Counterfeiting Question?

Smart? You give a fellow too much credit. More like smart a#$.

Only havin' fun....

 

Log in or Sign up to hide this ad.

I meant that! I was being 1950's friendly

 

Only illegal if you get caught.

 

Doesn't really matter what I think. I'm not the one making the rules and enforcing the law in the matter.

And "mandatory"? Are you serious? How on earth do you suppose they account for all of that which has been released into circulation over the history of the Fed, Treasury and National Bank issued notes? Are collectors to hand over all their notes since they are also pre-1996 legal tender? Executive order 6102 couldn't even manage to recollect all the bullion and you feel that the easy answer is in getting citizens to comply with a mandate to hand over notes, not keeping any for keepsakes or for numismatic collectibility? Even if it was punishable by law they wouldn't get them all.

The "easy answer" is what is already in place to cull the old notes out of circulation efficiently while steadily reintroducing into circulation new Series of notes.

Your second question isn't even a question, so no answer.

 

Iam dead serious, Just like they did with Mpc pull the old stuff off
The market making it useless and worth nothing! Then if you have
The previous series simply go to the bank and trade in the old
For the new!

Printing new bills with all the advancements in anti-counterfeiting
doesnt mean much, When they can simply use the previous series
Which is readily available in circulation and you can spend just like
The new stuff!

 

Some countries DO remove old currency in your 'dead serious' way, however your example with MPC notes isn't really that great of a comparison as the black market in a war zone or nation turned upside down by political strife, injustice, turmoil, ruin and financial collapse and yet fragile with inflation, criminal activity and instability isn't anything like the anti-counterfeiting measures and issues facing the Treasury/Fed in their never ceasing mission to update, replace and phase out older currency. The US hasn't needed to demonetize old currency like say European countries when switching to the Euro providing a time and manner in which to cash in the old for the new with a cut off date. The fact of the matter is, is that there isn't that much of the old pre-1996 notes out there, it's being culled each and every day by banks, the Fed and collectors. The 'few' notes a counterfeiter would be attempting to pass would be that much more scrutinized and to continue trying to produce the older issues of currency wouldn't be worth it, not worth the time to create it, risk passing it and even then, to only attempt to pass a few notes. I don't see the value in the risk to the counterfeiter to work on older issues. I think you are really driving the hypothetical point to a hysterical dimension of unreality.

As for your second paragraph, you should be aware that all prior Series have security measures in place. A new Series being issued doesn't mean the prior one is any easier to fake.

 

Iam using the comparison only in the respect to the procedure not the
Reason, Since were not talking about the black market here as was the
Case with Mpc was used but the counterfeiting of notes that were all Ready in circulation and yes they did have some security measures built
In but that doesnt mean it was enough!

I actually read a story about 5 years ago were they found several
Million dollars of counterfeited U.S. Notes in a cave in Juarez Mexico
It was discovered during a raid on illegal drugs, So when you say
Its hypothetical this is one example that it is very real, If you dont
Think so then your kidding yourself!

 

I think you're missing the point and I'm well aware of the unrelenting issues of forgery that the Treasury and Fed of the US face in regards to security and the issuance of new Series of notes. The entire lineage of paper currency is one long record of security innovation for just these reason. That suddenly a light went on in your thinking isn't grounds for the hysteria that I've tried to point out in regards to your alarm bell ringing. Your cause for alarm is clearly skewed due to your personal aesthetic distaste for the new $100 Series, as well as the other denominations of current Series. Instead you desire to see them all changed but have little faith in the security features in place let alone an understanding of past measures.

Your own penchant towards MPCs, if not purely nostalgic and for aesthetic appeal, ought to be one of a proclivity for matters related to security issues, which should imply that you are abreast of the situation historically and presently in regards to how the US issues each new Series and writes its policies in regards to how they deem necessary to handle new and previous Series of notes.

Unfortunately, you misdirect this topic suggesting I'm kidding myself when you're own misinformed paranoia has been stoked on by the possibilities you suggest in the OP, which are anything but original. If you had the ability to dream up the breech of security between new and prior issued notes which are still legal tender in this scenario then consider that those agencies who have dealt with these matters since their inception, those agencies of the Treasury and the Fed, both have previously considered and assessed these potentialities and determined the best course of action was to innovate security features with each new Series issued and to eliminate by culling earlier issue notes without the need, distraction, expense and confusion of demonetizing previous Series.

There's also no need to demonize foreigners by implication of media stories you read about. The threat is global and all nations face the same undermining effects so must be diligent in their security innovation. The sooner you realize the that technology has taken the front seat long ago, the sooner you may come to embrace the elegance of non-aesthetic technological beauty that has come to dominate modern currencies visual look.

Perhaps the problem is that due to public outcry and a general resistance to change, the US currency has incorrectly left too many semblances of classic security design features in place. A more radical shift, like the outlandish coloration and scale (sizes) of MPC for aesthetic reasons along with modern security measures may have been a more acceptable transition in the long run.

 

Notwithstanding every other debatable point made with respect to the question, I believe that a consequence of forcing folks to swap out existing stockpiles of hard currency would have a major destabilizing effect on the dollar. There are bank vaults all over the world stockpiled with hard U.S. currency for good reason.