Counterfiet Money

[hoggy952]

there was an item on the news about the coppers stopping a few hundred thousand pounds worth of counterfeit notes from entering the economy, but my question is... apart from the obvious crime of printing them, what's wrong with them?

What i mean is, a currency note in this country is not worth anything in principle, it is a promise by the bank of England to pay the bearer of the note the value written on the note (in gold i presume) if presented to the bank of England. And we are allowed to set up our own bartering systems.. aren't we? so surely if we find ourselves in possession of a dodgy ?20, then we hand it over as an IOU... just as a real note is?

What gripes me is that if you get caught with one, you lose out...what we should really do is let the banks filter them out, and fine the fraudsters the same amount, and fund any loss with their fine...

PS did you know that our paper money is not made out of paper, but out of cotton?

[daithi]

this was near my gaff during the summer drove by it everyday and didnt no its right beside the main road

Cash counterfeiting operation uncovered in Laois bunker - The Irish Times - Tue, Jun 01, 2010 (http://www.irishtimes.com/newspaper/ireland/2010/0601/1224271588129.html)

[Grizz]

i'm told from a fairly reliable source that its policy in a certain branch of a certain bank not too far from me, just to recirculate the forged notes they get, i presume that more than that one branch do it. of course i wouldnt expect anything better from them, the ~~~~ers

[hoggy952]

I've had a few dud pound coins lately.....the trick is to pass them on so the receiver doesn't notice. On each one the gold paint was rubbing off.

[maca]

asda trolleys are very useful with old led coins ;)

[masur123]

The problem is, is that they devalue the value of the pound and has a massive impact on inflation.

[dctyper]

the more physical cash ie notes, the less it is valued. so more fake notes the less the pound is worth

dc

[barrowmanandrew]

i don't know about notes , but i know for a fact banks recycle pound coins...
i used to work in amusement arcade and would often get bags ofs coins with duds in from them....

[chroma]

Pennies changed in the 70s cause they where worth more melted down into copper than the value of the coin. Now made from copper electroplated... Zinc? Steel? I forget.

Promise to pay the bearer on demand doesnt mean jack nowadays. Banks dont give you the sterling any more. I figure the way the economy works nowadays theree not a reserve to cover each coin/note in circulation. Money has become so removed and diluted as to be practicaly worthless nowadays.
Nothing more than a symbolic throwback to a time when banks where not entirely corrupt.

[thewizardofodds]

asda trolleys are very useful with old led coins ;)

but you just get it back though.

[dctyper]

ive always wondered where the money comes from, there is digital money and real hard cash, but digital money just keeps coming

[Meat-Head]

the more physical cash ie notes, the less it is valued. so more fake notes the less the pound is worth

dc

Yeah, but (pretend) here is $2000 (got no pound sign) of 20's - i'll buy
some of your fuel off you (what ever) - how do you know/where it has come from? Do you exccept cheques? So what could pay on card, but just got a load of cash out of machine - so what?

OFF TOPIC:-

Scrub that - just for got what was going to say

ON TOPIC:-

BACK OFF TOPIC - JUST REMEMBERED:-

Rumor going around says you can't take more than 100,000 into Austrailia.

[hoggy952]

The relatively recent introduction of the silver hologram type marking on banknotes, caused a major malfunction of cash machines, as their suction mechanism couldn't adhere to this, so dispensed an incorrect amount of cash, to unwary users. So a late night withdrawal, means you might have been ripped off by an ATM...

The clever part is that you are presented by the ?20's underneath, the ?10's on top, and in student areas, a ?5 on top of that. If you slip out the larger notes underneath, but leave the ?10 in situ..eventually, the machine thinks you didn't take the cash, and retracts it. Thinking it took the lot. As it doesn't count it on the way back. So you are up ?80 on a ?100 withdrawal.

[thewizardofodds]

The relatively recent introduction of the silver hologram type marking on banknotes, caused a major malfunction of cash machines, as their suction mechanism couldn't adhere to this, so dispensed an incorrect amount of cash, to unwary users. So a late night withdrawal, means you might have been ripped off by an ATM...

The clever part is that you are presented by the ?20's underneath, the ?10's on top, and in student areas, a ?5 on top of that. If you slip out the larger notes underneath, but leave the ?10 in situ..eventually, the machine thinks you didn't take the cash, and retracts it. Thinking it took the lot. As it doesn't count it on the way back. So you are up ?80 on a ?100 withdrawal.

that wont work, did work years and years ago tho

[Meat-Head]

So a late night withdrawal, means you might have been ripped off by an ATM...

.

When looking at DK whilst reading and looking at ~~~~, try not to type ATM in your ~~~~ search page :ridinghorse: