Counterfeiting: Were In The Money Essay -- essays research papers

Counterfeiting Were In The MoneyA frequently asked question by a client is "Can you break a hundreddollar government none?" If this prayer has been granted, why do the cashiers take the schnoz and turn it into a biota experiment? Between pouring a liquid on the postand/or holding it up to the light to check for authenticity, is our currency corpse in danger? As of the beginning of 1996, the Chairman of the Federal harbor and the Secretary of the United States Treasury, prove their economicwizardry by make the new one hundred dollar bill approximately unattainable to cook in attempt to protect our economy. This is just the first measure inimproving our currency system.Counterfeiting U.S. currency is an illegal practice that has has been more or less for years and, unfortunately,is getting worse. "Last year, ...the SecretService cooperated with the Italian authorities seizure of $43.8 million incounterfeit U.S. currency, Germanys capture of more than $19 million in counterfeit cash, and the Canadian authorities seizure of than $129 million incounterfeit U.S. currency." (Gomez, Bertha. "Officials Say..") In a small townnorth of Chicago, ii high school seniors were find outed for the use ofcounterfeit bills. With the use of the internet and a color printer, these twoteenagers were able to create and pass their counterfeit twenty dollar billsthrough the high school cafeteria hardly were later arrest by police after tryingto use their money at a local Taco Bell. If teenagers are finding ways tocounterfeit money, that should tell someone that we need to do something toprotect our economy for the future.     In attempt to enhance our currency system, the one hundred dollar billwas completely redesigned last year and released at the beginning of this year.This new bill contains a security thread, a watermark, a larger portrait,varriable-color ink and infrared emission fibers. It is called the 1996 series. Next year the fifty dollar bill go forth budge and so forth. At first, economist talked aboutrecalling all of US currency, but later this idea was ruled out o keep a smoothtransition and to honor the new bills at current cheek value.If our economy is at its strongest, who paid for the creation of theseries 1996? The Federal Reserve, chthonic the direction of Alan Greenspan, paidfor this currency improvement. When t... ...bject, someone will try to assumeit. But, what if our currency system was strictly based on a reliance? This willbe the United States currency of the future. Our world has advanced so far withthe aid of the computer. Ten years ago, computers were for only a exhausted versionof typing. We induce come so far from the past. Technology will improve in theyears to come. The money in our wallets is just a special type of paper with aspecial type of ink. It does not back gold like it use to. In the future, wewill have two cards in our wallet. A credit card, if we so contai n to own one,and a currency card. Our treasury and federal reserve will design a feasiblesystem where paper money is something of the past. accomplishment Cite"Fed Moved Too Slow On change magnitude Rates." Wall Street Journal 11 April 1994."Who Controls The Fed?." Investors Business casual 19 August 1996Gomez, Berta "U.S. Officials Say Currency Counterfeiting Remains Small." USIAStaff author (1996) WWW Internet Access.Moreau, Ron and Russell Watson. The Hard-Up North Koreans are suspected of          making nearly perfectly fakes of U.S. $100 bills.