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View Diary: the largest one-time cash transfer in the history of the New York Fed (192 comments)

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  •  Lets attack North Korea!! (none)
    The money, officially known as Note Family - C14342, is thought to originate from communist North Korea.

    Actually, the Superdollar forgeries -- if we can call them that -- have been in circulation for a very long time.

    In the Middle East, a group, allegedly a foreign government, is
         sponsoring production of the Superdollar.  While many
         allegations have been made about the Superdollar, little
         evidence in support of these allegations has been made public.
         According to the report by the House Republican Task Force on
         Terrorism and Unconventional Warfare, the Superdollar is printed
         in the Middle East on "high-tech state-owned presses with paper
         only acquired by governments." Also according to the task force,
         the Superdollar is "designed for direct infiltration into the
         U.S.  banking system and has become a major instrument in
         facilitating the flow of militarily useful nuclear materials and
         equipment and various weapons systems." A few of the foreign law
         enforcement and financial institution officials we spoke with
         believed the Superdollar was being circulated through various
         terrorist organizations around the world, on the basis of
         reports of detections involving individuals with links to
         terrorist organizations.  According to the Treasury Department,
         no evidence exists to show that the note is printed with paper
         acquired only by governments or that the note is designed for
         direct infiltration into the U.S.  banking system.  Treasury
         also maintained that support for the remaining allegations
         concerning the Superdollar is inconclusive.  Furthermore,
         although the Task Force reported that between $100 million and
         billions in Superdollars is in circulation, no evidence has been
         provided to support these allegations.  Since the Superdollar
         was first detected in fiscal year 1990, Superdollar detections
         have represented a small portion of total counterfeit currency
         detections, according to Treasury and the Secret Service.  (Due
         to the sensitivity and ongoing nature of this case, defects in
         and pictures of the Superdollar were not included in this
         report.)
    Letter Report, 02/26/96, GAO/GGD-96-11

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