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#11
03-06-2006, 01:39 AM
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Re: Countries Printing money, Whose counting?
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banks [/ QUOTE ] so they just give it to the banks? i'm gonna start up a bank! 
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#12
03-06-2006, 01:45 AM
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Re: Countries Printing money, Whose counting?
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[ QUOTE ] banks [/ QUOTE ] so they just give it to the banks? i'm gonna start up a bank! [/ QUOTE ] Seriously, I remember reading that you only need about 20k to start a bank of your own... I'll try to find a source for this.
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#13
03-06-2006, 03:04 AM
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Re: Countries Printing money, Whose counting?
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I'm sure the World Bank has some sort of job in this, but I would imagine some countries could do this pretty easily. [/ QUOTE ] The World Bank is an economic development organization that provides conditional loans to developing countries. It is not the global regulatory watchdog of central banks.
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#14
03-06-2006, 06:49 PM
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Re: Countries Printing money, Whose counting?
Financial system is interconnected. It's easy to introduce small amounts of fakes into the system, but it's very hard to introduce billions without the word getting out one way or another. In terms of spotting fakes, aside from known security features, there are also unknown and secret features for making money in terms of the ink formula and paper formula, etc. BTW, this is sort of current event-y, as people are suspecting that North Korea may be doing this on some limited scale right now.
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#15
03-06-2006, 07:12 PM
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Re: Countries Printing money, Whose counting?
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Seriously, I remember reading that you only need about 20k to start a bank of your own... I'll try to find a source for this. [/ QUOTE ] I read this in an article about a master identity thief. I think it was in Playboy? (I really do read the articles!) He impersonated various rich people and transferred money through a network of bank accounts to hide it. The key was that he started his own bank(s?) for $20,000 in Africa, which acted as an intermediary that prevented investigators from following the trail of the money.
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#16
03-16-2006, 02:01 PM
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Re: Countries Printing money, Whose counting?
It is in the best interest of a country's government to not print more money excessively. In the very short term it would help them out, but in the long term all the extra money will cause inflation, probably even hiperinflation. And this would make that country's economy worse off than before it did the printing. Therefore there is no need to regulate it. The country in itself wont print more unneccesary money.
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