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

Counterfeiting Were In The MoneyA frequently asked question by a guest is "Can you break a hundreddollar neb?" If this bespeak has been granted, why do the cashiers take the carte du jour and turn it into a biology experiment? Between pouring a liquid on the creaseand/or holding it up to the light to check for authenticity, is our currency form in danger? As of the beginning of 1996, the Chairman of the Federal coldness and the Secretary of the United States Treasury, prove their economicwizardry by devising the new one hundred dollar bill well-nigh unrealizable to imitative in attempt to protect our economy. This is just the first stones throw 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 rapture of $43.8 jillion incounterfeit U.S. currency, Germanys capture of more than $19 million incounterfeit cash, and the Canadian authorities seizure of than $129 million incounterfeit U.S. currency." (Gomez, Bertha. "Officials Say..") In a small townnorth of Chicago, both high school seniors were gimmicked 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 20 dollar billsthrough the high school cafeteria only 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 unseeable fibers. It is called the 1996 series. Next yeart he fifty dollar bill bequeath win over 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 brass section value.If our economy is at its strongest, who paid for the creation of theseries 1996? The Federal Reserve, down the stairs the direction of Alan Greenspan, paidfor this currency improvement. When t... ...bject, someone forget try to replicateit. But, what if our currency system was strictly based on a acknowledgment? 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 wan versionof typing. We pass water 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 cr edit card, if we so contain to own one,and a currency card. Our treasury and federal reserve will design a feasiblesystem where paper money is something of the past. motion Cite"Fed Moved Too Slow On increase Rates." Wall Street Journal 11 April 1994."Who Controls The Fed?." Investors Business perfunctory 19 August 1996Gomez, Berta "U.S. Officials Say Currency Counterfeiting Remains Small." USIAStaff writer (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.