Christina Olympia: A Tale about Money
This is a true story about a couple friends back home that decided that they did not want to work for a boss anymore. To keep their identities unknown I will only use their first names in this report. John, Jen, Jay, Justin, and Katie are a group of friends that are very close to one another. They all worked together at this one restaurant called “Bella Festa,” but their boss was a horrible person. Besides the fact that he treated them like dirt all of the time, he was also an alcoholic and drug dealer. After months of torture and abuse, John, Jay, Jen, Justin, and Katie all decided to quit. Their only problem became that they had no more source of income, and they were pretty broke (they came from the lower-class part of town). In response to their problem, John, a wonderful, talented artist, decided that it would be a great idea to make their own money – counterfeit. The group persuaded a computer-brain, Dave, to help them out with creating the fake money, making only 10, 20, and 50-dollar bills.
For quite some time no one had any clue as to what these students, and our friends for that matter, were up to. In fact, the only purpose that they had been using the money for was to buy drugs of their own. They figured that if they ever got caught, the drug dealer wouldn’t even dare to call the cops for fear of his own arrest. Finally, after three or four months, the group started to get cocky. Jennifer, the least liked out of the group, would make jokes and somewhat brag about the crime that they were all committing. She even went as far as to use a 100-dollar bill at the local mall to buy a one-dollar soda. The dollar bill was found, and the cops began their investigation. About one week later, as I was walking my dog past Katie’s house, as she is my neighbor, I looked into a patch of trees to see a bunch of men from the swat team dressed in black. I continued walking and when I reached my house five minutes later, the swat team had already smashed through Katie’s house to find stacks of fake money under her bed, as well as the computer and the paper used to create it. Court dates and hearings had taken place over the course of about two years, but in the end all anyone received was about 100 hours community service. The cops even commented to John that he was a great and accurate artist. Our school let him design the yearbooks, and I believe that he was paid a good amount for it. From that point on, John went by the name Counterfeit Mattuzzi. Well, the reason that this is the story that I submitted is because these students didn’t realize the power of the crime that they committed. Not only were they stealing from local service companies (which may have lead to the increase in local prices), but they were also increasing the supply of money. Although I am sure that this increase in the supply of money was small in scale, had it been bigger the market economy of America and the world could have been affected.
Kristina Raevska: Phony $200 Bill with Bush Picture Used in Kentucky
February 1, 2001 10:58 am EST DANVILLE, Ky. (Reuters) - Talk about funny money. Police in Kentucky are looking for a customer who succeeded in paying for a $2 order at a fast-food restaurant with a phony $200 bill featuring a picture of President George W. Bush and a depiction of the White House with a lawn sign saying, "We like broccoli." Authorities say the female cashier at a Dairy Queen in Danville even gave the culprit $198 in real money as change. "Essentially, the story is that somebody at a drive-in ordered some food and passed a $200 novelty deal with George Bush on it," Danville Police Detective Bob Williamson said. "At a distance it looks like a real bill, it's got the green color," Williamson said when asked how the cashier possibly could mistake it for genuine money. The cartoonish bill was accepted on Sunday evening by the Dairy Queen cashier despite having Bush on one side and an oil well on the other. The phony bill also depicted the White House lawn with yard signs reading "U.S. deserves a tax cut," "No more scandals" and "We like broccoli," the last apparently referring to Bush's father's admitted dislike for the vegetable. No U.S. currency has a picture of Bush, let alone a reference to liking broccoli. Because there is no actual $200 currency, the culprit could face a charge of theft by deception but not counterfeiting, Williamson said.
Jookyung Lee: Fake currency in Korea
As science is being developed very fast, methods and skills to make fake money are being developed as well. We all know that the easiest fake currency we can face is American dollar, and it is because American currency is thought to be worth to own because it is world widely used. Compared to American currency, Korean Won has lower probability to be fake currency if you have some in your hand. It is said and found that North Korea is the major country that makes largest amount of South Korean currency. And some private actions of faking currency also has been caught by police in Korea. The number of fake currency incidents in Korea were estimated in June, 2001. From 1997 to June, 2001, incident of fake currency in Korea was estimated to be 453; 4568 Korean currency including 1000won, 5000won, and 10000won).
1997: 35 incidents; 1040 bills including 1000won, 5000won, 10000won
1998: 66 incidents; 356 bills including 1000won, 5000won, 10000won
1999: 68 incidents; 1377 bills including 1000won, 5000won, 1000won
2000: 160 incidents; 1142 bills including 1000won, 5000won, 10000won
2001(by June): 124 incidents; 644 bills including 1000won, 5000won, 10000won
September, 14, 2001, Ahn, one of the congressman in Hannara party of Korea, announced the report about fake currency and said that Korean government needed to put serious investment and specialized human resources against such illegal acts.
This is recent story of Korea about fake money. I wonder how many fake American bills are currently being used in America. In addition, I wonder what this illegal acts got to do with American economy.
국회 재경위 소속 한나라당 안택수 의원은 14일 조폐공사에 대한 국정감사에 서 공사가 제출한 자료를 근거로 이같이 밝히고 "위폐방지 관련 연구비의 과감 한 투자와 우수한 연구인력 확보를 통한 대책이 필요하다"고 말했다.
Daily Economy of Korea September, 14, 2001
Niclas Bahn: The Greatest Counterfeit Project
World War II was nearing its end. The Nazi regime still had a secret weapon up its sleeve. The plan was to produce mass amounts of counterfeit money of the allied currencies. This money was then to be used, to finance the war in Germany, and to undermine the currency system of the allies. In November 2000 a group of scientists and historians gathered at lake Toplitz in Austria, to find the remains of this massive project.
Adolf Burger is one of the few people that were part of the project that remain alive to this day. He was a prisoner in a concentration camp. However, he was not killed but recruited by the Nazis because of his printing skills. Burger and many others with his skills were forced to produce Bank of England pounds worth the equivalent of 4.5 billion dollars. First the printers focused on producing perfect counterfeit Pounds, but soon they moved to producing dollars also. At the end of the war they were supposedly capable of producing $1 million a day of counterfeit money. The secret weapon could not be used anymore by the Nazis. During the last days of the war, the counterfeit money was dropped into lake Toplitz. Fifty five years later a group of divers finally succeeded in getting some of the remains back to the surface of this big lake. The bills that were found in large boxes at the bottom of the lake contained thousands of counterfeit bills. Thank God the Nazis didn’t have time to go on with their plan. Clearly they could have caused total chaos, if they for example dropped counterfeit pounds over London. The entire british economy at that time would have been shaken.