25 November 2010
It doesn't pay to counterfeit
Thousands of counterfeit Australian notes have been seized both in Australia and the United States, and three bellends (all of which are middle-age Australian men and two of which were in Australia at the time of their arrest and will be facing a judge next week) have been arrested as a result. That is some good work the US Secret Service and the Australian Federal Police carried out because counterfeiting currency is not on. If you have counterfeits in circulation, you have more money in circulation, right? Wrong. If you have counterfeits in circulation, then there will be a reduction in the value of real money, increases in prices due to more money getting circulated in the economy and the fact that companies are not reimbursed for counterfeits, and decrease in the acceptability of money because payees may be forced to demand electronic transfers of real money or payment in a precious metal such as gold. Because of the effects of counterfeiting on the economy, whatever those spineless bellends get is too good for them.
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