Isis has shown a willingness to use corruption on a state level to further its unholy agendas. COUNTERFEITING would be, but a small thing for a Isis. Is it time to kill large bills? A Million dollars of $20.00’s weighs fifty pounds. It is much harder to smuggle out of Isis controlled territory a Million dollars of the 500 euro note which weighs only two and a half pounds. Not to mention the small weight of the $100 notes!!
The issuance of high denomination notes like the 500 euro note and $100 bill should be considered for withdrawing from circulation. Technology is obviating whatever need there may ever have been for high denomination notes in legal commerce. What should happen next? I’d guess the idea of removing existing notes is a step too far. But a moratorium on printing new high denomination notes would make the world a better place. In terms of unilateral steps, the most important actor by far is the European Union. The €500 is almost six times as valuable as the $100. These are difficult times in Europe with the refugee crisis, economic weakness, security issues and the rise of populist movements. There are real limits on what it can do to address global problems. But here is a step that will represent a global contribution with only the tiniest impact on legitimate commerce or on government budgets.
As we all know according to the Koren anything goes, if it promotes Islam. Counterfeiting will be a great concern in the future as Isis becomes a state player with all the resources of a nation. It is time now to stop it.
“Sales of counterfeit products have been well linked to the funding of terrorist activities,” said Richard Cremona, chief executive officer of OpSec”. Our guys found billions in counterfeit currency when we invaded Iraq…not surprised..