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This has less to do with domestic policy than it does to do with huge overseas counterfeiting operations. North Korea and other bad actors are expert counterfeiters, and generate lots of legitimate hard currency by selling pallets of bogus US$50s and US$100s. Cut that to US$20s and you put a major (possibly debilitating) dent in their profit margin.
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Speedy wrote:
[quote=rjmacs]
This has less to do with domestic policy than it does to do with huge overseas counterfeiting operations. North Korea and other bad actors are expert counterfeiters, and generate lots of legitimate hard currency by selling pallets of bogus US$50s and US$100s. Cut that to US$20s and you put a major (possibly debilitating) dent in their profit margin.
I think you mean "illegitimate hard currency"?
Illegitimately obtained, but genuine. I print up US$1M in counterfeit cash, sell it to you for 6.5M genuine yuan, I still end up with legitimate hard currency.
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The marker pens are easily fooled, and pretty much considered next to worthless by law enforcement. But they make the stores that use them feel a bit more confident.
Exactly.
The Secret Service has said they don't tell anyone not to use them, but they do say they are highly unreliable.
They think I'm crazy.
LOL!
No more crazy than them thinking the pen is going to do them any good.
Drop the penny? YES!
$100 and $50 bill? Just plain dumb!
Not being one who's got much use for $100s and $50s, I won't comment as they are not relevant to my lifestyle.
But I agree that keeping the penny when withdrawing those bill *is* dumb.
I tend to agree with dropping the nickel, but I wonder how much that would cost the consumer, over a year.
The cost to the taxpayer would be reduced, except the savings would immediately be spent somewhere else.
So no change there.