A truly serious counterfeiting operation would in fact plan to do something very similar to what Mr. Heath said a counterfeiter would not do – just not in a single step. The goal of a serious counterfeiting operation would be to persuade the public to use its money rather than the official bills it originally copied when it designed its original fake plates. Its goal would be the replacement of the original official bills with its own bills, making them official in the eyes of the public.Gary North's essays are always very detailed and thorough, if a bit lengthy. This article covers a very broad scope of economic history and describes the process of converting generations of people to treasure a currency once thought to be worthless. It covers precious metal debasement, fractional reserve banking, fiat money, central banks, and inflation - all in the context of a larger move to legitimize a counterfeit currency.
This has been the primary goal of central bankers ever since the creation of the Bank of England in 1694
Thursday, July 26, 2007
The Five Stages of Counterfeiting
http://www.lewrockwell.com/north/north550.html
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment