuine portrait appears lifelike and stands out distinctly from the background. The counterfeit money portrait is usually lifeless and flat. Details merge into the background, which is often too dark or mottled.
More so, Federal Reserve and Treasury Seals. On a genuine bill the saw-tooth points of the Federal Reserve and Treasury seals are clear, distinct, and sharp. The counterfeit seals may have uneven, blunt, or broken saw-tooth points.
Furthermore, Border The fine lines in the border of a genuine bill are clear and unbroken. On the counterfeit, the lines in the outer margin and scrollwork may be blurred and indistinct.
Serial Numbers Genuine serial numbers have a distinctive style and are evenly spaced. The serial numbers are printed in the same ink color as the Treasury Seal. On a counterfeit, the serial numbers may differ in color or shade of ink from the Treasury seal. The numbers may not be uniformly spaced or aligned.
Moreover, Paper Genuine currency paper has tiny red and blue fibers embedded throughout. Often counterfeiters try to simulate these fibers by printing tiny red and blue lines on their paper. Close inspection reveals, however, that on the counterfeit note the lines are printed on the surface, not embedded in the paper. It is illegal to reproduce the distinctive paper used in the manufacturing of United States currency.
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