$50 and $100 Bills Counterfeits

[McCord6]

Im watching the news and they are saying that alot of stores at the mall are now turning down $50 and $100 bills cuz they are recieving counterfeited bills. Alot of banks are calling the stores up and notifying them of the fake bills and requiring the stores to pay for the counterfeited bills.

 

[Mahonri]

Times are tough.

I have a patient that works at a Federal Reserve Bank here in Phoenix.

He shall be unnamed but he says that there are millions of counterfeit $20 bills out there and that the government knows about it and does nothing.

 

[rufus]

Five years ago we were in Guadalajara on family business. My wife went to buy a rosary for a co worker. She didn't have any small Mexican currency, so she offered to pay with US dollars. The nun agreed, but then she shoved the bills under a black light and promptly pronounced one of them to be fake. She raised such a ruckus, you would have thought someone was being murdered. There were six cops on the scene by the time I got there to solve the problem.

Never try to gyp a nun!

I took the bills back and paid her with Mexican currency. The cops let me keep the fake bill because they were not sure it was fake. Who in their right mind counterfeits a one dollar bill? When we got back to the house, my sons looked it over with a glass. Sure enough, it was fake. You could see wood chips in the paper.

Rufus

 

[Guinea Goonie]

Ya know, it does make me wonder if there have been fake bills passed to me and through me to others.

I believe in "debit cards", never used to, but now I realize that if the American consumer does not use this method of payment that the currency will eventually be under minded by forgery. I really never have liked the idea that I can be "watched" by were and how much I spend, but I am getting to the point that they will know anyhow with cameras in every store.

The wife and I have decided to sell off as much as we possibly can that we rarely use. We have both had to let go of things that we really did not want to get rid of. We keep items we can"barter" with.

So now, we wonder if we sell off things and turn them into a bank account will the money be worthless in the near future.
Counterfeit currency can destroy a nation and it makes me wonder why the government seems to do so little about iit.

 

[PineappleMama]

For the life of me I can't recall who it was but someone (maybe a friend of my uncle's?) cashed his paycheck, then went to the store... store would not take one of the bills... so he went back to the bank to tell them about it and they said tough nuggets!

Normally bills are checked at banks, but I guess on a busy day maybe they just do it at the end of the day? So if someone deposited a fake bill, then the next person in line cashed their check... well that bill would get passed on...

And there ain't much you can do... you SAY it came from their bank but since you'd left the window there's no way to prove you didn't swap it so you're just out that money... unless you can find someone else dumb enough to take it...

But then they'd be in that spot... what a mess.

As much as I dislike the credit system (and the fact that my checking account isn't a checking but a credit account that will pay ANYTHING out and just charge me a fee rather than declining if there's not money in the kitty... oh except when their system crashes then it auto-declines all charges... that's happened three embarrassing times in one year) OY anywho... as much as I hate that at least it does protect you from getting fake bills that are worthless.

 

[redhen]

Quote:
That nun story is cracking me up...

 

[Mahonri]

The government wants to do away completely with currency.

Don't think they'll be able to do it

First step is to do away with the penny and the 1 Dollar bill.

Most pennies are worth more (metal wise) than a penny.

 

[McCord6]

Quote:
That's true. Pennies are made out of cooper and the price of cooper at the scrapt yard is *Whistling* good price. $5 of pennies equal the same weight as a cooper radiator but you can get at least $20 worth from the radiator by itself.

 

[lngrid]

Quote:
Are the bills not showing up when they get swiped with those pens?

 

[McCord6]

I dont know, it was a short news report and half of it wasn't captioned. They just said that alot of stores in the mall are no longer accepting cash of $50 and $100 bills due to counterfeiting and the banks are making the stores pay the price of the counterfeits plus fines.