Spotting fake hundos - Page 4

FatalError · #31 10-01-2007, 01:24 AM

i worked in a bank for 3 years, i never saw a counterfeit bill, especially in packs of 100$ bills which often get run through a machine real quick. If someone was trying to wash counterfeit money in a poker room they would slip fake bills in the middle of packs of real ones

GTL · #32 10-01-2007, 04:45 AM

dino comics has already weighed in on the subject and you can learn from them.

http://www.qwantz.com/archive/000842.html

A_C_Slater · #33 10-01-2007, 06:54 AM

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You would try to pass a $100 bill at McDonalds?!!? I thought they call in the VP of Operations if someone tries to buy a Big Mac with a C-note. [img]/images/graemlins/smirk.gif[/img]

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Back in my mute non-balla days, I remember going to Vegas and being weirded out that the ATMs dispensed $100s. Then I used one to buy a Beef 'n Cheddar at Arby's. They weren't even mildly phased, and I don't believe they checked it.

Anyway, our economy is built on counterfeit money, has been for centuries. It spends the same. What, you think our Federal Reserve Notes are backed by anything? Money is a societal construct. It's worth what you can convince somebody it is, no matter who made it.

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From the Sci-fi book Schrodinger's Cat by Robert Anton Wilson:

The Federal Reserve did create money out of nothing. So did all the other banks. The laws of Unistat allowed this, by permitting banks to issue loans up to as much as 8 times the amount they had in deposits. Every time a bank made a loan on money they didn't actually have, they were creating money.

Most of the people who knew about this (aside from the bankers) went paranoid worrying about it. This was because they did not realize how much their Reality was created in similarly occult ways.

The Federal Reserve made it possible for other banks to loan what they didn't have. The Fed "guaranteed" the credit of the banks.

The Fed was able to make this guarantee because it had lot of credit itself, in the form of government bonds.

The government bonds were good because they were guaranteed by the loans from the Fed.

The loans from the Fed were good because the government gave them bonds.

And this was safe, because the bonds (remember) were guaranteed by the Fed.

OnYourBike · #34 10-01-2007, 08:18 AM

When a bank loans money, that money is paid back to them. So no money is being created out of thin air. Not that the Fed doesn't pump extra cash into the system to get through the tough times. It does.

A_C_Slater · #35 10-01-2007, 08:39 AM

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When a bank loans money, that money is paid back to them. So no money is being created out of thin air. Not that the Fed doesn't pump extra cash into the system to get through the tough times. It does.

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No the bank expects the money to be paid back to them. The economy is sustained by faith. That is why we have nothing to fear, but fear itself. And money is being created due to the interest that is payed back, plus the loan.

WayAbvPar · #36 10-01-2007, 02:22 PM

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dino comics has already weighed in on the subject and you can learn from them.

http://www.qwantz.com/archive/000842.html

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That was remarkably unamusing.

cc4sc · #37 10-01-2007, 03:08 PM

I was a teller in my past life and in nearly 4 years, I'd spotted only 4 fake bills, with only 1 getting by. Here's my take:

- There are many more fake $20's, then $100's, so relax.
- Markers/pens do not always work.
- Some fakes are so good, you need to call the Federal Reserves to verify. Conversely, some real bills appear really fake and can transform over time or might have been washed.
- When in doubt, refuse it.
- If you have it, be careful what you do with it because certain professions MUST confiscate it (banks etc.).
- Putting in into a slot machine to verify sounds like a good way to proof its authenticity. If it works and you don't want to play, just cash it out.

Rottersod · #38 10-01-2007, 05:11 PM

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When a bank loans money, that money is paid back to them. So no money is being created out of thin air.

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Uh....no. US Currency is not backed by any tangible items such as gold (which is really just a hunk of metal with a specific elemental number that humans assigned an arbitrary value to based on its relative scarcity and its ability to exist in a solid and liquid form without losing much mass between transformations). No bank or reserve has actual cash, collateral or metal anywheres near the actual value of their outstanding loans.

OnYourBike · #39 10-01-2007, 06:32 PM

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When a bank loans money, that money is paid back to them. So no money is being created out of thin air. Not that the Fed doesn't pump extra cash into the system to get through the tough times. It does.

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No the bank expects the money to be paid back to them. The economy is sustained by faith. That is why we have nothing to fear, but fear itself. And money is being created due to the interest that is payed back, plus the loan.

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And if you don't pay it back, the bank seizes your house or whatever assets you have to retrieve the money.

OnYourBike · #40 10-01-2007, 06:39 PM

[ QUOTE ]
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When a bank loans money, that money is paid back to them. So no money is being created out of thin air.

[/ QUOTE ]

Uh....no. US Currency is not backed by any tangible items such as gold (which is really just a hunk of metal with a specific elemental number that humans assigned an arbitrary value to based on its relative scarcity and its ability to exist in a solid and liquid form without losing much mass between transformations). No bank or reserve has actual cash, collateral or metal anywheres near the actual value of their outstanding loans.

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The dollar is backed by the stabilty and strength of the United States of America and the faith people have in it. Sure it has value because we choose believe it does, but that's no different to people putting faith in gold holding it's value. Gold has value because we convince ourselves it has.