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Press Used To Print Millions of US Banknotes Seized In Quebec
An anonymous reader writes "The Canadian Royal Mounted Police report: An offset printing press used to manufacture counterfeit $20 banknotes was seized by the RCMP and US Secret Service. This significant seizure was made earlier today in the Trois-Rivières area. The authorities had been looking for this offset press for several years. A large quantity of paper was also seized by police, that could have been used by the counterfeiters to manufacture from $40-$200 million. The very high quality counterfeit notes were virtually undetectable to the naked eye. Some of the features they had were uncommon, including the type of paper used, which was especially made with a Jackson watermark and a dark vertical stripe imitating the security thread found in authentic notes."
They were printed in both English and French, to avoid breaking Canadian bilingualism laws.
Now if we could just stop our government from printing themselves money.
switch to australian made notes, i'd like to see them try and replicate those notes!
Fed doesn't even bother with the paper - just pushes some buttons, and *magically* $4 billion pops out into the system *every day.*
Except they call it Quantitative Easing instead of its actual name, counterfeiting. Cuz they're economists, you know.
If you suspect you have government printed currency, you should send it to me, flyneye.
I will inspect it for bugs, flaws and make sure it works.
Bulk, no problem, will pay shipping fees or postage for large amounts.
Be safe, be sure, send your money to flyneye.
*Repent!Quit Your Job!Slack Off!The World Ends Tomorrow and You May Die!
Not true!
Getting cocaine to rub over the bills to enhance their authenticity requires hanging out in some dodgy neighbourhoods. :P
That is what stops me from doing it.
That's right, if you get stuck with a fake 50, you lose unless you can successfully pawn it off on a small store that doesn't check carefully.
Couple of criminals bested by another lot of criminals.
When I first read this story I was amazed to read that someone was still using a printing press to print phony money. I thought only the North Koreans did that because their fakes are printed using the intaglio printing method, the same one used by the U.S. Bureau of Engraving and Printing to print American money. You're not going to get that from an offset press.
It's really quite a simple choice: Life, Death, or Los Angeles.
Because the game is all about who gets to have the money, not how good the money is. If counterfeiting were legal, peons could print their way to financial independence, and we can't be havin' with that. Any mechanism by which large numbers of the population can escape from debt will be carefully stamped out, no matter what it is. Counterfeit printing is only one of many victims of this policy.
Fancy heavy-weight offset printer, so yes. The press is what enables that difference, and this is one of those presses. Who gets to even buy these presses if quite tightly controlled. The fact that authorities spent years looking for it meant that its purchase was very carefully done and it was probably disassembled and moved after initial delivery. A difficult and expensive operation, but presumably the years it was in operation paid for it.
Bitcoin sucks. See stories of millions of stolen bitcoins posted here on Slashdot only weeks ago. Not that its a bad idea outright, just that bitcoin is far from a perfect implementation of a crypo currencey, and fan boys like you keep touting it like the end all be all solution. It is NOT imunne to exploitation and theft.
Are you seriously trying to blame the currency/protocol for exploitation and theft as though to imply that fiat currency is somehow immune to those things? People who have had bitcoin stolen have done so by leaving themselves vulnerable through things such as poor anti-virus, poor password practices, and general ignorance of scams. This is not a flaw in bitcoin (either the currency or the protocol), it's a lack of education for the end user. This is almost identical to putting a hundred dollar bill (fiat currency) on your front porch while you're at work and wondering what happened to it when you come home.
I concede that bitcoin has it's downside, but exploitation and theft is something any and every currency form will always be subject to, if your using that as your anti-bitcoin basis, then your point is rather moot.
And ultimately, that is all you really need to do. Fool the guy at the store counter, which isn't all that hard.
Once it gets back to the bank and is detected, you are long gone.
---- Booth was a patriot ----
Now if we could just stop our government from printing themselves money.
Why?
When interest rates are at 0%, and the politicians can't be bother inducing demand via stimulus spending/fiscal policy, the only way left to get the economy going is monetary policy. The Japanese have had 0% interest rates for decades, and have printed money a lot as well, and they've had deflation.
In science you pick the model which makes accurate predictions. The Austrians, gold bugs, and folks from the Chicago school of thought have been yammering on about inflation for years. The Keynesians (IS-LM folks) have been saying it won't/isn't because of the circumstances we're in. Who has been right? Which model has turned out correct over the last five years?
Of course that doesn't mean you can print money whenever you want, just in particular circumstances (which the US happens to be in):
Running deficits and printing lots of money are inflationary and bad in economies that are constrained by limited supply; they are good things when the problem is persistently inadequate demand. Similarly, unemployment benefits probably lead to lower employment in a supply-constrained economy; they increase employment in a demand-constrained economy; and so on.
http://krugman.blogs.nytimes.com/2014/02/01/macroeconomic-populism-returns/
They Keynesians have been correctly predicting things. Their model works. By this point, if you're scientifically minded you, should be dropping other models as their predictions were wrong.
I've never had money stolen out of a bank account. Of course, bitcoins will never be mainstream unless I can have a BTC-denominated savings account and credit card(at which point central banks control the BTC money supply, so why bother?).
Socialism: a lie told by totalitarians and believed by fools.
A very special type of press is needed for a convincing fake. Good paper money is printed with an 8-color press, which are really only used to print currency and Magic cards. Dunno if the seized press used the same process, or they were just clever in some way. In any case, the secret service probably keeps track of the few presses capable of printing convincing fakes.
Socialism: a lie told by totalitarians and believed by fools.
No it's not ordinary paper it's actually cotton cloth. Actually it's all quite interesting, visiting Crane paper in Dalton Mass is neat afternoon.
Repeal the 17th Amendment TODAY! Also Please Read http://www.gnu.org/philosophy/right-to-read.html
Embossing alters the surface of the paper, while intaglio deposits ink on the surface. They can be used to achieve similar effects, but they are NOT the same process. One results in a non-flat surface stock, inks later used being irrelevant to the process in general, and the other results in a flat stock with a layer of ink sitting atop the flat stock.
Intaglio does NOT engrave the NOTE. With intaglio, the PLATE is etched, and the ink deposited into the depressed/etched areas. The PAPER is then laid over it, and a roller is used to make contact between the paper and the upper surface of the ink. The paper pulls the ink away from the plate, leaving a raised layer of ink on the paper. You may perhaps be thinking of embossing or debossing, where the surface of the paper itself is altered.
How is this marked insightful when all the points made are the exact opposite of reality?
Because it fellates the power class with their woo-woo economics. He champions the ruin of local economies by calling a net transfer of wealth to Wall Street "putting the money to work" (as if local business loans by local banks was *a bad thing*) and makes the base assumption that wages keep up with inflation while ignoring massive unemployment, probably by using politically-manipulated data.
Because, everybody knows the big banks are the ones who are hurting in this crisis! Give me a break. Obvious shill is obvious.
My God, it's Full of Source!
OUTSIDE_IP=$(dig +short my.ip @outsideip.net)